MMTC invites bids to sell 3,960 tonne imported urad on Aug 23.
Ram Gopal Yadav (8 years ago)

MMTC Ltd has floated a tender to sell 3,960 tonne of urad of Myanmar origin for crop years 2015-16 and 2016-17 on Aug 23. Of the overall amount, 1,145 tonne of urad lies with the Centre Warehousing Corp of Vashi, while 2,820 tonne of the grain lies with Centre Warehousing Corp of Wadala. Bids must be submitted on Aug 23 and opened on the same day. The bids valid up to Aug 30.

Govt says no more import of tur in FY18 as cap of 200,000 tonne hit.
Ram Gopal Yadav (8 years ago)

More imports of tur in the current financial year are not required as the 200,000-tonne limit for the fiscal has already been hit. The government has capped import of tur at 200,000 tonne per annum in a bid to check the sharp fall in domestic prices. The import restrictions though not apply to the government import commitments under bilateral trade agreements and other pacts. The move of capping imports comes in the wake of domestic tur prices plunging to fresh lows due to bumper production. Huge procurement to buoy the falling prices by the government also did not serve the purpose.

India Govt allows export of 122.2 tonne pulses to Maldives.
Ram Gopal Yadav (8 years ago)

India has allowed export of 122.23 tonne of pulses to Maldives under a bilateral trade agreement between the two countries. The export of the two commodities is exempt from any existing or future restrictions. India had banned export of pulses a decade ago when low supply had pushed up domestic prices of tur, urad, and moong to record high.

SEA urges govt to hike import duty on mustard, sunflower oil.
Ram Gopal Yadav (8 years ago)

The Solvent Extractors Association of India has urged the government to raise the import duty on crude sunflower and mustard oil from the current 12.5% to 17.5%, in line with crude soybean oil. The association has requested the government to further increase the import duty on refined soybean, sunflower and mustard seed oil to 25% from the current 20%, in line with the refined, bleached and de-odorised palmolein. The SEA has also urged the government to further increase the duty to discourage import of refined oils and to support domestic refining industry and improve the capacity utilisation in the country.

India Soybean, mustard down; CPO gains on import duty hike.
Ram Gopal Yadav (8 years ago)

Futures contracts in the edible oil basket, barring crude palm oil, traded lower on domestic exchanges. Soybean futures on NCDEX ended 0.4% lower. Higher imports of edible oil in the country also dragged down prices of the oilseeds. Refined soy oil contracts on NCDEX traded 0.84% lower due to ample stocks in the country. Crude palm oil traded higher due to pick up in demand in wholesale markets. Futures contracts of crude palm oil on the Malaysian bourse ended down after India doubled import duty on crude palm oil to 15%.

Indore soybean up as govt hikes soy oil import duty.
Ram Gopal Yadav (8 years ago)

Prices of soybean in the key wholesale market of Indore rose as the government raised import duty on crude soy oil to 17.5% from 12.5%. A higher duty may discourage imports. Firm demand for soymeal and soy oil is seen pushing prices higher. Arrivals in Indore were steady.