Ukraine 2017 oilseed crop forecasts.
Ram Gopal Yadav (7 years ago)

According to the Agricultural Economics Institute, rapeseed production in Ukraine amounted to 2.214 MMT in 2017, or 91.9% more than a year ago. The rapeseed crop increase results both from a rape acreage expansion by almost 1.8 times and a 7.4% yield rise. Sunseed production will amount to 12.05 MMT in 2017 (down 11%). The soybean crop will amount to 2.884 MMT (down 9.2%).

India taxes Brazilian, Argentinian soybean oil.
Ram Gopal Yadav (7 years ago)

India has increased duties on imports of vegetable oils to its highest levels in a decade. The rate imposed by the Indian government hikes from 17.5% to 30%, while the duty refined soybean oil raised from 2o% to 35%. The new duties harm mostly Argentinian and Brazilian exports, which were nearly US$ 100 per ton more competitive than the locally-produced oil, but it will also hurt Malaysian and Indonesian exports.

India Edible Oil Up; NCDEX soybean rises 2% on import duty hike
Ram Gopal Yadav (7 years ago)

Futures of all components in the edible oil basket rose, with soybean contracts gaining the most. Futures of soybean on the NCDEX rose nearly 2% supported by the recent import duty hike on the oilseed. Mustard contracts on the NCDEX traded higher taking cues from the benchmark market of Jaipur.

NCDEX coriander up on bargain buys; acreage seen down
Ram Gopal Yadav (7 years ago)

Futures contracts of coriander traded higher on the NCDEX because demand for the commodity rose after prices fell to a three-week low of 4,921 rupees per 100 kg. Coriander futures also rose as acreage under the spice is seen declining in 2017-18 (Oct-Sep) on the back of unattractive prices in the past season.

US Soybean futures were marginally lower
Ram Gopal Yadav (7 years ago)

Soybean futures were marginally to 1 1/2 cents lower. December meal was down $1.50/ton, with nearby bean oil 22 points higher. The USDA announced a private export sale of 130,000 MT of Soybeans to China for 17/18 delivery.

Malaysia CPO closes higher on CBOT soyoil cues
Ram Gopal Yadav (7 years ago)

Futures contracts of crude palm oil on the Bursa Malaysia Derivatives ended higher, tracking gains in soyoil contracts on CBOT. The most-active February contract of crude palm oil on the Malaysian bourse ended at 2,644 ringgits (41,748.70 rupees) per tn, up 0.8% from previous close. Cargo surveyor Intertek Agri Services Monday estimated exports during Nov 1-20 at 891,926 tn, down 6.25% on month.

Andhra farmers advised to sow groundnut this month
Ram Gopal Yadav (7 years ago)

IMD’s Agrimet division has advised farmers in Andhra Pradesh to speed up the sowing of groundnut during this month, as rains are likely this week. Agrimet has suggested groundnut varieties such as Dharani, Narayani, K6, K7 and K8 Bold, Kadiri Amaravathi and Bheema for sowing in the state.

Panel for linking mustard MSP to oil content, farm min turns it down
Ram Gopal Yadav (7 years ago)

The Commission on Agricultural Costs and Pricing, in a report on 2017-18 rabi crops, had recommended linking the minimum support price of mustard seed with oil content to incentivize farmers to switch to better varieties. The minimum support price of mustard should be linked to the basic oil recovery of 35%, with higher price for every 25 basis point increase in oil content beyond the basic level. There are variations in oil content of different varieties of R&M (rapeseed and mustard) and therefore a uniform MSP may not be desirable. While the average oil content in mustard is 35%, varieties grown in Rajasthan and parts of Gujarat have oil content of up to 40-48%. The pricing panel proposed paying farmers 15.83 rupees per 100 kg for every 25 basis percentage point increase in oil content above the base level of 35%. The farm ministry, however, rejected the panel’s proposal on the grounds that it would be tough to implement. The government instead announced a flat bonus of 100 rupees per 100 kg on the minimum support price of 3,900 rupees for mustard recommended by the pricing panel for this rabi season, to ensure farmers get more money.