Malaysia CPO ends 2% up on firm exports Dec 1-25.
Ram Gopal Yadav (7 years ago)

Futures contracts of crude palm oil on the Bursa Malaysia Derivatives ended over 2% higher due to a month-on-month rise in the country’s palm oil exports during Dec 1-25. Cargo surveyor Intertek Agri Services today estimated Malaysia’s palm oil exports between Dec 1 and Dec 25 at 1.09 mln tn, up 1% on month. The most-active March contract of crude palm oil on the Malaysian bourse closed at 2,504 ringgits (39,299.35 rupees) per tn, up 2.2% from the previous close. A weak ringgit against the dollar further supported crude palm oil prices on the Malaysian bourse. Weakness in the Malaysian currency makes crude palm oil attractive for overseas buyers.

Oilseeds have been the worst hit crop in the current kharif season
Ram Gopal Yadav (7 years ago)

Occurrence of heavy rains in the initial sowing stages and moisture stressed situation in the later stages has led to significant decline in production. Production of soybean is seen declining to 10.5 mln tn from 14.2 mln tn. Groundnut production is seen falling 9.9% on year to 5.9 mln tn. The first estimate in September had pegged output for the oilseed lower at 5.7 mln tn.

Rajasthan trade body urges govt to lift GST on mustard to boost crop
Ram Gopal Yadav (7 years ago)

Rajasthan Khadya Padarth Vyapar Sangh urged the Centre to remove mustard from the purview of goods and services tax to boost production and restrict imports of mustard oil. Since Rajasthan is the country’s largest grower of mustard, the current 5% GST on the oilseed make its trade less attractive, and may eventually hit the output. Owing to GST of 5% on sugar, consumers have to bear a tax burden of 200 rupees per 100 kg. The mandi cess of 1.60% adds an additional burden of 65 rupees on the consumers.

Mustard seed prices rise in Jaipur on high demand
Ram Gopal Yadav (7 years ago)

Prices of mustard seed rose in Jaipur, the benchmark market, due to improved demand from crushers. Worries over lower acreage this season are also seen creating positive sentiment. The most active January futures were up 1.2%.

MCX CPO rise on short covering, Bursa Malaysia cues
Ram Gopal Yadav (7 years ago)

The January contract of crude palm oil rose on MCX as investors covered their short positions after prices hit an over seven-week low of 546.3 rupees per 10 kg earlier. The January contract on the domestic bourse was at 553 rupees per 10 kg, up 0.2% from the previous close.

Ukraine from the beginning of MY 2017/18 export of rapeseed increased by 54.2%
Ram Gopal Yadav (7 years ago)

Since the beginning of MY 2017/18, export of Ukrainian rapeseed reached 1.9 million tons. The State Service of Ukraine on Food Safety and Consumer Protection reports that rapeseed exports over this period increased by 54.2% compared to the same date of MY 2016/17 (0.87 million tons). Compared to the same date of MY 2016/17, the volume of soybean exports for the reporting period did not change and amounted to 1.2 million tons. Earlier it was reported that Ukraine in January-November 2017 exported 64.18 thousand tons of rapeseed oil for USD 51.64 million.

Malaysian palm oil price slides on stronger ringgit, technical selling
Ram Gopal Yadav (7 years ago)

Malaysian palm oil futures fell, easing from gains made earlier in the day, as it fell on a stronger ringgit, its currency of trade. A stronger ringgit typically makes palm oil more expensive for holders of foreign currencies. It closed on 0.2 percent stronger against the dollar at 4.0710 and is currently trading at around 14-month lows. The benchmark palm oil contract for March delivery on the Bursa Malaysia Derivatives Exchange fell 0.9 percent to 2,499 ringgit ($613.85) a tonne at the close of trade. Trading volumes stood at 41,112 lots of 25 tonnes each at the end of the trading day.

Russia amur region actively increases soybean oil exports to China
Ram Gopal Yadav (7 years ago)

Soybean oil exports from Amur region to China have increased fourfold over the year, from 4.5 KMT to 17 KMT. Soybean oil exports are picking up pace. 4.5 KMT of this commodity was exported for the first nine months of 2016 and 17 KMT at the same time in 2017. A fourfold increase. Both refined and crude soybean oils are shipped to China. A bumper soybean crop of 1.3 MMT was registered in Amur region in 2017.