Indonesia to retaliate against India’s high palm oil import duty
Ram Gopal Yadav (7 years ago)

Indonesia will impose higher import duties on several Indian products in retaliation to the latter’s high import duty on palm oil. Starting Mar 1, India raised import duties on crude palm oil and refined, bleached and deodorised palmolein to 44% and 54%, respectively, from 30% and 40% previously. Indonesia’s Coordinating Ministry for Economic Affairs, other related ministries and the palm oil industry have been discussing the possible response to India’s move.

Skymet warns of rains, hailstorms in Madhya Pradesh
Ram Gopal Yadav (7 years ago)

Madhya Pradesh may receive rains and thunder showers with “light hailstorm” over the next two days. Rains are likely over Bhopal, Dewas, Guna, Indore, Jabalpur, Jhabua, Katni, Mandsaur, Narsimhapur, Neemuch, Panna, Raisen, Rajgarh, Ratlam, Sagar, Sehore, Shahdol, Shajapur, Ujjain, Umaria and Vidisha districts of Indore in the next 48 hours. Madhya Pradesh is one of the largest wheat producing states in India and rains and hailstorm at this time may damage the mature crop.

Delhi chana up on improved demand from dal millers
Ram Gopal Yadav (7 years ago)

Prices of chana rose in Delhi due to improved demand from dal millers and domestic stockists. In Bikaner, chana was quoted at 3,850 rupees per 100 kg, unchanged. The rise in prices was also because the central government has raised the import duty on chana for the third time so far in 2017-18 (Apr-Mar) to 60% from 40%. The most active March futures on the NCDEX were up 32 rupees.

Coriander down on NCDEX as supply seen rising
Ram Gopal Yadav (7 years ago)

Futures contracts of coriander on NCDEX fell due to expectations of a rise in supply in markets in the coming days. The most active April contract was at 5,440 rupees per 100 kg, down 0.2% from the previous settlement. Arrivals are seen rising as harvesting of the new crop is underway in full swing in top producers Rajasthan and Gujarat. Export buying activities in the current season is expected to stay steady to lower while import into India is likely to be unchanged mainly from Russia and Ukraine due to uncompetitive prices.

Analyst ups Ukraine 2018 wheat, barley crop, export forecast
Ram Gopal Yadav (7 years ago)

Analyst Ukr Agro Consult raised its forecast for Ukraine’s 2018 wheat crop by 4.8 percent to 26.3 million tonnes mostly due to a larger harvested area. The consultancy said in a statement the higher output would allow the country to export 17 million tonnes of wheat in the 2018/19 crop season. This year, Ukraine is likely to harvest 6.4 million hectares of wheat with the average yield of 4.11 tonnes per hectare.