Mustard oil mills across the country crushed 450,000 metric tonne of the oilseed in October, up nearly 6% from last month. Crushing of mustard seed in October improved on month because of a pick-up in arrivals in wholesale markets, as growers sold the commodity to raise money to arrange agri-inputs to saw rabi crops. Since the beginning of the crushing season in February, oil mills have crushed about 4.8 million metric tonne of mustard seed, compared with total supply of 5.0 million metric tonne during the period.
NCDEX coriander dn 1% as supply rises in Ramganj market.
Futures contracts of coriander traded over 1% higher on NCDEX as arrivals increased in the Ramganj mandi. Expectations of a sharp decline in sowing area during the ongoing rabi season owing to lower prices may cushion coriander futures from a major fall.
Krishnapatnam Port to receive 11,880 MT CPO on Nov 07.
Around 11,880 MT of imported crude palm oil is expected to arrive at Krishnapatnam port, Andhra Pradesh, on Nov 07 via Parekh Marine shipping agency. In a bid to curb rising imports of edible oils, especially palm oil, soyoil and coconut oil, the government had in August raised import duty on crude palm oil to 15% from 7.5%. India is the largest importer of edible oils in the world and palm oil accounts for over 60% of the total import of edible oils by the country.
Malaysia CPO down noting losses on CBOT soyoil.
Futures contracts of crude palm oil on the Bursa Malaysia Derivatives ended lower, taking cues from soyoil contracts on the CBOT. The prices of crude palm oil and soyoil typically move in tandem, as they are substitutes for each other. The prices also fell due to a strong ringgit against the dollar. A stronger ringgit makes buying palm oil more expensive for buyers holding other currencies.
Fall in arrivals lifts mustard seed prices in Jaipur.
Mustard seed prices up in Jaipur, Rajasthan, due to a fall in arrivals coupled with renewed demand from domestic oil millers and crushers. Arrivals in Rajasthan estimated at 50,000 bags (1 bag = 85 kg) compared with 60,000 bags. Expectation of a hike in import duty on edible oils further supported mustard seed prices
Soybean prices down in Indore tracking fall on CBOT.
Soybean prices in Indore down tracking weakness in CBOT contracts and on expectations of a rise in arrivals in the domestic market. In Madhya Pradesh, arrivals of soybean pegged at around 400,000 bags (1 bag = 100 kg) as against 350,000 bags. Soybean contracts declined because of selling by investors ahead of the global monthly supply-demand report by the US Department of Agriculture.
NAFED buys 25,568 metric tonne groundnuts in shell.
The National Agricultural Cooperative Marketing Federation of India has procured 25,568 metric tonne of groundnut-in-shell in Gujarat and Rajasthan under the price support scheme. The procurement drive, which started late last month, is underway in eight procurement centres in Rajasthan and over 110 centres in Gujarat. NAFED started procuring the crop from growers as market prices fell below the minimum support price of 4,450 rupees per 100 kg, inclusive of a bonus of 200 rupees.
India barley rises on increased offtake.
India barley rises on increased offtake.
Buyers from Mexico visit US barley fields.
Buyers from Mexico visit US barley fields.
India coffee exports during Jan 1- Nov 2.
India coffee exports during Jan 1- Nov 2.
Spurious cotton seed sown over 600,000 ha in Maharashtra this kharif.
Spurious cotton seed sown over 600,000 ha in Maharashtra this kharif.
Maharashtra seeks probe into 5 cos selling unapproved cotton seeds.
Maharashtra seeks probe into 5 cos selling unapproved cotton seeds.
India govt should fix MSP for basmati, say farmers.
India govt should fix MSP for basmati, say farmers.
Uncertainty about second crop of India paddy cultivation.
Uncertainty about second crop of India paddy cultivation.
Over 6.3 MMT paddy arrives in Haryana.
Over 6.3 MMT paddy arrives in Haryana.
Russian scientists grow super wheat resistant to cold, diseases.
Russian scientists grow super wheat resistant to cold, diseases.
Syria turns from wheat producer to wheat importer.
Syria turns from wheat producer to wheat importer.
Bangladesh wheat imports jump 30% in July-October.
Bangladesh wheat imports jump 30% in July-October.
Egypt to buy wheat from local farmers at global prices next season.
Egypt to buy wheat from local farmers at global prices next season.
NCDEX wheat down on uncertainty over import duty hike.
NCDEX wheat down on uncertainty over import duty hike.