Govt allows bulk export of all edible oils, barring mustard
Ram Gopal Yadav (8 years ago)

Mustard oil exports to continue in packs only up to 5 kg. Minimum export price of $900/tn for mustard oil to continue. The Union Cabinet allowed export of all edible oils in bulk, barring mustard oil. Earlier, edible oil exports were allowed only under branded consumer packs of up to 5 kg. Removal of export restrictions is aimed at opening new marketing avenues for Indian edible oils, which in turn would benefit oilseed farmers in the country by way of better realisations. The move would also help in utilisation of idle refining capacity in domestic edible oil industry. Export of mustard oil, however, would continue only in consumer packs of up to 5 kgs with a minimum export price of $900 per tn.

Govt approves urad procurement in Andhra Pradesh, Tamil Nadu
Ram Gopal Yadav (8 years ago)

The government has approved procurement of 100,000 tn urad in Andhra Pradesh and 3,000 tn from Tamil Nadu during the ongoing rabi season. The government will also purchase 32,000 tn moong from farmers in Andhra Pradesh. The minimum support price, at which the government procurement takes place, is 5,400 rupees per 100 kg for urad, and 5,575 rupees per 100 kg for moong. The move comes in the wake of high domestic supplies due to a bumper pulses output in 2016-17 (Jul-Jun) and anticipation of a record high crop this year as well.

India will make decision on Myanmar beans quota by month-end
Ram Gopal Yadav (8 years ago)

At the government’s request, India will make a much needed decision on a new import quota for Myanmar-produced pulses and beans by the end of this month. Myanmar exports 80 percent of its beans and pulses to India. However, due to an oversupply in its own backyard, India last year imposed a quota on all Myanmar imports, resulting in steep falls in the price of locally produced beans. The collapse in the prices of beans and pulses in Myanmar has had a big impact on farmers so the government has asked for a new quota from India so that farmers can export their crops.

Govt approves chana procurement in Andhra Pradesh, Tamil Nadu
Ram Gopal Yadav (8 years ago)

The government has approved procurement of 100,000 tn chana in Andhra Pradesh and 3,000 tn from Tamil Nadu during the ongoing rabi season. The government will also purchase 32,000 tn moong from farmers in Andhra Pradesh. The minimum support price, at which the government procurement takes place, is 4,400 rupees per 100 kg for chana and 5,575 rupees per 100 kg for moong. The move comes in the wake of high domestic supplies due to a bumper pulses output in 2016-17 (Jul-Jun) and anticipation of a record high crop this year as well. Currently, black chana attracts a customs duty of 60% and imports of moong have been capped at 300,000 tn per year.

Indore Rising arrivals drag mustard
Ram Gopal Yadav (8 years ago)

Mustard seeds declined further to 3,950 a quintal (down 300 from last week) with further rise in arrival of new crop across the country. Plant deliveries of mustard seeds for Jaipur line were also lower at ?4,020-25 a quintal.

Brazil soy crop, exports revised up on strong yields, demand
Ram Gopal Yadav (8 years ago)

Brazil is expected to export a record 72 million tonnes of soybeans this year, up from 68 million tonnes last season as a drought damaged Argentina’s grains and China’s potential retaliation of U.S. protectionism caused Brazil soybean premiums to widen in relation to prices in Chicago. Farmers will produce almost 119 million tonnes of soybeans this season as yields grew in key regions and in spite of a lack of rains in the south, which damaged the crop in states like Rio Grande do Sul.