India Dec mustard crushing falls 10.5% on month as arrivals fade
Ram Gopal Yadav (8 years ago)

Crushing of mustard by oil mills across the country fell 10.5% on month to 425,000 tn in December. After a three-month consecutive rise, crushing declined in December as arrivals in key markets fell. A crucial rabi oilseed crop, mustard is sown during Sep-Oct and harvested from late January. Supply of the new mustard crop began in February and gathered pace in March. Arrivals were in full swing until May, but began shrinking from June onwards, heralding the lean period. Since the beginning of crushing season in February, oil mills have crushed about 5.7 mln tn mustard seed against the total supply of 5.8 mln tn. Production of mustard in 2016-17 (Jul-Jun) was estimated at 6.7 mln tn, higher than 5.8 mln tn in the previous year, owing to improved yields and conducive weather.

Malaysia CPO ends 3% higher on CBOT soyoil cues
Ram Gopal Yadav (8 years ago)

Futures contracts of crude palm oil on the Bursa Malaysia Derivatives ended 3% higher, tracking soyoil contracts on the CBOT. Prices of crude palm oil and soyoil typically move in tandem, as they are used as substitutes for each other. The most-active March contract of crude palm oil on the Malaysian bourse hit a one-month high of 2,612 ringgits (41,303.60 rupees) per tn earlier. The March contract settled at 2,607 ringgits per tn, up 3% from the previous close. Expectations of higher demand for soyoil and palm oil from China ahead of the Lunar New Year are also seen supporting the prices.

Argentina to cut soybean export tax to 18% vs 30% over 2 years
Ram Gopal Yadav (8 years ago)

The third largest producer of soybean in the world, Argentina, has decided to cut export tax on soybean to 18% from 30% over two years. This reduction is part of the different measures that were taken in the last two years, aimed at giving competitiveness and predictability to the sector. The farm ministry will also reduce the export tax on soyoil and soymeal to 15% from 27%.

Coriander prices down in Kota on higher arrivals
Ram Gopal Yadav (8 years ago)

Prices of coriander fell in the benchmark wholesale market of Kota, Rajasthan, due to an increase in arrivals. The most active January futures contract of coriander on NCDEX traded at 5,455 rupees per 100 kg, down 1.6% from the previous close.