Globoil-2017, Highlights, Dorab Mistry, Director, London-based Godrej International:

India edible oil imports is estimated to rise 1.6% to 15.5 million tonne in the current marketing year ending October. There are expectations of higher imports as production is stagnating and local oilseeds remain uncrushed. Of the total edible oil imports estimated for 2016-17 (Nov-Oct), palm imports would likely comprise the bulk at about 9.65 million tonne, up from 9.32 million tonne bought in the year-ago period. Malaysia palm oil stocks rising till Dec. See Malaysia palm oil stocks falling Jan-Sep. Scales up 2017 Malaysia palm oil output view to 20 million tonne. Scales up 2017 Indonesia palm oil output view to 35 million tonne. ndia ’17-18 sunflower oil import up 1% at 2.15 million tonne. India ’17-18 palm oil import up 4% at 9.65 million tonne. India ’17-18 soyoil import down 3% at 3.4 million tonne. India ’17-18 edible oil import up 2% at 15.5 million tonne

India rise in new crop arrivals pull down spot soybean.

Arrivals of new soybean crop rose in the benchmark Indore market in Madhya Pradesh by nearly 200 bags (1 bag = 100 kg) to 500 bags. New crop arrivals started last week. Total arrivals across Madhya Pradesh were pegged at 80,000 bags, up from 60,000 bags a week ago. Of the 80,000 bags, about 7,000-8,000 bags comprised new crop arrivals. The most-active October contract of soybean on NCDEX ended up 0.3% from previous close. Improved demand for soybean ahead of the festival season also contributed to rise in prices on the domestic exchange.

Gujarat pegs 2017 groundnut output 3.27 million tonne vs 2.74 million tonne.

Output of groundnut, another major crop in the state, is seen rising 19% on year to 3.27 million tonne. Castor output is estimated to decline 12% on year to 1.11 million tonne. Total oilseed output in the kharif season is seen at 4.54 million tonne, as against 4.16 million tonne a year ago. Guar output in Gujarat, the second largest growing state, is likely to fall 41% on year to 144,000 tonne, as acreage declined to 200,000 ha from 352,000 ha a year ago.

Govt lifts export ban on tur dal, urad, moong with immediate effect.

The government lifted the ban on exports of tur dal, urad, and moong with immediate effect. The export of these pulses allowed only after registration of contracts with Agricultural and Processed Food Products Export Development Authority. The move came in the wake of industry demand to support the falling prices in key markets of the country. Prices of most of the pulses hovered near and mostly below the minimum support levels in the country. The government had earlier capped the import of pulses to boost the domestic prices. The government had capped import of tur at 200,000 tonne per annum and urad and moong at 300,000 tonne each per year.

Rajasthan government to start pulses procurement from October.

A total of 76 centres for procurement of moong opened in the state. Similarly, 28 centres for urad, 29 for peanuts and 25 for soybean opened. More procurement centres can be opened considering the interests of farmers and demand of people’s representatives. The move was taken considering the interest of farmers in the state so that they get right price for pulses and oilseed crops. Union government has fixed support price of Rs 5,575 per quintal for moong, which includes bonus of Rs 200. The support price of urad has been announced Rs 5,400 including Rs 200 bonus and Rs 4,450 for groundnut including Rs 200 bonus and Rs 3050 per quintal including bonus for soybean.

Gujarat sees surge 44% in kharif pulses sowing.

As against the national trend, the kharif sowing in Gujarat has shown remarkable growth in pulses sowing with up to about 44 per cent rise in different varieties of pulses. The area under moth beans increase the most by close to 45 per cent to 27,100 hectares as on September 12 as against the three-year average of 18,800 hectares. Other pulses varieties such as moong (green gram), urad and tur witnessed higher acreage by 13-16 per cent. The overall total area under kharif pulses reported an increase of about 8 per cent to 5,60,300 hectares as against 3-year average of 5,21,000 hectares.

Shree Renuka Sugars gets 20.2% of total quota for raw sugar import.

Shree Renuka Sugars Ltd has been allowed to import 60,658 tonne or 20.2% of raw sugar under the quota to import at a concessional rate by the Directorate General of Foreign Trade. EID Parry India Ltd has been allocated 46,556 tonne or 15.5% of the total quota. The government took into account monthly refining capacity of mills, quantity applied, and the number of applications while considering the applications for raw sugar import.