Sugar stocks up on hope of duty hike.
Ram Gopal Yadav (9 years ago)

Sugar stocks rose by up to 20 per cent on expectation of an increase in customs duty to curb cheaper imports and estimates of lesser production than previous projections. The share price of Shree Renuka Sugars jumped the highest, to close at ~15.66. Bajaj Hindusthan and Simbhaoli Sugars surged by 9.3 per cent and 7.3 per cent, to close at ~16.36 and ~31.45, respectively. Also, monsoon rain has been sporadic in major cane growing areas, prompting analysts to forecast less output than previous estimates.

India kharif pulses sowing progress.
Ram Gopal Yadav (9 years ago)

India kharif pulses sowing 4.41 million ha (up 22.92%) vs 3.59 million as on 7 july. India kharif tur sowing 1.43 million ha (down 5.65%) vs 1.51 million ha. India kharif urad sowing 1.01 million ha (up 36.81%) vs 0.74 million ha. India kharif moong sowing 1.25 million ha (up 23.96%) vs 1.08 million ha.

Glencore India denies allegation of pulses cartelisation.
Ram Gopal Yadav (9 years ago)

Glencore Agriculture India Pvt Ltd has said it was not involved in any cartelisation by pulses traders in 2015-16, when prices of some pulses had hit record highs. An investigation by the income tax department indicated the spike in prices of pulses was because of cartelisation by traders.The company said the rise in prices was largely seen in tur and urad, and these commodities were not the core items imported by the company, adding that the company imported negligible quantity of tur and urad. Glencore is one of India largest importers of pulses. The report named companies like Glencore Group, ETG Group, Edelweiss Group, and Jindal Group for influencing overseas markets, hoarding local stock and evading taxes. Prices of most pulses, particularly tur and urad, had hit record highs in 2015. Tur prices in 2015 hit a record high of 15,300 rupees per 100 kg while those of urad had risen to 12,000 rupees.