High arrivals weigh on mustard seed prices in Jaipur
Ram Gopal Yadav (8 years ago)

Prices of mustard seed fell in Jaipur, Rajasthan, due to a rise in arrivals of the oilseed amid subdued demand from domestic oil millers and crushers. In Jaipur, the oilseed was sold down 20-25 rupees. Weak export demand for mustard meal also weighed on prices in the domestic market. On NCDEX, the most-active June contract was down 0.23%.

GAPKI says Indonesia’s palm oil exports down 4% YoY in Jan-Apr
Ram Gopal Yadav (8 years ago)

Indonesia’s palm oil exports including biodiesel, oleofood and olechemicals, fell 4% on year to 10.24 mln tn in Jan-Apr as demand from major buying countries declined. In April, the country’s palm oil exports totalled 2.40 mln tn, 5% lower than 2.53 mln tn in the previous month. The drop in palm oil exports was due mainly to the decline in demand from major importing nations such as India, China, the EU and the US, even though demand increased from Bangladesh, West Asian countries and Pakistan. In April, crude palm oil prices averaged at $662.2 per tn, lower than $676.2 per tn in March.

NAFED may ask mills to crush 400,000 tn groundnut, offer oil in PDS
Ram Gopal Yadav (8 years ago)

The National Agricultural Cooperative Marketing Federation of India is planning to divert 400,000 tn of groundnut seeds, procured under the price support scheme in Gujarat, to millers so that the resultant edible oil could be distributed under state-run welfare schemes. NAFED procured over record 800,000 tn of groundnut alone in Gujarat. Of which half would be diverted to crushers so that the oil could be provided to the beneficiaries of welfare schemes like public distribution system and mid-day meal. Rest groundnut seed would be sold in open market to the traders.

Russian soybeans will trade on the Moscow Exchange
Ram Gopal Yadav (8 years ago)

The Moscow Exchange started trading soybeans on May 23. It plans to trade the commodity in deliverable forward contracts and swap contracts, with at least a three-day delay in settlement of transactions. At the initial stage, exchange trades will be held on a delivery basis of LLC Bureyskoye Grain Plant, which is the first accredited basis all over the Far East. It is planned to expand the geography of trade in the future through involving accredited delivery bases in other regions.

NCDEX coriander down for 10th day as imports continue
Ram Gopal Yadav (8 years ago)

Futures contracts of coriander fell for the 10th consecutive day on NCDEX and hit an over seven-month low of 4,362 rupees per 100 kg due to higher imports from Ukraine and Russia, and muted domestic demand. The most-active June contract was down 3.5%. Instead of buying Indian coriander, exporters are importing it from Ukraine and after processing, they are re-exporting it. Bulgaria is also offering their new crop that was harvested in April at very low prices when compared to India.

Farm panel for hike of 440 rupees/100 kg in 2018-19 groundnut MSP
Ram Gopal Yadav (8 years ago)

The Commission for Agricultural Costs and Prices has recommended a hike of 440 rupees per 100 kg in the minimum support price of groundnut for 2018-19. For 2017-18, the government had fixed the support price of groundnut at 4,450 rupees per 100 kg, including a bonus of 200 rupees. For cotton, another major kharif crop, the panel has recommended a sharp hike of 1,130 rupees per 100 kg. It has suggested increasing the support price of medium-staple cotton to 5,150 rupees per 100 kg from 4,020 rupees a year ago, and that of long-staple cotton to 5,450 rupees from 4,320 rupees.