Myanmar blames India for restricting pulses import quota.

Ram Gopal Yadav (7 years ago)

Yangon has blamed New Delhi for restricting import of three major pulses from Myanmar, saying that the move has plunged Burmese pulses industry into chaos. In August, India announced a 200,000-ton import quota on pigeon peas and 300,000-ton quota on mung bean and green grams. The severe restriction by India limiting the amount of pea products from Myanmar has quickly and adversely affected the Burmese pulses market. The restriction would help support prices of lentils in India but would put pressure on producers in Myanmar who rely heavily on export to India. Myanmar has been exporting peas to India for nearly three decades, while India exported medicines, sugar and agricultural machinery to Myanmar. Yangon’s commodity depot has ceased operation due to India’s import quota restriction on pulses, prompting the pulse prices to plummet.

Kabuli gram, arhar rise on stockists’ buying.

Ram Gopal Yadav (7 years ago)

Prices of kabuli gram and arhar rose by Rs 100 per quintal at the wholesale market on revival of buying by stockists amid pick-up in demand from retailers. Fresh buying by stockists backed by uptick in demand from retailers against restricted supplies from producing belts mainly led to the rise in kabuli gram and arhar prices.

Chana prices rose in spot and NCDEX 1.25 per cent.

Ram Gopal Yadav (7 years ago)

Chana prices rose by 1.25 per cent to Rs 5,855 per quintal in futures trading as traders built up fresh positions amid uptick in demand in the spot market.The rise in chana prices in futures trade to fresh positions created by participants after pick up in demand in the spot market.

U.S. decides to tax Argentinian biodiesel imports.

Ram Gopal Yadav (7 years ago)

U.S. Commerce Department considered that Argentinian and Indonesia exports of biodiesel are subsidized. This would result in tariffs ranging from 50.29 percent to 64.17 percent in the case of Argentina and 41.06 percent and 68.28 percent regarding Indonesia. In 2016, Argentina exported nearly US$ 1.2 billion of biodiesel to the United States.

NCDEX refined soya oil October gained 0.49 per cent.

Ram Gopal Yadav (7 years ago)

Extending its rising streak for the second day, refined soya oil prices strengthened by another 0.49 per cent in futures trading as speculators engaged in building up positions, driven by rising demand in the spot market. Expanding of positions by traders on the back of rising demand in the spot market against restricted supplies from producing belts mainly kept refined soya oil prices in positive terrain at futures trade.