NAFED procures 45 tonne of kharif moong in Telangana.

The National Agricultural Cooperative Marketing Federation of India has so far procured 45 tonne of moong grown in the kharif season under the price support scheme in Telangana. The procurement drive that started in the middle of September was underway in Mahabubnagar, Warangal, Khammam, Zaheerabad, Ranga Reddy and Suryapet districts. NAFED started procuring moong as market prices fell below the minimum support price of 5,450 rupees per 100 kg, inclusive of a bonus.

Akola tur prices tad up on hope of demand revival.

Prices of tur in the benchmark market of Akola, Maharashtra, rose a tad because of expectations of a revival in demand. Expectations of near record output in Karnataka are seen weighing on tur prices. The first advance estimates, production of tur in 2017-18 is estimated at 3.99 million tonne, down from 4.78 million tonne the previous year.

Indonesia, India discuss palm oil import duty.

Indonesia and India discussed issues pertaining to the palm oil and pharmaceutical industries during the second Biennial Trade Ministers. Indonesia took up India’s decision to hike import duty on crude palm oil to 15% from 7.5%, and on palm olein to 25% from 15%.

India Soybean ends down 1%; CPO gains on global cues.

Futures contracts of all edible oils, excluding soybean, rose on domestic exchanges, due to improved demand in physical markets. Extending losses from the previous session, soybean futures on the National Commodity and Derivatives Exchange ended around 1% lower due to increasing arrivals in key markets. Increased pace of harvests in the US, the world’s largest soybean grower, also dented sentiments.

Rajasthan aims 3.8 million tonne mustard crop in 2017-18, down 4%.

The country’s top mustard producing state, Rajasthan, has set a target of 3.77 million tonne output of the oilseed in 2017-18 (Jul-Jun), 4.3% lower from the output a year ago. Expecting a lower mustard output this year despite some marginal rise in the acreage primarily because of inadequate water for irrigation in key reservoirs in the state. The state faced a dry spell during most part of Jul-Aug, but rainfall has improved this month. However, water level in key reservoirs in the state continues to remain low.

Fall in arrivals lifts Jaipur mustard seed prices.

Prices of mustard seed rose in Jaipur due to a fall in arrivals coupled with a pickup in demand from domestic oil millers and crushers. Higher carryover stock from 2016-17 season and start of harvesting of kharif oilseeds, however, capped gains in prices.