India rabi sowing improves but area under wheat lower than last year
Fix MSP for maize for farmers in Odisha, says Congress.
Fix MSP for maize for farmers in Odisha, says Congress.
US corn net export sales rose 79.8% on week, above market expectations.
US corn net export sales rose 79.8% on week, above market expectations.
Philippines seen to import 1.3 MMT more rice.
Philippines seen to import 1.3 MMT more rice.
Rice-prices rise in India; export demand slows in Thailand.
Rice-prices rise in India; export demand slows in Thailand.
Unseasonal rain hits paddy crop in Odisha.
Unseasonal rain hits paddy crop in Odisha.
Rajasthan trade body urges govt to lift GST on mustard to boost crop
Rajasthan Khadya Padarth Vyapar Sangh urged the Centre to remove mustard from the purview of goods and services tax to boost production and restrict imports of mustard oil. Since Rajasthan is the country’s largest grower of mustard, the current 5% GST on the oilseed make its trade less attractive, and may eventually hit the output. Owing to GST of 5% on sugar, consumers have to bear a tax burden of 200 rupees per 100 kg. The mandi cess of 1.60% adds an additional burden of 65 rupees on the consumers.
Mustard seed prices rise in Jaipur on high demand
Prices of mustard seed rose in Jaipur, the benchmark market, due to improved demand from crushers. Worries over lower acreage this season are also seen creating positive sentiment. The most active January futures were up 1.2%.
MCX CPO rise on short covering, Bursa Malaysia cues
The January contract of crude palm oil rose on MCX as investors covered their short positions after prices hit an over seven-week low of 546.3 rupees per 10 kg earlier. The January contract on the domestic bourse was at 553 rupees per 10 kg, up 0.2% from the previous close.
Ukraine from the beginning of MY 2017/18 export of rapeseed increased by 54.2%
Since the beginning of MY 2017/18, export of Ukrainian rapeseed reached 1.9 million tons. The State Service of Ukraine on Food Safety and Consumer Protection reports that rapeseed exports over this period increased by 54.2% compared to the same date of MY 2016/17 (0.87 million tons). Compared to the same date of MY 2016/17, the volume of soybean exports for the reporting period did not change and amounted to 1.2 million tons. Earlier it was reported that Ukraine in January-November 2017 exported 64.18 thousand tons of rapeseed oil for USD 51.64 million.
Malaysian palm oil price slides on stronger ringgit, technical selling
Malaysian palm oil futures fell, easing from gains made earlier in the day, as it fell on a stronger ringgit, its currency of trade. A stronger ringgit typically makes palm oil more expensive for holders of foreign currencies. It closed on 0.2 percent stronger against the dollar at 4.0710 and is currently trading at around 14-month lows. The benchmark palm oil contract for March delivery on the Bursa Malaysia Derivatives Exchange fell 0.9 percent to 2,499 ringgit ($613.85) a tonne at the close of trade. Trading volumes stood at 41,112 lots of 25 tonnes each at the end of the trading day.
Russia amur region actively increases soybean oil exports to China
Soybean oil exports from Amur region to China have increased fourfold over the year, from 4.5 KMT to 17 KMT. Soybean oil exports are picking up pace. 4.5 KMT of this commodity was exported for the first nine months of 2016 and 17 KMT at the same time in 2017. A fourfold increase. Both refined and crude soybean oils are shipped to China. A bumper soybean crop of 1.3 MMT was registered in Amur region in 2017.