NCDEX coriander up nearly 2% on short covering

Ram Gopal Yadav (7 years ago)

Futures contracts of coriander on NCDEX gained nearly 2% as investors covered their short positions after prices hit a three-week low of 5,222 rupees per 100 kg. The most active January contract of coriander on the NCDEX traded at 5,365 rupees per 100 kg, up 1.6% from the previous close. The rise in prices was also because of expectations of a smaller crop in 2017-18 (Oct-Sep) as farmers shifted to other lucrative crops in Gujarat.

Malaysia to suspend export tax on palm oil for three months

Ram Gopal Yadav (7 years ago)

Malaysia, the world’s second-largest palm oil producer, will suspend export taxes on crude palm oil for a three-month period starting on Jan 8 to boost prices. The export tax suspension will be lifted before the three-month period if crude palm oil stocks fall to 1.6 million tonnes.