NCDEX coriander hits 2-week high as output may fall

Ram Gopal Yadav (7 years ago)

Futures contract of coriander on the NCDEX hit a two-week high of 5,714 rupees per 100 kg today due to expectations of lower rabi output following an over 40% decline in acreage. The most active January contract of coriander on the NCDEX was at 5,685 rupees per 100 kg, up 1.9% from the previous close. Lower moisture and unfavourable weather conditions have been witnessed in major states (Gujarat and Rajasthan), which may reduce the yield of coriander seeds.

Russia oilseed stocks in early December were down almost 8% year-on-year

Ram Gopal Yadav (7 years ago)

Russian agricultural companies held 3696.3 KMT of oilseeds as of December 1, 2017, or 311.1 KMT (7.8%) less than at the same time last year (4007 KMT). Oilseed inventories dropped by 311.1 KMT in November. Farmer sunseed stocks totaled 2181.6 KMT, or 322.5 KMT (12.9%) less than at the same time last year (2504.1 KMT). Sunseed inventories dropped by 59 KMT in November.

Ukraine palm oil imports hit a seven-year high

Ram Gopal Yadav (7 years ago)

Ukraine imported 28.8 KMT of palm oil in November 2017, or 88% more than in the previous month (15.3 KMT) and 51.6% more than in November 2016 (19 KMT). Palm oil imports to Ukraine hit a seven-year high of some 78 KMT in September-November 2017/18. This is up 43.7% from the same time last season (54.6 KMT).

China became the top importer of Russian soybean oil

Ram Gopal Yadav (7 years ago)

Russia exported 44 KMT of soybean oil in November 2017 that was the largest volume for this month. The shipments gained almost 48% against October and over 84% against November 2016. Overall, 2017/18 export statistics shows a 9% drop year-on-year. So, 114.9 KMT of soybean oil was exported in the first three months of the current season against 126.4 KMT at the same time last marketing year. In the current 2017/18 season, China replaced Algeria as the top importer of Russian soybean oil. Consequently, the Chinese share of the market expanded to 45%, while Algeria’s share shrank to 37%.

USDA arm sees 2017-18 Malaysia palm oil exports at 18 mln tn, up 6%

Ram Gopal Yadav (7 years ago)

Malaysia’s palm oil exports in 2017-18 (Oct-Sep) are estimated at 18 mln tn, up 5.9% on year. The USDA arm has pegged Malaysia’s total domestic consumption marginally higher at 3.19 mln tn, compared with 3.17 mln tn. “The increase is in line with population growth and marginal growth in biodiesel production for domestic consumption. Malaysia’s palm oil ending stocks in 2017-18 are estimated to fall to 1.5 mln tn from 1.7 mln tn a year ago.

Malaysia CPO ends higher due to fall in Dec output

Ram Gopal Yadav (7 years ago)

Futures contracts of crude palm oil on the Bursa Malaysia Derivatives ended higher due to a month-on-month decline in the country’s production in December. Malaysia’s crude palm oil output in December fell 5.6% on month to 1.8 mln tn. The most-active March contract of crude palm oil on the Malaysian bourse settled at 2,621 ringgits (41,683.75 rupees) per tn, up 0.9% from the previous close. Higher stocks at the end of December, however, capped the gains. The southeast Asian country’s crude palm oil stocks at the end of December were at 1.7 mln tn, up 12.2% on month.

Soybean up in Indore on firm demand, low arrivals

Ram Gopal Yadav (7 years ago)

Prices of soybean rose in Indore, the benchmark market for the commodity, due to good demand for the oilseed from crushers and lower arrivals.Prices of the oilseed is likely to rise further in the coming days due to shrinking arrivals. The most active February futures contract of soybean on NCDEX ended up 0.9% from previous close.