Kota coriander up on improved demand for new crop

Ram Gopal Yadav (6 years ago)

Prices of coriander rose in Kota, Rajasthan, due to improved demand from stockists for the crop harvested this year. Farmers have held back new crop in anticipation of a rise in prices and were bringing old crop to the market. Arrivals in Rajasthan were estimated at 13,000 bags (1 bag = 40 kg). Of the total arrivals, around 30% were of the old crop.

Russia soybean oil production hitting new highs

Ram Gopal Yadav (6 years ago)

This season’s upward trend in monthly volumes of soybean oil production brings it to record levels. So, a record 426.6 KMT was produced during the first seven months of the 2017/18 season (September-March) that is up 15% on the year. Soybean crushing in Russia slowed down in March 2018. Soybean oil production decreased 9.5% that month against February 2018, to 56 KMT. However, this is up 27% from 44.1 KMT in March 2017 and an all-time high for this month. Despite of increase in soybean processing in the current season, Russian soybean shipments to foreign markets in MY 2017/18 (September-February) remained at the highest level. They totaled 465.3 KMT, i.e. 26% more than in the whole of MY 2016/17 (368.3 KMT). In the current 2017/18 season, Russia’s export trade in soybeans is focused on key importers. So, exports to China increased significantly. China’s share in total exports rose to 96% against 84% a year ago. Iran accounted for almost 4%. Russia started supplying soybeans to the Iranian market in MY 2016/17.

Malaysia CPO ends up on CBOT soy cues, weak ringgit

Ram Gopal Yadav (6 years ago)

Crude palm oil futures on Bursa Malaysia Derivatives settled higher, tracking soyoil contracts on CBOT. The prices of crude palm oil and soyoil typically move in tandem. A weak ringgit against the dollar also supported crude palm oil prices, as weakness in the Malaysian currency makes the commodity cheaper for buyers holding other currencies. The most-active August contract of crude palm oil on the Malaysian bourse settled at 2,432 ringgits (41,499.40 rupees) per tn, up 0.8% from the previous close.

Jaipur mustard up on improved demand from crushers

Ram Gopal Yadav (6 years ago)

Prices of mustard seed rose in the benchmark market of Jaipur because of higher demand from domestic crushers. There is good demand from oil millers, as well as steady export demand for the meal, which is seen pushing prices of the oilseed higher. The most active June futures on NCDEX, however, were down 12 rupees at 3,951 rupees per 100 kg, tracking weakness in soybean and strength in the rupee against the dollar. A firm rupee against the dollar is unattractive for exporters of mustard meal.