Edible Oil Insights for January 23, 2017
Oil Seed Insights for January 23, 2017
Palm Oil Insights for January 23, 2017
Pulses Insights for January 23, 2017
Sugar Insights for January 23, 2017
- A mixed trend was witnessed in the Pulses complex in the major spot markets across the country during today’s trade.
- At the Akola spot market, new Tur traded firm in bilty trade, while Chana witnessed a negative trend.
- Slack demand was seen for Chan in the Latur spot market keeping the prices down during today’s trade.
- At the Solapur spot markets new Tur remained firm for the second consecutive day.
- No trade activities happened in Delhi spot market keeping the prices of imported raw Chana firm.
- Nafed kharif pulses procurement reached at 138,235.25 metric tonnes as on December 27. The agency in involved in buying urad, moong and tur from kharif crops.
- Arhar, a major rain-fed kharif crop, plunged below support prices in major growing states such as Karnataka and Andhra Pradesh.
- The new crop have started reaching the markets which is another reason pulling down the prices and the country is expecting further dip in prices once the harvest from Maharashtra, Gujarat and Madhya Pradesh hits markets in January.
- The normal south-west monsoon during the season and increase in acreage by farmers, taking a cue from retail prices which shot up to Rs 200 per kg earlier this year has paved way for record crop production this year. The government’s decision to hike the MSP by Rs 425/quintal also led farmers to ramp up Arhar sowing area by almost 40 per cent this year.
- India estimates a record 4.3 million tonnes of Arhar production for 2016-17. The estimate is 74% higher than the previous year production which was at 2.46 million tonnes. Last year widespread drought severely dented production and led to a spike in retail prices in the country.
- India is targeting 20.75 million tonnes of pulses production this year on account of good monsoon, of which 13.5 million tonnes of output is expected from the ensuing rabi season while 8.7 million tonnes is estimated to have been harvested in the just-completed kharif season.