Agri Commodity update (25th Sep 2019)
  • posted by IMV |
  • 25/9/2019

Fundamental Aspect: Strong buying emerged in chana and mustard seed commodities after sharp sell-off in previous trading sessions. However, weakness was seen in guarseed and jeera counters due to supply pressure in local mandies. Traders are expecting a decline in pulses sowing acreage in major producing states such as Karnataka and Maharashtra. Strong buying interest was also seen in mustard counter in today's trading as most...

Agri-Commodity Update 24th September -2019
  • posted by IMV |
  • 24/9/2019

Fundamental Aspect: Heavy rainfall and flood in parts of Madhya Pradesh are likely to have damaged around 25% of the standing soybean crop in 2019-20 (Jul-Jun), the state's farm department Director Mukesh Kumar Shukla said. Around 40% of the soybean crop is seen damaged in Ujjain, Neemuch, Dewas, Shajapur, Ratlam, Mandsaur, and Agar Malwa districts of the Ujjain division, he said. The output of the oilseed is also "badly affected"...

Agri-Commodity Update 23rd September -2019
  • posted by IMV |
  • 23/9/2019

Fundamental Aspect: Heavy rainfall and flood in parts of Madhya Pradesh are likely to have damaged around 25% of the standing soybean crop in 2019-20 (Jul-Jun), the state's farm department Director Mukesh Kumar Shukla said. Around 40% of the soybean crop is seen damaged in Ujjain, Neemuch, Dewas, Shajapur, Ratlam, Mandsaur, and Agar Malwa districts of the Ujjain division, he said. The output of the oilseed is also "badly...

Agri-Commodity Update 20th September -2019
  • posted by IMV |
  • 20/9/2019

Fundamental Aspect: Strong stockiest buying has infused renewed buying interest in the chana and jeera market. Both commodities such as chana and jeera have witnessed strong buying.  In the previous trading, the NCDEX chana September futures added 1.22 percent as traders are expecting some festival demand. Strong buying interest was also seen in jeera counter in yesterday’s trading as most of the traders are expecting a...

Agri-Commodity Update 18th September -2019
  • posted by IMV |
  • 18/9/2019

Fundamental Aspect: While cotton arrivals have started in the region’s markets, a majority of farmers are averse to selling off their produce to the Cotton Corporation of India (CCI) due to the government agency’s condition of direct purchase. They contend that they cannot break their ties with the ‘arhtiyas’ (commission agents) even if they have to sell their produce at a lesser price. Though initial reports suggest that cotton...

Agri-Commodity Update 17th September -2019
  • posted by IMV |
  • 17/9/2019

Fundamental Aspect: Indonesian media reported on the previous week that India had agreed to lower import duty on its palm oil. However, a senior government official told Cogencis that India had no plans to lower the import duty on Indonesian palm oil as such a move would hurt the local industry. In Malaysia, however, concern over demand from India persisted.  Heavy rains in Madhya Pradesh, the top grower, have hit the...

Agri-Commodity Update 16th September -2019
  • posted by IMV |
  • 16/9/2019

Fundamental Aspect: Indonesian media reported on the previous week that India had agreed to lower import duty on its palm oil. However, a senior government official told Cogencis that India had no plans to lower the import duty on Indonesian palm oil as such a move would hurt the local industry. In Malaysia, however, concern over demand from India persisted.  Heavy rains in Madhya Pradesh, the top grower, have hit the...

Agri-Commodity Update 13th September -2019
  • posted by IMV |
  • 13/9/2019

Fundamental Aspect: Soybean had been planted over 11.27 million hectares (ha) till recently, 0.8 percent higher on-year, according to farm ministry data.  Heavy rains and floods in parts of Madhya Pradesh and Maharashtra seem to have taken its toll on soybean output in the country. And further concerns over yield can be attributed to these heavy rains and flood, the improvement in acreage notwithstanding. Interestingly,...

AgrI-Commodity Update 12th September -2019
  • posted by IMV |
  • 12/9/2019

Fundamental Aspect: Soybean had been planted over 11.27 million hecatres (ha) till recently, 0.8 percent higher on-year, according to farm ministry data.  Heavy rains and floods in parts of Madhya Pradesh and Maharashtra seem to have taken its toll on soybean output in the country. And further concerns over yield can be attributed to these heavy rains and flood, the improvement in acreage notwithstanding. Interestingly, higher...

Agri-Commodity Update 6th September -2019
  • posted by IMV |
  • 06/9/2019

Fundamental Aspect: Chana slipped further in the previous trading session as a pickup in rainfall is being considered to be a positive factor for rabi sowing. The commodity has seen thin buying from stockists in recent days even as arrivals stayed quite thin. Spot Chana is trading at Rs 4200 per quintal, down 0.70% on the day. Source: IIFL India's trade ministry has recommended raising the tax on refined palm oil imports from...