Edible oil manufacturers, including Adani Wilmar, Emami Agrotech, and Ruchi Soya, on Thursday, “In principle agreed to cut prices further” in a meeting with the food ministry officials here, sources said. Landed prices of these items have seen a steady fall in recent weeks. Since May, the global price of palm oil has been declining after Indonesia,…
Crude palm oil prices, which hit a record high of Malaysian ringgit 7,268 (₹1,30,824) a tonne on March 9, have decreased by half of it’s high price in four months on the back of changing oil market dynamics. Indonesia, the major producer, and exporter, lifted its export ban within three weeks of imposing it in…
Palm oil prices resumed their downward direction on Wednesday after having gained on the first two days of the week following the suspension of production by some Malaysian producers. The edible oil also gained as soyabean oil prices increased on the Chicago Board of Trade during the weekend. However, the downward pressure on palm oil,…
The Soybean Processors Association of India (SOPA) has urged the Union government to gradually roll back the exemption of customs duty on edible oils to stem the falling domestic prices of soybean. The fall in edible oil prices has also contributed to a substantial fall in soybean prices in the domestic market. In a letter…
The recent policies of the government affecting the pulses sector are betraying New Delhi’s chaotic thinking and knee-jerk reaction. First, as part of the agricultural market reform package, the government placed lentils outside the ambit of the law to intimidate other essential commodities such as oilseeds. The move sought to justify the removal of stock…
Changes in duty structures made by both Indonesia and India this week should provide a boost to demand in Palmyra, and have arrived “at the right moment,” easing concerns about oversupply in the second half of the year, according to market participants. The Indonesian government has announced a reduction in the ceiling rate on its…
According to the U.S. Department of Agriculture’s Crop Progress Report, U.S. soybean farmers have planted an average of five years more than last year, between dry conditions in the Midwest. Crop quality deteriorated further than last week. Poor US soybean crop quality will reduce overall productivity forecasting and stock distribution concerns. According to USDA’s Crop…
Chicago corn futures fell 1.5% on Monday as rains eased traders’ worries about limited global distribution and put pressure on prices. Soybeans fell 1%, while strong Chinese demand saw lower losses, while wheat was lower. Tobin Corey, director of the Commonwealth Bank’s agricultural strategy, said: “Weekend rains in arid regions will reduce crop stress for…
Weather Forecasts Weight forecast for Chicago corn futures fell more than 1% on Thursday in some parts of the USA and soybeans fell to a two-month low. Wheat rose for the second session in a row. “Weather forecasters are constantly looking for rain and cold temperatures this weekend, while dry and hot weather prevails in…
The U .S. Biofuels Act so the Corn, Soydrop, Soy oil down for the Concerns about the need for fuel fodder fell by the daily trade limit last Friday. U.S. Forecasters forecast increased crop yields in some parts of the Midwestern and Northern Plains. The U.S. Environmental Protection Agency says it is considering ways to…
