Agri Picks Report: Geojit
According to Geojit, The government slashed import duty on crude palm oil by 1,000 basis points to 27.5%, according to a revenue department notification, in an attempt to cool off soaring edible oil prices in domestic markets.
November 27, 2020 / 12:37 PM IST
Geojit' report on Agri Picks
The government slashed import duty on crude palm oil by 1,000 basis points to 27.5%, according to a revenue department notification, in an attempt to cool off soaring edible oil prices in domestic markets. The government has sold 984,630 tn of rice under the open market sale scheme since April, as per data released by Food Corp of India. Of the 984,630 tn sold, states have bought 944,200 tn and private buyers 40,430 tn. The government has sold 628,280 tn wheat under the open market sale scheme since April, according to data published by the Food Corp of India. So far in November, the government has sold 148,990 tn wheat, with 74,990 tn to private buyers. The National Agricultural Cooperative Marketing Federation of India has purchased around 5,127 tn of key pulses harvested in the 2020-21 (Jul-Jun) kharif season in Tamil Nadu, Maharashtra, Rajasthan and Haryana as of Monday, an official with the agency said. Cyclone Nivar has weakened into a 'deep depression' and is likely to weaken further into a depression in the next six hours, the India Meteorological Department said. The government has purchased 30.7 mln tn paddy in the 2020-21 (Oct-Sep) kharif marketing season so far, up 18.4% on year, it said in a release. Paddy is the largest grown kharif food grain in the country.
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