Agri Picks Report: Geojit
According to Geojit, India's export of castor oil jumped over 70% in December, but the prices of its seed have remained sticky due to weak domestic demand and adequate stocks.
February 24, 2021 / 10:45 AM IST
Geojit's report on Agri Picks
India's export of castor oil jumped over 70% in December, but the prices of its seed have remained sticky due to weak domestic demand and adequate stocks. And now fresh crop has flooded the market. Exporters have signed a deal for nearly 50,000 tn wheat to Bangladesh at $220- $230 per tn, free on board. These shipments will leave from Kandla port within the next few days, market sources said. Clearing corporations will impose pre-expiry margins on cash settled contracts where the price of the underlying commodity may fall to near zero or negative territory, the Securities and Exchange Board of India said in a circular. The Indian economy is likely to have exited a technical recession in the December quarter, with GDP seen rising 0.5%, according to the median of estimates of 27 economists polled by Informist. Malaysia's palm oil exports during Feb 1-20 are estimated to be 10% higher on month at 697,794 tn, according to cargo surveyor AmSpec Agri Malaysia.
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