Agri Picks Report: Geojit
According to According to Malaysia's palm-oil exports in May are estimated to have risen 1.6% on month to 1.4 mln tn, as per cargo surveyor AmSpec Agri Malaysia data.
June 02, 2021 / 10:16 AM IST
Geojit's report on Agri Picks
Malaysia's palm-oil exports in May are estimated to have risen 1.6% on month to 1.4 mln tn, as per cargo surveyor AmSpec Agri Malaysia data. After two floods and a pandemic ravaged cardamom production in India, farmers are hoping this year will be different. In fact, they expect production of the spice to touch a six-year high of 23,000-25,000 tn in 2021-22 (Jul-Jun) as India Meteorological Department has predicted normal southwest monsoon over south India, home to the key producing states of Kerala, Karnataka and Tamil Nadu. The government is likely to cut effective import duty on pulses, by either cutting the basic import duty or agri cess, to increase supply in spot markets, an official said. Indian tea exporters and plantation companies aim to double tea exports to Malaysia over the next two-three years, and also eye higher prices for their shipments to that market. The country today received 4.4 mm rainfall, 69% above the normal weighted average of 2.6 mm, according to the India Meteorological Department data. National Agricultural Cooperative Marketing Federation of India Ltd has received the farm ministry's approval to procure 34,020 tn moong and 9,710 tn urad harvested in the 2020-21 (Jul-Jun) summer season in Madhya Pradesh. The India Meteorological Department today raised its projection for rainfall during the Jun-Sep monsoon season to 101% of the long-period average. In April, it had expected the monsoon to be normal and rainfall during the season to be at 98% of the long-period average. Mills in India produced 30.6 mln tn of sugar during Oct-May, up 13.2% on year, the Indian Sugar Mills Association said. Prices of natural rubber are likely to remain firm in the near term due to a supply crunch and a rise in global demand, the Association of Natural Rubber Producing Countries said in its report.
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