Agri Picks Report: Geojit
According to Geojit , The government has imposed stockholding limits on all edible oils and oilseeds till Mar 31, according to an official notification.
October 11, 2021 / 10:04 AM IST
Geojit's report on Agri Picks
The government has imposed stockholding limits on all edible oils and oilseeds till Mar 31, according to an official notification. The government is likely to have imposed stockholding limits as a measure against the rise in prices in domestic markets ahead of the festival season in the country. Brazil's soybean output for 2021-22 (Jan-Dec) is pegged at a record high of nearly 140.8 mln tn due to an increase in acreage under the oilseed, the country's national agricultural agency Conab, also known as National Supply Co, said in a release. The Securities and Exchange Board of India has asked the National Commodity and Derivatives Exchange Ltd not to launch new futures contracts of mustard seed till further notice. For running contracts of mustard seed on the NCDEX, no new positions will be allowed to be taken and only squaring up of positions will be permitted, the market regulator said. The International Cotton Advisory Committee has raised its forecast for global prices for 2021-22 (Aug-Jul) due to expectation of a rise in global consumption and also as ending stocks for the ongoing season are estimated to be lower, the agency said in a report. The southwest monsoon has further withdrawn from some more parts of Gujarat and Madhya Pradesh, most parts of Rajasthan, and whole of Delhi and Chandigarh, India Meteorological Department said.
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