Geojit's report on Agri Picks
Malaysia's crude palm oil exports in November were at 632,943 tn, against 362,480 tn in October, according to data by private cargo surveyor Amspec Agri. Demand for palm oil in India is likely to fall 2.2% to 8.5 mln tn in 2021-22 because of rise in production of soy oil with output of soybean expected to rise, Rabobank said in its November report. Rabobank expects soybean production to rise 5.2% to 11 mln tn in 2021-22 because rise in prices earlier this year has encouraged farmers to increase the area under the oilseed. The outstanding amount to be paid to farmers for the 2020-21 (Oct-Sep) sugar season was 44.45 bln rupees as of Friday, Sadhvi Niranjan Jyoti, minster of state for rural development and consumer affairs, food and public distribution, said in a written reply in Lok Sabh. Wheat prices on the Chicago Board of Trade are seen up in Jan-Mar due to panic buying as higher demand amid a small increase in production in 2021-22 may lead to a large deficit, Rabobank said in its November report. The government has increased the base import prices of all edible oils by $13-$39 per tn, the Central Board of Excise and Customs said in a notification. The government has allocated 88.07 mln tn of food grains under the National Food Security Act, Pradhan Mantri Garib Kalyaan Anna Yojana, and other welfare schemes so far in 2021-22, Minister of State for Consumer Affairs, Food and Public Distribution Sadhvi Niranjan Jyoti said in a reply in the Lok Sabha.
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