Geojit's report on Agri Picks
Indonesia's clarification that it has banned export of only refined cooking oils, and not crude palm oil, has come as a major relief for top buyers, including India. The ban will come into effect from Thursday. The government is likely to give private companies subsidy on sale of hybrid sunflower seeds in a bid to increase acreage and output of the oilseed, a senior government official told Informist. The global GDP growth is expected to slow down to 3.2% in 2022 from 5.8% in the previous year on account of supply disruptions due to the Russia-Ukraine war and rising COVID-19 cases, S&P Global Market Intelligence said in a report.
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