According to Geojit, Crushing of mustard seeds by mills in the country surged 52.4% on year to 800,000 tn in July, data from the Mustard Oil Producers Association of India showed.
Geojit's report on Agri Picks
Crushing of mustard seeds by mills in the country surged 52.4% on year to 800,000 tn in July, data from the Mustard Oil Producers Association of India showed. Mustard crushing in July was, however, largely unchanged from June, an official with the association said. The country received 41% above-normal rainfall at 12.7 mm yesterday, the India Meteorological Department said. With rainfall above normal for two consecutive days, the overall rains also covered up the deficit and improved to normal levels. The United Nations Food and Agriculture Organization's food price index rose for the second straight month in July, with the index averaging 94.2 points, up 1.2% on month. The Association of Natural Rubber Producing Countries expects the global consumption of natural rubber to rise 2.6% on year in Aug-Oct on the back of stimulus measures the world over and improvement in economic activity in major consumers like the US and China. However, it did not specify the demand in terms of tonnage. The National Commodity and Derivatives Exchange will impose additional surveillance margin of 5% on guar gum contracts, till Aug 27, the bourse said in a circular today. The margin was applicable till Aug 25, before the extension. The government has clarified that full export subsidy will be given to even those mills that export sugar to refineries located in special economic zones, the food ministry said in a notification. The NCDEX Agridex, an index of agricultural commodities, was up by 16.80 points at 1091.45 today as contracts of soybean, chana, mustard seed, guar seed and castor seed gained.
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