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Last Updated : Sep 16, 2020 11:14 AM IST | Source: Moneycontrol.com

Agri Picks Report: Geojit

According to Geojit, Malaysia's palm oil exports during Sep 1 -10 were pegged 26% higher on month at 467,420 tn, according to cargo surveyor SGS Malaysia.


Geojit's report on Agri Picks


Malaysia's palm oil exports during Sep 1 -10 were pegged 26% higher on month at 467,420 tn, according to cargo surveyor SGS Malaysia. Meanwhile, cargo surveyor AmSpec Agri Malaysia reported a rise of 10% in exports at 472,780 tn. Most major rice procuring states have rejected the Centre's proposal to limit rice procurement in order to check the increase in stocks in the central pool, senior government officials told Cogencis. The government has allowed sugar mills to export their Maximum Admissible Export Quantity for 2019 -20 (Oct -Sep) till the end of this year, an official notification said. The Multi Commodity Exchange of India has waived the transaction fees on all commodity option contracts till Mar 31, 2021, the bourse said in a circular. Farmers from Lasalgaon, Pimpalgaon, Niphad, and Umrana--key onion growing regions of Nashik district--hit the streets to protest against the government's decision to ban exports, traders said. The farmers, who were protesting outside the Agriculture Produce Market Committee, also refused to take part in the auction. India received 6.3 mm rainfall yesterday, 3% above normal, the India Meteorological Department said. Since the beginning of the monsoon season on Jun 1, the country has received 862.0 mm rainfall, 7% above normal. Looking at the rise in area under cultivation so far this kharif season, India will see a 'bumper' crop with the output 5 -7% higher from the previous year, CRISIL Research said in a report called 'Farm Signs'. Global demand for crude oil is seen falling by 8.4 mln barrels per day in 2020, 30,000 bbl lower than the forecast in August, the International Energy Agency said in its report. The National Agricultural Cooperative Marketing Federation of India's copra procurement was over 14 -fold higher on year at 4,475 tn of copra as of Saturday from farmers in Tamil Nadu and Karnataka, an agency official said. National Commodity Clearing Ltd, the clearing arm of the National Commodity and Derivatives Exchange, has so far marked 7,040 tn of chana and 5,375 tn of guar seed for staggered delivery against the September contract that will expire on Friday, according to data on its website.

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First Published on Sep 16, 2020 11:14 am
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