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News

IMPORTED PULSES LYING ON CUSTOMS WARE-HOUSES YET TO REACH MARKETS

IMPORTED PULSES LYING ON CUSTOMS WARE-HOUSES YET TO REACH MARKETS

The Centre has asked States and Union Territories ot direct millers, traders large chain retailers and importers
to declare their stocks of pulses and provide update on the level every Friday from April 15 as it suspects that a large
portion of imported Tur, Urid and Yellow peas are still lying in customs ware-houses and has not reached the market.
Union Consumer Affairs Secretary, Nidhi Khare conveyed this to States and Union Territories that the need for
increased vigilance over the price and availability situation in respect of Tur, Urid and other pulses.

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SUGAR PRICES ROSE ON HIGHER DEMAND

SUGAR PRICES ROSE ON HIGHER DEMAND

Sugar prices in domestic markets of India rose by Rs. 10 to 20 per quintal due to higher demand. Ending of
the crushing season also supported prices to increase. Prices likely to trade steady or weak as Ramzan season have been ended and Government has released sufficient sales quota for the month.

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DUTY FREE- YELLOW PEAS IMPORTS EXTENDED BY 2 MONTHS

DUTY FREE- YELLOW PEAS IMPORTS EXTENDED BY 2 MONTHS

India has extended the period of duty free yellow peas imports by two months until June 2024.In a notification
DGFT has extended the period of duty free imports for yellow peas. Extention of period is an effort to make the pulses available at affordable prices, according to the news sources.

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INDIA’S MUSTARD SEED PRODUCTION LIKELY TO TOUCH RECORD

INDIA’S MUSTARD SEED PRODUCTION LIKELY TO TOUCH RECORD

India’s mustard seed production likely to touch all time high of 12 million tons during 2023-24 season accord-
ing to the Solvents Extraction Association of India (SEA). Increase in sowing area to 10 million hectares would

increase production. In India rapeseed and mustard seed accounts for nearly one-third of edible oil produced through primary sources making the country’s main edible oilseed crop. It would reduce edible oil imports.

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MALAYSIAN PALM OIL INVENTORIES ARE EXPECTED TO DECLINE 8 MONTH LOW

MALAYSIAN PALM OIL INVENTORIES ARE EXPECTED TO DECLINE 8 MONTH LOW

According to the Reuters survay, Malaysian palm oil inventories are expected to drop 6.65% from the month
ago to eight month low of 1.79 million tons at the end of March. Malaysian palm oil futures for June delivery decline
by RM 10 or 0.23% to RM 4333 ($ 919.22) per ton during early trade as of 8/4/2024 Monday. India’s rape seed
(Mustard seed) output likely to increase by 7% from last years record 12009 million tons in 2024, which would help India to cut back edible oil imports.

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MAIZE PRICES ROSE ON HIGHER DEMAND

MAIZE PRICES ROSE ON HIGHER DEMAND

Maize prices increased due to good demand from poultry feed sector, other consumers and government also
started procuring for ethenol production. Government has made committments for supply to ethenol producing
distileries, according to the news sources. Due to higher market prices in producing centres farmers may opt private
traders for selling maize and it may be difficult to reach procurement targets for government agencies. Due to good demand maize prices likely to be remain higher.

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PALM OIL UP ON STRONG RIVAL OILS

PALM OIL UP ON STRONG RIVAL OILS

Malaysian palm oil today 1/4/2024 opens up on strong rival oil strength. Futures for June delivery
rose by RM 33 or 0.79% to RM 4227 ($ 895.36) per ton as of 1/4/2024 morning trade. Daliyan Soy oil futures
gained by 1.22% palm oil by 2.40%. Chicago Soy oil futures up by 1.33%. Malaysian palm oil exports for March
rose 20.5% to 13,33,138 tons from 1106054 tons during February, according to Cargo Surveyor Intertek Testing Services.

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PEPPER PRICES INCREASING ON BULLISH GLOBAL TRENDS

PEPPER PRICES INCREASING ON BULLISH GLOBAL TRENDS

Bullish trend in global pepper market supporting domestic pepper prices in India. Increase in global
pepper prices and slow down of imports are supportive factors for domestic pepper prices. Global pepper prices are
increasing due to lower global pepper production. Prices of domestic pepper likely to increase in future days. Export
demand likely to increase due to competitive global market prices.

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PALM OIL ROSE ON STRONG SOY OIL

PALM OIL ROSE ON STRONG SOY OIL

Malaysian palm oil futures rose as of 29/3/2024 morning trade on strong Chicago Soy oil futures. Futures for
June delivery rose by RM 26 or 0.63% to RM 4162 ($ 880) per ton in morning trade 29/03/2024. Chicago Soy oil
rose by 0.95% petrolium crude rose more than $ 1 per barrel. At mid-day break 29/3/2024. Malaysian palm oil
futures were at RM 4161 ($ 880.45) per ton.

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JEERA(CUMIN) PRICES FALL ON INCREASED ARRIVALS

JEERA(CUMIN) PRICES FALL ON INCREASED ARRIVALS

Jeera(Cumin) prices fell significantly in anticipation of increased arrivals after holi. Production have been
increased in growing states on increase in cultivation area. Imbalance of supply and demand caused fall in price.
Export demand also decreased. Prices likely to remain lower.

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CHANA (GRAM) PRICES EASE ON NEW CROP ARRIVALS

CHANA (GRAM) PRICES EASE ON NEW CROP ARRIVALS

Chana prices have been eased on new crop arrival season begins, imports of yellow peas and government
sales of Bharat brand chana dal. New crop arrivals likely to increase after holi and during next month. Prices have been eased during March. Prices likely to come down on increase of new crop arrivals to the market.

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25 LMT SUGAR MONTHLY SALES QUOTA FOR APRIL 2024

25 LMT SUGAR MONTHLY SALES QUOTA FOR APRIL 2024

The Government fixed 25 LMT of Sugar sales quota for the month of April 2024, which is higher by 3 LMT
allocated in April 2024 (22 LMT). The allocated quota for March 2024 for domestic sales was 23.5 LMT. Higher
quota likely to put pressure on the sales and prices likely to ease according to the news sources.

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GOVERNMENT DIRECTED TO PROCURE 5 LAKH TONS OF ONION FROM FARMERS

GOVERNMENT DIRECTED TO PROCURE 5 LAKH TONS OF ONION FROM FARMERS

During current year the Government has directed NCCF & NAFED to procure 500000 tons of onion for
buffer stock reqirement directly from farmers as rabri 2024 harvest started arriving the market according to the new
sources. NCCF and NAFED are to pre-register the onion farmers to ensure that payments to the farmers are transfered to their bank accounts through direct benefit transfer.

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PALM OIL FELL ON LOWER RIVALS

PALM OIL FELL ON LOWER RIVALS

Malaysian palm oil futures fell for the 2nd session due to weaker rival edible oils and crude oil prices as well
as weaker Ringgits. Future contract for June delivery fell by RM 53 or 1.23% to RM 4184 ($ 884.94) per ton as of
mid-day break 27/3/2024. Futures fell by RM 10 or 0.24% to RM 4237 ($ 898.24) per ton as of yesterday (26/03/
2024) closing. Dalian Soy oil fell by 1.88% , Palm oil by 1.68%. Chicago soy oil fell by 0.85%.

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INDIA TO PROCURE 37.3 MILLION TONS OF WHEAT

INDIA TO PROCURE 37.3 MILLION TONS OF WHEAT

Wheat stocks in India for the first time in last 16 years currently reached to the lowest level of 7 year
to 7.66 million tons which is below the buffer norms. The Food Ministry has planned to procure Wheat about 37.3 million tons aggresively according to the news sources.

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CASHEW PRODUCTION TO INCREASE IN NIGERIA

CASHEW PRODUCTION TO INCREASE IN NIGERIA

Nigeria’s Cashew production expected to increase during current year to 4 lakh tons and earnings likely to hit
$ 600 million from cashew sales according to the news sources. In last year Nigeria exported 315,677 tons of Raw
Cashew nut and earned $ 504 million. Nigeria’s cashew export earnings increasing year by year.

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PALM OIL GAINS ON HIGHER CRUDE OIL PRICE

PALM OIL GAINS ON HIGHER CRUDE OIL PRICE

Malaysian palm oil prices extends gains in early morning trade 26/3/2024 on higher price of petrolium crude
oil but stonger currency limited gains. Futures for June delivery rose by RM 14 or 0.33% to RM 4261 ($ 903.33) per
ton in morning trade. At Dalian Soy oil rose by 0.38% and palm oil rose by 0.34%. Chicago soy oil dropped by
0.14%.

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PULSES IMPORTS TO INDIA LOWER BY 29% IN JAN-MARCH 2024 PERIOD

PULSES IMPORTS TO INDIA LOWER BY 29% IN JAN-MARCH 2024 PERIOD

India’s pulses imports in the period of January to March 2024 were at 516,223 tons, including Masur(Lentil)
Tur (Pigeon Pea) and Urad (Black Gram), decreased by 29% from the coresponding period of year ago. During the
period in 2024 imports were at 724,883 tons. Global tight supply and hoarding (in expectation of higher demand from
India) resulted to fall in imports. Worldwide Tur production is estimated lower than last year. Tur imports on the said
period fall to 122,817 tons as against 252,004 tons in last year.

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PALM OIL ROSE ON STONG EXPORTS

PALM OIL ROSE ON STONG EXPORTS

Malaysian palm oil futures rose by RM 50 or 1% to RM 4230 ($ 895.05) per ton by miday break 25/3/
2024. Malayasian palm oil exports 1-25 March rose 13.8% over last month’s coresponding period. At Dalian palm oil futures up by 0.60% and Soy oil fell by 0.73%. Chicago Soy oil gained by 0.27%.

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VIETNAM’S PEPPER EXPORT QUANTITY REDUCED, PRICES INCREASED

VIETNAM’S PEPPER EXPORT QUANTITY REDUCED, PRICES INCREASED

During first 2 months of 2024 Pepper export quantity from Vietnam have been decreased but prices increased
sharply. During this period Vietnam exported 35000 tons of Pepper valued at $ 143 million and showed 12.3%
decrease in quantity and 12.9% increase in value. Largest consumers are United States with 29%, India 8% and

Germany 6% and so on, according to news sources. Average price in these two months are at $ 4041 per ton show-
ing an increase of 28.7% over the same period of last year. Domestic prices in Vietnam have shown increase due to

increased export price. Prices expected to remain high due to lower production.

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50% DROP IN CASHEW FLOWERING AT GOA

50% DROP IN CASHEW FLOWERING AT GOA

Cashew flowering in Goa dropped by 50% during current cashew season due to abnormal climative condi-
tions according to the news sources. Abnormal climate in winter season delayed the flowering and later also climate is

not favourable for cashew flowering. RCN prices also lower and yield during current year likely to be affected.
Production in this year expected to fall significantly. Climate in other growing areas of the country also not favourable
for cashew crop during current season. Total raw cashew nut production in India likely to be affected. Domestic raw
nut production expected to fall and if supply from imports also reduced supply chain of cashew industry likely to be
affected. Cashew kernels and its product prices likely to increase in new production season.

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PALM OIL HIT, 1ST LOSS I 5 WEEKS

PALM OIL HIT, 1ST LOSS I 5 WEEKS

Malaysian palm oil futures fell for the 1st weekly loss in 5 and posted 2.33% weekly loss for this week, on
23/03 closing palm oil fell by RM 62 (June delivery) or 1.46% to RM 4187 ($ 884.27) per ton, which is the lowest
close since 13/03. Daliyan Soy oil loss by 1.06% and palm oil by 1.1%, Chicago soy oil fell by 1.19%.

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RCN SUPPLY TO VIETNAM IS LOWERED

After change in policy of sale of RCN by African countries Vietnam is not getting RCN at required quantity
for their processing needs, according to the news sources. African countries such as Ivory Coast and Guinea-Bissav
are modernising their production and processing capacity and limiting the sale of Raw Cashew nuts. The imbalance of

price between RCN and Cashew kernels are causing factories to shut down in Vietnam. Vietnam is facing competi-
tion is processing field from African countries. Supply of RCN from African countries to India also likely to reduce in future dates, due to increase in their processing capacity.

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GUINEA-BISSAU TO INCREASE CASHEW SALES

GUINEA-BISSAU TO INCREASE CASHEW SALES

Guinea-Bissau last year expected to sell 226,000 tons of cashew but only 170,000 tons were shipped.

During current year it is estimated to produce 200,000 tons of cashew and aiming to increase cashew exports ac-
cording to the news sources. The Government setting this year cashew price per kg at less than 300 CFA francs ($

0.49). Upa Gomes, President of Growers Union said his organisation is against the set price by the Government
saying such low price will not help combat the hunger , currently impacting the small scale farmers who are growing the crop. He called to reconsider the decission and set the price at 500 (FA francs ( $ 0.83) and up per kg.

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PALM OIL ROSE ON RIVAL STRENGTH

PALM OIL ROSE ON RIVAL STRENGTH

Malaysian palm oil futures rose top a 2nd straight session on Thursday 21/3 due to stronger rival edible oil,
stronger Dalian market and Chicago market and more than expected export performence figures. Futures for June
delivery rose by RM 20 or 0.49% to RM 4293 ($ 912.05) per ton by mid-day. Dalian palm oil contract rose by
1.26%, Soy oil by 1.53% and Chicago Soy oil by 0.81%. Malaysian palm oil exports in the period of 1-20 March
seen up by 7.4% and 16.3% over last months coresponding period according to Intertek testing services and
Amspec Agri services.

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MAIZE PRICES DROPS IN LEADING MARKETS

MAIZE PRICES DROPS IN LEADING MARKETS

Maize prices across leading markets fell according to the news sources. March monthly wholesale prices fell
by Rs.67.7 to Rs.2269.57 per quintal. Prices rose in Gujarath, Karnataka, Madhyapradesh, Delhi, Rajasthan ,
Telangana, Tamil Nadu and Uttarpradesh. In Delhi prices rose by 3.8% to Rs.2614 per quintal, in Rajasthan by 2%
to Rs.2254 and in Gujarath by 1.5% to 2399 per quintal. Chicago Maize prices rose on Russian attacks on Ukrainan
ports.

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PALM OIL ROSE ON STRONG EXPORTS

PALM OIL ROSE ON STRONG EXPORTS

Malaysian palm oil futures for June delivery rose by RM 66 or 1.57% to RM 4267 ($ 900.78) per ton due
to good exports and lower production. ( 20/3/2024 Mid-day). Exports between 1-20 March rose by 7.4% over the
same period of Februvary according Cargo Surveyor ITS. Palm oil rose at Dalian by 1.45% and Soy oil by 0.38%.
Soy oil up by 0.12% at Chicago.

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TERMERIC PRICE DROPPED ON PROFIT BOOKING

TERMERIC PRICE DROPPED ON PROFIT BOOKING

Termeric prices dropped due to profit booking eventhough supply is lower production for the year is esti-
mated to fall by nearly 14%. Due to good demand and lower supply prices likely to remain high.

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INDIA’S SUGAR PRODUCTION TILL MARCH 15 IS AT 28.079 MMT

INDIA’S SUGAR PRODUCTION TILL MARCH 15 IS AT 28.079 MMT

During current year India’s net sugar production till March 15 is at 28.079 million tons as against
28.260 million tons during the corresponding period of last year according to Indian Sugar Mills Association. In Uttar
Pradesh sugar production is at 8.840 million tons as against 7.963 million tons in last year. Maharastra’s production is
at 10.050 million tons as against 10.192 million tons in last year. In Karnataka it is reduced to 4.755 million tons from
5.350 million tons in last year.

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PALM OIL RISES IN EARLY TRADE

PALM OIL RISES IN EARLY TRADE

Malaysian palm oil futures rose on Tuesday 19/3 early trade following gains in Dalian market. Palm oil futures
for May delivery rose by 0.38% to RM 4252 during early trade yesterdays closing price is at RM 4240 ($ 899.07)
per ton.

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PALM OIL PRICES LIKELY TO MOVE DOWN IN APRIL

PALM OIL PRICES LIKELY TO MOVE DOWN IN APRIL

Palm oil price likely to come down from present higher level to RM 4000 or below due to ample Global
supply of Soy oil and seasonal production recovery of palm oil according to MPOC. Malaysian Palm Oil Council.
Demand after Ramdan month likely to decline. Higher supply of soft oils as well as lower exports of palm oil would push down prices.

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POULTRY FEED PRICE INCREASED DUE TO INCREASE IN MAIZE PRICE

POULTRY FEED PRICE INCREASED DUE TO INCREASE IN MAIZE PRICE

Maize is one of the main ingredient of poultry feed and poultry feed prices have gone up from Rs.36000 to

Rs.40000 to 41000 per ton due to increase in Maize prices. Demand for Maize have been increased for the produc-
tion of feeds and the production of feeds and for the production of ethenol according to the news sources.

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CASHEW KERNEL PRICES WEAK ON SLOW DEMAND

CASHEW KERNEL PRICES WEAK ON SLOW DEMAND

In the 1st quarter of 2024, cashew kernel prices have been reduced by nearly 20% due to slower demand in
the domestic market according to the news sources. Demand from bulk buyers as well as in retail market is slower.
Demand likely to increased in the second quarter. Usually demand slowing during summer.

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NATIONAL PALM OIL PRODUCTION TARGET BY 2025-26 – 11.20 LAKH TONS

NATIONAL PALM OIL PRODUCTION TARGET BY 2025-26 – 11.20 LAKH TONS

Under National Edible oil production mission by 2025-26 India put the target to produce 11.20 lakh
tons of crude palm oilp, Prime Minister Sri.Narendra Modi, during the visit to Arunachal Pradesh, highlighted the
misson Palm oil a special campaign carried out by the Central Government with the focus to North East and
inaugarated the first oil mill under the mission and said Mission Palm oil will make India Aatmanirbhar in the edible oil
sector and boost the income of farmers while expressing gratitude towards farmers for taking up palm cultivation.
This mission is committed to escalating oil palm cultivation and elevating Crude Palm oil production to 11.20 lakh
tons by 2025-26. The scheme is presently operational in 15 states nationwide, covering potential area of 21.75 lakh
hectares. So far, 111 nurseries with capacity of 1 crore planting material have been established, along with 12 seed
gardens with potential of 1.2 crore planting material for area expantion under the mission. Mission designed to
promote oil palm in new geographics, providing end-to-end support to farmers in terms of assistance in planting
material , assured buy back from private players involved and protecting the farmers from global price volatility in oil
palm by providing vaibility gap payment (VGP) to hedge farmers risk. The Government has timely revised the VGP
of palm oil from Rs.10516 in October 2022 to Rs.13652 in November 2023. Besides the VGP benefit NMEO-OP
also offers special assistance of Rs.70000 per hectare to farmers for planting material and management. Also
providing Rs.2,90,000 for the purchase of harvesting tools to farmers for palm cultivation and assistance of Rs.25
lakh for establishing Custom Hiring Centres (CHC). Processing companies under the mission are also one-stop
centres for palm oil farmers where they are providing inputs, custom hiring services, farm advisors of good agricultual practies and collection of farmers produce.

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PALM OIL POSTED 4TH WEEKLY GAIN

PALM OIL POSTED 4TH WEEKLY GAIN

Malaysian Palm oil for May delivery as on yesterday closing 15/3/2024 down by RM 2 or 0.05% to RM
4293 ($ 913.02) per ton but posted 4th consequtive weely gain. Contract gain by 4.86% for the week, which is
highest weekly gain since January 12. At Dalian palm oil up by 0.47% and Soy oil by 0.62% Chicago Soy oil were
down by 0.83%. Malaysian palm oil exports between 1-15 March rose 3.3% to 580,330 tons from 561,614 tons,
according Intertek Testing Services. Another Cargo Surveyor Amspec Agri Malaysia exports rose by 8.4% to 542,973 tons.

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ISMA RISES SUGAR PRODUCTION ESTIMATE TO 34 MMT

ISMA RISES SUGAR PRODUCTION ESTIMATE TO 34 MMT

Indian Sugar Mills Association revised its Sugar production estimate by rising to 34 million tons. In January
ISMA projected India’s Sugar production at 33.05 million tons. Now it is estimated at 34 million tons in 2023-24 as
against the gross sugar production of 36.62 million tons in 2022-23. During last year net sugar production after
deducting tranfered to ethenol is at 32.82 million tons and during current year it is expected at 32.3 million tons and
net sugar production till Feb 29 is at 25.5 million tons according to ISMA.

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PALM OIL AT HIGHEST IN OVER YEAR AGO

PALM OIL AT HIGHEST IN OVER YEAR AGO

Malaysian Palm oil futures rose in a 4th consequtive session today 14/3/2024 early trade due to strong rival
edible oils and petrolium crude oil prices. Futures rose by RM 101 or 2.41% to RM 4296 ($ 916.97). Soy oil at
Dalian rose by 2.06% and palm oil by 3.34% and Chicago Soy oil up by 0.64%. Palm oil likely to remain higher for
short term due to stronger demand towards Ramdan.

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INDIA’S FEBRUARY PALM OIL IMPORTS AT 9 MONTHS LOWER

INDIA’S FEBRUARY PALM OIL IMPORTS AT 9 MONTHS LOWER

India’s February 2024 palm oil imports fell to 9 months low at 497824 tons (36% lower month-on-month)
and which is lowest since May 2023 according to the Solvents Extractions Association of India (SEA). Soy oil
imports in February fell by 8% from January to 172936 tons and far below from monthly average imports of

306,000 tons. India’s total edible oil imports in February fell lowest since nearly 2 years at 0.97 million tons accord-
ing to SEA. Vegetable oil stocks in India fell (March list) by 10% from a month ago to 2.38 million tons and is lowest since 18 months according to SEA.

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PALM OIL GAINS ON FIRM SOFT OILS

PALM OIL GAINS ON FIRM SOFT OILS

Malaysian palm oil futures rose by RM 18 or 0.44% to RM 4147 ($ 886.11) per ton during early trade 13/
3/2024 on firm Soy oil price in Dalian market and firm petrolium crude oil prices. Soy oil rose by 0.08% at Daliyan and palm oil by 0.43% . Chicago Soy oil prices down by 0.33%.

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TURMERIC PRICES HIGHER ON LOWER SUPPLY INCREASED DEMAND

TURMERIC PRICES HIGHER ON LOWER SUPPLY INCREASED DEMAND

Due to reduce in cultivation area during current year by 20-25% in growing states such as
Maharastra,Tamilnadu, Andrapradesh and Telangana production likely to decrease. During 2023 exports dropped by 2.27%. Now due to good buying demand prices are increased.

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MALAYSIAN PALM OIL FUTURES MORE THAN 8 MONTHS HIGH

MALAYSIAN PALM OIL FUTURES MORE THAN 8 MONTHS HIGH

Malaysian palm oil futures touched more than 8 months high yesterday closing (11/3/2024) and today (12/3/
2024) mid-day break rose RM 34 or 0.82% to RM 4165 ($ 889.96) due to higher rivals and lower production
data and lower inventories. Soy oil rose by 0.71% at Daliyan and palm oil by 0.72% . Chicago Soy oil down by 0.17%.

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IMPORTS OF URID DAL FROM BRAZIL

India has imported 3000 tons of Urid dal for the first time according to the news sources. India likely to
import 20000 tons of Urad dal from Brazil according to the news sources. The Govenment has held series of
discussion with Brazil and Arjentina to import Tur and Urad dal for fulfilling domestic consumption requirement,
according to the news sources. During 2023 India has imported 2.98 million tons of pulses including 1.51 MT of
Masurdal, 0.77 MT of Tur and 0.59 MT of Urad from countries such as Austrelia, Canada, Mozambique,
Myanmar, Tanzania, Sudan and Malawai.

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MALAYSIAN PALM OIL INVENTORIES LOWEST, SINCE JULY 2023

MALAYSIAN PALM OIL INVENTORIES LOWEST, SINCE JULY 2023

Total Palm oil inventories in Malaysia fell by 5% to 1.92 million tons in February 2024, which is lowest since
July 2023. CPO production fell by 10% on the month to 1.26 million tons in February, although the production in
stable, Palm kernel production is lower by 12% month-one-month to 302,000 tons in February, production of crude
palm kernel oil fell by 14% to 139,000 tons according to MPOB as per news sources. Palm oil stocks fell
eventhough exports are at three years low. Palm oil exports in February lower by 25% month-on-month to 1.02 million tons, which is lowest since 2021 February.

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MAIZE PRICE RISING ON HIGHER DEMAND

MAIZE PRICE RISING ON HIGHER DEMAND

Maize prices increasing in current year due to higher demand from poultry sector and Government
also buying to supply ethenol producers. Price rising due to higher demand. Poultry feed prices are also increased
due to higher maize price.

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JEERA (CUMIN) PRICES INCREASING DUE TO UNSEASONAL RAIN

JEERA (CUMIN) PRICES INCREASING DUE TO UNSEASONAL RAIN

Cumin(Jeera) prices are now increasing due to recent rains in Gujarath. Prices have been came down below
Rs.300 per kg during last month. Now due to rain, prices again increased Rs. 335 per kg. Rain could affect the
quality as well as quantity to some extent according to the news sources.

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PALM OIL POSTED 3RD WEEKLY GAIN

PALM OIL POSTED 3RD WEEKLY GAIN

Malaysian palm oil futures for May delivery rose by RM 18 or 0.40% to RM 4089 ($ 873.34) per
ton as on 8/3/2024 closing. Futures rose following higher prices at Dalian market. Palm oil gained by 3.1% in this week. Soy oil in Dalian rose by 1.92% and Palm oil by 1.69%.

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ARECANUT PRICES IMPROVING

ARECANUT PRICES IMPROVING

Arecanut prices have been fallen since last month now improved by Rs.10 to 15 pe Kg for Chali and Choll
varieties. Prices for other varieties are also gaining according to the news sources. Prices earlier declined due to the
availability of imported arecanuts in the market, according to the news sources. Domestic arecanut production have
been affected in the current affect and production have been came down according to the growers. – sources.

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PALM OIL AT 7 MONTHS HIGH

PALM OIL AT 7 MONTHS HIGH

Malaysian palm oil futures for May delivery yesterday 6/3/2024 closing rose by RM 95 or 2.38% to RM
4081 ($ 862.79) per ton highest close since July 25,2023. Prices rose on supply demand gap and higher rival edible
oil prices. Global palm oil production declined in the period of January to March 2024, with stocks are down by 1.2

million tons, so for in this quarter according to the news sources. Demand likely to rise towards Ramdan and Ed-ul- Fitr.

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INDIA PERMITS TO EXPORT OF 64400 TONS OF ONION TO UAE, BANGLADEASH

INDIA PERMITS TO EXPORT OF 64400 TONS OF ONION TO UAE, BANGLADEASH

The Government has permitted for exports of 64,400 tons of Onion to UAE and Bangladesh through
National Co-operative Exports Ltd (NCEL) according to the Commerce Ministry notifications as per news sources.
Exports of 50,000 tons to Bangladesh and 14,400 tons to UAE through NCEL according to the DGFT notification. During 2023 April 1st to August 4, India had exported 9.75 tons of Onions.

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GOVERNMENT ALLOWS 30000 TONS OF NON-BASMATI WHITE -EXPORTS TO TANZANIA

GOVERNMENT ALLOWS 30000 TONS OF NON-BASMATI WHITE -EXPORTS TO TANZANIA

The Government allows to export 30000 tons of Non-Basmati White Rice to Tanzania and 80000 tons of
Broken Rice to Djbouti and Guinea-Bissau, according to the news sources. Export is permitted through National
Co-operative Exports Limited (NCEL) according to DGFT notification. The Government has, as part of India’s out
reach to the Global south, allowed the exports of 110000 tons of rice to 3 African countries to help them meet their food security needs.

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INDONESIA’S PALM OIL PRODUCTION SEEN AT 54.4 MMT IN 2024

INDONESIA’S PALM OIL PRODUCTION SEEN AT 54.4 MMT IN 2024

According to Indonesia Palm Oil Association in 2024, Indonesia’s palm oil production would rise by 2.26%
to 54.4 million tons. Palm oil exports in 2024 are seen at 29.5 million tons lower from 30.25 million tons in last year
Inventories in 2024 are estimated at 5.25 million tons, according to the news sources.

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MALAYSIAN PALM OIL ROSE ON SUPPLY CONCERNS

MALAYSIAN PALM OIL ROSE ON SUPPLY CONCERNS

Malaysian palm oil futures yesterday 5/3/2024 moved to 5 weeks high at RM 3989 rose by RM 51 or
1.3% ($ 842.81) ton on supply concern due to lower production estimates and expertation of higher demand from
India. Today morning trade 6/3/2024 Malaysian Palm oil rose by 1.23% or RM 49 to RM 4035 ($ 851.27) per
ton on gains in rival edible oils and weaker ringgit. Soy oil rose by 1.03% at Dalian and palm oil by 1.68%.

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COFFEE PRICES POSTED MODERATE GAINS

COFFEE PRICES POSTED MODERATE GAINS

Coffee prices posted moderate gains on 5/3/2024 with Arebica rising 2 week high and robusta rising 3
week high. Below average rains in Brazil’s growing regions supported Arebica prices and fall in Vietnam’s February
2024, exports by 20% year on year supported robusta prices. Tighter inventorie are supportive factor. Exports from
Hondures during February rose by 26% year-on gain to 932,678 bags. Brazil’s Coffee crop production estimate is
hiked to 61.1 million bags from the previous estimate of 58.9 million bags by Safras & Mercado. On February 5 to
its 2022-23 Brazil Coffee crop estimate. Brazil exporter group comexin on February 1st raised it, Brazil’s 2023-24
Coffee export estimate to 44.9 million bags from 41.5 million bags. Brazil’s estimating agency Conab estimated that
Brazil’s 2024 Arebica Coffee production would rose by 5.4% year-on-year to 58.1 million bags. USDA estimated
Colombia’s 2023-24 coffee production would rose by 7.5% year-on-year to 11.5 million bags. According to
USDA annual report of December 21st Global Coffee production in 2023-24 shows increase of 4.2% year-on-year
o 171.4 million bags, with 10.7% increase in Arebica production to 97.3 million bags, decline by 3.3% in Robusta production to 74.1 million bags as per news sources. Stocks for 2023-24 end will fall by 4% to 26.5 million bags.

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VEGETABLE OIL IMPORTS LIKELY TO DECLINE TO 16.2 MMT IN 2023-24

VEGETABLE OIL IMPORTS LIKELY TO DECLINE TO 16.2 MMT IN 2023-24

According to Indian Vegetable Oil Producers Association (IVPA) India’s vegetable oil imports is expected
to decline to 16.2 million tons in 2023-24 from 17.06 million tons in 2022-23. The share of palm oil imports is likely
to decline from 60% to 54% due to low spread with soft oils. Edible oil consumption is expected to increase by
3.3%, Sudhakar Desai, Chief Exceutive Officer of Emami Agrotech Ltd and President of IVPA, said the share of
palm oil in total imports is excuted to decline from 60% in 2022-23 to 54% in 2023-24 due to very low spread with

soft oils in the seminar in Kuala-lampur on Monday according to the news sources. India reduced import of Soy-
bean Oil in January to March period due to lack of hedging tool, he said it is expected to increase in April to Sep-
tember as many players attempted to lock the negetive forward soyabean oil palm spread continues to be zero for

longer then palm oil share can drop to 50%. Soya- Palm oil spread was more than $ 400 a year ago. Desai esti-
mated CPO price outlook at $ 900-940 per ton (C & F) for April -June and at $ 840-900 per ton (C & F) for

July-Sept. He estimated Soybean oil at $ 900-960 (c&f) per ton for April-Sept and Sunflower oil at $ 890-940 per
ton for April-June, $ 900-950 for July- Sept. He projected domestic vegetable oil availability at 9.23 million tons during 2023-24 as against 9.07 million tons in 2022-23.

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SUGAR PRODUCTION MARGINALLY LOWER BY 1.19% AT 25.53 MMT

SUGAR PRODUCTION MARGINALLY LOWER BY 1.19% AT 25.53 MMT

Sugar out of India marginally declined by 1.19% to 25.53 million tons till the February and 2024.
Production during previous year end February was at 25.84 million tons according to ISMA. Production in
Maharastra, Karnataka, Gujarath and Tamilnadu were lower till end of February 2024. Production in Uttarpradesh
remained higher at 7.81 million tons as against 7 million tons in previous year end February. In Maharastra at 9.09
million tons as against 9.51 million tons in the corresponding period of last year. In Karnataka at 4.7 million tons
(5.12 million tons last year) Production in Gujarath is at 770,000 tons and in Tamilnadu at 580,000 tons up to
February end 2024. November of operating factories are higher than last year during this year and operating period is likely longer than last year in Maharastra and Karnataka.

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PALM OIL LOWER ON WEAK RIVALS

PALM OIL LOWER ON WEAK RIVALS

Malaysian palm oil May delivery lower by RM 8 or 0.2% to RM 3958 ($ 837.49) per ton on weaker rival
edible oils and stronger ringgit. Palm oil lost 0.37% in Dalian and Soy oil by 0.41%. Ringgit stronger against dollar by 0.36% which is higher by one month.

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SECOND ADVANCE ESTIMATE OF MAJOR AGRICULTURAL CROPS 2023-24

SECOND ADVANCE ESTIMATE OF MAJOR AGRICULTURAL CROPS 2023-24

The Ministry of Agriculture and farmers welfare has released 2nd advance estimate of Major Agricultual
Crop (Kharif & Rabi) for 2023-24. Kharif Rice production is estimated at 114.58 LMT(1105.112 LMT in 2022-
23) Rabi rice is estimated at 123.57 LMT, Wheat production is estimated at 1120.19 LMT which is higher by
14.65 LMT as against 1105.54 LMT in previous year. Production of Shree Anna (Kharif 128.91 LMT, Rabi 24.88
LMT, Jowar (Kharif 15.46 LMT, Rabi 24.88 LMT) higher by 0.66 and 1.66 LMT respectively from previous year.
Nutri/Course Cerelas (Kharif 356.11 LMT) (rabi 144.61 LMT), Tur production 33.39 LMT ( Last year 33.12
LMT), Gram at 121.61 LMT marginal lower than last year’s production. Lentil (16.36 LMT, 15.59 LMT in last
year) Soyabean (125.62 LMT) Rapeseed and Mustard 126.96 LMT, Cotton 323.11 Lakh bales. Sugarcane
4464.30 LMT.

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UNTIMELY RAIN, HAILSTROMS DAMAGED WHEAT,CHANA, MUSTARD IN MADYAPRADESH

UNTIMELY RAIN, HAILSTROMS DAMAGED WHEAT,CHANA, MUSTARD IN MADYAPRADESH

Rabi Chana, Wheat and Mustard crops in Madhyapradesh were damaged by untimely rains, hailstroms just
few days before harvesting according to the news sources. 20-30% of Wheat and Chana crops in Malwa and
Bundelkhand regions and 15% of mustard crops in Chambal and central regions were destroyed according to State
agriculture department as per news sources.

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PALM OIL ROSE ON STRAIGHT RIVAL OILS

PALM OIL ROSE ON STRAIGHT RIVAL OILS

Malaysian palm oil futures for May delivery rose by RM 6 or 0.15% to RM 3964 ($ 835.67) per ton by 1/
3/2024 closing on stronger rival edible oils. The future in this week gained 2.88%. Soy Oil Dalian Market up by
1.37% and palm in Dalian up by 1.29%. Soy oil in Chicago up by 0.39%. Exports of Palm oil products from
Malaysian in February fell by 14% to 1,106,054 tons from 1,286,509 tons in January according to the Cargo
Surveyour Interlek Testing Services. According to Independent Inspection company AmSpec Agri Malaysian,
exports fell 18.5% to 1,000,348 tons from 1,227,101 tons in January.

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CUMIN (JEERA) ARRIVALS SIGNIFICANTLY INCREASED

CUMIN (JEERA) ARRIVALS SIGNIFICANTLY INCREASED

During the period of January 1st to February 25, 2024, Cumin arrivals were at 38 thousand tons as against
24 times and tons in the same period of 2023. Arrivals had seen 58% increase. Prices declining since few days.
Production is expected to be higher than last year. The new crop arrivals has started in the markets of Rajasthan,
according to the news sources. In Gujarath also new crops begin to arrive to the markets. Cumin cultivation area
increased by 103.p 40% in Gujarath according to the news sources and reached to 560,800 hectares. India’s cumin
is facing competition in global markets from other growing countries such as Afghanisthan,Iran, Turkey and Syria.
Prices have been came down due to higher arrivals. During the current rabi season cumin acreage reached 4 years high according to the news sources.

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PALM OIL ROSE FOLLOWING STRONGER SOY OIL

PALM OIL ROSE FOLLOWING STRONGER SOY OIL

Malaysian palm oil futures for May delivery rose by RM 36 or 0.92% to RM 3943 ($ 828.54) per ton
today 29/2-2024 morning trade due to higher Dalian soy oil price. Palm oil prices rose by 0.95% and Soy oil prices
by 0.36% in Dalian exchange , Chicago Soy oil prices fell by 0.38%. According to the news sources, Indonesia is
planning for lower CPO reference prices for the period of 1-31st March to $ 798.90 and keep the export tax and
leavy at $ 33 and $ 85 per ton respectively. Palm oil May futures yesterday closing fell by 0.38% at RM 3907 ($ 819.59) per ton after 3 days gain.

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GARLIC PRICES DROPPED FURTHER ON HIGHER SUPPLY

GARLIC PRICES DROPPED FURTHER ON HIGHER SUPPLY

Garlic prices are dropping since one week after the onset of arrivals from the harvest of new crop. Supply
have been significantly increased after the new crop season, especially from Madhyapradesh. Harvest are likely to
begin in other growing states such as Rajasthan and Gujarath. Prices were ranging between Rs.100 to 200 per kg in wholesale markets.

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MARCH SUGAR SALES QUOTA IS AT 23.5 LMT

MARCH SUGAR SALES QUOTA IS AT 23.5 LMT

In an announcement on 27th February, The Food Ministry has allocated 23.5 lakh tons of monthly Sugar
sales quota for March 2024 which is higher than the allocated quantity in 2023 March (22 LMT). Quota during
February is 22 LMT. The Government has also announced that there will be no extention for the quota of February
2024.

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POULTRY EXPORTS FROM INDIA AT NEW RECORD

India’s Poultry exports for 2022-23 had touched a new record of Rs.1081 crore ($ 134.04 million) dou-
bling over previous year Rs.529.8 crore ($ 71 million) on rising demand for eggs and egg products from Oman and

Srilanka among others. In the first 9 months of 2023-24 the poultry exports stood at Rs.1074 crore ($ 134.02
million) . Exports of eggs to Srilanka had witnessed more than 100 time increase in value in the first 9 months with
the neighbouring nation emergency as the 2nd largest importer of Indian poultry products. Poultry products export

value stood at Rs.117.19 crore till December end in the current fiscal as against Rs.98 lakh during 2022-23. Ship-
ments to Srilanka had grown from 1416 tons in 2022-23 to 1.69 lakh tons in first nine months of 2023-24. Exports

to Oman, largest buyer of Indian poultry products stood at Rs.293.90 crore in the current fiscal upto December
2023 as against Rs.277 crore in 2022-23. Other countries that saw increase in poultry shipments till end December
2023 include Japan at Rs.82.9 crore (Rs.57.77 crore in 2022-23) and quater at Rs.63.38 crore (Rs.51.60 crore in
2022-23) are among others. Exports likely to vench Rs.1200 to 1400 crore during 2023-24. Next fiscals target is
likely to export may be Rs.2000 crore according to news sources.

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PALM OIL ROSE ON 4TH STRAIGHT SESSION

Malaysian palm oil futures for May delivery rose from yesterday’s closing of RM 3924 to RM 3936 ($
827.06) per ton by mid day of 28/2/2024. Strength in rival edible oils prices supported palm oil prices and weak
export data limited gains. Malaysian palm oil exports likely to see larger drop while small drop in output is experted.
Indonesian palm oil production this year is likely to grow by 5% from last year to 57.6 million tons, while exports are likely to be at 32 to 33 million tons according to Indonesia Palm Oil Association (GAPKI)

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VIETNAM IMPORTED 2 LAKH TONS OF PADDY FROM INDIA IN 2023.

VIETNAM IMPORTED 2 LAKH TONS OF PADDY FROM INDIA IN 2023.

Vietnam has imported 2 lakh tons of Paddy from India during 2023 for the first time in decades to process it
into Rice and re-export the refined white rice according to the news sources. After India imposed export ban on
White rice Vietnam is receiving brisk export orders for white rice. Rice exports from Vietnam increased to 8.3 million tons in 2023.

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PALM OIL ROSE ON HIGHER RIVAL OILS

PALM OIL ROSE ON HIGHER RIVAL OILS

Malaysian Palm oil May delivery rose by RM 27 or 0.70% to RM 3890 ($ 814.49) per ton in early trade
today 27/2/2024 due to gains in rival edible oils. Palm oil rose by RM 15 or 0.39% to RM 3868 ($ 810.05) per ton
at yesterday closing. Indonesia’s palm oil exports during 2023 dropped by 2.7% to 32.2 million tons from 33.1 million tons in 2022, according to Indonesia Palm oil Association (GAPRI).

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PALM OIL DOWN ON WEAK EXPORTS

PALM OIL DOWN ON WEAK EXPORTS

Malaysian Palm oil May delivery was down by 0.21% to RM 3845 ($ 805.24) per ton during 26/2/2024
mid-day break on expectation of weak exports. Palm oil exports from Malaysia 1-25 February are down by 11%
due to lower price of rival edible oil. 1-25 Feb Malaysian Palm oil products exports fell by 10.7% to 951409 tons as against 1-25 Jan 1064778 tons according to Cargo surveyor ITS.

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CASHEW KERNEL PRICES LOWER BY Rs.10 @ INDORE

CASHEW KERNEL PRICES LOWER BY Rs.10 @ INDORE

Cashew prices dropped Rs.10 per kg in Indore due to higher supply and lower demand. Raw nut season
for the current year has began in some parts of the country and production have been started and producing units in
Indore also have been increased during recent years, according to the news sources. Demand likely to increase in
coming days as consumption likely to increase during summer season due to various celebrations such as marriages and other functions.

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DRY FRUIT MARKETS GROWING RAPIDLY

DRY FRUIT MARKETS GROWING RAPIDLY

Increase in consumption of ready to eat foods drinking, increase in demand for dry fruits. Year-by-year
market for dry fruits are growing by 6.2% according to CAGR (Global demand from 2023 to 2031) and global
consumption is estimated to reach US $ 15.6 billion by 2031. Likewise demand for processed foods such as
snacks, pickles, sweets and baked products are also increasing and dry fruits are used as ingredients for such processed foods. Value added products from Dry fruits also getting demand from consumers.

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MALAYSIAN PALM OIL POST WEEKLY GAINS

MALAYSIAN PALM OIL POST WEEKLY GAINS

Malaysian palm oil futures for May delivery rose by 0.31% to RM 3851 ($ 806.49) per ton and gained
1.1% for this week. Invention at the end of February estimated to drop below 2 million tons. Production also likely to decline.

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MYANMAR TO EXPORT 200 TONS OF ARECANUT MONTHLY TO INDIA

MYANMAR TO EXPORT 200 TONS OF ARECANUT MONTHLY TO INDIA

Myanmar plans to export aproximately 200 tons of arecanut every month to India, according to the news
sources. Preperations are on the transport the first batch of 17 tons of dried arecanut in 20 feet container to obtain
approval for quality. The plan has been agreed upon by India’s Tax Corporation Company and local areca palm
growers in Myanmar, as per news reports. Approximately 230000 tons of arecanut are produced in Taninthiyati
Region of Myanmar. Bangladesh is primary purchaser and 2000 tons of Arecanut exported to Bangladesh during 2021-22.

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MAIZE PRICES INCREASING

MAIZE PRICES INCREASING

Maize domestic prices in India were rose due to the use of Maize for ethenol production

industries. Demand from poultry field were also good and prices are increasing. Now poultry industry urges Govern-
ment to allow maize imports. Supply of Maize will increase in domestic market if imports of Maize are allowed.

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PALM OIL DROPS DIRECT 2ND STRAIGHT SESSION

PALM OIL DROPS DIRECT 2ND STRAIGHT SESSION

Malaysian palm oil futures fell for the 2nd straight session by RM 17 or 0.44% to RM 3822 ($ 860.59) per
ton on weaker rival oil prices in Dalian market. Soy oil commit in Daliyan fell by 0.52% and palm oil by 1.22% and
Chicago Soy oil price fell by 0.31%.

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MUSTARD AND GROUNDNUT SEEDS DOWN ON HIGHER ARRIVALS

MUSTARD AND GROUNDNUT SEEDS DOWN ON HIGHER ARRIVALS

Mustard seeds and groundnut prices fell in markets of Jaipur in Rajasthan and Gondal in Gujarath dist to
abundent arrivals according to the news sources. Production of mustard have been increased due to expansion of
cultivation area. Groundnut prices were down by 100 per quintal in Gondal of Gujarath.

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CENTRE WARNS THAT OF PRICE CAP ON TURDAL IMPORTS

CENTRE WARNS THAT OF PRICE CAP ON TURDAL IMPORTS

The Centre warned the industry that it may impose a price cap on the imported Tur dal in order to keep
domestic prices under control as it is concerned about the monopoly suppliers Myanmar and Mozambique. Industry
representatives said challenges in imposing maximum import price (MIP) on pulses include the possiblity of fall in
imports, according to the news sources.

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20% EXPORT TAX ON PARABOILED RICE, EXTENDED UNTIL FURTHER ORDER

20% EXPORT TAX ON PARABOILED RICE, EXTENDED UNTIL FURTHER ORDER

The Government of India on 21st February, Wednesday extended the 20% duty on export of paraboiled

rice beyond March 31sr. In a notification of Finance Ministry 20% of the export duty on paraboiled rice will con-
tinue beyond March 31 without end date. Government has also decided to allow the duty free import regime for

yellow peas, subject to the bill of landing issued on at before April 30, 2024.

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EXPORT BAN ON ONIONS TO CONTINUE TILL MARCH 31ST 2024

Centre has clarified that the ban on onion export will continue till 31st March 2024 as per news sources.
Government is continuously procuring onions from the farmers under price stabilisation fund as to ensure farmers are
not adversely affected.

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INDIA’S RICE PRODUCTION LOWER BY 3.8%

INDIA’S RICE PRODUCTION LOWER BY 3.8%

The Ministry of Agriculture and farmers welfare has estimated Kharif rice production 3.8% lower at 106.31
MT as against 110.51 MT in 2022. India continued to be the world’s top exported of rice in 2023 despite banning
shipments of white rice imposing 20% duty on paraboiled rice according to the Thailand Rice Exporter’s Association
(TREA) . However its global market share declined as shipments fell by 27% . According to (APEDA) Agricultural
and Processed Food Products Development Authority Non-Basmati rice exports during April-December 2023
dropped by 28% to 8.34 MT valued at $ 3.34 billion as against 13.18mt valued at $ 4.66 billion. Basmati exports
during this period up by 19% at 3.97 mt valued at $ 3.97 billion as against 3.20 mt valued at $ 3.34 billion during
previous year.

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MALAYSIAN PALM OIL ROSE BY 1.04%

MALAYSIAN PALM OIL ROSE BY 1.04%

Malaysian palm oil for May delivery rose by RM 40 or 1.04 % to RM 3900 ($ 812.67) per ton on today

21/2/2024 early trade due to higher rival edible oil prices. Malaysian palm oil exports for the period of 1-20 Febru-
ary 2024 seen falling by 3.4% to 18.3% from the previous month according to the Cargo surveyor’s data.

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VIETMAN’S PEPPER PRODUCTION EXPERTED TO FALL BBY 10-15%

VIETMAN’S PEPPER PRODUCTION EXPERTED TO FALL BBY 10-15%

Pepper production during this year in Vietnam is experted to fall by 10-15% to 160000 to 165000 tons
according to the news sources. Prices are rising in Vietnam due to higher demand and lower supply. Prices were
rose by 3.6% to $ 3.50 per kilogram and expected increase further. Global demand is expected to fall this year due
to geographical tensions according to the prediction of experts.

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SUGAR PRICE SHOWING DOWN TREND

SUGAR PRICE SHOWING DOWN TREND

Domestic Sugar prices fell by Rs. 10-20 per quintal due to lower demand and sufficient production. Domes-
tic sugar prices showing down war trend since last month on slower demand against abundent supply.

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GOVERNMENT AGENCIES TO PROCURE MAIZE AT MSP

GOVERNMENT AGENCIES TO PROCURE MAIZE AT MSP

Government Agencies to buy Maize from farmers at minimum guarantee prices to supply to destilleries for

the ethenol production. Maize prices likely to increased at domestic market as demand likely to increase. Govern-
ment Agencies NCCF and NAFED will buy maize from farmers at MSP and supply to destillers for the production

of ethenol according to the news sources.

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INDIA LIKELY TO LIFT ONION EXPORT BAN

INDIA LIKELY TO LIFT ONION EXPORT BAN

India likely to lift export ban on onion exports as there are huge onion stocks in Gujarath and Maharastra
according to the news sources. Onion prices in domestic market have been increased by Rs.400 to 500 per quintal
from past two days.

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PALM OIL GAINS ALONG WITH RIVAL OILS

PALM OIL GAINS ALONG WITH RIVAL OILS

Malaysian palm oil on Tuesday 20/2/2024, early trade (May contract) gains by RM 13 or 0.39% to RM
3880 ($ 810.19) per ton. Palm oil futures at Dalian rose by 1.41% and soy oil by 1.28%. Soy oil at Chicago rose
by 0.61%.

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SUGAR PRODUCTION IN INDIA TILL FEB 15, 2024- 22.36 MMT

SUGAR PRODUCTION IN INDIA TILL FEB 15, 2024- 22.36 MMT

Till Februvary 15, 2024 Sugar production in India reached at 22.36 million tons according to Indian Sugar
Mills Association (ISMA) which is lower by 2.48% produced in the corresponding period of previous year (22.93
MMT). Production in Maharastra is at 7.94 million tons (8.59 tons in previous year). In Karnataka is at 4.32 million
tons (last year 4.6 million tons). In Uttar Pradesh 6.77 million tons (last year 6.12 million tons). Sugar prices are
weak in the domestic market on sufficient supply.

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MALAYSIAN PALM OIL FUTURES ROSE AFTER 2 SESSIONS LOSSES

MALAYSIAN PALM OIL FUTURES ROSE AFTER 2 SESSIONS LOSSES

Today Monday 19/2/2024 Malaysian palm oil futures rose after 2 session losses at early trade due to
recovery in rival trade due to recovery in rival vegetable oil prices, but limited exports restricted gains. Future for
April delivery rose by RM 22 or 0.58 to RM 3831 ($ 801.30) per ton by mid-day. Malaysia maintained CPO
export tax at 8% and increased its reference price.

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CHICAGO WHEAT FUTURES DROPPED 6 MONTHS BIGGEST WEEKLY DROP

CHICAGO WHEAT FUTURES DROPPED 6 MONTHS BIGGEST WEEKLY DROP

Chicago wheat futures dropped on Friday 16/2/2024 for a biggest weekly drop since September 2023 on
higher then expected inventories and competition from cheaper Russian Wheat. Rising stocks for coming year put
pressure on prices. Russian wheat export prices fell again by $ 4 per ton from the previous week to $ 224 per ton.
OMSS sale by FCI in India crossed a record 8.48 million tons. The highest quantity of wheat sold was 8.1 MT in
2018-19 for bulk buyers such as flour millers. To curb prices in India Government is aiming to sell a record 10 MT
of wheat by March 15 in this fiscal. According to the news sources. Procurement of Wheat for 2024-25 in India
would commence form April 1st, 2024.

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2023-24 GLOBAL MAIZE PRODUCTION UP BY 6.1% – 1GC

2023-24 GLOBAL MAIZE PRODUCTION UP BY 6.1% – 1GC

The International Grain Council projected 2023-24 global maize production at 1.234 billion tons on Feb 15.

Projection make upward revision by 4 million tons to record 1.234 billion tons, which 6.1% higher from the produc-
tion in 2022-23. Global consumption of Maize also upward rivised by 1GC to 1.222 billion tons, which is up by 47

million tons from the last year. Carry over stocks seen raising by 5% from 2022-23 to 288 million tons.

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FEB:1-15 MALAYSIAN PALM OIL EXPORTS FELL BY 10.8% TO 17%

FEB:1-15 MALAYSIAN PALM OIL EXPORTS FELL BY 10.8% TO 17%

Malaysian palm oil futures extended losses on drop in exports. According to cargo surveyors palm oil
exports from Malaysian between Feb 1-15 fell between 10.8% to 15%. Palm oil inventories fell to their lowest in 6
months but rebound in prices limitd due to abundent supply of soy oil and sunflower oils.

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CBOT CORN PRICES FELL TO 3 YEARS LOW

CBOT Corn prices fell to 3 years low as increased supply from increased production in United States
according to the news sources. Arjentina’s corn production is estimated to be higher at 59 million tons. Conab

reduced the Brazil’s Corn production to 113.7 MMT (3 MMT lower) Production in Ukraine is estimated to in-
crease. Global prices likely to remain lower on sufficient supply.

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SOYABEAN FUTURES CHICAGO FELL TO 3 YEARS LOW

SOYABEAN FUTURES CHICAGO FELL TO 3 YEARS LOW

Chicago Soyabean futures fell to the lowest level since December 2020 on increased supply and strong
Dollar exchange price. United States Soyabean faces stiff competition from other suppliers with plentiful cheap
stocks. Soybean supply likley could be higher as production is experted to be higher in key Soybean cultivating
countries. Due to increasing supply soybean and soy oil prices likely to remain lower.

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PALM OIL FELL ON WEAK SOY OIL AND CRUDE OIL

PALM OIL FELL ON WEAK SOY OIL AND CRUDE OIL

Malaysian Palm oil futures dropped by RM 18 or 0.46 to RM 3930 ($ 822.00) per ton in early trade,
Thursday (15/2/2024) . Palm oil prices dropped due to lower Soy oil and petrolium crude oil prices. U.S crude
inventories increased more than expected. Chicago Soy oil prices down by 0.53%. Chicago Soy bean futures fell to
3 years low to lowest since December 2020.

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GOVERNMENT TO TAKE ACTIONS TO PULSES SPECULATION

GOVERNMENT TO TAKE ACTIONS TO PULSES SPECULATION

If under speculation continue on Toor and Urid which has no relationship with demand and supply, we are
going to make some really tough decisions, Rohit Singh, Secretary of the Department of Consumer Affairs, said at
the webinar on Rabi pulses production outlook 2024 hosted by India Pulses and Grains Association, the nodal body
for India’s pulses trade and industry on Saturday. He said that the Government has been observing the trend in toor
prices for the last couple of weeks, which has indicated that there is under speculation in the market. The
Goverments drove to procure tur at market price has so for not getting good response as farmers are continue to
prefer to sell to private traders, according to news sources.

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MAIZE PRICES DOWN ON LOWER DEMAND

MAIZE PRICES DOWN ON LOWER DEMAND

Maize prices were down by Rs.50 per quintal in Davanagere of Karnataka on subdued demand. Arrivals
were lower by 300 bags. Demand was lower from Tamilnadu as new crop harvest arrivals started to arrive in
Tamilnadu markets. Prices have been increased by Rs.50 per quintal yesterday on good demand.

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MALAYSIAN PALM OIL FUTURES UP BY 1.15% ON LOWER INVENTORIES

MALAYSIAN PALM OIL FUTURES UP BY 1.15% ON LOWER INVENTORIES

Malaysian palm oil futures for April delivery rose by RM 45 or 1.15% to RM 3946 ($ 825.18) per ton by

mid-day today 14/2/2024 on lower January end inventories, but absense of China buying limited the gains. Availabil-
ity of rival edible oils at discounts also limited the gains. Soy oil prices on Chicago Board fell by 0.77% . Higher

petrolium crude oil prices supported palm oil prices. Malaysian palm oil January inventories moved to 6 months low
at 2.02 million tons dropping by 11.83% from the previous month.

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MALAYSIAN PALM OIL JANUARY STOCKS FELL 6 MONTHS LOW

MALAYSIAN PALM OIL JANUARY STOCKS FELL 6 MONTHS LOW

Malysia’s January palm oil stocks fell to 6 months low of 2.02 million tons, which is below the expectation of 2.09
million tons according to Malaysian Palm oil Board. Malyasian palm oil inventories expected to full below 2 million
tons by the end of this month on lower production and exports. January’s annualised stock/usage ratio is just above
the 15 years average of 10% and new it is at 10.3%. According may bank Investment Bank Bhd, CPO prices may
go above RM 4200 per ton in coming months. Prices expected to come down by mid of 2024 in anticipation of
recovery in production and availability of rival edible oils. Crude palm oil production dropped by 9.59% in January
to 1.4 million tons and palm oil exports lower by 0.85% from the previous month to 1.35 million tons according to
MPOB.

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INDIA’S JANUARY PALM OIL IMPORTS FELL 12.4% , SOY OIL IMPORTS ROSE 23.7%

India’s January palm oil imports fell by 12.4% from December 2023 to 782,983 tons according to the
Solvents Extractions Association of India (SEA). Soy oil imports rose by 23.7% to 188,859 tons and Sunflower oil
imports fell by 15.6% to 220,079 tons and total vegetable oil imports fell by 8.4% to 1.20 million tons. Palm oil
imports are falling due to Costlier compared to rival Soy oil and sunflower oil’s price. Crude plam oil price per ton is
at $ 932(including CIF) for March delivery, while crude soy oil and sunflower oils prices are at $ 919 and $ 925 per
ton respectively, according to the dealers.

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EXPORT PRICE OF INDIA’S PARABOILED RICE EXTENDS GAINS

EXPORT PRICE OF INDIA’S PARABOILED RICE EXTENDS GAINS

Export prices of paraboiled rice from India extended gains and prices rose from last weeks $ 537-$ 546 to
$ 542 – $ 550 per ton for this week. Milling of new seasons paddy is going on, but supplies are limited as
Govenment purchases are also going on. Basmati paddy production in India increased from 11 million tons in the last
year to 13 million tons for this year according to the news sources. Paddy prices have been increased from Rs.44 in
the previous year to Rs.50per kg during this year. Demand for Basmati rice in the domestic as well export are have
been increased.

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RAW CASHEW NUT PRODUCTION AFFECTED BY ADVERSE WEATHER

RAW CASHEW NUT PRODUCTION AFFECTED BY ADVERSE WEATHER

Raw Cashew nut production in India significantly affected by the adverse weather for the ongoing season.
Flowering have been delayed by one or two months and ratio of flowers convertion into fruits have been minimized.
Yield likely to drop significantly due to adverse weather, delayed flowering. Raw cashew nut production for the
ongoing season likely to drop significantly.

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PALM OIL POSTS WEEKLY GAIN ON LOWER OUTPUT ESTIMATED

PALM OIL POSTS WEEKLY GAIN ON LOWER OUTPUT ESTIMATED

Malaysian palm oil posted weekly gain a head of the Lunar new year festival, buoyed by lower production
estimates. Futures for April delivery closed (9/2/2024) higher by RM 7 or 0.18% at RM 3881 ($ 8145.34) per ton
and gained 3.12% for the week. Soy oil futures at Chicago were down by 0.77%.

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INDIA TO INCREASE VEGETABLE OIL PRODUCTION

INDIA TO INCREASE VEGETABLE OIL PRODUCTION

India planned to increase vegetable oil production by increasing vegetable oilseeds production. It would be
the part of the plans to minimize vegetable oil imports in coming years. Vegetable oil imports are very expensive,
which had spent about $ 20.8 billion to import vegetable oil until March 2023. Insufficient production of oilseeds
and vegetable oils forced India for more imports up to two third of its annual consumption, which reached 23 million
tons. Palm oil imports contributed about 60% of the total vegetable oil imports. With the planning to implement
modern agricultural technique, market connection, purchase guarantee, additional values, plant insurance and other
supports, production of oilseeds such as canola, soyabean, sesame, sunflower are planned to increase at the part of
temporary budget. Vegetabel oil seeds production have not been increased as per the growth in consumption. Goal
is to minimize vegetable oil imports from 60% to 30% for the next five years according to the news sources.

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WHEAT STOCK LIMITS REDUCED TO 500 MT

WHEAT STOCK LIMITS REDUCED TO 500 MT

Centre has reduced stock limits of Wheat to wholesalers, traders and retailers from 1000 MT to 500 MT in
order to manage the overall food security and to prevent hearding and unscrupulous speculation. Stocks in retail
outlets are maintain as earlier, which is 5 MT. Stock positions should be updated every friday and officials of the
Central and State Govenments are monitoring enforcement of stock-limits according to the news sources.

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PALM OIL ROSE ON HIGHER SOY OIL PRICE

PALM OIL ROSE ON HIGHER SOY OIL PRICE

Malaysian palm oil futures for April delivery rose by RM 57 or 1.47% to RM 3931 ($ 823.07) per ton
during early trade today 9/2/2024. Prices rose following higher soy oil and petrolium crude oil prices. Palm oil
gained 4.44% so far in this week setting for the weekly gains.

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BLACK PEPPER PRICES DROP ON INCREASE IN SUPPLY ON HIGHER IMPORTS

Pepper prices have been dropped by Rs.30 over last fortnight due to increased supply in the market
due to increased imports from Vietnam and other cheaper varieties. Collections of Pepper from piligrim centres are
also increased the supply and fall in demand push down the prices according to the supply likely to increase as harvest season is going on.

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MAIZE PRICES INCREASED ON HIGHER DEMAND

MAIZE PRICES INCREASED ON HIGHER DEMAND

Maize prices increased due to increase in demand from neighbouring states. Arrivals to Davanagere form
1000 bags to 3000 bags from yesterday according to the news sources. Higher demand likely to keep maize prices higher.

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PALM OIL ROSE ON SUPPLY CONCERNS, STRONGER RIVALS

PALM OIL ROSE ON SUPPLY CONCERNS, STRONGER RIVALS

Malaysian palm oil futures for April delivery rose by RM 21 to RM 3898 ($ 818.22) per ton by mid-day (8/
2/2024) on supply concerns over lower stocks and production and stronger rival edible oil prices. Indian buyers
likely to increase buying in anticipation of build up stockpiles. Soy oil prices higher in Dalian and Chicago markets.

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KABULI CHANA PRODUCTION TO INCREASE ON HIGHER ACREAGE

KABULI CHANA PRODUCTION TO INCREASE ON HIGHER ACREAGE

Due to expansion of growing area in key growing region such as Gujarath, Andhrapradesh, Madhyapradesh,
Maharastra. Kabuli Chana (Chickpea) production during current year is expected to increase. Higher domestic as
well as export demand and higher prices have attracted farmers to cultivate in more growing areas and production
also expected to increase. The new crops are experted to be harvested from second half of this month in
Maharastra and March in Madhyapradesh.

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GOVERNMENT LAUNCHED ‘BHARAT’ RICE AT Rs.29 PER KG

GOVERNMENT LAUNCHED ‘BHARAT’ RICE AT Rs.29 PER KG

Union Minister of Consumer Affairs, Food and Public Distribution, Mr.Piyush Goyal, on Tuesday 6/2/2024
launched the sale of ‘Bharath’ brand rice at MRP of Rs.29 per kg in 5 and 10kg packs by flagging 100 mobile vans
through which the rice will be made available to a wider segment of consumers in the national capital. ‘ Bharath’ rice

will be available at all physical and mobile outlets of Kendriya Bhandar, National Agricultural Co-operative Market-
ing Federation of India (NAFED) and National Co-operative Consumers Federation (NCCF) from 6/2/2024 and

will be expanded to other retail outlets and e-commerce platforms soon according to the news sources. ‘Bharath’
Atta and ‘Bharat’ chana dal is also being sold by these 3 agencies and some other retail networks and e-commerce platforms.

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PALM OIL WEAK ON WEAKER RIVAL OILS, SLOW TRADING

PALM OIL WEAK ON WEAKER RIVAL OILS, SLOW TRADING

Malaysian palm oil futures for April delivery down by RM 5 or 0.13% to RM 3838 ($ 805.63) per ton on
slow trading and weaker rival edible oils as traders awaiting for production and stock data. Soy oil fell by 0.79% and palm oil by 0.31% in Dalian market. At Chicago Soy oil fell by 0.48%.

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CAMBODIA SIGNS MOU WITH AFRICAN CASHEW ALLIANCE TO

CAMBODIA SIGNS MOU WITH AFRICAN CASHEW ALLIANCE TO

The Cashew nuts Association of Cambodia(CAC) has signed a memorandum of understanding
(MOU) with African Cashew Alliance (ACA) in a move to bolster collaboration in the industry. This aims to enhance
the growth and market research of Cashew cultivation, signalling a promosing step forward in global cashew sector.
The MOU’ s objective is to promote co-operation between the parties, facilitating exchance of studies on the
commodity from Africa and Cambodia, allowing access to farms and processing facilities in their respective countries
and participating in farms and conferences organised by both according to the news sources. During last year
Cambodia exported 656,000 tons of RCN to China, Japan, Bangladesh, India, Vietnam and Thailand. Processed
Cashew nuts were exported to China, The Czech Republic, Japan, South Korea, The Netherlands , Vietnam and
U.S as per news sources.

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TELANGANA WILL HOST GLOBAL RICE SUMMIT IN THIS YEAR

Telangana will host the Global Rice Summit 2024, between June 4 and 6, 2024. 500 stakeholders including

exports, experts, researchers and market forces from various countries and India with the collaboration of Interna-
tional Commodity Institution(ICI). Promoting the rice exports, providing knowledge platform, showcasing various

varieties of Rice from India including Telangana will be the focus according to the news sources.

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PALM OIL FUTURES UP ON LOWER PRODUCTION EXPECTATION AND FIRM RIVAL OILS

PALM OIL FUTURES UP ON LOWER PRODUCTION EXPECTATION AND FIRM RIVAL OILS

Malaysian palm oil futures for April delivery up by RM 33 or 0.60% to RM 3825 ($ 803.57) per ton on lower
production ecpectations and firm rival edible oil prices. Soy oil prices at Chicago were up by 0.62% and at Dalian
Palm oil futures rose by 0.68% . Soy oil South American spot prices fall below $ 800 per ton for the first time since
September 2020 under pressure from Chicago Board of Trade future contract prices and sluggish demand from key
imported according to the news sources.

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GARLIC PRICES STARTED COOLING

GARLIC PRICES STARTED COOLING

Significantly increased Garlic prices started cooling in today’s market price, Garlic prices have been in-
creased during last week as old stocks have been ex-hausted and new arrivals have not started on full strenth. But

today prices have came down as sufficient quantity of commodity is started arriving to the markets. Prices likely to
come down further.

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TOOR DAL, URID DAL PRICES ARE INCREASING DUE TO GAP IN

TOOR DAL, URID DAL PRICES ARE INCREASING DUE TO GAP IN

According to the 1st advance estimate of the Ministry of Agriculture for Kharif crops of 2023-24, Toor
production is estimated at 3.42 million tons which is almost similar to previous year’s production. The area under
Urid is estimated at 3.07 million hectares, as compared to the previous year’s 3.10 million hectares. Total annual
requirement of Tur dal is 4.5 million tons according to IPGA. India will import 12 lakh tons of Tur dal for the year
according to the news sources. Prices have been came down slightly at the time of new crop arrivals, but now again increasing.

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PALM OIL MAKE GOOD EARLY LOSSES ON PRODUCTION CONCERN

PALM OIL MAKE GOOD EARLY LOSSES ON PRODUCTION CONCERN

Malaysian palm oil as on 5-2-2024 mid-day break decreased by RM 2 or 0.05% to RM 3762 ($ 791.33)
per ton (for April delivery). Malaysian palm oil production and inventories are expected to fall. Stocks expected to
fall by (January) 6% and production in expected to fall by 9%. Malaysian palm oil stocks in January 2024 expected
to fall by 6.62% to 2.14 million tons, according to Ten trader Reuter’s survey. Output of CPO estimated to fall to
1.37 million tons, a 11.83% from December 2023.

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INDIA’S PALM OIL IMPORTS FELL 3 MONTHS LOW (JANUARY)

Palm oil imports to India in January 2024 expected to fall 3 month low due to increased importing of rival
soy oil to negetive margins for CPO, according to dealers estimate January 2024 palm oil import to India fell by
12% from December 2023 to 787,000 tons according dealers estimates. CPO imports fell by 16% to 541,000 tons
as compared to December 2023. Soy oil prices are highly competitive as compared with palm products and soy oil
imports increased. Soy oil imports for January 2024 increased from previous month by 24% to 190,000 tons and
are far below than monthly average of 306,000 tons. In the last market year ended October 31st, 2023. Total edible oil imports by India were down by 9.2% to 1.19 million tons due to lower imports of palm oil and sunflower oil.

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RICE TRADERS HAVE TO DECLARE WEEKLY STOCK POSITION

RICE TRADERS HAVE TO DECLARE WEEKLY STOCK POSITION

Traders have been ordered to declare their Rice, Paddy(traders, including wholesalers, retailers and big

chain retailers in all states and other union territories) . Stocks on weekly basis evey Friday on the Portal of Depart-
ment of Food and Public Distribution according to the news sources. The stock position of rice shall be declared by

these entities within 7 days of issue of the order, the Ministry said in a statement. Domestic price of rice is increasing
despite a good crop this Kharif season, ample stocks with FCI as well as pipeline for procurement and restrictions
on exports. The Central Government is also launched retail sale of rice under ‘Bharat Rice’ brand at the price of

Rs.29 per kg to check the price rise. Bharat Rice is available in 5 kg and 10 kg bags and will be sold through 3 Co-
operatives National Agricultural Co-operative Marketing Fedaration of India Ltd (NAFED) National Co-operative

Consumers Fedaration of India (NCCF) and Kendriya Bhandar. It will be also available through other retail chaons
including e-commerce platforms very soon according to Food Secretary Sanjeev Chopra.

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WHEAT PRICES LIKELY TO DECRESE ARRIVALS EXPECTED TO BEGIN FROM AS

WHEAT PRICES LIKELY TO DECRESE ARRIVALS EXPECTED TO BEGIN FROM AS

Ahead of arrivals from newcrop to begin in mid March and April, normal wheat crop in ongoing rabi season,
wheat prices likely to come down according to the trade sources. Wheat prices stable in Kota of Rajasthan. Maize
prices in Davanagere of Karnataka is stable and arrivals to the market also remains steady . Government is planning
to increase maize production by 10% to 42 million tons by 2025-26 from 38 million tons in 2022-23 by initiating
mesures such as crop diversification, clustor development for ethenol plants and including private sector in seed development.

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MALAYSIAN PALM OIL SAW WORST WEEK IN 9 MONTHS ON INDIA’SPLANS TO DECREASE IMPORTS, WEAK RIVALS

MALAYSIAN PALM OIL SAW WORST WEEK IN 9 MONTHS ON INDIA’SPLANS TO DECREASE IMPORTS, WEAK RIVALS

Malaysian palm oil extended losses on Friday 3/2/2024 due to India’s plans to decrease edible oil imports
and to increase oilseeds domestic production to become self-sufficient in edible oil production. At palm oi futures for
April delivery lost RM 36 or 0.95% to 3762 ringgit ($ 797.88) per ton, the lowest closing since January 11th.
Contract lost 6.35% for the week making the sharpest weekly decline since May 2, 2023.

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ROBUSTA COFFEE EXPORTS FROM VIETNAM IN JAN 2024, ROSE 47.6% Y/Y

ROBUSTA COFFEE EXPORTS FROM VIETNAM IN JAN 2024, ROSE 47.6% Y/Y

According Vietnam’s General Statistics its January Robusta coffee exports rose by 47.6% year -on-year to
210,000 MT. Exports fell by 8.7% for the period of Jan-Dec 2023. Vietnam’s coffee production for 2023-24
isexpected to drop by 10% to 1.656 MMT. Conab projected Brazil’s 2024 coffee production would climb by
5.4% year-on-year to 58.1 million bags. Brazil’s Dec Green coffee exports rose 31% y/y to 3.78 million bags.
According to Trade Ministry of Brazil, its Dec 2023 coffee exports rose by 33.7% y/y to 244 MMT.

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DARJEELING TEA OUTPUT SET TO BE LOWEST IN 50 YEARS FOR 2023

Darjeeling tea production is estimated to be lower to 6.1- 6.3 million Kg in 2023, which could be lowest

normal year output in over 50 years according to industry veterans as compared to 6.9 million kilos in 2022, pro-
duction will be lower by 9%, output is expected to be lowest since 3.2 million kgs in 2017. Average realisation

prices are also lower and auction compared to 2022 prices fell 7.6% to Rs.315 per Kg, the lowest since 2015
(Rs.290)

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BLACK PEPPER PRICES WEAK IN DOMESTIC MARKETS OF INDIA ON HIGHER SUPPLY

BLACK PEPPER PRICES WEAK IN DOMESTIC MARKETS OF INDIA ON HIGHER SUPPLY

Black pepper prices have been decreased by Rs.15-20 in recent weeks in India’s domestic markets. Due to
new crop harvest season and supply from imported pepper price have come down. Supply in the domestic markets
have been increased from new crop arrivals as well as imported pepper availability at cheaper prices. Price likely to
increase again when supply declines. Due to lower production in almost all producing countries including India.

Supply is expected to be lower during this year 2024. If supply is lower than demand prices will increase. Invento-
ries from 2023 in global market are also at lower level.

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PALM OIL WEAK ON WEAKER RIVALS

PALM OIL WEAK ON WEAKER RIVALS

Malaysian palm oil April delivery fell by RM 38 or 1% to RM 3760 ($ 795.26) per ton on 1/2/2024 due to
weaker rival edible oils. Palm oil April control fell by RM 18 or 0.47% to RM 3780 ( $ 799.83) per ton as on 2/2/
2024 mid-day break. Malaysian palm oil contract so far in this week fell by 5.9% for the week, which sharpest
decline in a week after May 2, 2023.

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GOVERNMENT SELLS 71 LAKH TONS OF WHEAT AND 1.62 LAKH TONS OF RICE

GOVERNMENT SELLS 71 LAKH TONS OF WHEAT AND 1.62 LAKH TONS OF RICE

Government sells 71 lakh tons of wheat and 1.62 lakh tons of rice so for in open market to keep prices of
the commodities under control. A total of 101.5 lakh tons of wheat and 25 lakh tons of rice have been allocated by
the Government for offloading under open market sales scheme. The first e-auction of rice under OMSS for 2023

was held on July 5, 2023 and till January 24,2024, 1.62 lakh tons of rice have been sold in open market. Till Janu-
ary 24, 2024, 71.01 LMT of wheat have been sold under OMSS.

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INDIA’S SUGAR PRODUCTION TO DROP BY 10% TO 33.05 MMT

INDIA’S SUGAR PRODUCTION TO DROP BY 10% TO 33.05 MMT

India’s sugar production in 2023-24(including the quantity diverted for ethenol production) is estimated to
drop by 10% to 33.05 million tons from 36.62 million tons in the previous year according to ISMA(Indian Sugar

Mills Association) 2nd advance estimate. Due to estimated production drop in Maharastra and Karnataka. Accord-
ing to ISMA gross Sugar production in Maharastra is estimated to drop to 9.99 million tons from 11.85 MMTand in

Karnataka to 4.97 MMT from 6.58 MMT. Uttarpradesh is estimated to produce 11.99 MMT as against 11.89
MMT in the previous year.

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INDONESIA’S PALM OIL REFERENCE PRICE INCREASEDFROM $ 774.93 TO $ 806.40 PER TON

Indonesia set palm oil reference price at $ 806.40 per ton for February an increase from $ 774.93 per ton
according to the news sources. The CPO export tax and leavy will be $ 33 per ton and $ 85 per ton, respectively.
Malaysian palm oil for April delivery fell by RM 47 or 1.22% to RM 3795 ($ 802.83) per ton as on 31/1/2024
closing. Exports of Malaysian palm oil products fell by 9.4% to 1,227,101 tons in January according to Amspec
Agri Malaysia and according to Intertek Testing Services estimates exports fell by 6.7% to 1,286,509 tons.

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2024 BUDGET HIGHLIGHTS – NO CHANGE IN TAX RATESTARGET FOR HIGHER CAPEX AND LOWER FISCAL DEFICIT

Union Finance Minister Nirmala Sitharaman presented Interium Budget 2024 today 1/2/2024. Offering a
vision for the next 5 years, Mrs. Nirmala Sitharaman predicted unprecedental growth, announcing a 11.1 lakh crore
Capital Expenditure for the next financial year, reflecting on 11% increase from the current year. Government aims to
reduce the fiscal deficit target to 5.1% of GDP in the upcoming fiscal year, further aiming for 4.5% in the fiscal year
2026. Same rates of direct and indirect tax including import tax retained. Tax break up for start-up, investments
made by soverign wealth funds extended to March 31, 2025. Government to withdraw old disputed direct tax
demands up to Rs.25000 till fiscal year 2009 and Rs.10000 for 2010-2011 to 2014 – 2015. It will expected to
benefit 1 crore tax payers. Allocation of 255 lakh for 3 major railway corridors. Under PM Gati Shakthi to improve
logistic effeciently and reduce cost. 40000 normal train bogies to be converted into high speed Vande Bharat ones.
PLI scheme gets Rs 6200 crore, 4 crore converted under PM Fasal Bima Yojana. Government to launch Blue
economy 2.0 to promote aquaculture with implementation of P.M Matsya Sampada Yojana to be stepped up to
enhance aquaculture productivity double exports and generate more jobs. Direct financial assistance to 11.8 crore
farmers under PM- Kisan Yojana. 2 crore houses to be built under PM Avas Yojana. Healthcare facilities under
Ayushman Bharat will be extended to all Asha workers, Anganawadi Bharat. Plans to set up hospitals in all districts.
Saksham Anganwadi and Poshan 2.0 to be expedited for improved nutrition delivery, early childhood care and
development.

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CORIANDER PRODUCTION ESTIMATED TO BE LOWER BY NEARLY 30%

CORIANDER PRODUCTION ESTIMATED TO BE LOWER BY NEARLY 30%

India’s coriander production for 2024-25 (March to February) is estimated to be lower by nearly 30% at
3.67 lakh tons according to the news sources. Now prices are lower due to higher stocks in the market. Prices
likley to increase after depleting of stocks, as lower production likely to support prices.

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Dry red chilly prices significantly dropped across key domestic markets due to increase in production on
increased sowing area of almost all growing regions. Increased sowing and crop growth have lead to a significant

price drop. Stocks of old crop is said to be 50% lower for the year. Now prices looks to be stable and vary ac-
cording to arrivals quantity.

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MAIZE PRICES LOWER ON WEAK DEMAND

MAIZE PRICES LOWER ON WEAK DEMAND

Maize prices fell by Rs.100 per kg in Davanagere of Karnataka as demand is lower on increased arrivals
from Tamilnadu. Maize exports from India almost halfed since December 2023 as domestic prices are significantly
higher than global market prices. India usually exports around 250000 to 3 lakh tons of Maize every month but in
December exports fell to 30000 tons according to news sources. Prices are likely to remain higher as import
restrications are on.

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CHINA’S SOY OIL, SOYAMEAL FUTURES FELL OVER 6 MONTH’S LOW

Soy oil prices on Dalian exchange of China fell for a 3rd consequtive session and soy meal prices also
declining as slowing demand and growing South American supply. Soy oil contract for May delivery (Dalian) fell by
3.8% to a 7 month low of 7204 Yuan ($ 1003.79) per ton ( a biggest decline in a day more than a year) Soya meal

contract fell for a 4th straight session to 2944 Yuan ($ 410.21) per ton, which is lowest since July 2023. US Soy-
bean futures fell to 2 years low pressured by improving South American harvests and slowing demand from top

global buyer China.

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PALM OIL FELL WEAKER RIVAL OILS AND STRONGER CURRENCY

During mid-day break on 30/1/2024 Malaysian palm oil futures fell by 1.52% or RM 60 to RM 3888 ($
822.68) per ton on weaker rival edible oils and stronger ringgit v/s Dollar exchange rates. Soy oil decline by 2.97%
in Dalian and by 0.42% in Chicago. Due to higher supply expectations Chicago Soy bean futures touched 2 year’ s low.

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ARECANUT PRICES DROP AGAIN DUE TO AVAILABILITY OF IMPORTED ARECANUT

ARECANUT PRICES DROP AGAIN DUE TO AVAILABILITY OF IMPORTED ARECANUT

Arecanut prices for New Chali, Choll and Koka varieties dropped again by Rs.10 to Rs.20 per kg in major
markets. Availability of illegally imported arecanut evading taxes at higher quantity is one of the reason for the price

drop according to the news sources. Prices have been droping symaltaneously even though the production is ex-
pected to be lower for the year due to advers affect of the climate.

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INDIA’S RICE EXPORT RATES AT RECORD HIGH ON TIGHT SUPPLY

INDIA’S RICE EXPORT RATES AT RECORD HIGH ON TIGHT SUPPLY

India’s paraboil rice export prices reached record high on tight supply, steady demand from several coun-
tries of Asia and Africa. Prices moved from $ 525-$ 535 to $ 533 to $ 542 per ton. Supplies are limited as Govern-
ment procuring major quantity of paddy. India’s rice production is expected to drop on this year for the first time in last 8 years.

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SUGAR SALES QUOTA FOR FEBRUARY 2024 AT 22.L.H

SUGAR SALES QUOTA FOR FEBRUARY 2024 AT 22.L.H

Government fixed 22 lakh tons sugar domestic sales quota for the month of February 2024 today 29/1/
2024 according to the news sources. During February 2023, Government alloted 21 LMT as domestic sales quota.
Prices likely to remain steady to firm during February 2024 according to the trade sources.

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PALM OIL DROP ON WEAK RIVAL OILS

PALM OIL DROP ON WEAK RIVAL OILS

Malaysian palm oil futures drop by mid-day break as on 29/1/2024 due to weaker rival edible oils and
profit booking. Futures drop by (April delivery) RM 52 or 1.29% to RM 3965 ($ 838.44) per ton. Soy oil futures
fell by 1.82% in Dalian market and by 0.82% in Chicago. Palm oil prices likely to remain firm.

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GROWING CASHEWNUT CONSUMPTION IN EUROPE

GROWING CASHEWNUT CONSUMPTION IN EUROPE

Europe is the largest global importer of processed cashew nut (kernels), which is accounting for 40% of
global imports in 2022. Both plain cashew kernels as well as value added cashew kernels are consumed and their
consumption is increasing (growing). Raw Cashew nut production in West African countries are accounting for 50%
of the global output in 2022-23 followed by India 15%, Cambodia 14%, Vietnam 9% , East Africa 6% and Brazil
3%, Indonesia 2% are global Cashewnut production shares. Raw production is West Africa and East African

countries increasing significantly but due to lower processing capacity they are exporting nearly 90% of the produc-
tion in the form of Raw cashew nuts.

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MAIZE PRICES LIKELY TO COOL DOWN DUE TO HIGHER PRODUCTION,

MAIZE PRICES LIKELY TO COOL DOWN DUE TO HIGHER PRODUCTION,

Maize prices in the domestic market on India have been started to come down and are likely to cool down due
exports from India have been significantly reduced and higher output. Higher production could cool down prices.
Leading importers are importing from South American countries due lower price from Indian maize. Higher supply in
the domestic market supported prices to cool.

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PALM OIL TO 4 MONTHS HIGH 3RD CONSEQUESTANT WEEKLY GAIN

PALM OIL TO 4 MONTHS HIGH 3RD CONSEQUESTANT WEEKLY GAIN

Malaysian palm oil for April delivery on 26/1/2024 friday rose by RM 27 on 0.68% to RM 4021 (crossed
RM 4000 mark $ 851.01) per ton due to tighter output. Exports in the period of January 1-25 rose by 0.64% to
1,064,778 tons from 1,057,955 tons in earlier month according to Cargo service Intertek Testing Services and other
Cargo Surveyor Amspec Malaysia, exports from Malaysia lower by 8.5%. For the week palm oil gained by 2.8%

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CHICAGO CORN PRICES AT 2 WEEK HIGHER ON POSSIBILITY OF LOWER

CHICAGO CORN PRICES AT 2 WEEK HIGHER ON POSSIBILITY OF LOWER

Chicago corn futures edged higher to close to 2 weeks highest level due to concern over lower
production in Brazil. During last week corn market dropped to 3 years low. In India strong demand for maize (corn)
tightened supplies and prices have been increased. Live stock feed sector’s corn demand in India is expected to
grow by 2 million tons during this year, according to the news sources. Nithi Aayog member Ramesh chand stressed

on the need to increse maize yeilds to meet the demand for ethenol production. In view of fall in sugarcane produc-
tion, the government is encouraging for more grain based ethenol production especially from maize according to the

news sources.

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PALM OIL PRODUCTION TO BOAST FROM ENTRY OF FOREIGN WORKERS

PALM OIL PRODUCTION TO BOAST FROM ENTRY OF FOREIGN WORKERS

Malaysian Government would allow plantations to hire foreign workers, which would likely to boast plam oil
production. Palm oil output could rise by 5.2 million tons in fresh fruit bunches this year, if the half of 40000 workers
(shortage of 40000 workers) were allocated for harvesting duties. Soya bean supplies likely to increase due to south
American countries, Brazil and Argentina’s record production.

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GLOBAL PULSES CONFERENCE 2024 ON FEBRUARY 14-17, 2024

GLOBAL PULSES CONFERENCE 2024 ON FEBRUARY 14-17, 2024

Global pulses conference will be held from February 14th to 17th (4 days) 2024 in Delhi, Jointly organised
by National Agricultural Co-Operative Marketing Fedaration of India Limited and The Global Pulse Confederation
(NAFED and GPC) . About 800 representatives of Governments, commercial and non-profit organisations involved
in the production and processing of pulses will attend the conference according to the news sources. India hosting
pulses conference after 18 years. Various aspects of pulses such as trade and sales, about the pulses markets,

opportunity, production etc., will be discussed and experts in the field are experted to share their views and experi-
ences with various stockholders and policymakers.

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PALM OIL ROSE PRODUCTION ISSUES BY RAIN

PALM OIL ROSE PRODUCTION ISSUES BY RAIN

Malaysian palm oil rose on production concerns in Malaysia and Indonesia due to heavy rains and higher
deman from China. Malaysian palm oil futures as on 24/1/2024 early trade rose by RM 19 or 0.48% to RM 3967
($ 838.16) per ton. Stronger rival edible oils supported prices. Rain forecasts in Malaysia and Indonesia raised concerns about production. Prices recorded 2 months high.

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CASHEWS GLOBAL TRADE EFFECTED BY ATTACKS ON SHIPS IN RED SEA AREA

CASHEWS GLOBAL TRADE EFFECTED BY ATTACKS ON SHIPS IN RED SEA AREA

Howthi rebels are attacking ships in red sea area, which is effecting the import export trade of cashew from
India. India cashew factories depending on imparted raw cashewnuts for the processing and production of cashew
kernels. Many cashew industries in coastal area of Mangaluru and Dakshina Kannada districts are facing trouble for
the imports of raw cashewnuts. Ships are compelled after their rates sailing through Cape of Good hope in South Africa and have to incur $ 2000 per container for shipping charges.

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CORN USE FOR PRODUCTION OF ETHENOL ESTIMATED TO RISE

CORN USE FOR PRODUCTION OF ETHENOL ESTIMATED TO RISE

USDA increased it’s forecast of 2023-24 corn use in ethenol production. U S corn production is estimated
at Record 15.3 billion bushels due to record yeild of 177.3 bushels per acre. Soya bean use in the production of
bio-diesel have been increased in Brazil. If higher quantity of maize used for the ethenol production then prices are also likely to rise.

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PALM OIL ROSE ON PRODUCTION CONCERN, WEAKER CURRENCY

PALM OIL ROSE ON PRODUCTION CONCERN, WEAKER CURRENCY

Malaysian palm oil for April delivery rose by RM 55 or 1.41% to RM 3959 ($ 836.47) due to weaker
ringgit, production concern due to adverse climate effect. (Production likely to lower). Weaker rival oils discouraged
further rise. Malaysia’s February CPO export duty for February is at 8% and palm oil refference price has been
lowered (February) RM 3571.31 per ton from RM 675.50 per ton.

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MAIZE PRICES STEADY IN LEADING MARKET

MAIZE PRICES STEADY IN LEADING MARKET

Maize prices steady in Davangere of Karnataka and Purnea of Bihar due to good demand and higher
arrivals. New crop arrivals begin in Tamilnadu and prices likely to remain steady to weak. India’s corn exports have
almost halted, since last month due to higher domestic prices on strong demand from the poultry and ethenol industry fields. India’s maize prices are higher than global prices.

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MALAYSIAN PALM OIL MOVED TO 2ND WEEKLY GAINS

MALAYSIAN PALM OIL MOVED TO 2ND WEEKLY GAINS

Malaysian palm oil recorded 2nd consequent weekly gains on stagnant production and stronger rival edible
oils. April delivery rose RM 45 or 1.16% to RM 3940 ($ 835.63) per ton at closing on 19/1/2024 and contract
was up by 2.18% for this week extending 4.7% gain from last week. Malaysia’s crude palm oil (CPO) production is
estimated at 18.75 million tons for 2024 up by 1% from last year, as the labour situation imposed in Malaysia.
Dalian’s soy oil contract up by 2.2% and palm oil contract up by 2.37% . Soy oil prices on Chicago were up by
0.52%.

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GOVERNMENT WHEAT STOCKS AT 7 YEARS LOWEST LEVEL

GOVERNMENT WHEAT STOCKS AT 7 YEARS LOWEST LEVEL

Government wheat stocks in godowns are at 7 years lowest level but have been over and above the mini-
mum buffer levels. According to the FCI and State Agencies the godowns had 163.5 lakh tons of wheat as of

January 1st 2024, the lowest for this date since 137.5 lakh tons of 2017. Minimum buffer level is 138 lakh tons with
3 months of operational requirement of 108 LT and additional 30 LT of requirement in case of procurement shortfal.
During current year wheat sowing area is at 336.96 lakh hectares up from last years 335.67 lakh hectares and the
normal 5 years average of 307.32 lakh hectares.

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PALM OIL ROSE ON INCREASED CHINA DEMAND

PALM OIL ROSE ON INCREASED CHINA DEMAND

Malaysian palm oil futures for April delivery rose by RM 51 or 1.34% to RM 3866 ($ 820.11) per ton on
robust demand from China and higher crude oil price even though mixed demand from India caped gains. Higher
demand from China on account of Lunar new year lift palm oil price, firm petoleum crude oil prices supported palm
oil price. Some buyers from India opted soft edible oils such as Soy oil. Malaysian currency rose by 0.02% against American Dollar.

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COFFEE PRICES ON INCREASE DUE TO TIGHTER GLOBSL SUPPLY

COFFEE PRICES ON INCREASE DUE TO TIGHTER GLOBSL SUPPLY

ICE monitered Robusta coffee global inventories fell to a record low of 3113 lots and also seen Arebica
coffee inventories fell to a 24 year low of 224,066 bags on November 2023, although they record modestly to a 6

week high of 261,446 bags recently. Prices are increasing on tighter global supply. Supply of Arebica coffee increas-
ing from Brazil and production in Colombia forecasted to climb +7.5% year on year to 11.5 million bags. USDA

estimates that Brazil 2023-24 Arebica coffee production would increase by 12.8% year on year to 44.9 million
bags. Robusta coffee production in Vietnam is estimated at 1.656 MMT the smallest crop in 4 years.

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BLACK PEPPER PRICES LIKELY TO INCREASE ON WIDE SUPPLY DEMAND GAP

On the estimates of lower global production of black pepper for 2024 and depleting stocks in major pro-
ducing countries demand and supply gap could be widen in coming days. Supply to the markets could be higher in earlier months of 2024 as harvesting season is on. Then supply likely to be lower after 2nd quarter

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IMPORTS OF MAIZE LIKELY TO MEET ETHENOL PRODUCTION NEEDS

Maize has noted as main commodity to produce ethenol. After restrictions to sugarcane for the use of
ethenol production maize has come to forefront to ethenol production. To meet the Government’s blending target of
ethenol for 2023 corn may be used to produce ethenol and then demand for corn and maize could increase. India may import maize(corn) ro meet the increasing demand.

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US CORN PRODUCTION RECORD HIGH, STOCKS HIGHEST SINCE 5 YEARS

US CORN PRODUCTION RECORD HIGH, STOCKS HIGHEST SINCE 5 YEARS

According USDA data United States corn production was record high and stocks are at 5 years highest
level. Corn crop harvests were bigger than previous estimates. Production is at record 15.34 billion bushels, up
marginally of 1.3% larger than the 2016 crop of 15.15 bushels. Maize prices in Davangere of Karnataka lower by Rs.20 per quintal due to rise in arrivals from 2700 bags to 3000 bags. Prices expected to rise due to demand expected to be increase.

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PALM OIL SLIPS ON WEAKER CRUDE OIL

PALM OIL SLIPS ON WEAKER CRUDE OIL

Malaysian palm oil futures opened lower as on 17-1-2024 due to slap in petroleum crude oil prices as it had
effected investors sentiment. Palm oil contract for April delivery lost RM 27 or 0.70% to RM 3835 ($ 814.74) per
ton on early trade. Chicago Soy oil prices down by 0.63% , Palm oil exports from Malaysian for the period January

1-15 were estimated to be down by 2.6% at 604,474 tons from December 2023, (Independent Inspection Com-
pany Amspce Agri Malaysia). Data from Cargo surveyor intertek testing services showed that exports for the said period rose 6.5% to 629,918 tons.

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VIETNAM’S PEPPER EXPORT VOLUMES ROSE IN 2023, VALUE LOWER

Vietnam’s pepper exports volume in 2023 have been rose by 16.6% to 267,000 tons and value dropped by
6% to USD 912 million, according to news sources. Due to lower average export price the total export realisation
have been came down to US $ 3420 per ton lower by 19.4% from the price in 2022. Pepper exports from Vietnam
in 2024 are expected to remain lower due to lower domestic production and availability according to Vietnam
Pepper and Spices Association.

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MAIZE PRICES REMAIN HIGHER DUE TO RISE IN DEMAND

MAIZE PRICES REMAIN HIGHER DUE TO RISE IN DEMAND

Maize prices have been increased from few months and remained higher due to higher demand from various sectors such as live stock feeds producers, starch producers, food industries, starch producers, food industry and ethenol producers. Maize prices remained higher in almost all key markets of India.

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SUGAR PRICE STEADY TO WEAK

SUGAR PRICE STEADY TO WEAK

Sugar trading steady to weak in leading markets due to lack of more demand and crushing season keeping pressure on prices. Sufficient availability in the market kept prices under check.

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INDIA EXTENDS LOWER IMPORT DUTY ON EDIBLE OIL TILL MARCH 2025

INDIA EXTENDS LOWER IMPORT DUTY ON EDIBLE OIL TILL MARCH 2025

India extended lower import duty on edible oil by one year upto March 31st 2025, which was originally set
to expire on 31st March 2024. ( Lower import duty on crude palm oil, crude sunflower oil and crude soy oil) The Government imposed a 50% duty on exports of molasses, a by-product of sugarcane used as raw material for
alcohol production with effect from January 18. Malaysian palm oil for April delivery rose by RM 49 or 1.29% to RM 3849 ($ 821.91) by mid-day today 16/1/2024.

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qwqwe

RATES FOR 100KGS :ZXcvghnm,. TOORTOOR ARRIVALS 4700-5000 BAGS TRADED TOOR : 9400-9500TOORDHAL GENERAL PHATKA : 13400-13500TOORDHAL SORTEX : 14000-14100TOOR DHAL SAVA NO SORTEX : 13000-13100TOORDHAL SAVA NO GENERAL : 12200-12400 ORIDORID DHALL : 12800- 12900ORID DHALL...

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INDIA’S DECEMBER 2023 EDIBLE OILS IMPORTS LOWER BY 16% TO 13.07 LT-SEA

INDIA’S DECEMBER 2023 EDIBLE OILS IMPORTS LOWER BY 16% TO 13.07 LT-SEA

India’s December 2023 edible oil imports fall by 16% to 13.07 LT from the year ago period, according to
the Solvent Extraction of India’s data. CPO imports declined to 620,020 from 843,849 tons while RBD (Refined
Bleached Deodorised) Palmolien’s import lower marginally from 256,398 to 251,667 tons. Crude Sunflower oil
imports increased from 194,009 during year ago to 260,850 tons.

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PALM OIL ROSE FOR THE 7TH STRAIGHT SESSION

PALM OIL ROSE FOR THE 7TH STRAIGHT SESSION

Malaysian palm oil futures for March delivery rose 7th straight session by RM 60 or 1.58% to RM 3584 ($ 829.71) per ton, supported by the rival edible oils. Palm oil gained by 4.67% weekly which is highest since Decem-
ber 8. Lower palm production data continuous strength in rival oils supported palm oil price.

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FOR REPLANTING OF PALM TREES IN 2023, INDONESIA APPROVED 53012 HECTARES

Indonesia approved 53012 hectares of land of plant palm trees in 2023 against the target of 180000 hect-ares to replant every year to boast palm oil production without cleaning more forest according to the news sources.
According to exports, Indonesia urgently needs to replant palm trees as palm oil yields have been falling while
demand rising.

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RICE PRICES INCREASING ON LOWER OUTPUT, ADVERSE WEATHER

RICE PRICES INCREASING ON LOWER OUTPUT, ADVERSE WEATHER

Rice prices of both Basmati and non-basmati and non-basmati sona masuri varieties have been significantly
increased due to lower output in Kharif crop season and adverse climate effect for rabi crop season. Government
planning to release rice in open market in the name of Bharath Rice to control increasing prices, as per news
sources.

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PALM OIL EDGES UP ON RIVAL OIL SUPPORT

PALM OIL EDGES UP ON RIVAL OIL SUPPORT

Malaysian palm oil futures edges up on rival oil’s price support by RM 10 or 0.27% to RM 3692 ($
793.98) per ton as on 8/1/2024 mid-day break. Palm oil prices rose by 0.74% in Dalian market and soy oil by
0.51% at Chicago Soy oil rose by 0.4%.

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SUGAR RECOVERY OF PRODUCTION STANDS AT 9.17%

SUGAR RECOVERY OF PRODUCTION STANDS AT 9.17%

As of December 31st, 2023, Indian Sugar Mills produced 11.2 million tons of Sugar with the recovery rate of 9.17% bt crushing 122.3 million tons of sugarcane. With the increase in average recovery rate from sugarcane, sugar production likely to increase from the earlier estimates. Sugar recovery rate from cane is higher at 9.65% in
Uttarpradesh, following by 9.10% in Karnataka, 8.95% in Maharastra, 9% in Gujarath.

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MAIZE PRICES STEADY, WHEAT PRICES UP

MAIZE PRICES STEADY, WHEAT PRICES UP

Maize prices steady in Davanagere of Karnataka and arrivals to the market unchanged at 1000 bags per
day. Maize prices steady in Purnia, Bihar arrivals are also steady at 1000 bags per day.

Wheat prices rose in Kota, Rajasthan and steady in Indore, Madhyapradesh. Arrivals steady in Kota and up in Indore.

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PALM OIL GAINED ON LOWER OUTPUT

PALM OIL GAINED ON LOWER OUTPUT

Malaysian palm oil futures as on 5/1/2024 closing gained by RM 24 or 0.7% to RM 3681 ($ 791.27) per
ton due to expectations of lower production. Inventories as on December end likely to shrink further. India’s palm oil imports during December 2024 rose highest in 4 months. Soy oil Chicago prices rose 0.5%.

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PALM OIL ROSE ON EXPECTATION OF LOWER PRODUCTION

PALM OIL ROSE ON EXPECTATION OF LOWER PRODUCTION

Malaysian palm oil rose for the 2nd straight day by RM 12 or 0.3% to RM 3669 ($ 789.54) per ton on expectation
of lower output of crude palm oil by mid-day on 5.1.2024. Chicago Soy oil price up by 0.5%. Hot dry weather in
Brazil had raised concerns on Soybean production.

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LOWER GLOBAL PRODUCTION DUE TO ADVERSE CLIMATE LIKELY TO PUSH BLACK PEPPER PRICES UP

LOWER GLOBAL PRODUCTION DUE TO ADVERSE CLIMATE LIKELY TO PUSH BLACK PEPPER PRICES UP

Black pepper global production in ongoing current season in anticipated to further drop due to adverse climate effect
in major producing countries. Lower global production likely to drive prices up in Vietnam, after lunor new year,

harvest of black pepper in full sowing and output quantity picture will be available and if production remains signifi-
cantly lower prices likely to increase further. Increase of price in global market likely to effect domestic pepper
prices in India. Vietnamese Pepper prices will have better influence on global pepper market.

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WHEAT PRODUCTION IN INDIA LIKELY TO REACH RECORD 114 MMT IN 2023-24

WHEAT PRODUCTION IN INDIA LIKELY TO REACH RECORD 114 MMT IN 2023-24

India’s wheat production in ongoing current 2023-24 year likely to reach a record 114 million tons on higher cover-
age and if weather conditions remain normal according to the top food ministry official, as per news sources. Wheat

production stood record 110.55 million tons in 2022-23 as composed to 107.7 million tons in 2021-22. Sowing
area is expected to increase in ongoing rabi season.

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GLOBAL CASHEW DEMAND INCREASING ON AWARENESS OF NUTRITIONAL BENIFITS

GLOBAL CASHEW DEMAND INCREASING ON AWARENESS OF NUTRITIONAL BENIFITS

Due to awareness of nutritional benefits of cashew and rising awareness on health consciousness, demand
for cashew kernels, remain increasing both in domestic and global markets. Demand increasing especially in western
countries. Many factors such as logistic costs, supply chain challenges, production inefficiencies fluctuattions in drop
yeilds due to adverse climate effects, and economic resession have impacted on prices. Trade policies of countries
and international relations between exporting countries also playing important roles intrading. Weather in growing
areas of countries may deside production of Raw cashew nuts in current year, which may effect prices. Countinous
changing weather in growing regions may effect RCN production.

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MALAYSIA’ S DECEMBER AND PALM OIL STOCKS TO DROP

MALAYSIA’ S DECEMBER AND PALM OIL STOCKS TO DROP

Malaysia’s palm oil inventories at the end of December estimated to drop despite lower exports, due to lower
production according to Reuters survey. Inventories are expected to drop by 2.38% from November to 2.37 million
tons for the 2nd consequitive month according to the medium estimate of 12 traders, planters and analysts polled by
Reuters. Crude palm oil (CPO) production of Malaysia expected to drop to 1.6 million tons (-10.31%) decline from
November, according to Mumbai based commodity research head, Anil Kumar Bagani. Exports likely to dropped
by 4.39% to 1.34 million tons. Malaysian palm oil futures for March delivery rose by RM 15 or 0.4% to RM 3636
($ 784.13) per ton after 4 session drop as on today 4/1/2024 mid-day break.

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ONION EXPORTS INCREASED BY 65% IN 2022-23

ONION EXPORTS INCREASED BY 65% IN 2022-23

India has exported 2.5 million tons of Onion during 2022-23 which record high by 65% from its previous
year. Government has imposed export restriction due to prices have been rose to high due to lower production.
Now prices have fallen to the level of pre export restriction level and if prices continue to fall Government may
review the export restriction and may alow exports. Government has procured 25,000 tons of Onion for their
bufferstock from the current kharif crop.

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SUGAR SALES QUOTA FOR JANUARY 2024 IS AT 23 LMT

SUGAR SALES QUOTA FOR JANUARY 2024 IS AT 23 LMT

Government has fixed 23 LMT monthly sugar sales quota for domestic sale in 2024 in a notification , which is higher
by 1 LMT allocated during January 2023. Sugar prices have been come down in recent days and likely to stabilise.
All sugar mills are informed that all sugar mills have to register and fill online P-11 on National Single Window
System(NSWS) portal (https://www.nsws.gov.in). If the sugar mill does not fill online information of NSWS portal
for the month fo December 2023, by 10 January 2024, domestic quota for February 2024 will not be released to
the mills. All the sugar mills/distilleries are informed that information relating to ethenol production form B-Heavy,

Sugar syrup, Sugarcane Juice shall also be filled on NSWS portal in the P-11 from itself according to the notifica-
tion.

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INDIA’S DECEMBER 2023 PALM OIL IMPORTS AT 4 MONTH HIGH

India’s palm oil imports during December 2023 rose to the highest level, since 4 months as import of refined
palm oil increased due to its lower prices. India’s December palm oil imports higher by 1.9% from November to

886,000 tons according to the dealers estimates. Refined palm oil imports jumped by 47% to 252,000 tons, Sun-
flower oil imports in December more than double to 263,000 tons, highest in 3 months according to their estimates.

Higher imports of palm oil and sunflower oil effect total imports of edible oil to India to 1.3 million tons, which higher
by 13.3% from November 2023. Soy oil imports in December rose by 1.4% from November 23 to 152,000 tons
but for below the average imports of 306,000 tons, due to negetive refining margins and higher premium over

alternative edible oils. Malaysian palm oil futures fell by RM 43 or 1.2% to RM 3617 ($ 780.87) per ton to by mid-
day break today 3/1/2024 . Rival edible oil Soybean oil prices are also lower due to weak demand.

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PULSES IMPORTS BY INDIA MAY TOUCH 3 MILLION TONS AT 6 YEARS HIGH

PULSES IMPORTS BY INDIA MAY TOUCH 3 MILLION TONS AT 6 YEARS HIGH

Pulses imports by India during current year seen rebounding to a 6 year high on shortfall in domestic pro-
duction due to adverse climate effect. According to trade estimates pulses imports likely to touch 3 million tons in

current financial year, an increase of 31% over last year 2.29 million tons. According to DGCIS data, India has
already imported 1.96 million tons of Pulses during April – October 2023 valued 14,057 crores ($ 1.69 billion) of
this lentils is reported to have crossed 1 million tons. According to trade expectation Chana production during
current year to be lower by 10-15% due to drop in acreage.

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PALM OIL FELL 2 WEEK LOW ON WEAK EXPORT, WEAK RIVAL OILS

PALM OIL FELL 2 WEEK LOW ON WEAK EXPORT, WEAK RIVAL OILS

Malaysian palm oil futures fell by RM 36 or 1.05% to RM 3681 ($ 800.22) per ton (2 weeks low) on weak
export data, higher supply of rival edible oils, especially Soybean oil at lower prices. India is expected to be $ 17.1
billion during 2023, which is lower by 18%, from last year due to lower global veg oil prices. Vegetable oils, Pulses
fresh and dry fruits account for 72.1% of Agricultural imports of India in year 2023.

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RABI PULSES SOWING AREA LOWER BY 11 LAKH HECTARES

RABI PULSES SOWING AREA LOWER BY 11 LAKH HECTARES

Pulses sowing during rabi season current year have been lower by 11 lakh hectares consisting main pulses
gram sowing area is lower by 9 lakh hectares according to the news sources. Wheat sowing area also lower by 4
lakh hectares. Rabi Paddy, Groundnut and sunflower sowing area also lower. Rabi sowing area under lentils(masur),
mustard, maize and barley has been increased. Pulses sowing area is lower from 153.22 lakh hectares during last
year to 142.49 lakh hectares in current rabi season. Total sowing area is lower at 320.54 lakh hectares from 324.58
lakh hectares during last year rabi season. Paddy sowing is at 14.36 lakh hectares lower from last years 16.57 lakh
hectares. Gram (Chana) has been decreased to 97.05 lakh hectares ( lower by 8.75 lakh hectares from last year).
Sowing area under Urid, horsegram and Moong also are lower from last year’s rabi season.

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INDIA AIMS TO INCREASE BANANA EXPORTS TO $ 1 BILLION IN NEXT 5 YEARS

INDIA AIMS TO INCREASE BANANA EXPORTS TO $ 1 BILLION IN NEXT 5 YEARS

After succesfully exporting a trail shipment of Banans to the Netherlands through sea route, India now aiming
to increase exports of Banana to 1 $ billion next 5 years, according to the sources. At present exports of most of the
fruits from India are happening by air are happing by air route because of lower volumes and different ripening
periods. To increase volumes, India is developing sea protocols for fresh fruits and vegetables, such as Bananas,

Mangoes, Pomogranates and Jackfruit to promote their exports through ocean routes. The protocol includes under-
standing voyage time, scientifically understanding the ripening of these commodities harvesting at a particular time

and training of farmers. These protocols will be different for different fruits and vegetables. The Agricultutal and
Processed Food Products Export Development Authority(APEDA) along with other stockholders, has developed
these protocols for Bananas. With successful trail shipment, India aims to export bananas worth over USD one
billion in the next 5 years. Opening doors to diversified market portfolio through sea route according to the officials.
The trail shipment reached Rotterdam, Netherlands on December 5. The consignment was shipped from Baramati,
Maharastra. India’s Banana export destinations extend beyond the Middle East with potential opportunities in major
global players, such as the United States, Russia, Japan, Germany, China, The Netharlands, The United Kingdom
and France according to the officials. Despite being the world’s largest producer, India’s export share in currently
just 1% in the global market, eventhough the country accounts for 26.45 percent of the world’s Banana production
at 35-36 million tons. In 2022-23 India exported Bananas worth $ 176 million, equivalent to 0.36 MMT. The main
Banana producing states include Andhrapradesh, Maharastra, Karnataka, Tamilnadu, Uttarpradesh and Kerala.
Assistant Professor and Export on Agri Economics Chirala Shanker Rao said that huge export potential for
Bananas is there from Andhrapradesh. APEDA’s continous efforts including B2B exhibitions and development of sea

protocols of other fruits, highlight a proactive approach to boost India’s agricultural exports according to the officials.

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FREE IMPORT POLICY FOR TUR, URID DAL TILL MARCH 2025

FREE IMPORT POLICY FOR TUR, URID DAL TILL MARCH 2025

Government announced there will be no restrictions on imports of Tur and Urad dal until 2025 March, in
order to boost their supply in domestic market and maintain stable prices. The free import policy of urid and tur
stands extended upto March 31, 2025, The Directorate General of Foreign Trade(DGFT) stated in notification.

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MALAYSIAN PALM OIL POSTS 2ND YEARLY LOSSES

MALAYSIAN PALM OIL POSTS 2ND YEARLY LOSSES

Malaysian palm oil on 29th December 2023 is up by RM 5 or 0.13% to RM 3744 ($ 815.69) and posts
2nd consequtive yearly losses, last 10% for the year. December 1-15 palm oil exports from Malaysia is estimated to
be down by 4% to 16% from November 2023, according to the surveyors data of intertek testing services and
Amspec Agro Malaysia. Palm oil prices at Chicago and Dalian were down.

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MAIZE PRICES STEADY, WHEAT PRICES STABLE

MAIZE PRICES STEADY, WHEAT PRICES STABLE

Wheat prices in Kota of Rajasthan prices remains steady. Maize prices in Davanagere remained steady
arrivals were up by 200 bags. Wheat price weak in Chicago due to war risks to shipping. Corn prices also weak in
International market due to rain forecasts in Brazil would increase production prospects.

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PALM OIL WEAK ON WEAKER RIVAL OILS

Malaysian palm oil futures for March delivery lower by RM 10 or 0.27% to RM 3760 ($ 814.91) due to
weaker rival edible oils, but lower production estimates limited the losses. Soy oil futures weak in China’s Dalian
Market and Chicago of United states. Malaysian MYR rose by 0.28% against US Dollar.

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HI TECH POULTRY FEEDS

HI TECH POULTRY FEEDS

HI TECH POULTRY FEED’S

POULTRY MEAL AND PROTIEN POWDER

PROTIEN: 61%
FAT: 18%
MOISTURE: 6%
SAND SILICA: 1.77%

PRICE: 44/KG

ALL ABOVE PRICES ARE EXCLUDING GST & FRIEGHT.

CONTACT:
MR.KESHAVA
8861324177
MR.SIRAJ
7353852323

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LOWER SUGARCANE OUTPUT IN ASIA

LOWER SUGARCANE OUTPUT IN ASIA

S & P Global commodity insights estimates the cane crushing and production of sugar for 2023-24 in
Thailand at 85 million tons and 9.8 million tons. During 2022-23 Thailand has crushed 93.9 tons of sugarcane and
produced 11.02 million tons of Sugar output of India, also lower during current year. S & P Global estimates sugar
production in India for 2023-24 at 32.75 million tons after diversion of 1.8 million tons for ethenol production. Due
to lower production demand is increasing and prices are moving up.

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GOVERNMENT LIKELY TO INTRODUCE “BHARATH RICE” TO CONTROL PRICES

GOVERNMENT LIKELY TO INTRODUCE “BHARATH RICE” TO CONTROL PRICES

Government is considering to release “ Bharath Rice” to the public at the discounted rate of Rs.25 per kg to
control the increasing food prices, if introduced it will be likely to made available through Government agencies such
as Naftal, NCCF and Kendriya Bhandar outlets as well as Mobile vans. Government already supplies Bharath
Chana and Wheat flour at discounted rates through 2000 outlets.

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PEPPER PRICES INCREASED IN VIETNAM ON LOWER OUTPUT AND INVENTORIES

PEPPER PRICES INCREASED IN VIETNAM ON LOWER OUTPUT AND INVENTORIES

Black Pepper prices increased in domestic market of Vietnam due to lower production estimates of 2024
crop and lower inventories and demand from major expert destinations such as Europe and United states decreased
earlier are now showing the signs of recovery. Inventories in Vietnam is said to be only in the hands of traders and
speculators. Prices of Black pepper have been increased significantly during December in the domestic markets of
Vietnam according to the news sources.

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CORIANDER PRICES LIKELY TO INCREASE ON LOWER ACREAGE, HIGHER DEMAND

CORIANDER PRICES LIKELY TO INCREASE ON LOWER ACREAGE, HIGHER DEMAND

Coriander prices likely to increase and remain higher due to lower acrage in key producing states such as
Gujarath and Rajasthan. According Gujarath state agricultural departments data acrage of coriander in the state was down 47.3% year on year at 114,832 hectares. In Rajasthan area of sowing under coriander was at 47353 hect-
ares, lower than half of the acrage in Gujarath according to the news sources. High export demand, besides domes-
tic demand could keep prices higher. Coriander exports in the period of April- October 2023 were up by 272% year-on-year at 70125 tons according to the latest data of commerce Ministry.

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PULSES TRADING AT MORE THAN MSP ON LOWER PRODUCTION

PULSES TRADING AT MORE THAN MSP ON LOWER PRODUCTION

Pulses such as Turdal, Urid dal, Chana dal, Moong dal, lentils are trading at higher prices due to lower than
expected production in Kharif and Rabi crops according to the trade sources. Mostly all pulses are trading at more
than their minimum support price in leading markets. Prices were higher in leading markets such as Latur, Indore ,
Akola and Gulburga. Around 2.5 lakh tons of imported Tur (out of 5 lakh tons) and 3 lakh tons of Tur from
Myanmar have arrived to India. Government will soon start procurement of Tur, which is trading higher than MSP at
present through a dynamic pricing formula.

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GLOBAL COFFEE STOCKS EXPECTED TO HIT THEIR LOWEST IN 12 YEARS IN 2023-24

GLOBAL COFFEE STOCKS EXPECTED TO HIT THEIR LOWEST IN 12 YEARS IN 2023-24

Global coffee stocks in 2023-24 season an expected to hit lowest since 12 years as production will
be close to total use according to USDA. March robusta coffee futures hit highest in 15 years to $ 2964 per ton as
on 21/12/2023. Vietnam robusta coffee prices hit record high in this week. March arebica coffee rose 1.6% at
1.936/lb, hit highest since April on 20/12/2023. USDA cuts its 2023/24 global coffee production estimate to 171.4
million bags from June estimate of 174.3 million bags. USDA also cut its 2023/24 global coffee ending stocks
estimate to 26.5 million bags from a June estimate of 31.8 million bags. Coffee prices also have support on concerns
over ongoing dry weather in Brazil would damage crops. ICE monitered Arebica coffee inventories fell to 24 year
low of 224,066 bags on November 30, 2023. ICE on Thursday monitered robusta coffee inventories were at 3391
lots, just above the record low of 3374 lots posted on August 31.

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CHICKEN, EGG PRICES RISE

CHICKEN, EGG PRICES RISE

Chicken, egg prices have been increased due to higher demand for Christmas and New Year. Poultry
breeders and industrialists expecting demand would further increase. Maize prices in Davanagere of Karnataka fell
by Rs.50 per quintal and arrivals were up by 700 bags. Maize production in European Union expected to increase
in 2023-24 to 64.4 million tons from 59.9 million tons forecast a month ago.

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PALM OIL FUTURES EXTENDS LOSSES

PALM OIL FUTURES EXTENDS LOSSES

Malaysian palm oil futures fell by RM 25 or 0.67% in early trade today 22/12/2023 to RM 3716 ($
802.07) per ton. Soy oil futures up by 0.2% on Chicago Board Soy Bean production in Brazil for 2023-24 is
forecasted to be lower by 5 million tons to 153 million tons from the previous estimates. The USDA estimates that
12.8 billion pounds of Soybean oil or 47% of U S soybean oil production, will be used in biofuels in the 12 months
which began on Oct 1.

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LOWER IMPORT TAX BENIFITS ON CRUDE PALM, SUNFLOWER, SOYA OILS

LOWER IMPORT TAX BENIFITS ON CRUDE PALM, SUNFLOWER, SOYA OILS

Government of India extended lower import tax benifits on crude palm oil, crude sunflower oil and crude
soy oil until March 2025, inorder to control and stabilise edible oil prices in the domestic markets by facilitating the
import of these oils at reduced taxes. Earlier order is set to expire in March 2024, the government order now allows
refiners to continue importing these oils until March 2025.

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ARECANUT PRICES DRAMATICALLY FELL DOWN

ARECANUT PRICES DRAMATICALLY FELL DOWN

Arecanut prices have been dramatically fell down during this week in Mangalore by Rs.10 to Rs.15 per kg for Chali, Choll, New and Patora quality arecanuts. Early ripening of arecanuts have seen during this year and supply
of new supari may be increased. Crops at the end (later) harvests of new arecanut likely be lower than normal due to long dry weather during summer last year. Supplies from choll also likely to reduce in comming month.

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PULSES PRICES LIKELY TO EASE IN 2024, 1ST QUARTER

PULSES PRICES LIKELY TO EASE IN 2024, 1ST QUARTER

Pulses prices such as Tur and Urad likely to ease in 1st quarter of 2024 as the new crop, harvest of these commodities supply increases. Supply likely to improve due to imports also. Tur dal price have been came down in
Myanmar, during recent days. Government has started selling of Chana dal, Moong at subsidised rates. Pulses
prices likely to ease due to various steps taken by the government and expected increase of supply from new crop
harvests and imports.

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MALAYSIAN PALM OIL FUTURES LOWER ON WEAK DEMAND

MALAYSIAN PALM OIL FUTURES LOWER ON WEAK DEMAND

Malaysian palm oil futures today early trade (21/12/2023) lower by RM 38 on 1.01% to RM 3740 ($805.51) per ton due to weak export demand. Soy oil futures on Chicago down by 0.63% . Malaysian palm oil

exports December 1-20 fell 8% to 837,475 tons from 910,513 tons in November 1-20 according to Cargo Sur-
veyor Interteck Testing Services (ITS). Malaysia has maintained its January Crude Palm Oil export tax at 8% and
reference price rised according to Malaysian Palm oil Board website.

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CUMIN(JEERA) ACREAGE IN GUJARATH DOUBLE, HIGHER IN RAJASTHAN

CUMIN(JEERA) ACREAGE IN GUJARATH DOUBLE, HIGHER IN RAJASTHAN

According to State Agriculture department data Jeera(cumin) acrage in Gujarath increased by 102.6% to
530,000 hectares (more than double) from 261,635 hectares in the previous year. Acreage in Rajasthan, the second
highest cumin producing state on India was 668,306 hectares according to the state agriculture department data,

acerage is even higher than Gujarath, the top producing state and last year’s acerage data of the state is not avail-
able. Cumin prices falling due to higher due to higher average and lower demand.

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MALAYSIAN PALM OIL FUTURES UP ON SELLING STOCKS

MALAYSIAN PALM OIL FUTURES UP ON SELLING STOCKS

Malaysian palm oil future today 20/12/2023 early trade rose by RM 32 or 0.85% to RM 3787 ($ 815.46)

due to falling stocks and concerns over lower output because of dryness. Indonesian palm oil exports during Octo-
ber 2023 rose to 3 million tons from 2.7 million tons in September, an increase of 11.4%. CPO exports from

Indonesia rose to 264,000 tons in October from 233000 tons in September, up by 13.3%. Total plam oil exports
from Indonesia in the first 10 months of 2023 seen at 27.6 million tons in quantity and value is approximately $ 23.5
billion according to GAPKI.

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GOVERNMENT DIRECTS TO REDUCE PRICE GAP BETWEEN RETAIL SALE AND

GOVERNMENT DIRECTS TO REDUCE PRICE GAP BETWEEN RETAIL SALE AND

The Government has suggested Rice industry associations in India that were there exists a wide gap between
MRP and actual retail price, the same needs to brought down to a realistic level in order to safeguard the interest of
the consumers. There are reports of a sharp increase in the margins being availed by wholesalers and retailers which
need to be tempered. This statement came after food secretary Sanjeev Chopra convend a meeting with the top

representatives of the rice processing industry, to review the domestic price scenario of non-basmathi rice on Mon-
day. In a meeting it was discussed that the domestic prices of rice are increasing despite good crop this kharif, ample

stocks with FCI and in the pipeline. The prices have been increased despite various regulations in place on rice
exports according to the government statement.

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INDIA’S SUGAR OUTPUT FROM OCT TO DEC 15, FELL TO 74.05 LAKH TONS

INDIA’S SUGAR OUTPUT FROM OCT TO DEC 15, FELL TO 74.05 LAKH TONS

In the current marketing season India’s sugar production dropped to 74.05 lakh tons between the period of
October to Dec 15 from 82.95 lakh tons during the same period of last year, according to Indian Sugar Mills

Association (ISMA). Major producing states Maharastra and Karnataka’s production seen sharp drop in produc-
tion during this period. Karnataka’s production dropped from 19.20 lakh tons in last year’s period to 16.95 lakh

tons in the period of current year ( Y/O/Y decline of 11.71%). Maharastra’s production dropped to 24.45 lakh tons
till Dec 15, of current year. (A decline of 26%). Because of delayed start of crushing season production have been
dropped according to the news sources. Production in Uttarpradesh the 2nd largest producer is estimated to be
higher than last year. During the said period production in Uttarpradesh rose to 22.11 lakh tons from 20.26 lakh
tons, higher by 9.13% in the last year’s corresponding period. Production in Gujarath and Tamilnadu were also
higher during the said period as compared to the period of last year. According to CRISIL rating agency sugar cane
production is expected to be lower by 9% in 2023-24 from last year due to lower rainfall in Maharastra and
Karnataka.

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GHANA RCN PRICE LOWERED DUE TO DECLINE IN QUALITY

The Ghana government has announced a downward review of raw cashew nut price for 2024 crop season
with effect from January 2024. Prices were set at GHC 7 as against the initial price of GHC 8.5 per killo according
to the news sources. Decline in quality is main reason for decreasing prices. Down grade of Ghanian cashew quality
has caused to reduction in price from US $ 1080 to US $ 880 per ton in International Market. Upward review is
possible after 2 months if the quality improves. Ghana is one of the top exporter of RCN in West Africa with about
350,000 tons is expected to be exported in 2024.

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PALM OIL ROSE ON PRODUCTION CONCERNS

PALM OIL ROSE ON PRODUCTION CONCERNS

Malaysian palm oil March delivery rose by RM 37 or 0.94% to RM 3782 ($ 808.64) by mid-day break
today 19/12/2023 due to lower inventories and concerns over dry weather would cause to lower production.
Malaysian palm oil exports between December 1-15 fell by 13.6% from corresponding period of November to
591490 tons according to cargo surveyor ITS. Indonesia’s palm oil exports in October fell by 31% to 3 million tons
from last year October. Soy oil futures at Chicogo were slighty lower by 0.14%. Indonesia plans to set CPO
reference price for Dec 16-31 at $ 767.51 per ton down from $ 795.14 per ton in the period of Dec 1-15.

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CUMIN (JEERA) PRICES WEAK ON EXPORT DEMAND,HIGHER PRODUCTION EXPECTATION

CUMIN (JEERA) PRICES WEAK ON EXPORT DEMAND,HIGHER PRODUCTION EXPECTATION

Cumin(Jeera) prices have been dropped from record higher prices to nearly 50% to lower export demand
and expectation of higher production of higher production in current year. Now export demand are increasing
towards Ramzan festival beginning in March and China also increasing buying at prevailing lower prices according to
the news sources. Prices slighlty moving upward due to short covering. Jeera exports fell by 30% during 1st half of
current financial year to 76969 tons. Due to higher average production likely to increase, domestic and export
demand are lower according to the news sources.

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DOLLAR GRAM PRICE DROP IN INDORE, MOONG PRICES LOWER

DOLLAR GRAM PRICE DROP IN INDORE, MOONG PRICES LOWER

Dollar Gram prices significantly down in Indore mandi significent price fall for Dollar Gram in Indore market
according to the news sources. Moong prices also have been reduced, while Turdal prices gained. Government have
gegun to sell moong dal and gram dal at subsidised lower prices through mobile vans of National Co-operative

Consumers Federation (NCCF) and Kendriya Bhandars. The Government measures helped to increase the avail-
ability of these commodity in the market and prices have been eased.

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FCI INCREASED THE MAXIMUM BID QUANTITY FOR OMSS- RICE

OMSS Rice maximum bid quantity have been increased by Food Corporation of India to 2000 tons from existing 1000 tons and minimum bid quantity have been reduced to 1 ton from 10 tons to encourage more number of
traders and others participation. The Government has been selling rice under OMSS scheme since June 2023 and
quantity of sale is only 1.19 lakh tons, so far according to the news sources. The Government has decided to sell 25
lakh tons under OMSS.

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BYADAGI CHILLIES PRICES DROPPING AS NEW CROP HARVESTS ENTER MARKETS

BYADAGI CHILLIES PRICES DROPPING AS NEW CROP HARVESTS ENTER MARKETS

Byadagi chillies prices (Dry) dropped significantly in recent days as news crop harvested chillies enter to the
markets. Due to favaourable weather and rains crops are said to be good. Increase in cultivation area likely to
increase production. Due to higher prices (almost double from previous season) during last season, farmers were
encouraged to grow in more areas and acreage have been increased. Production during current season likely to increse and prices may remain lower. New crop Dry chillies from Gujarath also entering into the Karnataka markets.

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GOVERNMENT GRANTED SUGAR MILLS TO USE 1.7 MILLION TONS OF SUGAR FOR ETHENOL

GOVERNMENT GRANTED SUGAR MILLS TO USE 1.7 MILLION TONS OF SUGAR FOR ETHENOL

Government of India allows sugar mills to produce 1.7 million tons of Sugar for Ethenol production. Previ-
ously Government directed mills not to use sugarcane for Ethenol production. Now Government has chosen to allow

diversion of sugarcane juice and B heavy molasses for ethenol production upto 1.7 million tons for the year 2023-
24, The quota will be soon allocated to sugar mills and destilleries according to the news sources.

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MAIZE, WHEAT PRICES STABLE ACROSS KEY MARKETS

MAIZE, WHEAT PRICES STABLE ACROSS KEY MARKETS

Wheat, Maize prices unchanged across key domestic markets on sufficient supply and lack of fresh buying activity. Maize prices steady in Davanagere of Karnataka and arrivals fell by 500 bags to 2000 bags. After Government increased the weekly auction quantity, wheat prices eased across key markets.

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PALM OIL FELL FOR THE 4 STRAIGHT WEEK, VEGETABLE OIL IMPORTS DECREASE BY 25%

Malaysian palm oil extended the losses for 4th consequtive week due to slowdown in exports, futures fell by
RM 11 or 0.3% to 3699 ($ 792.42) as on yesterday closing 15/12/2023. India imported 217,847 tons of palm oil
in November 2023 from Malaysia and overall imports of vegetable oils to India rose 13% M/O/M. India has
imported 1.16 million tons of vegetable oils in November as per Solvents Extractors Association of India (SEA)
data. Total palm oil imports in November was at 869,491 tons. RBD palm oil imports rose from 53497 tons in
October to 171,069 tons in November. Total vegetable oil imports decreased from 1.5 million tons in November
2022 to 1.16 million tons in November 2023.

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DOMESTIC RCN PRODUCTION IN VIETNAM MEETS ONLY 30%OF THEIR PROCESSING NEEDS

DOMESTIC RCN PRODUCTION IN VIETNAM MEETS ONLY 30%OF THEIR PROCESSING NEEDS

Domestic Raw cashew nut production in Vietnam meets only 30% of their annual processing requirements,
while 70% is relied on imported RCN from countries such as Indonesia, Cambodia and Africa. Vietnam has become
leader of global cashew processing field by adopting advanced foreign processing technology and topped in world
processed cashew kernels exports. Being the processing global leader Vietnam’s global cashew chain share is only
to the extent of 30%, while remaining are with the international roasting, frying firms and distributors. Cambodia

exported 615,000 tons of Raw cashew nuts between January and October 2023, down by 16.7% from the corre-
sponding period of last year. During first 11 months of 2023 Vietnam has imported 2.66 million tons of cashew

(RCN) valued 3.07 billion US Dollar, which is higher by 46.5% in quantity and 19.2% in value as composed to the
previous years coresponding period according to the news sources. Leading RCN suppliers are Cambodia, Ivory
Coast, Nigeria, Ghana and Tanzania of which supplies from Cambodia and Ivory Coast accounts for 57.5% of total
imports. Imports from Ivory Coast increased by 86.6% in quantity and 56.7% in value as compared with the last
years corresponding period. Imports from Nigeria has increased by 133.2% in quantity and 89.7% in value, from
Ghana increased by 71% in quantity and 45.5% in value. Imports from Cambodia decreased to 613,200 tons,
decrease of 13.8% in quantity and 23.3% in value. Cambodia is still 2nd largest supplier of RCN to Vietnam.
Vietnam have to face challenges as processing of nuts are increasing in raw cashew nut supplying countries.

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INCREASING GLOBAL CONSUMPTION LIKELY TO IMPROVE CASHEW PRICES

INCREASING GLOBAL CONSUMPTION LIKELY TO IMPROVE CASHEW PRICES

Cashew consumption at global level is increasing year by year. Consumption from different fields, sectors are on increase. Exports from Vietnam (processed cashew) have been increased during this year. Global consump-
tion likely to increase further in 2024. Increasing consumption would improve prices from present situation. Exports
from India is significantly decreased in recent years. Adverse climate likley to effect domestic production of raw
cashew nuts.

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PALM OIL PRICES REMAINED STABLE

PALM OIL PRICES REMAINED STABLE

Malaysian palm oil futures largely remained steady during early trade today 14/12/2023 with easing RM 2
per ton after falling significantly yesterday. Due to lower demand prices are lower evenafter lower production and
lower stocks. Weaker petrolium crude price and lower price of rival edible oils are negetive points and lower
production and stocks of palm oil are plus points for the price factor.

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POULTRY SECTOR SEEKS REDUCTION OF IMPORT DUTY ON MAIZE

POULTRY SECTOR SEEKS REDUCTION OF IMPORT DUTY ON MAIZE

The Association Vets in Poultry (VIP) urges government to reduce import duties on maize to improve supply
and control rising prices. Poultry feed accounts for 80% of production costs, higher maize prices in adversely
affecting chicken production. Poultry sector alone consumes 18 million tons of maize, out of production estimate of
35.91 million tons for 2022-23. Exports reduces domestic availability, which would effect prices. Maize is major
ingredient of poultry feeds.

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MAIZE PRICES STEADY, WHEAT PRICES LOWER

MAIZE PRICES STEADY, WHEAT PRICES LOWER

Maize prices steady in Davanagere of Karnataka. Prices likely to ease as harvesting of new crop begun in
Tamilnadu as supply increases and demand from Tamilnadu as supply increases and demand from Tamilnadu likely to drop.
Wheat prices fell in Indore by Rs.50 per quintal due to low demand from millers. Prices steady in
Kota. Wheat prices easing after Government measures such as selling on OMSS and lowering stock holding limits
with traders and stockiests. According to USDA, December estimates India’s wheat production is at 110.55 million
tons and consumption at 108.65 million tons and closing stock at 11 million tons.

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GOVERNMENT MAY REDUCE IMPORT DUTIES ON WHEAT AND GRAM(CHANA)

GOVERNMENT MAY REDUCE IMPORT DUTIES ON WHEAT AND GRAM(CHANA)

Government may reduce existing import duties on wheat and chana to boast their supply in the domestic
market according to the news sources. Current prices of wheat and chana are ruling higher in the domestic market,
even after taking some measures to control prices by the Government. Reduction of import duty may improve
domestic supply of these commodities till the new crop harvests arrives by March or April. Currently international
prices of wheat is lower than domestic market price.

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APRIL-OCTOBER 2023, 2.6 MILLION TONS BASMATI, 7.318 MILLION TONS NON-BASMATI

APRIL-OCTOBER 2023, 2.6 MILLION TONS BASMATI, 7.318 MILLION TONS NON-BASMATI

Rice exports for the period of April- October 2023 from India, were at including 2.608 million tons of basmati and
7.318 million tons of non-basmati varieties according to the reply to lok-sabha by Agriculture Ministar Arjun Munda.
According to the data exports of basmati rice were at 4.561 million tons in 2022-23 finacial year, while exports of
non-basmati rice were at 17.792 million tons.

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MALAYSIAN PALM OIL DOWN ON WEAKER RIVALS

MALAYSIAN PALM OIL DOWN ON WEAKER RIVALS

Malaysian plam oil futures for February delivery fell by 1.12% or RM 42 to RM 3693 ($ 785.24) in early
trade as on 13/12/2023 due to weaker rival edible oil futures and slowing exports. Palm oil exports from Malaysia
for the period of Dec 1-10 fell 4.1% to 7.4% from the coresponding period of November. Soy bean oil futures
traded up by 0.1% in Chicago.

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MAIZE PRICES STEADY, WHEAT PRICES WEAK

MAIZE PRICES STEADY, WHEAT PRICES WEAK

Maize prices almost steady in Davanagere of Karnataka and arrivals at 2000 bags. Wheat price in Kota and
Indore declined by Rs.25. Arrivals increased from 2000 bag ti 10000 bags in Kota, Gujarath. Rabi crop sowing
area is higher at 14.61 lakh hectares from 14.34 lakh hectares during the same period of last year.

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SUGAR PRICES LIKELY TO EASE

SUGAR PRICES LIKELY TO EASE

As per Government notification December 7, 2023, sugar mills and distilleries not to use sugarcane juice/sugar syrup for ethenol production in ESY 2023-24 with immediate effect. Supply of ethenol from existing offers received by OMCS from B-Heavy molasses will continue. As this decision support to increase sugar production likely to lead
decline in sugar prices.

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MALAYSIAN PALM OIL MOVE TO WEEKLY LOSS

MALAYSIAN PALM OIL MOVE TO WEEKLY LOSS

Malaysian palm oil on 8/12/2023 Friday booked 3.43% weekly loss, lowest since October 20 by falling RM 39 on 1.05% to RM 3741 ( $ 802.45) as on 8/12/2023. Soy oil rose 2.33% and palm oil contract was up by 3.41% at Dalian Exchange Market. Palm oil likely to trade upside during next week due to lower production expectation. Export data for 1-10 December 2023 and production data for November 2023 likely to focus demand and price.

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EXTENTION OF EXPORT RESTRICTIONS ON ONION EXPORTS

EXTENTION OF EXPORT RESTRICTIONS ON ONION EXPORTS

Earlier Government kept minimum export price of onion at $ 800 per ton from October 28 to December
31st 2023, of this year in order to make sufficient availability of onion in domestic markets. Now Government
extended the same restriction on onion exports until March 31st 2024, according to the news sources.

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MALAYSIAN PALM OIL UP

MALAYSIAN PALM OIL UP

Malaysian palm oil futures for February delivery trading up by RM 48 or 1.30% to RM 3750($803.86) by the mid-day break as on 8/12/2023 on rival edible oil strength. Soy oil at Dalian rose by 1.82% and palm oil up by 2.62%. Malaysian currency also strengthened by 0.15% against Dollar. India’s November palm oil imports p by 22% from October to 867,000 tons, which is highest in 3 months as per dealers estimate. Palm oil
prices was significantly lower as compared to soy oil and Sunflower oil prices.

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VIETNAM EXPORTED $ 3.31 BILLION CASHEWS IN 11 MONTHS

VIETNAM EXPORTED $ 3.31 BILLION CASHEWS IN 11 MONTHS

During the first 11 months of 2023 Vietnam has exported $ 3.31 billion worth cashews, which is higher by
23.1% in quantity and 17.4% in value terms as compared to the corresponding period of 2022 according to the
data of ministrey of Industry and Trade of Vietnam. Average price dropped by 4.7% to $ 5682 per ton year on year.
Major exports consisting W320,W240 and W180 which are accounting for 63.51% of the total quantity of exports
and 69.84% of export value according to the news sources. United States and China are main buyers for Vietnam
Cashews.

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RICE PROCUREMENT BY F C I FELL IN PREVIOUS YEARS

RICE PROCUREMENT BY F C I FELL IN PREVIOUS YEARS

Kharif sown crop rice procurement by FCI has steadily declined over last 3 years, according to the news
sources. The procurement by Government agencies during 2021-22 were lower by 5% to 57.5 million tons, in
2022-23 at 56.8 million tons lower by 1%. Farmers are prefering to sell private participents as to market prices are
ruling higher than minimum support price in recent years is one of the reason for lower procurement.

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PRIORITY TO SUGAR PRODUCTION, PLANS TO DISCOURAGE ETHENOL PRODUCTION

PRIORITY TO SUGAR PRODUCTION, PLANS TO DISCOURAGE ETHENOL PRODUCTION

According to the news sources Government planning to discourage ethenol production from sugarcane and provid-ing priority to sugar production to ensure sufficient supply of sugar in the domestic market. Sugar cane production in some growing states are expected to effect by difficient rains at the growing stage. The new guidlines for the year will be decided soon and the current production of ethenol in India is sufficent to meet the fuel blending targets according
to the news sources.

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MAIZE SELLING AT ABOVE MSP

MAIZE SELLING AT ABOVE MSP

The farm gate prices of kharif crop for good quality maize are above minimum support prices fixed by Government. Maize prices steady in Karnataka. Production for 2023-24 is expected at 34 million tons. Stock
position is at 2.2 million tons and consumption is expected at 31.2 million tons. Increase of price in domestic market have reduced global competitivenses. Exports were at 0.50 million tons according to the news sources.

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PLAN TO IMPORT TUR, URID FROM MYANMAR

PLAN TO IMPORT TUR, URID FROM MYANMAR

Government has planned to import 4 lakh tons of tur (pigeon pea) in January and 1 million tons of urid in February 2024 from Myanmar according to the news sources. Imports would help availability of these grains in
market. Production of Tur and Urad is estimated to be lower due to adverse climate effect and lower acreage.
According to the estimates of Ministry of Agriculture for kharif crops of 2023-24, production of Tur is at 3.42
million tons which is almost similar to the last year. Area under Urid is estimated at 3.07 million hectares, which is lower than 3.10 million hectares in last year. Total annual requirement of turdal of the country is estimated at 4.5
million tons.

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KOREAN COMPANIES CASHEW PROCESSING FACTORY $ MILLION IN TANZANIA

KOREAN COMPANIES CASHEW PROCESSING FACTORY $ MILLION IN TANZANIA

The Korean company have been announced completion of $ million cashew processing and cashew nut,
shell liquid oil factory (CNSL) in Mkuranga District, Coast region of Tanzania. Tanzania is determined to export processed cashew kernels to ensure more revenue for the Govenment and Cashew growers.

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MALAYSIAN PALM OIL STOCKS SCAN RISING 4 YEAR HIGH

MALAYSIAN PALM OIL STOCKS SCAN RISING 4 YEAR HIGH

Malaysian palm oil inventories likely to increase for the 7 consequtive month to the highest level since April 2019 as production outstripped exports (demand). According to Bloomberg Survey of traders, analysts and planta-
tion executives inventories rose 1.2% in November from October to 2.48 million tons and is around 8% above than the year ago. Malaysian palm oil closed lower by RM 44 or 1.15% to RM 3780 ($ 810.98) at close of 5/12/2023
trading.

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BLACK PEPPER TRADING HIGHER IN GLOBAL MARKET

BLACK PEPPER TRADING HIGHER IN GLOBAL MARKET

Black Pepper prices moving up in countries such as Vietnam, Indonesia, India while in Brazil prices are
stable. Price reached to the highest level in the four months in Vietnam. Reduced production possibility due to
adverse weather, prices are moving upward symaltaniously in Vietnam. Demand for pepper increasing. Export prices of pepper from Vietnam also have been increased.

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MALAYSIAN PALM OIL FELL FOR THIRD CONSEQUTIVE SESSION ON WEAK RIVAL OILS

MALAYSIAN PALM OIL FELL FOR THIRD CONSEQUTIVE SESSION ON WEAK RIVAL OILS

Malaysian palm oil futures extended losses to a third straight session due to weaker rival vegetable oils,

down by RM 25 or 0.65% to RM 3799 ($ 815.06) during 05/12/2023 mid-day trading. Malaysian palm oil inven-
tories at the end of November seen failing for the 1st month since April according to the Reuters survey due to seasonal production decline. November palm oil imports to India rose more than fifth from last month. Imports of
palm oil in November up by 22% from October to 867,000 tons, the highest in 3 months according to dealers
estimates.

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GARLIC PRICES AGAIN INCREASED

GARLIC PRICES AGAIN INCREASED

According to the trade sources demand for garlics have been significantly increased and prices are also

increased significantly. Few days earlier prices once increased and now again prices have been increased . Produc-
tion of garlics in main growing state Rajasthan, this year is said to be lower and prices are accordingly increasing. Increasing demand also have contributed towards the increase of prices.

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RED (DRY) CHILLIES SHOWING SIGNS OF PRICE DECLINE

RED (DRY) CHILLIES SHOWING SIGNS OF PRICE DECLINE

As new crop harvests time nearing red dry chillies prices showing signs of declining. Already prices of

Bydagi chillies in Mangaluru have been decreased by Rs.50-100(expect top grade) for medium and average variet-
ies. According to sources crop for the current year is good and prices are likely to drop after arrivals of new crop at full swing to the market.

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MALAYSIAN PALM OIL 2ND WEEKLY LOSS

MALAYSIAN PALM OIL 2ND WEEKLY LOSS

Malysian palm oil contract for February delivery lower by RM 24 or 0.62% to RM 3871 ($ 828.73) per

ton as on Friday 1/12/2023 closing due to weaker rival edible oils and poor demand from buyers. Contract re-
corded 5.87% gain for the month of November 2023, while it declined by 0.49% for the week.

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KHARIF PADDY PROCUREMENT REACHES TO 30MMT

KHARIF PADDY PROCUREMENT REACHES TO 30MMT

Kharif paddy procurement for the year 2023-24 in India reached to 30 million tons according to the news
sources. As compare to the corresponding period of last year it shows 6% decline. Procurement will improve in coming days.

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GOVERNMENT ALLOCATED 24 LAKH TONS OF SUGAR FOR DECEMBER SALES QUOTA

GOVERNMENT ALLOCATED 24 LAKH TONS OF SUGAR FOR DECEMBER SALES QUOTA

Government alloted 24 lakh tons of Sugar sales quota for December which is 2 LMT higher than the quota
alloted for December 2022. Demand being weak prices are rating lower by Rs 10 per quintal in leading markets
buyers are buying only in small quantities for necessary consumption needs as prices are higher. Prices likely under pressure as quota allocted is more than required.

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PALM OIL MOVING TOWARDS 2ND WEEKLY LOSS

PALM OIL MOVING TOWARDS 2ND WEEKLY LOSS

Malaysian palm oil futures dropped today 1/12/2023 to the lowest level since October and moving towards
2nd week of loss on weak demand from bio-diesel field. February delivery trading lost RM 51 or 1.3% to RM
3844 ($ 871.89) per ton by mid-day palm oil exports for November is estimated to up between 2% and 11% from October.

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EXPORT DEMAND PICKING UP FOR COFFEE SEEDS

EXPORT DEMAND PICKING UP FOR COFFEE SEEDS

Export demand picking up for coffee seeds from India as importers from key global markets such as Eu-
rope, West Asia are began to place orders. Prices are lower than some month ago and attractive for buyers now.

The new crop Arebica coffee started arriving to the markets and many exporters are taking smaller quantity export
orders but not getting larger quantity as people are having contridictory reports on the upcoming crop size according
Ramesh Raja, President,Coffee exporters Association. Exports likely to increase from next month and prices also
remain firm. Coffee exports from India between the period of April 1st to Nov 28, 2023 were at 2.44 lakh tons
lower by 6.5% from 2.61 lakh tons in the coresponding period of last year. Value have been increased by 6% at $
775 million from $ 733 million during the same period of last year due to higher prices.

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PALM OIL EDGED UP ON INDONESIA’S EXPORT DUTY HIKE

PALM OIL EDGED UP ON INDONESIA’S EXPORT DUTY HIKE

Malaysian palm oil futures for February delivery edged up by RM 18 or 0.46% to RM 3890 ($ 836.38) per ton at mid-day trade (30/11/2023). Prices increased with support of Indonesia’s export duty hike but lower imports has not allowed further hike.

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GOVERNMENT LIKELY TO INCREASE TUR PROCUREMENT

GOVERNMENT LIKELY TO INCREASE TUR PROCUREMENT

According to the news sources Government is planning to significantly increase Tur or Arhar procurement from few
tons to 8-10 lakh tons in order to control prices. Prices rating high due to lower acreage and expectation of lower
production. As prices ruling significantly higher than MSP in the open market farmers may prefer to sell private

participants at higher prices than selling to Government agencies at lower prices. Government have to rise procure-
ment price considerably if they want to increase procurement, otherwise Government agencies would face trouble in

reaching procurement targets. To intervene market and control prices they should have higher stocks at commonding position with them

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INDIA BECOMES CHAIR OF ISO FOR 2024 TO LEAD GLOBAL SUGAR SECTION

INDIA BECOMES CHAIR OF ISO FOR 2024 TO LEAD GLOBAL SUGAR SECTION

International Sugar Organisation (ISO) in its 63rd council meeting headquartered in London has announced India to
be the Chair of Organisation for the year 2024. This is the huge achivement for the country to lead global sugar
sector and refection of growing stature of the country in this domin. While attending the ISO council meeting, Shri
Sanjeev Chopra, Secretary (Food) Government of India, remarked this during its period of chairmanship of ISO in
2024. India seeks support and co-operation from all member countries and would like to focus on bringing together
all member countries to adopt more sustainable practices in sugarcane cultivation, sugar and ethonol production and
better utilisation of by-products. zonthe technical side also, National Sugar Institute, Kanpur has spread its wings

and collaborating with many countries including Indonesia, Nigeria, Fuji and Egypt etc., for sharing the latest tech-
nologies in the sector and best practices.

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MARKET PRICES OF KHARIF TUR AT SIGNIFICANTLY HIGHER THAN MSP

MARKET PRICES OF KHARIF TUR AT SIGNIFICANTLY HIGHER THAN MSP

Market prices of Tur from Kharif crop ruling much higher than MSP in several places, due to lower production according to news sources. Short fall in production and sluggish imports pushing up prices. According to trade

sources arrivals from Kharif crop would picking up in coming weeks, prices may decline from present level, but
would be ruling significantly above MSP of Rs.7000/quintal for the rest of year.

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ARECANUT (BETAL NUT) PRICES WEAK

ARECANUT (BETAL NUT) PRICES WEAK

Arecanut (Betal nut or Supari) prices are weak in Mangaluru and choll, double choll, patora, ulligadde and Karigotu prices have been declined by Rs.5. Growers predicts that production would fall this year due to illness in
plants and adverse climate effect. More over many growers are not having significant carry over stocks and supply
of choll variety arecanuts may reduce in coming months. Quantity of arrivals and demand would decline prices.

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TANZANIA EXPORTS PROCESSED CASHEWS AND NOT RCN FROM 2026-27

TANZANIA EXPORTS PROCESSED CASHEWS AND NOT RCN FROM 2026-27

Tanzania earned US $ 226.9 million from the exports of raw cashew nut (RCN) in the 2022-23 fiscal, new markets and prices can be tapped into through processing of cashews. In September 2023, the Tanzanian Govern-
ment initiated new policies, ensuring all exported cashews are no longer raw and need to be processed by 2026-27

to benefit farmers from value added products and premium price. Exportable surplus raw cashewnuts quantity from
Africa likely to reduce in coming years. Other processing countries should find alternative ways for the supply of
RCN required for their processing needs.

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PALM OIL EDGED UP ON RISE RIVAL EDIBLE OILS DECLINING OUTPUT

PALM OIL EDGED UP ON RISE RIVAL EDIBLE OILS DECLINING OUTPUT

Malaysian palm oil futures for February delivery rose by RM 27 or 0.69% to RM 3919 ($ 839.73) per ton on rise rival edible oils, concern over declining output. Stronger currency exchange value against dollar also sup-
ported higher prices. Adverse weather effect likely to reduce production in this month. Palm oil and soy oil rose in Daliyan market also.

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CHICKEN PRICES DROPPING ON LOWER DEMAND

CHICKEN PRICES DROPPING ON LOWER DEMAND

Chicken, meat, fish prices dropping significantly due to lower demand. Usually chicken, meat prices falling in
Karthika massam as many are not consuming non-veg during this time. Shabarimala yathra devotees and their family also not consuming non-vegetarian food upto completion of their yathra. Demand likely to be lower during this period.

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PALM OIL DROP 2 WEEKS LOW ON WEAK RIVAL OILS

Malaysian palm oil for February delivery lost RM 26 or 0.67% to RM 3864($ 825.99) per ton on weak
rival vegetable oils in Dalian Market. Future are at 2 weeks low but improving exports limited the drop. Malaysian
palm oil export between 1-15 November rose by 13.6% to 1.26 million tons according to cargo surveyor Intertek testing services. According to Amspec Agro Malaysia exports rose 7.2% to 1.15 million tons.

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PULSES PRICES FALLING IN MYANMER ON FALLING DEMAND

PULSES PRICES FALLING IN MYANMER ON FALLING DEMAND

Pulses prices including Tur (Yellow Gram, Arhar) Urid (Black Gram) and Moong (Green Gram) are falling in
Myanmar due to weak global demand. Due to high prices demand have been slowed down from countries such as
India, China. New crop harvest time also nearing for some varieties of Pulses.

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GOVERNMENT MAY SELL MOONG FROM BUFFER

GOVERNMENT MAY SELL MOONG FROM BUFFER

Government likely to sell Moong to the public in retail to control rising prices according to the news sources.
Governement having 5 lakh tons of Moong is its stock as against 1 lakh tons normal and now planning to sell 30,000
tons of moong from it at a discounted rates according to the news sources.

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SUGAR PRICES STABLE

SUGAR PRICES STABLE

Sugar prices were stable and expected to remain steady for some days. Demand is good, ministry has
allocated the quota of 24 lakh tons for the month of December, higher by 1lakh tons from November. As prices are
cooling higher quota likely to presurise the sugar prices. During last season sugar prices are trading to a discount to
new season sugar prices of Rs.40 to Rs 50 per quintal.

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PALM OIL LOST BY 1.04% FOR THE WEEK

PALM OIL LOST BY 1.04% FOR THE WEEK

Malaysian palm oil entered to the 1st weekly after 2 weeks of gains on weaker Dalian oil market. Malaysian
palm oil contract for Februvary 24/11/2023 last by RM 61 or 1.54% to RM 3890 ($ 831.55) per ton at closing.
For the week contract lost by 1.04% after consecutive 2 weeks gains.

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GOVERNMENT MAY REVOKE TOOR DAL IMPORT MOU WITH MOZAMBIQUE

GOVERNMENT MAY REVOKE TOOR DAL IMPORT MOU WITH MOZAMBIQUE

The Government may revoke the memorandum of understanding (MOU) that it had with Mozambique for
the import of 2 lakh tons of Turdal after IPGA raised the issue with the Prime Minister’s office. According to the
news sources, The supply of Turdal from Mozambique is not begun as they are grappling with some corruption
issues in their own country.

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PALM OIL SET TO WEEKLY DROP

PALM OIL SET TO WEEKLY DROP

Malaysian palm oil prices extended losses (24/11/2023 mid-day) and set for weekly drop. February delivery drop by RM 41 or 1.04% to RM 3910 ($ 835.83) per ton. Contract so for has lost 0.53% for the week. Malaysian Palm Oil Association estimated. The output for Nov 1-20 to had dropped 3.89% from the month ago.

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GROUNDNUT SEEDS ADONI

KARNATAKA NEW
60×70-12300
70X80-12000
80X90-11600
90X100-11000
KARNATAKA MILL-8500
KALYANI MUMBAI NEW-9200
CAKE:GROUND NUT-47000
SUNFLOWER-34000
SUNFLOWER:HYDERABAD-865
GROUND NUT OIL:
MUMBAI-1580
GUJRAT-1560
AP NEW
60×70-12200
70X80-12000
80X90-11600
90X100-11000
MAHARSHTRA DELIVERY RATE
EXPORT:
KA 80X90-11000
AP 80X90-11000
90X100-10800

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APEDA TASKS ON BOOSTING CASHEW SECTOR OF INDIA

APEDA is working on the bring back the top position for the Indian cashew sector in global trade and it has planned
to expand the growing area of the country as well as connect them with global market. APEDA started working for cashew sector after Kerala High Court vacted the stay according to the news sources. Modernisation of processing
units starts as producer organisations have also begun in last few years and will strengthen the sector. According to
APEDA states ‘such’ as Andhra Pradesh, Maharastra, Odisha and Gujarat have big potential to cashew exports
with adding more companies can be brought in to value addition segment of the cashew sector.

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KARNATAKA IS THE LARGEST MAIZE PRODUCER OF INDIA

KARNATAKA IS THE LARGEST MAIZE PRODUCER OF INDIA

Karnataka is largest maize producer of India and produces over 15% of the country’s total output. Main
districts growing maize in Karnataka are Bellary, Bidar, Vijayapura, Belagavi, Koppala, Raichur, Tumkuru,
Chitradurga and some parts of Chikkaballapur and Kolar. Annual output is exceeding 4 million tons in Karnataka
and Kharif and Rabi crops are grown. Madhyapradesh is 2nd largest producer of India production about 15% of
total countries production. Both Kharif and Rabi crops are grown in more than 1 million hectares. State Government
is supporting maize production. 3rd largest maize producer in Indiawith 12% of total contribution is Maharastra.
Growing both Kharif and rabi crops and grown in 75 lakh hectares. Main growing districts are Ahmednagar, Sangli
and Jalgoan. 4th largest producing state of India is Rajasthan with 9% of the total production. Jodhpur district and
parts of Bikaner and Churu are main growing areas. Growing in kharif season and growing area is 1.4 million
hectares. 5th largest maize producer of India is Bihar with producing 7% of the country’s total production.
Aurangabad, Nalanda, Nawada and Jamui are main growing districts with 0.7 million hectares growing area. 6th
largest producer is Uttarpradesh with total contribution of 8% of National output. Primarily growing in Kharif season
with growing area of 1 million hectares. Main growing area are Saharapur, Meerut, Moradabad and Pilibhit
districtas. 7th largest Maize producer of country is Telangana with total contribution of 6% grown in both kharif and
rabi season with total cultivation area of 5 lakh hectares. Nalagonda, Warangal, Karimnagar, Adilabad and other
parts of north Telangana are main growing area. Tamilnadu is 9th largest Maize producer of the country contributing
3% of the total National production. Growing is over 2.5 lakh hectares in Krishnagiri, Dharmapuri, Namakkal and
Karur districts. 8 largest maize growing state of India is Gujarath with total cultivation area of 2.7 lakh hectares and
Surendra Nagar, Kutch, Banaskantha and other northern Gujarath are growing areas. 10th largest grower of India is
Andhrapradesh with 3% contribution growing area are Guntur, Prakasam, Kurnool and Kadapa, Krishna and West
Godavari.

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PALM OIL LOST AFTER 3 SESSION GAINS

PALM OIL LOST AFTER 3 SESSION GAINS

Malaysian palm oil futures as on 23/11/2023 mid-day break lost after 3 session consecutive gain on weaker
Dalian Market weak crude oil prices. Februvary delivery lost by RM 34 or 0.85% to RM 3954 ($ 845.23) per ton.
Traders are waiting for Malaysian palm oil production data for November 1-20. Malaysia has maintained its crude
palm oil export rate at 8% and raised its reference price for December 2023. Reference price raised from RM
3556.08 in November to RM 3589.09 for December, according to the news sources.

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INDIA LOOKING FOR EXPANDING CASHEW EXPORT MARKET

INDIA LOOKING FOR EXPANDING CASHEW EXPORT MARKET

According to APEDA(Agricultural and Processed Food Products Export Development Authority) India
can expand cashew export markets under organic equivalence agreement, which is already signed for the promotion
of exports. Exports can be done to new geographics such as Japan, the European Union, South Korea, Taiwan an
Austrelia to expand export markets. Exports of Cashews witnessed lower for 2022-23 from 80366 tons on 2021-
22 to 76,825 tons with revenue falling from Rs.3410 crores to Rs.2982 crores. The Government is planning to
increase exports by 10% according to the news sources.

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PALM OIL ROSE ON STRONGER RIVAL OILS WEAK CURRENCY

PALM OIL ROSE ON STRONGER RIVAL OILS WEAK CURRENCY

Malaysian Palm oil rose by RM 63 or 1.6% to RM 4016 ($ 858.16) (Februvary delivery) on weaker RM and stronger rival edible oils at 22/11/2023 mid-day. Malaysian palm oil exports between 1-20 November is estimated to be lower between 2% to 9% from October. Indonesia exported 2.9 million tons of palm oil products in
September, down 21% year-on-year. SEA has asked the Government to increase the duty difference between CPO
and refined palm oil from 7.5% to 15% according to the news sources.

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AREBICA COFFEE PRICE UP ON EXCESS DRY CLIMATE IN BRAZIL

AREBICA COFFEE PRICE UP ON EXCESS DRY CLIMATE IN BRAZIL

Arebica coffee prices on 20/11/2023 sharply increased after weaken rain forcast failed to meterialise in
Brazil. Below normal rain to effect yield. Robusta coffee prices lower on increased supplies from Uganda, the global
4th largest robusta coffee producer. According to Uganda coffee Development Authority, October coffee exports
from the country rose +3.4% y/y to 470,080 bags. Coffee (Arebica) inventories on last Thursday fell to 24 year low
of 289,699 bags according to ICE data. Robusta coffee inventories as on 20/11/2023, at 3931 lots. Modestly
above the lowest record of 3374 lots on August 31st. According to Vietnam Agricultural Department’s projection as
on November 3, Vietnam’s. Coffee output for 2023/24 crop years, could drop by 10% to 1.656 MMT, the smallest
crop in 4 years, due to unfavourable dry weather. Vietnam’s coffee exports for October 2023 fell by 14.2% month
on month and 48.8% year-on-year to 43,725 MT and exports in the 1st 10 months of the year (Jan-Oct) fell by
10.7% year-on-year to 1.3 MMT according to Vietnams General Department of Customs data.

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ONION ARRIVALS FROM KHARIF CROP BEGUN IN NASIK

ONION ARRIVALS FROM KHARIF CROP BEGUN IN NASIK

New crop arrival from Kharif crop begun to Nasik, Lasalgaon market on Monday 20/11 2023, when auctions resumed after 12 days deepavali holiday break. Around 11000 quintals of Onion have been auctioned at Lasalgon market crop onions according to the news sources. New crop arrivals begun but quantiy said to be lower. Prices for new crop is higher at 4000 per quintal and likely to reduce when arrivals increase according to the news sources.

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GROUNDNUT PRODUCTION HIGHER THAN LAST KHARIF SEASON

GROUNDNUT PRODUCTION HIGHER THAN LAST KHARIF SEASON

According to Sourashtra Oil Millers Association (SOMA) groundnut production for 2023-24 Kharif season
is estimated at 31 lakh tons as compared to 29 lakh tons during last Kharif season. Prices likely won’t decrease much despite higher production as demand likely to be higher according to SOMA. Groundnut and its oil prices likely to remain higher.

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MAIZE PRICES ROSE ON LOWER ARRIVALS DUE TO LOWER OUTPUT

MAIZE PRICES ROSE ON LOWER ARRIVALS DUE TO LOWER OUTPUT

Maize prices in Davanagere of Karnataka significantly rose this year due to fall arrivals on lower produc-
tion. Arrivals dropped from 10000 quintals during November last year to 4000 quintal on November 2023. Upto November end 2022 arrivals were at 1,18,000 quintals and upto November 20, 2023 arrivals was only 51,164
quintals. During 2023 Kharif crop planting were at 1.25 lakh hectares but crops were damaged to the extent of 75%
due to insufficent rains according to the news sources. Arrivals during 2022 Kharif season were at 10.72 lakh
quintals and during this season likely to drop by 75% according to the trade sources.

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CPO PRICES SIGNIFICANTLY LOW IN 2024- FITCH

CPO PRICES SIGNIFICANTLY LOW IN 2024- FITCH

Fitch ratings experts average CPO (crude palm oil) prices likely be significantly of higher production of palm
oil and other vegetable oils due to favourable climate conditions. But strong El-nino likley start to effect yeilds from 2nd half of 2024.

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PALM OIL ROSE 2NS SESSION ON LOW OUTPUT, CHINA DEMAND

PALM OIL ROSE 2NS SESSION ON LOW OUTPUT, CHINA DEMAND

Malaysian palm oil futures rose for the 2nd session due to expectation of lower production, increasing demand from China for Soy bean oil. Contract for February delivery rose by RM48 or 1.2% to RM 3980 ($
850.79) per ton at mid-day break on 21/11/2023. Lower exports, stronger currency controlled the price rise.
China’s Soybean imports in October from Brazil rose 71% from October 2022.

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GROWING SURPLUS STOCK OF RICE WITH GOVERNMENT AGENCIES

GROWING SURPLUS STOCK OF RICE WITH GOVERNMENT AGENCIES

Due to robust procurement and weak respons for sales and OMSS stocks of rice with Government agen-
cies are increasing and building huge surplus stocks according to the news sources. As per the projection, the rice
stocks held by the Government agencies likely to be more than the double the buffer by the end of the current
season due to robust procurement by Government agencies and higher opening stocks. FCI and state Govt agencies so far have precuned about 17 million tons of rice equivalant of paddy in the current season, which commeced from Oct 1st, overall purchase in the Kharif season is likely to cross 50 million tons according to the news sources. This is higher than requirement of 40MMT annually being supplied under free ration scheme- Pradhan Manthri Garib Kalyan Anna Yojana(PMFBY). In addition 5 to 6 million tons of rice is experted to procured during the rabi season. Opening stock with FCI as on October 1st was 22.18 MMT which was more than double of buffer. Poor response for sales under OMSS also in growing surplus stocks.

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DRY FRUITS AND CASHEW PRICES 10 TO 20% LOWER THAN LAST YEAR

DRY FRUITS AND CASHEW PRICES 10 TO 20% LOWER THAN LAST YEAR

According to Dry fruits traders, Dry fruits and cashew price in the current year is lower by 10-20% from the
last year. Dry fruit companies had bumper crops during this year. According to trade sources California almonds, dates from Soudi Arebia, Anjeer from Afghanisthan and many more varieties of cashews are trading at lower prices.
Dry fruits, Cashews, spices are usually consumed in large quantity during Christmas festival. Demand likely to
increase for Christmas.

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PALM OIL ROSE ON STONGER SOY OIL AND CRUDE OIL

PALM OIL ROSE ON STONGER SOY OIL AND CRUDE OIL

Malaysian palm oil for February delivery during early trade on 20/11/2023 rose by RM 21 or 0.53% to RM 3952 ($ 844.81) per ton on strong CBOT (Chicago) Soy oil and petrolium crude oil prices. China will increase
palm oil imports in 2024 according to the news sources. Nigeria will increase palm oil production. Nigeria now
producing 1.4 million tons of palm oil as against need of over 3 million ton per annum.

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SUGAR RECOVERY RATE FROM CANE IN LOWER IN MAHARASTRA, THIS YEAR

SUGAR RECOVERY RATE FROM CANE IN LOWER IN MAHARASTRA, THIS YEAR

The average Sugar recovery rate in Maharastra has fell to 6.65% at the beginning of this year from 8.50% in
last year. Sugar mills in India have produced 1.25 million tons of Sugar upto November 15, down by 7.8% from
2.02 million tons in the same period of last year. Uttar pradesh is the only state of the country have registered a rise
in the average Sugar recovery rate at 8.60% from 7.75% in the last year. According to Sugar Federation’s estimates
for 2023-24 production forecast is at 29.15 million tons. Sugar recovery rate in Maharastra and Karnataka are
lower due to insufficient rainfall at growing stage.

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GLOBAL SOYBEAN PRICES DROP ON HIGHER PRODUCTION ESTIMATES

GLOBAL SOYBEAN PRICES DROP ON HIGHER PRODUCTION ESTIMATES

International Grains Council estimates global soybean production at 395 million tons up 2 MMT from previous prediction and now 28 million tons higher year-on- year as production in Arjentina would rise and expected
rain in Brazil would increase production. Planted area in Arjentina have been increased. Soybean and Soymeal
prices are lower in Chicago market. Drop in petrolium crude oil prices also pushed down soybean and soy oil
prices.

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MAIZE PRICES UNCHANGED, WHEAT STABLE

MAIZE PRICES UNCHANGED, WHEAT STABLE

Maize prices remained steady in Davanagere of Karnataka and Purnea of Bihar as arrivals also remained
steady with 5000 bags of 60kg, each in Davanagere and 7500 bags of 60kg each in Purnea. Demand remained
lower as traders from poultry field have purchased and kept stocks in earlier days, according to the news sources.
Wheat prices also steady in Kota of Rajasthan.

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MALAYSIAN PALM OIL DOWN ON WEEK RIVAL OILS

MALAYSIAN PALM OIL DOWN ON WEEK RIVAL OILS

Malaysian palm oil futures for Februvary delivery on 17/11/2023 closing fell by RM 68 or 1.70% to RM 3930 ($ 840.10) per ton on week rival edible oils and weak petrolium crude prices. For this week Malaysian palm oil gained by 3.37% from last week. Soy oil Daliyan contract fell by 1.89% and palm oil in Daliyan fell by 1.60%.
Chicago soy oil prices up by 0.72% Indonesia set palm oil reference price for November 15-30 at $ 750.54 per ton
from $ 748.93 in the period of November 1st to 15th.

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GOVERNMENT SOLD WHEAT AND RICE FROM BUTTER STOCK

GOVERNMENT SOLD WHEAT AND RICE FROM BUTTER STOCK

According to food ministry 3 lakh tons of wheat and 1.79 lakh tons of rice were auctioned under OMSS in domestic market at the 21st e-auction, which took place on 15th November 2023, from its butter stock., 2334 bidders purchased 2.84 lakh tons of wheat and 5830 tons of rice according to the news sources. The government
holds weekly e-auctions for wheat and rice as the part of its central government initiative to intervene in the market
and control the retail prices of these commodities.

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IGC LIFTED GLOBAL GAIN PRODUCTION ESTIMATE BY 3MMT

IGC LIFTED GLOBAL GAIN PRODUCTION ESTIMATE BY 3MMT

According to Internarnational Grains Council, global grains production for 2023-24 is lifted by 3MMT to 2295 MMT from earlier estimates. Upgraded outlook for maize, corn on reports of better than expected. USA yeilds and increased wheat production outlook, reflecting...

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GRAIN, CEREALS PRICES EXPECTED TO BE 15% HIGHER FOR NEXT FISCAL – CRISIL

GRAIN, CEREALS PRICES EXPECTED TO BE 15% HIGHER FOR NEXT FISCAL – CRISIL

The prices of grains, cereals are expected to remain 14-15% higher in next fiscal (2024) as composed to past 5 years average, according to CRISIL’S report. Unfavourable climate change, strong global as well as domes-
tic demand would be reason for price increase. During the current year in first 10 months of 2023 cereal prices have

been increased significantly year to year. Wheat prices increased by 8-11% , Maize, jower and bajra by 27-31%.
CRISIL experts wheat production to be higher in 2024 rabi season and exprcted to bring stock position upto a
comfortable level as compared to the previous year.

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INDIAN RICE RATES GAIN ON INCREASED DEMAND

INDIAN RICE RATES GAIN ON INCREASED DEMAND

During this week rice prices rose is most of Assian countries and India’s para boiled variety slightly gained
on improvement in demand. Increasing supply from new crop resticted the upside. Even after paying 20% export
duty Indian Rice is cheaper than other countries rice in global market. India last month extended the curbs on rice
exports with 20% export duty on para-boiled rice until March 2024. Prices rose in most of the exporting countries
due to continous demand. India’s 5% para-boiled broken variety was increased from $ 490-$ 500 in last week to $493 – $ 500 per ton.

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SUGAR PRICES ROSE IN KEY DOMESTIC MARKETS

SUGAR PRICES ROSE IN KEY DOMESTIC MARKETS

Ex-mill prices of sugar rose in key domestic markets of India (Uttar pradesh and Maharastra) on 16/11/
2023 as traders expect 2nd branch of the sales quota for November is insufficient. Ex-mill prices in Uttar Pradesh rose by Rs.20-25 per quintal. Quota for 2nd tranche sales in 8 lakh tons prices rose in Maharastra by Rs.10-12 per

quintal. Government have released 1st tranche of sales quota of 1.5 million tons and many mills have already com-
pleted their 1st tranche quota and only few Government mills have left over stocks, according to the news sources.
Increase of prices is comparitively less in Maharastra as compared to Uttarpradesh. Prices are expected to remain high. Government may release quota for December at the end of November and may adjust it for the end of November if released quota is insufficient.

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MALAYSIAN PALM OIL DOWN ON WEAKER RIVAL OILS AND CRUDE

MALAYSIAN PALM OIL DOWN ON WEAKER RIVAL OILS AND CRUDE

Malaysian palm oil futures on 17-11-2023 mid-day break fell down by RM 57 or 1.43% to RM 3941 ($ 841.73) per ton (Februvary delivery) on weak rival edible oils and weaker petrolium crude. For this week palm oil is gained by 3.66% so far. CBOT soy oil down by 0.04% and at Daliyan – 1.87% and palm oil in Daliyan – 1.66%.

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COFFEE PRICES SHARPLY HIGHER ON EXCESSIVE HEAT IN BRAZIL

COFFEE PRICES SHARPLY HIGHER ON EXCESSIVE HEAT IN BRAZIL

Coffee prices on 15/11/2023 closed sharply high with Arebica posting 4 and 3/4 months high and Robusta 1
and 3/4 months high. Concerns ever execessive heat in Brazil would damage crop supported price. Crop in Vietnam
would drop by 10% to 1.656 MMT smallest crop in 4 years, according to agricultre department of Vietnam.
Shrinking ICE coffee inventories have supported prices.

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ISO SHARPLY REDUCED GLOBAL SUGAR SHORTFAL

ISO SHARPLY REDUCED GLOBAL SUGAR SHORTFAL

International Sugar Organisation (ISO) have sharply reduced its global Sugar supply shortful estimate for 2023-24 to 0.33 million tons from the 2.11 million tons, estimated in the previous quarter. Record production in top producer Brazil is the main driving factor in narrowing the global sugar deficit. ISO revised the global sugar produc-
tion for 2023/24 to 179.88 million tons from 174.84 million tons, estimated earlier. Gobal sugar consumption is estimated at 180.22 million tons up from 176.96 million tons estimated earlier.

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HERSHEY INDIA INTRODUCED CASHEW BUTTER SCKOCH FLAVOR MILKSHAKE

HERSHEY INDIA INTRODUCED CASHEW BUTTER SCKOCH FLAVOR MILKSHAKE

Hershey India, part of Hershey company, leading global snacking and confertionary has launched a new
digital campaign slump up the fun with introduction of Cashew Butterscotch flavor milkshake.Cashew Butterscotch
milkshake (ice cream flavor) is available across all channels modern retail outlets and e-commerce platforms at Rs.40 for 180ml pack.

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MALAYSIAN PALM OIL EXPORTS ROSE 6.4% BETWEEN NOV 1-15

MALAYSIAN PALM OIL EXPORTS ROSE 6.4% BETWEEN NOV 1-15

According to Am Spec Agri, Malaysian palm oil exports betwwn Nov 1-15 rose 6.4% to 645,590 tons from 606,980 tons in October 1-15. Socete Generale de Surveillance estimated it at 602,510 tons. Indonesia plans to increase CPO expert refference price to $ 750.54 per ton for Nov 15-30 from $ 748.93 in November 1-15. Soy oil prices on CBOT (Chicago) were down by 0.75% and in Dalian lower by 0.21% and palm oil in Dalian lower by 0.11%. Malaysian palm oil prices for Februvary delivery lower by RM 29 or 0.72% to RM 3989 ($
847.28) per ton and snapped 3 day gaining streak, tracking decline in rival edible oils, (During mid-day on 16/11/
2023)

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SOY BEAN FUTURES ROSE ON CHINA’S DEMAND

SOY BEAN FUTURES ROSE ON CHINA’S DEMAND

Soy bean futures rose on Monday due to China’s continued demand and on forecast of dry weather in Brazil for some days, which may effect on standing crop. US crude oil also rose on Monday . Soybean prices likely
to remain higher.

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PALM OIL ROSE ON RIVAL OIL STRENGTH

PALM OIL ROSE ON RIVAL OIL STRENGTH

Malaysian palm oil futures rose by RM 54 or 1.38% to RM 3958 ($ 849.72) per ton for January delivery on rival edible oil price strength. (Today mid-day break) Soy oil prices rose 0.27% in Chicago, 2.19% in Dalian and

Palm oil rose by 2.75% in Daliyan. Malaysian Ringgit strength by 1.23% against US Dollar. $= RM 4.6580. Ac-
cording to cargo surveyor Generale de survillance Malaysian palm oil exports between November 1-10 exported at 404,074 tons.

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SEA SIGN MOU WITH BRAZIL’S ABIOVE FOR SOY OIL IMPORTS

SEA SIGN MOU WITH BRAZIL’S ABIOVE FOR SOY OIL IMPORTS

Solvent Extractor’s Association of India( SEA) and Brazilian Association of vegitable oil Industries have signed a memorandum of understanding (MOU) for the import of Soyabean oils. Brazil is one of major supplier of Soya bean oil to India. Both Associations agreed to...

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VIETNAM’S PEPPER STOCK FOR 2024 ESTIMATED AT LOWEST LEVEL

VIETNAM’S PEPPER STOCK FOR 2024 ESTIMATED AT LOWEST LEVEL

Being exported of 2022-23 production Vietnam’s pepper opening stock at the beginning of 2024 is esti- mated at lowest level in the recent years according to the news sources. Vietnam’s pepper exports for 2023 are
estimated to reach 2,50,000 tons, which is including stocks, imports and production for 2023-24 is estimated to
decrease according to the growing countries estimates. Consumption also estimated to reduce due to global eco-
nomic recession.

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NOVEMBER 2023 RICE STOCK AROUND DOUBLE TARGET

NOVEMBER 2023 RICE STOCK AROUND DOUBLE TARGET

November stocks of Rice in warehouses of India were around double its target according to the Govern-
ment sources. Rice stocks in India including paddy varieties at warehouses are at 19.7 million tons. According to

rules in October 1st warehouses must have 8.2 million tons of rice for thw quarter beginning Oct 1st. Wheat stocks
at warehouses are at 21.6 million tons more than 23% than the set target.

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MAIZE PRICES WEAK, WHEAT STEADY

MAIZE PRICES WEAK, WHEAT STEADY

Maize prices down by Rs.100 per quintal in Davanagere of Karnataka, due to lower demand and arrivals
are also down. Wheat prices in Kota, Rajasthan remained steady for the 3rd consequtive day. Arrivals were low
due to holiday on account of Deepavali for 3 days form tomorrow.

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BLACK PEPPER PRICE WEAK TREND CONTINUED IN PRODUCING COUNTRIES

BLACK PEPPER PRICE WEAK TREND CONTINUED IN PRODUCING COUNTRIES

According to International Pepper Community (IPC) pepper prices showing weak trend during this week is
producing countries. In Indonesia both domestic and International prices for Black pepper showing negetive trend
during this week and remained weak. In Vietnam also pepper prices trading slightly lower from a week and trading
negetively. Malaysian black pepper remain lower from last 3 weeks and showing negetive trend. In all these coun- tries domestic currency is weak against US Dollar. Due to economic recession exchange rates again U S Dollar moving weak, according to the news sources. Currently USD is falling its lowest level in the past 6 weeks, aftr data showed the US economy created fewer jobs than expected during last month. Global pepper prices currently
increased slightly.

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MALAYSIA’S OCTOBER 2023 AND PALM OIL INVENTORIES AT 4 YEAR HIGH

MALAYSIA’S OCTOBER 2023 AND PALM OIL INVENTORIES AT 4 YEAR HIGH

Malaysia’s 2023 October end palm oil stocks at 4 year high by 5.84% from a month ago to 2.45 million
tons despite more than expected exports. Palm oil stocks increased in 6th consecutive month and at the level of
September 2019. Crude palm oil production rose by 5.89% to 1.94 million tons and exports increased to 1.47
million tons. Yesterday at closing Malaysian palm oil futures for January delivery fell by RM 24 or 0.6% to RM 3744 ($ 798.29) per ton.

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TUR PRICES MAY INCREASE DUE TO DELAY IN IMPORTS

TUR PRICES MAY INCREASE DUE TO DELAY IN IMPORTS

About 150000 tons of Turdal bound for India are held up in ports of Mozambique awaiting for export
permission from customs, despite multiple requests from sellers over the past few weeks according to the news
sources. Delay in imports has push up prices of Turdal in India . Lower production in current kharif season may lead to lower supply of Turdal in the domestic market.

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GARLIC PRICE ROSE SIGNIFICANTLY

GARLIC PRICE ROSE SIGNIFICANTLY

Garlic prices rose significantly during recent days. Prices have been increased around Rs.5000 per quintal and shortage in supply affected prices according to the news sources. Concerns on lower production and higher
demand for winter season are said to be another reason for increase of prices. Due to adverse climate effect pro-
duction may be lower.

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MALAYSIAN PALM OIL FUTURES WEAK

MALAYSIAN PALM OIL FUTURES WEAK

Malaysian palm oil futures traded (January delivery) lower by RM 11 or 0.3% to RM 3757 ($ 802.43) per
ton due to subdued demand from traders who are waiting for MPOB data, which will be released tomorrow. Higher
demand in this month with seasonal decline in output, until first quarter of 2024 will support prices according to
analysts.

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SUGAR PRICES WEAK

SUGAR PRICES WEAK

As crushing begins, supply of Sugar increased and sugar prices lower by Rs.10 to 20 in the major markets

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ARECANT PRICES WEEK

ARECANT PRICES WEEK

Arecanut prices are comparitively lower from last seasons corresponding current season and also remaind lower throughout from last years price.

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WEAK DEMAND, SUGAR STABLE, CURSHING BEGAN

WEAK DEMAND, SUGAR STABLE, CURSHING BEGAN

Sugar prices have been weaken in major domestic markets of India due to weak demand and crushing began for the new season. Sugar prices likely to remain stable as new seasons crushing operations started and available in sufficient quantity to meet the demand.

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MAIZE PRICES STABLE

MAIZE PRICES STABLE

Maize prices unchanged in Davanagere of Karnataka. Arrivals at 6000 bags at stable. Prices are likely to increase on lower expectation of production in kharif harvest.

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SUGAR PRICES DOWN ON LOWER DEMAND

SUGAR PRICES DOWN ON LOWER DEMAND

Ex-mill Sugar prices have been fell due to lower demand as traders and stockiests and consumers have been
purchased in sufficient quantity for the needs during festival.

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PALM OIL DOWN 1.6% ON INVENTORIES EXPECTED TO RISE

PALM OIL DOWN 1.6% ON INVENTORIES EXPECTED TO RISE

Malaysian palm oil futures down for the 2nd consecutive session and moving towards monthly loss on lower demand and expectation of stockpiles to rise. Futures for April delivery fell by RM 58 or 1.6% to RM 3679 ($ 772.17) per ton at morning trade. For the month...

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