Commodity Trade Mantra

Agro Commodities Update.

 

Agri Commodities

Agro Commodities Update.

Exports of Malaysian palm oil products for April 1-20 fell 5.6% to 844,453 tonnes from 894,594 tonnes shipped during March 1-20.Argentinacut its official estimates for this season’s soy and corn crops, citing bad weather, while a top grains exchange said lower-than-expected yields may force it to trim its expectations as well.Argentina, the world’s second largest exporter of corn and third largest supplier of soybeans, is set to produce 42.9 million tons of soy and 20.3 million tons of corn in this crop year. As per latest release from Vietnam Food Association,Vietnamexported around 4.13 lakh tonnes of rice valued at $180 million during the April 1-19 period. Data revealed thatVietnamexported around 1.50 million tonnes of rice, valued at $709 million during January 1 to April 19, 2012.

China’s imports of sugar augmented by six times from the last year to reach 5 lakh metric tons while its soyoil imports increased by 3.7% on year to 3.10 lakh tonnes in the first quarter this year.

Indian Agro Commodities Update- Pulses prices are likely to remain lower on currently increased arrivals from Madhya Pradesh and Rajasthan but prices are expected to rebound as the demand -supply gap is large.India’s production of pulses is expected to fall by 5.26% to 17.29 million tons against18.24 million tons in 2010-11. The consumption of pulses in the country is on the rise with an annual growth of around 5%. Chana (chickpea) production is expected to decline by 6.8% to 7.66 million tons as compared to 8.22 million tons, last year. And the production is further expected to move down as the farmers are not receiving enough remuneration from the crops.India’s pulses imports is likely to move up from present over 3 million tons to 7-8 million tons by 2020 unless the production of pulses is substantially hiked.

This is likely to raise the prices further. However as of now, gains have been capped due to heavy arrivals from Madhya Pradesh and Rajasthan currently doing rounds. Around 74% of Indian chickpea imports come from Australia. India’s pulses industry wants the government to include pulses in the Public distribution system (PDS) to increase domestic production as well as to improve the earnings of the farmers. If the government includes pulses in PDS, the farmers get at least the minimum support price (MSP).

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