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Agri Picks Report: Geojit.


Date: 30-12-2021
Subject: Agri Picks Report: Geojit
Indonesia's crude palm oil output is expected to rise 2.6% next year to 51.01 million tonnes from a 2021 estimate of 49.71 million tonnes, head of the Estate Crop Fund Eddy Abdurrachman said. Production of canola in Canada for 2021-22 (Aug-Jul) is seen at a 13-year low of 12.6 mln tn, Agriculture and Agri Food Canada said in its December report. Supply of canola for the country is estimated at 14.5 mln tn, the lowest since 2008-09, on tight carry-in stocks, reduced output and modest imports. Export of canola is likely to fall 49% on year to 5.4 mln tn. Volatility for canola prices is expected to remain high with the market vulnerable to sharp corrections from either demand or supply shocks. There seems to be some good news on the food prices front. Vegetable prices, which have been driving up retail inflation in the last couple of months, have moderated significantly in December so far. Agriculture and Agri Food Canada has estimated the production of masur in Canada in 2021-22 (Aug-Jul) at 1.6 mln tn, 10.9% lower than the outlook last month, because of lower yields.Indonesia's crude palm oil output is expected to rise 2.6% next year to 51.01 million tonnes from a 2021 estimate of 49.71 million tonnes, head of the Estate Crop Fund Eddy Abdurrachman said. Production of canola in Canada for 2021-22 (Aug-Jul) is seen at a 13-year low of 12.6 mln tn, Agriculture and Agri Food Canada said in its December report. Supply of canola for the country is estimated at 14.5 mln tn, the lowest since 2008-09, on tight carry-in stocks, reduced output and modest imports. Export of canola is likely to fall 49% on year to 5.4 mln tn. Volatility for canola prices is expected to remain high with the market vulnerable to sharp corrections from either demand or supply shocks. There seems to be some good news on the food prices front. Vegetable prices, which have been driving up retail inflation in the last couple of months, have moderated significantly in December so far. Agriculture and Agri Food Canada has estimated the production of masur in Canada in 2021-22 (Aug-Jul) at 1.6 mln tn, 10.9% lower than the outlook last month, because of lower yields.

Source:moneycontrol.com

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