Geojit's report on Agri Picks
India's castor oil exports fell 5.2% on year to 43,516 tn in February, according to data from Solvent Extractors' Association of India. A year ago, exports were at 45,900 tn. India's 2020-21 (Jul-Jun) mustard output is seen rising to 22.6% on year to 8.95 mln tn, according to a joint survey by the Central Organisation for Oil Industry and Trade and the Mustard Oil Producers' Association. The Solvent Extractors' Association of India has requested the government to impose duty on import of oleochemicals to protect the domestic industry from huge imports at zero duty. There is currently no proposal to reduce the excise duty on petrol and diesel by 8.50 rupees per ltr, Minister of State for Finance Anurag Thakur said. The Centre has set the import quota for tur and moong for the upcoming financial year starting April at 400,000 tn and 150,000 tn, respectively, according to a notification from the Directorate General of Foreign Trade. In a serious indictment of National Stock Exchange Ltd's inept handling of the trading outage on Feb 24, the market regulator has asked the exchange's board to fix individual responsibility and determine why the management failed to shift operations to the disaster recovery site within the stipulated time. UK-based trading house Czarnikow expects the global sugar market to be in a surplus of 3 mln tn during 2021-22 (Oct-Sep), for the second year in a row. The National Commodity & Derivatives Exchange has extended the 5% additional surveillance margin on turmeric contracts to Apr 15 from Apr 13, according to a circular.
Source:moneycontrol.com