According to trends at 167 price collection centres, rates of edible oil have declined by 5-20 rupees per kg in major retail markets across the country, according to an official release. The new crop of turmeric has started arriving at the physical markets of Nizamabad, Telengana last week, traders told Informist. The United States Department of Agriculture has allowed import of mangoes from India this season, according to an official release. The Multi Commodity Exchange of India will impose an additional margin of 3% on both the long and short sides of cotton contracts, from Wednesday, the exchange said in a circular late Monday. Mixed trend was seen in NCDEX spices complex on Tuesday. Jeera March futures pared losses to end the session in green on improved demand and forecast of lower production. Turmeric April futures too ended the session on a positive note after declining during the morning session trades. Expectation of lower production due lend support. In the meantime, Coriander April futures came under profit booking and rise in arrivals in the spot market. However, forecast of lower production in the 2021-22 rabi season limited losses. According to the second advance estimates by Gujarat state agriculture department, jeera production is seen declining to 236980 tons in 2021-22, down 41 per cent year on year. Area is seen at 289000 ha as against 473800 ha a year ago. Coriander production is seen declining as well to 211680 tons compared to 221240 tons in 2020-21.
Source:moneycontrol.com