The government cut agriculture cess on crude palm oil and extended the lower cus-toms duty on edible oils by six months till Sep 30 to cool domestic prices. The govern-ment cut Agriculture Infrastructure and Development Cess on crude palm oil to 5.0% from 7.5%, a finance ministry notification said. The Centre had in October slashed import duty on key edible oils till Mar 31. This has now been extended till Sep 30, the notification said. The government has moved import of moong to the restricted category with immediate effect, the commerce ministry said in a notification. In December, the government had allowed the import of moong without quantitative restrictions under the "free" catego-ry until Mar 31. The move was then aimed at keeping a check on rising prices. Prices of natural rubber in the global market are likely to rise in the short term due to seasonally low supply and resumption of economic activities in China by mid-February, said Jom Jacob, an independent analyst in the global rubber industry and former senior economist at the Association of Natural Rubber Producing Countries.
Spices traded mixed on NCDEX on Friday. Except for coriander, other spices ended down on. Coriander futures pared initial losses to end the session in green supported by forecast of lower production. Jeera futures too received support from lower pro-duction estimates. However, profit booking and improved arrivals in the spot market weighed on, keeping gains under check. Turmeric futures, in the meantime, came under pressure from tepid demand amidst prospects of rise in arrivals in the coming days. 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.
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