Gold Silver Reports — The latest release from United States Department of Agriculture (USDA) stated that India will still import close to 4 million tonnes of wheat from other nations despite of record production in current season.
Gold Silver Reports — The NCDEX Soyabean futures are likely to remain under pressure in the coming days on the account of favourable rainfall in major soyabean sowing states along with bearish cues from global market.
Gold Silver Reports — As per latest update from FAO, the World cereal trade in 2017/18 is heading towards a 2.2 percent annual decline to around 386 million tonnes. International wheat trade is set to decrease by 2.2 percent in 2017/18 (July/June) to 170 million tonnes.
Technically Jeera market is under fresh buying as market has witnessed gain in open interest by 24.4% to settled at 12435 while prices up 720 rupees.
Gold Silver Reports — Some recovery was seen in castor seed market in the wake of weak production estimates in the current year. As per the latest survey data compiled by SEA OF India, Indias total castor seed production in the current year is expected at 11.25 lakh tonnes against 13.90 lakh tonnes, down 17 percent from the last year.
Gold Silver Reports — As per the latest crop survey data release by Neilson agency during the SEA of India mustard conclave that the total mustard seed production in the current year is estimated at 71.09 lakh tonnes plus 1.20 lakh tonnes of toria crop. This is almost 2 lakh tonnes higher than the Mustard Oil Producers Association (MOPA) estimates of 69.25 lakh tonnes .
Gold Silver Reports — India is considering a cut in import duty on sugar from the current 40% owing to increasing inflation and downward revision of production targets by sugar mills, government officials said. India is the world’s biggest aggregate consumer of the sweetener and often imports the commodity when local output falls, to prevent prices from soaring.