Agri Commodity Market Reviews 08 March

Rains in India's North West likely to have short term positive impact on agri futures

Rains in parts of North-West and Central India could have a short time bullish impact on the commodity rates as cropping progresses on. Any harm to the existing standing harvest may sustain the declining rates for most Agri counters as summer season Festival demand too begins growing in the mandis. Firmness in global markets too may impart some firmness in Indian rates as modest uptrend in rates can’t be ruled out present week.

A modest firm movement persisted for Chana previous week as rains in parts of North-West India amidst pick up in summer season Festival local demand supported rates. After the recent drop in charges for Chana from the budgetary provisions, rates improved on healthy fundamentals.

No healthy movement was noted for Guar even as rates stabilized at these lesser ranges. Lack of healthy exports is preventing any major improvement in rates.

Rates improved for Jeera previous week but lack of healthy export demand limited the uptrend. Any deep rains in Gujarat and Rajasthan may badly impact the standing harvest and lead to slighter arrivals. Turmeric failed to continue over the 9000 mark even as overall sentiments look firm.

India expects Mustard production to be higher by 6 lakh MT

India's oil seeds acreage has improved and mustard production is also expected to boost, according to officials. Area under production of oilseeds during 2015-16 has improved 2.1 percent and mustard production is anticipated to be upper by 6 lakh MT, the representative of Ministry of Agriculture and Farmer Welfare said in an inter ministerial gathering.

India's edible oilseed production has been falling from 32.7 million in 2013-14 to 26 million tonnes in 2014-15, as per the study conducted by ASSOCHAM in 2015. The study says reduced hope on edible oil imports could be brought about by improved local oilseed production, but barring much stronger cost incentives, production and yield expansions depend on enhanced plant varieties and cultivation practices.

Assocham says oilseed wealth of the country faces a host of faces on technological, institutional and policy fronts and these not to be tackled well. ASSOCHAM had suggested modernization of oilseed production, processing, and the marketing of vegetable oils, oilseeds, and by-products. Read More Info Visit Here: - http://www.shareshoppe.in