According to Geojit, Within months of launching Agridex and a monsoon index, the National Commodity and Derivatives Exchange Ltd is exploring the introduction of an edible oil index, in line with suggestions by stakeholders, Managing Director Vijay Kumar said., up 8.3% from a year ago, as of last week, farm ministry data showed.
Geojit's report on Agri Picks
Within months of launching Agridex and a monsoon index, the National Commodity and Derivatives Exchange Ltd is exploring the introduction of an edible oil index, in line with suggestions by stakeholders, Managing Director Vijay Kumar said., up 8.3% from a year ago, as of last week, farm ministry data showed. The country yesterday received 21% below normal rainfall at 7.5 mm, according to the India Meteorological Department. Rains were subdued in three of the four homogeneous regions, despite the monsoon entering an active phase. Rajasthan has written to the Centre, requesting it to declare the locust attack in the country a "national calamity," according to an official release. The Madhya Pradesh government has wrapped up procurement of mustard, chana and masur harvested in 2019-20 (Jul-Jun), an official with state government said. The Oil Palm Developers and Processors Association said the Centre should announce a special package for the northeastern states to boost oil palm cultivation in the region. Taking advantage of the reduced import duty on masur applicable till the end of August, its import so far is pegged at 400,000-500,000 tn, said India Pulses and Grain Association Chairman Jitu Bheda. Haryana has announced a comprehensive plan for crop residue management, with a monetary outlay of little over 13 bln rupees, the state government said in a release. States have so far lifted 4.4 mln tn of food grains from the central pool for distribution under the Pradhan Mantri Garib Kalyan Anna Yojana since Jul 1, a release from the food ministry said. States have distributed nearly 2.4 mln tn of the grains so far among the beneficiaries.The National Commodity & Derivatives Exchange has extended the event-based additional surveillance margin of 5% on guar gum contracts till Aug 25 from Aug 20, the bourse said in a circular.
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