Geojit's report on Agri Picks
Belief that mustard oil is an immunity booster has led millers to intensify crushing of the oilseed. This, in turn, has led to a surge in price of mustard, which is now seen rising to a record high of 7,000 rupees per 100 kg in about a month, market participants said. The Food Corp of India is likely to raise 80 bln rupees through governmentguaranteed bonds in the current financial year started April, an official from the procurement agency said. Castor seed production in the country is expected to fall to 1.78 mln tn in 2020- 21 (Jul-Jun) from the previous estimate of 1.90 mln tn, according to the third survey commissioned by The Solvent Extractors' Association of India. The Organization of the Petroleum Exporting Countries has scaled up its outlook for global oil demand growth in 2021 from its previous estimate, as bulk of the consumption growth is expected to take place in the second half of the year. India is likely to receive "normal" rains during the four-month-long southwest monsoon season this calendar year, private weather forecaster Skymet Weather Services Pvt Ltd said. The Organization of the Petroleum Exporting Countries has scaled up its outlook for global oil demand growth in 2021 from its previous estimate, as bulk of the consumption growth is expected to take place in the second half of the year. Several fertiliser manufacturers have agreed to sell diammonium phosphate and nitrogen, phosphorus, and potassium fertilisers at unrevised rates till available stocks are exhausted, Sadananda Gowda, Union Chemical and Fertiliser minister, said. Global natural rubber production in March is likely to have risen 1.3% on year to 910,000 tn, the Association of Natural Rubber Producing Countries said.
For all commodities report, click here
Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.
Read More