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Flash News !
Reuters : S G Securities (HK) Limited has further lowered its forecast for India's gross domestic product
growth due to an expected slowdown in agricultural growth as a result of patchy rainfall
distribution in the monsoon season, and the recent oil price hike is bound
to have its negative effects on indian economies.
CURRENT AGRO TRENDS
is currently the world's largest producer of sugar. Kenya plans to import
10,000 tons of sugar.Sugar seems to have a
good future as India steps in to the sugar market for exports. Prices, which were as low as $150 per tonne last year currently, stands at $272 per tonne. Some export rates were ranging from US $258 a Ton to $276 a
100,000 Tonnes of Indian sugar may be exported to Pakistan soon .The cost of shipping from India to Pakistan is just $ 18 per tonne and the shipment time is just two days,
which accounts for these volume exports .
Kenya sugar prices Up as shortages get worse.
SOYABEAN Asian oilmeal output may go up by 15%. Brazil's 2000-01 soybean crop may rise on stronger prices.
Indian soyameal exporters launch marketing drive. Good yield expected out of Soya bean crops. South Korea purchases US soyabeans. US soyabean crop yields down.China may import
soyabeans. Indonesia has bought more than 25,000 tonnes Indian soyameal.
EDIBLE OILS India's STC to buy
palmolein from the International market. Indian Edible oil industry urges for duty
hike. They want an increase in the import duty on palmolein to 75 per
cent to protect the local industry.
Indian Imports of vanaspati from Nepal go up.
Nepal gets the dual benefit of duty free imports and just three per cent export tax on vanaspati. This
gives Nepal a Rs 60 to Rs 70 price advantage per tin of 15 kg while Indian importers continued to
pay 16 per cent customs duty on import of edible oils.Pakistan vegoil prices also fall on fresh arrivals in Pakistan.
OILSEEDS Canada's grains/oilseed stocks estimate lowered. China quiet in oilseeds market. Heavy rain and flood
in AP (India) brings hope to Castor seed futures. USA - Peanut crop
DRYFRUITS AND NUTS
Almond and Pistachios crop position in Greece is fair. French walnut production in
May 2000 is forecast to be
at 27,000 MT.
The cloves market all round the world has flared up. The firming of the
Indonesian Rupiah leads to the firming of Cassia. Star Anise-an absolute shortage in Indian markets and
Cardamom prices rule steady. Pepper prices continues to fall.
South India tea output falls 14%. But on account of lower demand prices
may remain steady. However
,Indian Tea imports are likely to
Sri Lanka's tea production also drops in July. Iraq to import
4m kg of tea under the Food-for-oil plan.
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