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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
SUGAR   India 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 Ton FOB.
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 condition poor.


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.

SPICES  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.

TEA  South India tea output falls 14%. But on account of lower demand prices may remain steady. However ,Indian Tea imports are likely to increase .
 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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