Malaysia’s Jan. 1-25 Palm Oil Shipments Eased 8.3% – SGS
Shipments of Malaysian palm oil during January 1-25 fell by 8.3 percent to 931,173 tonnes from 1,015,105 tonnes in the corresponding period last month.
Top buyers were European Union at 198,188 tonnes (266,465 tons), India at 170,000 tons 203,400 tons), China at 97,607tons (22,200tons), United States at 54,735 tons (101,712 tons) and Pakistan at 29,000 tons (39,500tons). Values in brackets are figures of the corresponding period last month, reports cargo surveyor Societe Generale de Surveillance.
Argentina is Expected to Harvest 58 Mn T of Soybean in 2015/16 – BAGE
Argentina is likely to produce 58 million tonnes of soybean in 2015/16. This is the first estimate by Buenos Aires Grain Exchange in the weekly report last week.
However, according to the estimates by the government agency, the Argentina’s 2015/16 soybean production is estimated near 60 MMT which is below last year production of 61.4 MMT.
Wheat Area Lags Behinsd By 4.46 % To 291.97 Lakh Ha Till 22nd Jan-2016
All India Wheat Area coverage recovered slightly from 288.98 to 291.97 lakh ha till 22nd Jan-2016. Despite recovery week on week basis, overall area coverage lags behind by4.46% till date.Total area coverage had been recorded at 305.6 lakh ha last year till 22jan-2015.Gujarat lags behind by 20.90 %,M.P by 10.82% and UP by 4.09 %.As wheat sowing is over now,weather condition remains very crucial for yield as sowing has been delayed by two weeks.
Castor Oil Export Increases By 21% To 6424.08 Tonne Last Week
Castor Oil export during the week ended 17 th Jan-2016 was registered at 6624.08 tonne, higher by by 21.78 % from previous week(5442.65 tonne). India exported at an average FoB price of $1308.97 per tonne, lower by 2.97 percent from previous week. It had exported 5442.65 tonne oil during the week ended 10th Jan-2016 at an average price of $1343.51 per tonne.
Yellow Flower In Castor Plants May Reduce Yield By 10 To 15% In parts Of Gujarat
Yellow flowering in castor plants in Mahesa,Banskantha and other regions have been reported by farmers and it may reduce normal yield expectation by 10 to 15 % and resultantly the crop size by 50,000 thousand tonne in that particular area. If weather turns rough castor price may firms up in the season once again.Hailstorm,heavy rains and higher than normal temperature too may damage castor yield. However, at current condition market is likely to trade bearish. Stake holders must keep eye on any weather aberation.