India’s import of refined palm oil drops to nil for the 2nd month
India’s refined palm oil imports dipped to zero for the second consecutive month in August this year as against 2.57 lakh tonnes imported during the same month last year, according to trade body Solvent Extractors’ Association of India (SEA).
The import restrictions placed on the refined palm oil (RBD Palmolein) has encouraged domestic processing as there has been a 23 per cent rise in crude palm oil (CPO) imports to 7,24,351 tonnes in August this year as against 5,87,329 tonnes recorded in the corresponding month last year.
Fall in India’s output drags global black tea production
The Covid-induced national lockdowns and adverse weather have massively pulled down the production of black tea in India and subsequently, the global output as well.
“According to our compilation of the official data received from various countries, the global black tea production till July has declined to 1,067.51 million kg (mkg) from 1,150.16 mkg in Jan-July 2029,”
Price of pulses rises in Indore mandis
Despite subdued physical demand, rise in chana future lifted pulse seeds’ prices in Indore mandis with masur (bold) here on Friday rose to ₹5,700 a quintal. Compared to last week masur is ruling ₹100 higher. Urad (bold) also ruled higher at ₹6,500-6,700 a quintal (up ₹200 from last week), while moong (bold) rose to ₹6,600-6,750 a quintal. Moong (average) on the other hand was quoted at ₹5,200- 5,800. Reports of damage to moong and urad crops in Karnataka and States has also added to uptrend in moong and urad. Rise in future and declining government stock with NAFED releasing large volume of chana to government for distributing to the poor people under welfare schemes have added to uptrend in chana with chana (kanta) today rising to ₹5,100 a quintal.