Cardamom arrivals improves at the auctions
After witnessing lower arrivals in the last few days, the offered cardamom quantity in the auctions has started showing sizeable improvement. It is at 67 tonnes in Bodinayakanur on Friday.
However, traders are keeping their fingers crossed over the low participation from buyers, mostly because of a cash shortage in the market. The main buyers now are upcountry and few local buyers. The traders hope for the the market to become stable in the auctions today.
Global shrimp prices will be under pressure in near-term: ICRA
In contrast to the assurances made by Mpeda that the Coronovirus pandemic will not impact India’s seafood exports, rating agency ICRA has said that global shrimp prices are expected to face pressure over the next few months. The trade has to adjust to the changing demand dynamics in China, a key importer and consumer of farmed shrimp, the agency said.
Sharp fall in pulses import likely due to bumper production
India’s imports of pulses such as chickpeas could slump by 60% to a million tonnes in the 2020-21 financial year on domestic bumper production and government measures to curb overseas purchases, the head of a leading trade body said on Friday.
Lower imports by India, the world’s biggest consumer of protein-rich pulses will help to support domestic prices, but will affect farming communities in Canada, Australia, Myanmar and Russia.
India’s pulse imports are likely to treble to 2.5 million tonnes in the 2019-20 financial year to March, Jitu Bheda, chairman of the India Pulses and Grain Association, said on the sidelines of the Pulses Conclave industry conference.