Commodities
Global vegoil stocks may dip
CONTINUING the trend of last three years, global output of major vegetable oils is projected to increase somewhat slowly in 2001-02, while ending stocks are slated to reach a four-year low. Compounded by weather uncertainties, this could keep internation
al vegetable oil market buoyant, the signs of which have been visible over the last several weeks.
Pesticides
Pest warning system for groundnut crop
AN automatic solar-powered instrument which will warn farmers when to spray fungicide against leaf spot diseases of groundnut has been developed by the International Crops Research Institute for the Semi-Arid Tropics (Icrisat) and its national partners i
n India.
Rubber
Rubber growers offer to meet industry's demand
RUBBER growers have offered to supply enough quality and graded rubber demanded by the manufacturing industry. The offer was made in the light of the attempts by the tyre makers to import rubber under OGL alleging scarcity of the commodity within the cou
ntry.
Technical Analysis
Malaysia palm oil likely to dip
Malaysia's palm oil futures saw prices making a 22 month high last week but ending at low levels due to profit taking and absence of fresh leads. Palm oil futures climbed to its highest level in 22 months on Wednesday but fell back by the close after tra
ders booked profit due to the absence of fresh factors. It closed mostly lower on Thursday amid liquidation and profit-taking on expectations of weak exports in August.
Bearishness may continue in NY cotton
NY cotton futures saw prices falling to new lows due to a record US crop and the carryover projection approaching 46 per cent of total usage. Ideas the crop could continue to grow with additional moisture this week and large global stock forecasts furthe
r weakened the bearish chart picture. The week started firmly with speculative buying and later getting capped due to the weakened storm bringing rain over cotton crops.
