Agriculture
Soyameal prices may recover soon
INDIAN soyameal prices, which have fallen by $10 per tonne during the past one month, are likely to recover in the near future, according to Mr S. Sivakumar, Chief Executive of ITC International Business Division.
Commodities
Centre permits unauthorised tobacco buy at auctions
THE Central Government has authorised the Tobacco Board to admit the regular and registered traders and dealers of the Board to purchase, at its auction platforms, the excess or unauthorised tobacco produced by registered or unregistered farmers in Karna
taka.
Sugar
Govt. to reimburse transport cost for sugar exports -- Quota release in 2 parts of 45 days
THE Government will reimburse the internal transport cost for sugar exports to mills in an effort to make the commoditys shipments from the country competitive, the Minister for Consumer Affairs, Food and Public Distribution, Mr Shanta Kumar, has said.
Tea
Mixed trend at Kochi tea sale
A MIXED trend persisted for almost all varieties of tea at the Kochi tea auction. Though the dust sale witnessed a good general demand, it was comparatively low for the leaf varieties.
Good demand continues for CTCs at Guwahati sale
THE CTC market continued to attract good general demand but was not as buoyant as earlier. Good and best liquoring Assams continued to witness competition amongst premium buyers and sold at firm levels with selected best appreciating at times.
Technical Analysis
Palm oil may head further south
Crude palm oil futures on the Malaysia Derivatives Exchange, or MDEX, closed lower on Friday on long liquidation ahead of the weekend. A spate of bearish news from SGS and Intertek dominated events last week as MDEX was closed Monday through Wednesday fo
r Ramzan. The export numbers were bearish for the market and weighed on the prices. More fears of exports to slow down through the rest of the month also looms large.
Fall in NY cotton prices likely
Cotton futures managed to close with small gains in a lacklustre trade. With the first of two four-day weekends just ahead, trading in the New York cotton futures was limited with understandably poor volumes. While the cotton market gave back some ground
this week, it remains within the 34.50 to 38 cents trading range of the last six weeks. Choppy price swings are expected during the final three trading days of 2001.
