Page 4 - Oilseeds

Oilseeds see sharp increase in prices on restocking by crushing mills

Two major kharif season oilseeds have seen a sharp increase in their prices after the government in mid-November raised the import duty on edible oils, to protect farmers.While soybean has become costlier by 19.4 per cent to Rs 3,303 a quintal, groundnut is up eight per cent since November when the government announced a duty hike, to trade currently at Rs 4,700 a qtl. Quoting at the time below the Minimum Support Price, both leading oilseeds of the kharif harvesting season have since jumped to trade above this benchmark (Rs 3,050 a qtl for soybean and Rs 4,500 a qtl for groundnut). Prices of other oilseeds have also moved up, albeit less. The turnaround has cheered farmers and stockists alike. Oil mills have also started stocking before a further price spike. Both ways, farmers would benefit, presumably encouraging them to bring more area under oilseeds next season.India's hike in import duty has led Malaysia to suspend export taxes on crude palm oil for three months effective ...

Trade measures boost edible oil industry

Seed prices move up after export sops and import duty hikes

Around 20% of soybean output to remain uncrushed this year

Disparity in crushing of oilseeds to bring record carry over stock for next season

Indian oilseeds fall to multi-year lows on supply

Indian soybean one-month futures fell to their lowest in over 5 years

Select edible oils slide on muted demand, adequate stocks

Ample stocks position on increased arrivals from producing regions mainly kept pressure on select edible oil prices