Best Commodity Market News by Money Maker Research

commodity tipsPulses: Pulses prices in the Indian state of Maharashtra mainly Moong and Urad has declined below the Minimum Support Price (MSP) on the back of carryover stock from the previous season which lead to the lack of demand. With the current situation, the Maharashtra government has sent a proposal seeking permission of the centre to start the procurement of Moong and Urad under MSP.

Rice: After a gap of three years, India’s basmati Rice exports witnessed a rebound with the first quarter of the current fiscal year, registering 32% growth, rating agency ICRA said. While the 25% increase was due to better price realisation, the rest was due to increase in volumes, ICRA said in a release. The rating agency said it expects the total volume of basmati exports from the country to be 4.1 million tonnes in the current fiscal, which is an increase of 4% over the previous year.

Kharif Crops: The flood and drought in the major kharif crops growing areas in India is expected to affect the production of major food grains, mainly Rice, Pulses and Coarse Grains. This year’s kharif production is estimated to decline to 129.5 million tons from 138.5 million tons recorded in the corresponding period last year. States like Assam, West Bengal, Bihar, Gujarat, Rajasthan and Uttar Pradesh were affected by flood while the southern states like Tamil Nadu and Karnataka were affected by drought.

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