Agriculture
Hiking APL offtake may pare FCI inventories
IT is now clear that a major reason behind the unprecedented accumulation of foodgrain stocks in the Food Corporation of India's (FCI) godowns has to do with the Centre's ill-advised move to root out the above poverty line (APL) population from the publi
c distribution system (PDS).
Rubber
No case for duty-free natural rubber import
THE controversy surrounding rubber has come alive again. As the rubber market began firming up after staying low for more than three years, products manufacturers are seeking ways to restrain the price rise.
Tea
PAT seeks to extend ST sop on all sale
WHILE thanking the Tamil Nadu Government for extending the concessional sales tax rate on teas sold in Coimbatore and Coonoor auctions for a further period of six months, the Planters' Association of Tamil Nadu (PAT) has requested for extension of the be
nefit to sale of all teas.
Technical Analysis
Palm oil may have touched lasting bottom
Though Malaysia's palm oil futures closed the week on a slightly negative note, the entire week saw prices trading at a higher range. The week began on a positive note, with Indonesia, the second largest producer of palm oil, showing signs of having a sh
ortage caused by aggressive exports. Chicago soyaoil prices also firmed up during the week and this lent good momentum to the markets.
NY Cotton up on China, India buys
NYCE cotton futures settled at a near three -week peak. Trade buying and talk of purchases by India and China boosted prices up wards. Funds, which were short, were caught on the wrong side and covering by them also helped the markets upsurge. The next s
upply/demand report is anticipated on June 12, with the market beginning to calculate potential cuts to domestic use and possible increases to export sales.
