There is a rise in the export units of Malaysia’s palm oil in the month up to 745,260 tn. The prices for groundnut are gradually increasing by 10% with more demand for derivatives, stockiest, and millers.
The current prices of edible oil are at a higher level. Thus, the government may reduce the import duty on it as told by a senior government official.
In case of default of delivery in agricultural commodity derivatives, SEBI may charge a fine.
Europe is taking measures to control the spread of the virus by implying restrictions. As a result, there is a downfall of 4% in the oil prices globally. This may increase the oil demand.
From April 1 the National Commodity & Derivatives Exchange Ltd is going to increase 6% in the price of commodities.
International Research Institute for Climate gave information about the better conditions of the weather pattern in the east-central Pacific Ocean.
There are demand concerns in Europe with the rise in the spread of the virus as the third wave may raise the chances of lockdown and travel restrictions.
Earlier at the starting of the month, there was a bullish trend in the prices of the commodity market. This increased the export from the country. There were tremendous changes in the prices due to the pandemic situation all over the world.
Consequently, the prices of agricultural commodities saw an upward movement in the international market. The supply constricted due to the reduction in the production of the goods.
Therefore, India experience growth in the agricultural and allied sector in the third quarter.
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