"Castorseed to dominate futures market"
Commodity markets the world over have seen more volatility than the stock markets. As a thumb-rule the price variation in the futures market is five times that of the variation in the spot market. This can vary from commodity to commodity. For example, in the case of castorseed futures, the fluctuations are as high as 10 times,
Experts for overhaul of wheat production
Agricultural experts are unanimous in their opinion that the wheat production in the country should be increased to 109 million tonne and maize production to 18 million tonne by the year 2020. A three-day India-CIMMYT conference organised by the Indian Council for Agricultural Research (ICAR) and the International Wheat Research Institute, CIMMYT also identified the thrust areas for implementation.
Cotton yarn exports slump further
Cotton yarn exports, which has been on the downswing since the start of the South East Asian currency crisis in July last year, have touched a new low in February, both in volume and value terms. This has very much unnerved the spinning mills as well as exporters since experts feel the slump in exports may continue for another two years.
Import duty on edible oil may be hiked
After substantially freeing international trade in edible oils (barring oilseeds) in the recently announced exim policy, the government is understood to be toying with the idea of increasing import duties on edible oils in the 1998-99 budget to be announced by mid-May or early June.
Pepper down on fresh arrivals
Black pepper prices hit an all-time high but closed at lower levels, following a technical correction during the week ended April 17. The price of garbled pepper zoomed to Rs 22,400 per quintal, a gain of over Rs 700 compared to the last week's closing rate of Rs 21,700.
WB for oilseed futures trading
World Bank has suggested that India should introduce forward and futures trading in oilseeds to manage price fluctuations. It has also called for curbing discretionary intervention of Forward Market Commission, the regulatory body governing commodities trading.
