Oilseed exports have fallen by over 30 per cent during the five months ended August 1998, while imports of palm oil and soyaoil have surged substantially during the 10-month period ended August 1998. Himachal Pradesh may miss the anticipated bumper apple crop.

HP apple crop hit by pests

Use of highly concentrated Nepthaline and presence of red mites have dashed hopes of a bumper apple crop this season in Himachal Pradesh, according to experts.

Agro-forestry vs teak bonds

Plantation companies gave agro -forestry a bad name. They promised the earth, the moon and beyond. Investors lost money and serious agro-forestry awaits due attention. The Sebi stepped in to protect gullible investors, but this was much too late, locking the stable doors after the horse had bolted.

Board supports coconut oil futures

In a major shift in stand, the Coconut Development Board (CDB) has recommended the introduction of futures trade in coconut oil on an experimentalbasis. The Board has also recommended a Minimum Support Price (MSP) of Rs 3,900 for milling copra and Rs 4,200 for edible copra for the 1999 season.

However, sources in the Board and industry feel that the Commission for Agriculture Costs and Prices is likely to fix the MSP at Rs 3,000 per quintal for the 1999 season, Rs 100 more than the MSP fixed for 1998 season.

Cardamom falls Decline in festival demand and lower offering of superior green quality cardamom had led to crash in the highest price quoting in the second cardamom auction of the 1998-99 season at Navi Mumbai at Rs 670 per kg, marking a fall of Rs 41 compared with the price quoted at the first auction. Diwali demand and first offerings of the season in the local market had led to higher auction prices at the first cardamom and black pepper auction of the season 1998-99 held on October 5 at the Agriculture Produce Market Commission (APMC) market.

Decline in US coffee stocks

A decline in US consumer coffee stocks during September wasin line with expectations, but some traders and analysts said the drawdown could help push CSCE arabica coffee futures higher. Supplies of green coffee stored in US warehouses fell in September by 141,000 60-kg bags, to 1,680,000 bags, the Green Coffee Association of New York reported late Thursday.

Finished steel consumption up Consumption of finished steel in the country during the first half (April- September) of the current fiscal increased by 5.7 per cent (0.603 million tonnes) on the corresponding period of the previous fiscal.

Copper likely to remain bearish

Copper is expected to remain weak over the next fortnight and may even dip below $1,580-90 per tonne on the London Metal Exchange, say analysts. "The metal is showing signs of bearishness for the week ahead and may pierce the $1,600 per tonne level on the LME. Domestic prices are also showing somewhat a similar trend as producers have huge inventories. But I expect the local market to be steady next week," says Sharad Parihk, presidentof the Bombay Metal Exchange.

Cement deal in Philippines

The latest cement deal in the Philippines could signal an end to a wave of foreign consolidation sweeping through the Philippine cement sector, analysts said. Southeast Asia Cement Holdings Inc said last week had issued 988 million shares to Lafarge SA and Calumboyan Properties in return for $23 million.

Diamond firms expect bumper sale

Some leading diamond firms, who have set up shops to cater to the domestic demand, are quite optimistic about the Diwali season sales of diamond jewellery as well as plain gold ornaments. They are ready with special products for the festive occasion.

Rising imports depress solvent price

Prices of most of the solvents used by the chemical industry have declined considerably over the last one year. Prices of solvents like isopropyl alcohol (IPA), fell from Rs 41.50 per kg in September 1997 to the current level of Rs 34.50. Methanol is down from Rs 12.50 a kg to Rs 8.25 per kg in the sameperiod. Ethylene di-chloride has slipped from Rs 27 per kg to Rs 14 per kg. Traders site hike in imports coupled with low prices of its basic raw material -- crude oil as the main reasons for the drop in prices.

Depreciation in currencies in the south east Asia has also been a reason.

DAP shortage to hit Rajasthan crop

The crippling shortage of DAP (di-ammonium phosphate) fertiliser is bound to affect the overall rabi production in Rajasthan this year even though the government is making desperate efforts to lower its impact. Sources say that the total shortage (of DAP) is to the extent of about 80,000 tonnes. The state agriculture department has estimated the total consumption of DAP during the rabi at two lakh tonnes but the firm commitments received so far from the suppliers are to the tune of 1.20 lakh tonnes.

Cotton futures to start cautiously

Trading in Indian cotton contracts, slated to start on October 29 or 31, may be in for too much control, say observers. According to anorder by the Forward Markets Commission (FMC), to check speculation, trading in December 1998, February 1999 and April 1999 deliveries would be subject to a three-stage regulatory measure. First, trading 135 per cent above or 65 per cent below the benchmark price will be prohibited. The benchmark price is arrived at by calculating the average of the opening, highest, lowest and closing prices of the contracts traded on the first five days.

Cotton yarn production declines

Sharp decline in demand from overseas coupled with a weak domestic offtake, has severely affected cotton yarn production in the country. The cotton production has touched a new low of 161.77 million kg in April 1998 for which period statistics are available now.