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Epic Research Daily Agri Commodity Report Of 23 October 2018

NCDEX Tips

India, 23 October 2018 -- Exports of the vegetable oil were seen at 3.06 million tonnes in September from 2.83 million in August.

Palm oil production in Indonesia, the world’s top producer of the vegetable oil, rose in September buoyed by peak harvest season, while demand from top buyers boosted exports, according to a survey by Reuters. Palm oil output rose to 4.25 million tonnes last month from 4.01 million in August, according to a survey of a palm oil group, a state palm research firm and a senior industry expert.

Exports of the vegetable oil were seen at 3.06 million tonnes in September from 2.83 million in August.

Respondents said demand from top importer India is seen helping boost shipments, while Indonesian exporters are expected to sell their products at a lower price in September.

Meanwhile, Indonesia’s implementation of mandatory use of B20 programme, which uses palm oil for its bio-content, has helped domestic consumption of the oil to increase to 1.12 million tonnes last month from 1.05 million tonnes in August, according to the survey.

By the end of September, palm oil stocks were estimated at 4.80 million tonnes, up from 4.64 million tonnes in the previous month.

EconomicNews

World coffee production in coffee year 2017/18 (1 October 2017 to 30 September 2018) is estimated 5.7% higher at 164.81 million bags as output of Arabica increased by 2.2% to 101.82, and Robusta grew 11.7% to 62.99 million bags, according to the September 2018 coffee report from the International Coffee Organization (ICO).

The larger supply in coffee year 2017/18 is reflected in increased shipments in August 2018, as global exports increased 6.3% to 11.1 million bags compared to August 2017.

In coffee year 2017/18, world consumption is estimated 1.8% higher at 162.23 million bags, but coffee production exceeds this by 2.58 million bags. This surplus has contributed to the low prices this season.

Prices for all group indicators fell for the fourth consecutive month in September 2018. The largest decrease occurred in the average price for Robusta, which fell by 5% to 76.70 US cents/lb followed by a decline of 4.4% to 99.87 US cents/lbfor Brazilian Naturals.

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Submitted by Epic Research, Epic Research Pvt.Ltd indore on Tuesday, 23 October 2018 at 1:10 PM
Category: Business
 
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