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| As on Nov 20, 2019 12:00 AM |
Your results on : Mid Session |
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Malaysia plans to levy from next year an additional one ringgit ($0.24) tax per metric ton of crude palm oil produced in the country to channel such income to a proposed fund aimed at financing reforestation and wildlife conservation as the world's second largest producer of the commodity ramps up efforts to boost sustainable palm plantation. The state-run Malaysia Palm Oil Board will collect the additional tax from the oil palm industry players, the federal Minister Of Primary Industries Teresa Kok said at a conference on Tuesday. Currently, for every metric ton MPOB collects 13 ringgit tax. Powered by Commodity Insights |
Growth of real gross domestic product (GDP) in the OECD area slowed marginally to 0.3% in the third quarter of 2019, compared with 0.4% in the previous quarter, according to provisional estimates. Among the Major Seven economies, GDP growth slowed markedly in Japan (to 0.1%, compared to 0.4% in the previous quarter). GDP growth was stable in the United States (at 0.5%) and it remained stable in France (at 0.3%) and Italy (at 0.1%) for the third and fourth consecutive quarter, respectively. GDP growth picked-up in the United Kingdom and Germany (to 0.3% and 0.1%, respectively, following a contraction of 0.2% in both countries in the previous quarter). GDP growth was stable in the euro area (at 0.2%) while it picked-up marginally in the European Union (to 0.3% compared with 0.2% in the previous quarter). Year-on-year GDP growth for the OECD area was stable at 1.6% in the third quarter of 2019. Among the Major Seven economies, the United States recorded the highest annual GDP growth (2.0%), while Italy recorded the lowest annual growth (0.3%). Powered by Commodity Insights |
| COMEX Gold steadied around two week top amid choppy movement in the global equities. The metal currently trades at $1476 per ounce, up 0.11% on the day. MCX Gold futures are currently trading at Rs 38250 per 10 grams, up 0.12% on the day. Equities eased in Asia and started on a downbeat note in Europe as well. The US stocks slipped from record highs as tepid forecasts from retailers Home Depot and Kohl's fueled worries about consumer spending and worries over lack of clarity on the US-China trade front continued to weigh on the market. The US President Donald Trump on Tuesday threatened to escalate the trade war by raising tariffs on Chinese imports if no deal is reached with Beijing. Powered by Commodity Insights |
Germany producer prices fell by 0.6 percent year-on-year in October, bigger than the 0.1 percent drop in September, data from Destatis showed Wednesday. This was the second straight decrease. On a monthly basis, producer prices dropped 0.2 percent, in contrast to a 0.1 percent increase in September. Prices were forecast to rise 0.1 percent. Excluding energy, producer prices gained 0.3 percent on month but declined 0.2 percent from the same period last year. Energy prices decreased 3.1 percent annually. Powered by Commodity Insights |
As per official data, for Russia as well as for other Black Sea countries, the 2018/19 season was the most successful in the sunflower seed segment, which showed new highs. As per data, a record crop of 12.7 MMT as yield rose to the highest ever level (+10.3% from MY 2017/18) and acreage expanded (+1.5%). sunflower seed exports reached a near-record 353.6 KMT (the highest ever volume - 368.5 KMT - was shipped abroad in MY 2016/17). Powered by Commodity Insights |
International Prices Of Imported Edible Oil At Domestic Ports | Imported Oil | Prices |
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| CIF ( $ per Tonne ) | CPO | Nov 645 | | RBD | Nov 680 | | CIF ( $ per Tonne ) | SOYA OIL | Nov 770 | | SUNFLOWER OIL | Dec 765 | | High seas ( Rs per Kg ) | CPO | Ready 659 | | SOYA DEGUM | Ready 762 |
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| NCDEX Mustardseed futures edged up today after witnessing a modest drop earlier in the week. Traders are looking at a slightly delayed sowing progress. The sowing has started on a dull note due to late rains in September and October. Farmers are waiting for water to dry up from their fields in low-lying areas. According to the latest agri ministry data, the sowing under Mustardseed stood at 43.09 lakh hectares as on mid-November 2019, down 2.11% compared to the same time last year. The overall rabi oilseeds acreage is down 2.63% at 46.12 lakh hectares. The NCDEX Mustardseed futures are currently trading at Rs 4288 per quintal, up 0.42% on the day. The near month November contract is expiring today and currently trades flat at Rs 4290 per quintal. Powered by Commodity Insights |
| China continued to ease monetary policy as it reduced its new benchmark lending rates today. The one-year loan prime rate was cut to 4.15% from 4.20%. The five-year loan prime rate was also cut to 4.80% from 4.85%, which was the first reduction since the new rate was introduced. Earlier on Monday, the People's Bank of China had lowered the seven-day repurchase rate to 2.50% from 2.55%. Powered by Commodity Insights |
| Australia's leading index edged up moderately in October but it remained below trend suggesting weak economic momentum carrying well into 2020, the Westpac reported Wednesday. The six-month annualized growth rate in the Westpac- Melbourne Institute leading index, which indicates the likely pace of economic activity relative to trend three to nine months into the future, increased to -0.91% in October from -1.01% in September. The leading index growth rate deteriorated over the last six months to -0.91% in October from -0.53% in May. Powered by Commodity Insights |
LME Inventories Data - 19 November 2019 Aluminium 1158975 (2725), Copper 219475 (-1975), Nickel 66174 (1344), Lead 67025 (275), Zinc 56275 (4050). All figures in tonnes, Daily change in bracket.
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The Indian rupee fell further against the dollar in early trades on Wednesday, 20 November 2019 alongside other regional peers as US-China trade deal concerns weighed on the investor community. If we don't make a deal with China, I'll just raise the tariffs even higher, Donald Trump reportedly said. Moreover, sustained foreign fund outflows and strengthening of the American currency vis-a-vis other currencies overseas dragged down the local unit. Foreign institutional investors (FIIs) remained net sellers in the capital markets, pulling out Rs 915.37 crore on Tuesday, as per provisional data. However, positive opening in domestic equities and easing crude oil prices supported the domestic unit. The domestic currency opened at Rs 71.80 against the dollar but recovered to a high of 71.68 so far during the day. In the spot currency market, the Indian unit was last seen trading at 71.70. The rupee had settled at 71.71 against the US dollar on Tuesday. Domestic stocks were trading higher in early trade on buying demand in index pivotals. Shares of index heavyweight Reliance Industries surged. At 9:20 IST, the barometer index, the S&P BSE Sensex, was up 174.36 points or 0.43% at 40,644.06. The Nifty 50 index was up 53.75 points or 0.45% at 1,993.85. The Nifty was currently trading below the psychological 12,000 level after hitting day's high above that level in early trade. Overseas, Asian stocks were trading lower in the absence of progress in US-China trade talks. U.S. stocks closed mostly lower Tuesday, with the Dow and S&P 500 retreating from records, on disappointing earnings results and doubts about a U.S. - China trade deal. The Nasdaq, however, notched a record finish on the strength of technology shares. The United States would raise tariffs on Chinese imports if no deal is reached with Beijing to end a trade war, U.S. President Donald Trump reportedly said on Tuesday, threatening an escalation of the spat that has damaged economic growth worldwide. Meanwhile, the dollar and the safe-haven yen edged higher on Wednesday, but not much, as a lack of clarity on U.S.-China trade talks kept investors cautious. The dollar was marginally higher against the euro at $1.1074 and a fraction stronger against a basket of currencies (DXY) at 97.889. Powered by Commodity Insights |
According to the latest update as of November 18, winter wheat planting is 95% complete, winter rye and barley are 100% planted, The area planted to winter rape is already 7.2 Th ha above the official forecast and up 5.0% year-on-year. Corn harvest accelerated to 14.0% ahead of last year, its yield is down 6.5% from last year. Buckwheat harvest is actually finished (66.71 Th ha harvested out of the total 67.59 Th ha), the grain crop is down 33.8% year-on-year. Millet harvest is 72.3% ahead of last year, with 17.9% higher yield than in 2018. Powered by Commodity Insights |
Euro area current account surplus totaled EUR 28 billion in September versus EUR 29 billion in August, largely due to the fall in primary income, data from the European Central Bank showed Tuesday. In the same period last year, the surplus came in at EUR 21 billion. The surplus on trade in goods decreased to EUR 27 billion from EUR 28 billion a month ago. Likewise, primary income declined to EUR 4 billion from EUR 7 billion. Meanwhile, the surplus on services rose to EUR 10 billion from EUR 7 billion in the previous month and the shortfall in secondary income narrowed to EUR 13 billion from EUR 14 billion. Powered by Commodity Insights |
| According to the minutes of the latest Monetary Policy Meeting of the Reserve Bank of Australia (RBA), the outlook for the Australian economy was little changed since August. After a soft period in the second half of 2018, GDP growth had picked up a little in the first half of 2019 and it appeared that a gentle turning point had been reached. Looking forward, growth was expected to strengthen gradually to 2.75% over 2020 and around 3% over 2021. This outlook was expected to be supported by accommodative monetary policy, recent tax cuts, ongoing spending on infrastructure, the upswing in housing prices in some markets and a pick-up in mining investment. An important domestic uncertainty continued to be the outlook for consumption, with the sustained period of only modest increases in household disposable income continuing to weigh on consumer spending. The RBA monetary board would continue to monitor developments, including in the labour market, and was prepared to ease monetary policy further if needed to support sustainable growth in the economy, full employment and the achievement of the inflation target over time. Powered by Commodity Insights |
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