Higher Import Duty Helps Boost Oilseed Prices The increase in the import duty on vegetable oils, which the government of India (GOI) imposed in mid-November 2017 as farmers complained that oilseed prices were below the Minimum Support Prices (MSPs), appears to be having the desired results. The prices of oilseeds, primarily soy and rapeseed mustard, have increased as have those of the oils. Rapeseed mustard oil prices jumped 6.3 percent within 15 days as soyoil rose about 5 percent in seven days, and both then stabilized at those levels.
Meanwhile, soybean seed prices increased 11 percent and continue to move up, and farmers are received more money for their stocks. They also stopped bringing the seeds to market, and the tight supply...
What You Need to Know Today: Russia rejected calls for a ceasefire in the Black Sea, including a proposal to halt attacks on civilian shipping that could help restore grain flows from Ukrainian ports. Tyson Foods announced plans to permanently close its Joslin, Illinois, beef processing facili...
What You Need to Know Today: Wholesale inflation was flat in July, with the Producer Price Index (PPI) unchanged versus expectations for a 0.2 percent increase. Core PPI rose 0.2 percent, also below expectations. The softer inflation data has reduced the odds of a September interest rate incre...
