2009-06-28 15:45:00
The sugar output may touch 16.5 mt next season as against earlier estimates of of 14.5 mn tonnes —gaining support from Maharashtra output which is not likely to be affected by slow monsoon progress.
Demand for potatoes is expected to surge as delayed monsoon could lead to a shortage of commodity. With potato already in short supply, traders are expecting prices to rise by Rs 200 to Rs 300 per quintal.
The Bombay Stock Exchange benchmark Sensex surged over 419 points on Friday on frantic buying as investors took cues from higher Asian and European peers.
Two edible industry association have come out with conflicting statements – Solvent Extractors Association of India urging the government to increase customs duty on edible oil to encourage domestic growers while Vanaspati Consultative Committee (VCC) has called for maintaining status quo to provide edible oil at reasonable prices for consumers and support the Vanaspati industry. Demand for allowing FIIs, mutual funds to trade in comexes are other measures proposed for consideration of Union Finance Ministry.
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