[email protected]: Farmers protest in various states to end agrarian crisis
The commodities trade has witnessed a bumpy ride with almost all prices trading in the negative. Starting with edible oil prices, cues from global markets are on the weaker side, which have led soya bean prices to a 2-week low, more so as the US has suggested higher crop this year and carryover stock from the previous year.
Malaysian palm oil is also at a 19-month low, which is putting pressure on edible oil space. Spices also traded flat or were in the negative.
Considering the arrival of the Rabi crops season in India, government duties levied on sugar, wheat pulses and edible oil, have led to a decline in prices in international markets which is reflecting in India.
All this coupled with the farmers protests in Maharashtra and other parts of the country over various demands, markets will anticipate the impact of the minimum support price (MSP) and its implementation.
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