SLIPPERY WHEN WET

Article Abstract:

In the last one month, the prices of edible oil remained volatile due to unsatisfactory rains in oilseeds producing states, the cyclone in Gujarat and strike called by clearing and forwarding agents in Mumbai. Groundnut oil prices, which ruled at Rs423 per 10 kg on May 28, 1998, moved up to Rs487 on June 26. Palmolein prices also rose from Rs372 on May 27 to Rs410 on June 18 and later declined to Rs375 on June 26. After 10 days of the announcement of the 1998-99 budget, groundnut oil prices increased to Rs462 per 10 kg from Rs434, rapeseed oil prices rose from Rs390 to Rs402 per 10 kg, soya oil from Rs386 to Rs393 and palm oil from Rs376 to Rs382. The prices are expected to remain volatile till the next monsoon sets in. (gsh)

Comment:

India: Lack of rains in oilseeds producing states & cyclone in Gujarat destabilizes prices of edible oil

Starch and Vegetable Fats and Oils Manufacturing, Food Fats & Oils, Article

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TAMIL NADU SUGAR MILLS TRY TO CARTELISE PRICES

Article Abstract:

Private sugar mills have come together and formed a sort of cartel in a bid to sustain prices at reasonable levels in a surplus market. Sources say that they have been meeting every fortnight to decide the minimum selling price for each zone. They have divided the state into 5-6 zones, with each zone having 2-3 sugar mills. In their latest meeting, the sugar mills decided to reduce prices by Rs10 to Rs1290-1320 per quintal. The co- operative mills have been selling sugar at prices which are Rs5- 10 less than that of the private mills. (khr)

Raw cane sugar, Sugarcane Mills, Raw Cane Sugar & Byproducts, Raw sugar

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