India drags feet on GM mustard permit amid powerful opposition

India has frozen requests to commercially release a locally developed genetically modified mustard, an environment ministry document released on Tuesday showed, amid stiff opposition to lab-altered food from domestic activists and politicians.

The mustard variety would have been the first transgenic food crop to be allowed for commercial cultivation. But the environment ministry's Genetic Engineering Appraisal Committee (GEAC) has deferred approval despite a panel the ministry supervises giving the genetically modified (GM) mustard technical clearance last year.

"Subsequent to receipt of various representations from different stakeholders, matters related to environmental release of transgenic mustard are kept pending for further review," the GEAC said in minutes of a meeting released on the environment ministry's website marked "confidential and restricted circulation".

Cotton is the only GM crop currently allowed to be sold in the world's second most populous country where arable land is shrinking. U.S. company Monsanto Co dominates the cotton seed market in India, and often faces resistance from local companies over its position.

BUY GOLD ABOVE 29520 TGT 29580-29660-29780 SL BELOW 29440 CMP 29513

BUY LEAD ABOVE 161.80 TGT 162.30-163-164 SL BELOW 161 CMP 161.80

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India's wheat planting likely to surpass last year's planting

India's wheat planting is expected to surpass last year's 31 million hectares on the back of better water availability and soil moisture.

According to officials, wheat planting has begun in irrigated parts of Madhya Pradesh and Gujarat and will pick up in other regions, including Punjab and Haryana, in the coming days.

India, the world's second-largest producer of wheat, recorded a bumper crop of 98.38 million tonnes last year. For 2017-18, the government has set a target of 97.50 million tonnes.

Last season, wheat planting topped the previous year's 31.55 million hectares by 8%. Higher acreage supported by good prices would increase farmers' income and lower the country's dependence on imports.

According to trade figures, the country has already imported 1 million tonnes of the commodity this year. As on October 1, the government's wheat stock stood at about 25.3 million tonnes.

एग्री कमोडिटी की बात करें तो एनसीडीईएक्स पर सरसों का नवंबर वायदा 0.75 फीसदी की उछाल के साथ 3930 रुपये पर कारोबार कर रहा है। धनिया का नवंबर वायदा 0.8 फीसदी की मजबूती के साथ 5050 रुपये पर कारोबार कर रहा है।

BUY SILVER  ABOVE 39700 TGT 39900 SL BELOW 39450

SELL LEAD BELOW 161 TGT 160.30 SL ABOVE 162
 
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Latest trends & updates from the commodities market

एमसीएक्स पर आज से गोल्ड ऑप्शंस शुरु होने जा रहा है। दिल्ली में वित्त मंत्री अरुण जेटली ने इसे लॉन्च किया। सेबी की इजाजत के बाद से गोल्ड ऑप्शंस को लेकर तैयारियां चल रही हैं। लंबे समय तक मॉक ट्रेडिंग भी हुई। अंतत: आज धनतेरस के मौके पर एक्सचेंज गोल्ड ऑप्शंस शुरू करने जा रहा है। इसमें एमसीएक्स के गोल्ड वायदा में ही ऑप्शंस ट्रेडिंग होगी।

इस बीच ग्लोबल मार्केट में सोने में बेहद छोटे दायरे में कारोबार हो रहा है। कल 1300 डॉलर का स्तर छूने के बाद इसमें दबाव दिखा है और फिलहाल ये 1295 डॉलर के नीचे कारोबार कर रहा है। चांदी में हालांकि तेजी जारी है और इसका दाम 17 डॉलर के ऊपर है। एमसीएक्स पर सोना 0.3 फीसदी की कमजोरी के साथ 29760 रुपये के आससास नजर आ रहा है। वहीं, चांदी 0.5 फीसदी की कमजोरी के साथ 40150 रुपये के आसपास करोबार कर रहा है।

एग्री कमोडिटीज में एनसीडीईएक्स पर चने का नवंबर वायदा 0.02 फीसदी की मामूली गिरावट के साथ 5236 रुपये के आसपास कारोबार कर रहा है। वहीं, धनिया का नवंबर वायदा 1.1 फीसदी की बढ़त के साथ 4940 रुपये के आसपास दिख रहा है।

BUY CHANA NOV.ABOVE 5226 TGS 5236-5245-5255 SL 5190

BUY SOYBEAN NOV.ABOVE 2920 TGS 2930-2938-2945 SL 2900 

 

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Palm oil demand strong as top buyers China, India restock inventories

Palm oil demand is expected to remain robust for the rest of the month as key consumer countries India and China rebuild low stock levels, bucking a seasonal trend in which shipments of the tropical oil typically taper off at year-end.

A narrow discount to a rival edible oil, however, could limit demand growth moving forward, say traders and analysts, since buyers usually switch to more favoured soyoil when its price premium over palm narrows.

The price differential or the spread between palm oil on the Bursa Malaysia Derivatives Exchange and Chicago Board of Trade soyoil has been hovering between $80 and $90 a tonne, soyoil's narrowest premium over palm since February.

"For October we're looking at a 10 to 13 percent gain in exports, mainly from China and India, though India demand may slow compared to the previous month," said David Ng, a derivatives specialist at Phillip Futures in Kuala Lumpur.

India and China are the world's top two buyers of palm oil, and command a substantial share of global demand. Palm oil import demand from China and India, which celebrate the Mid-Autumn and Diwali festivals respectively this month, had already gained in September as buyers stocked up ahead of the events.

SELL COPPER  BELOW 457 TGT 455 SL ABOVE 460.10
 
SELL GOLD BELOW 29920 TGT 29850 SL ABOVE 30020

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Gold prices rose 0.49 per cent to Rs 29,853 per 10 grams in futures trade today as participants created fresh positions, tracking a firm trend overseas. At the Multi Commodity Exchange, gold for delivery in December rose by Rs 146, or 0.49 per cent, to Rs 29,853 per 10 grams, in a business turnover of 360 lots. The yellow metal for delivery in February moved up by a similar margin to trade at Rs 29,950 per 10 grams in 2 lots. Analysts said traders built up fresh positions in line with a firm global trend, which supported the upside in gold prices at futures trade here. Globally, gold rose 0.26 per cent to USD 1,294.40 an ounce in Singapore.

 

Tracking a firm trend overseas, silver prices surged by Rs 208 to Rs 40,337 per kg in futures trade today as traders built up fresh positions. At the Multi Commodity Exchange, silver for delivery in December spurted by Rs 208, or 0.52 per cent, to Rs 40,337 per kg, in a business turnover of 390 lots. Similarly, the white metal for delivery in March next year was trading higher by Rs 187, or 0.46 per cent, to Rs 40,886 per kg in 5 lots.

SELL ZINC BELOW 212.60 TGT 212 SL ABOVE 213.50

SELL CRUDE OIL BELOW 3320 TGT 3290 SL ABOVE 3356

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Base metal and Agri commodity fall down

उधर बेस मेटल में आज दबाव दिख रहा है। कॉपर 1 महीने के ऊपरी स्तर से दबाव में आ गया है। बाकी मेटल में भी कमजोरी है। हालांकि चीन में एल्युमिनियम और जिंक को छोड़कर सभी मेटल तेज हैं। एमसीएक्स पर कॉपर 0.1 फीसदी टूटकर 445 रुपये के नीचे आ गया है जबकि निकेल 0.5 फीसदी टूटकर 715 रुपये के आसपास कारोबार कर रहा है।

SELL ZINC BELOW 214.80 TGT 214 SL ABOVE 215.80

SELL COPPER BELOW 442 TGT 440 SL ABOVE 445

एग्री की बात करें तो दिवाली से पहले चना 2 महीने के निचले स्तर पर आ गया है। इसमे 2 फीसदी की भारी गिरावट आई है। आमतौर पर इस समय तेजी का रुख होता है। दरअसल दूसरी दालें जमीन पर हैं। अरहर, मूंग और उड़द की कीमतें एमएसपी से 27 से 35 फीसदी तक नीचे आ गई हैं। गौर करने वाली बात ये है कि खरीफ दालों का एक्सपोर्ट खुलने और इंपोर्ट पर पाबंदी के बावजूद दाल की कीमतों को कोई सपोर्ट नहीं है। इंदौर में अरहर 4000 रुपये के नीचे बिक रही है। जबकि मूंग का दाम 4000 और उड़द 3700 रुपये क्विंटल है।

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MCX Commodity Future Calls

BUY LEAD ABOVE 163.10 TGT 164 SL BELOW 162

SELL ZINC BELOW 214 TGT 213 SL ABOVE 216.20

SELL COPPER BELOW 440.30 TGT 438 SL ABOVE 443.50

BUY SILVER  ABOVE 39150 TGT 39350 SL BELOW 38900

              MCX FUTURE TIPS

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