Govt takes away restrictions on export of pulses

The govt on Thursday removed the restrictions on export of all varieties of pulses such as tur, urad and moong dal etc to help farmers get remunerative prices for their produce.  However, exports of these kinds of pulses can be undertaken after taking permission from agri-export promotion body APEDA.     

Presently, only the organic pulses and Kabuli chana are permitted to be shipped in a limited quantity.   The Directorate General of Foreign Trade (DGFT) in its notification said, that it has removed prohibition on export of tur, urad and mung dal until further orders. The ban on these varieties has been lifted with immediate effect. The notification added that exports should be made through customs electronic data interchange.

The move will improve the returns to farmers and potentially open up greater investments in the sector. The country's pulses production has touched a record of 22.4 mln ton in 2016-17 crop year as against 16.35 mln ton in the previous year through encouragement from the government.

Sensex, Nifty tepid as Fed rate decision eyed

Benchmark indices continued to be indifferent in the afternoon trade as investors awaited Federal Reserve rate decision due tonight. The S&P BSE Sensex, was down 44.52 points or 0.15% at 29,398.11, while the Nifty 50 index was down 2.20 points at 9,084.80, on closing. The BSE Mid-Cap index rose 1.06% and the BSE Small-Cap index rose 0.66%. Both the index outperformed the Sensex. The market breadth, signaling the overall health, was positive. About 1,411 shares advanced against 1,398 declining shares on the BSE. A total of 188 shares were unchanged.
IT stocks were the main laggards today on surging rupee. BSE IT was down 1.8% dragged by TCS and Infosys going down 2% each and making them the big losers on BSE Sensex.
US stocks crossed lower yesterday, 14 March 2017, as a continual slump in oil prices that put pressure on energy shares and as investors await the outcome of the two-day Federal Reserve's policy meeting later today. The probable increase in interest rate would be the first of likely three this year.

Soybean price and Soy oil prices declined

Soybean prices future declined on weak demand 

In NCDEX, Soybean March futures yesterday opened on flat note and it traded down for most part of the day. The prices continued to decline yesterday due to fall in demand for soybean amid record low soy meal exports and lower crush margin. For today we continue to be on bearish side due to weaker demand scenario of soybean in the domestic markets. Decline in soy meal exports and lower crush margin is expected to weigh on the prices. 

Soy oil prices declined on higher supply 

Refined Soy oil March futures at NCDEX platform yesterday opened on a negative note and it traded down throughout the day. The prices closed down yesterday tracking negativity from domestic soybean prices and also overseas market. The Ref. Soy oil future prices may continue trading on a weaker note, today. Higher supplies of imported soy oil in the domestic market are expected to rise which may pressurize the prices.