ISSN (Print) - 0012-9976 | ISSN (Online) - 2349-8846

A+| A| A-

Unexciting

Inquiries reveal that out of the 34,000 tonnes of soyabean oil that the vanas- pati industry has purchased from the State Trading Corporation between June and mid-August, hardly a few thousand tonnes have reached the factories. Because of the continuing shortage of railway tank wagons, deliveries against quantities already purchased are unlikely to be completed by the middle of October. The industry will, therefore, have to depend on high-priced groundnut oil to maintain its production at a level which will meet increased consumer demand during the festival season. Apart from making suitable arrangements for the timely supply of soyabean oil to the vanaspati industry, it must also plan for the import of further quantities of oil in order to contain the rise in edible oil prices within reasonable limits should the groundnut crop turn out to be much smaller than the 1967-68 harvest Import Quota COTTON prices have risen further by about Rs 25 to Rs 75 a candy, depending on variety, over the past week or so. The maximum increase has been in superior varieties such as C02 and L 147. The turnover is said to be fairly good for this time of the season. It is not just a case of mills buying on the hunch of a possible unfavourable turn in the weather in coming weeks. Many influences have been at work to impart strength to the market. Cloth offtake has been picking up with the approach of the festival season. State Bank has offered loan facilities to the spinning industry in the south to clear its accumulated stocks of yarn. Export performance too has; been showing some signs of improvement. Mill consumption of cotton has been steadily increasing. The monthly average for the September-May period works out to 4.42 lakh bales of indigenous cotton and 0.67 lakh bales of foreign cotton as against 4.31 lakh bales and 0.45 lakh bales, respectively, for the corresponding period last season. The June and July figures of yarn output point to a still higher level of consumption.

Dear Reader,

To continue reading, become a subscriber.

Explore our attractive subscription offers.

Click here

Back to Top