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Global Cotton stocks, outside of China, are expected to lift to a record 53 million bales for in 2017-18. This is up from 41
million bales last season, according to a recent US Department of Agriculture report. The USDA report is also tipping a 15 per
cent expansion in Cotton production, which is outpacing rising global Cotton use. The USDA said 2017-18 Cotton production
in the US was forecast to decline by 643,000 bales from last year, but globally the drop would be offset by production
increases in Argentina, Brazil and Greece. The USDA said major exporters in Central Asia, Africa, the US and the southern
hemisphere would all bear the brunt of the burden of high stocks. US exports are forecast to decline by 400,000 bales, more
than offset by higher exports from India, Brazil and Australia, the USDA report said. The USDA is forecasting Australia to
increase exports this season due to estimates of a large crop and robust early season shipments
The Consumer Affairs Ministry-led Price Stabilization Fund Management Committee (PSFMC) has decided to import Onion
through a government agency to augment their availability in the market to moderate prices. The committee also decided that
the National Agricultural Cooperative Marketing Federation (NAFED) and the Small Farmers' Agribusiness Consortium
(SFAC) would procure 10,000 tonnes and 2,000 tonnes of onions, respectively, from the producing areas including Delhi, said
a statement .They will supply the Onions to the consuming areas to enhance its availability and to help moderate prices, the
statement said. For more than a month, onion prices have been on the rise due to tight supplies. At present, retail prices of
Onions are in the range of Rs 65-70 per kg in the national capital and other cities.
Malaysia's end-stocks of Palm Oil in October rose 8.4% to 2.19 million tonnes, the highest level since January 2016, according
to data from industry regulator the Malaysian Palm Oil Board (MPOB).The data also showed a jump in production for the first
time in three months, as output rose 12.9%. October production rose to a fraction above 2 million tonnes, breaching the 2
million tonne mark for the first time in two years, on seasonal gains and on a higher number of working days.Demand growth
came in below production gains, contributing to October's rise in stockpiles. The MPOB data showed a 2% rise in exports to
1.55 million tonnes, their strongest level in over a year.
India Q3 Gold jewellery demand tumbles after three consecutive quarters of growth
World food prices declined marginally in October from the month before, as valuations dropped for all food commodities
apart from Cereals, the United Nations food agency said .The Food and Agriculture Organization's (FAO) food price index,
which measures monthly changes for a basket of cereals, oilseeds, dairy products, meat and sugar, averaged 176.4 points in
October, down 1.3 per cent from September. Food prices on international markets were 2.5 per cent higher than their values
last October, but 27 percent below the all-time high hit in February 2011.Cereals markets are likely to be balanced in 2017-18,
FAO said, forecasting global production would surpass last year's record harvest by a small margin, with total production of
coarse grains set to reach a new record. Wheat production, however, is due to decline slightly from last year, mainly due to a
smaller harvest in the United States and an expected fall in Australia's crop. Global Rice output is expected to remain broadly
stable in 2017, FAO said.
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