India has received 5% more rainfall than the normal limit until now even as northwest India, the southern peninsula and Central India have received below normal rainfall – as per IMD.
· Most Agri markets traded with a softened mood in general. With respect to the weather updates, US researchers reported that the El Nino weather pattern is likely to be strong towards second half of this year. This would result in rains across North & South America but can cause drought like conditions in Asia.
· Indonesia has decided to impose 50 dollars/ton export duty on CPO and a 30 dollars/ton export duty on processed palm oil products. This will be effective from June 15 2015. Brazil has revised the soy crop to 960 lakh ton, above the recent USDA's estimate of a 945 Lakh ton crop. Except Mentha, most major commodities traded with a negative bias on Friday.