Mustard research council may set up export panel

Mustard Research and Promotion Consortium (MRPC) has shown interest in setting up an export promotion council for mustard in Rajasthan.

Addressing a press conference on the current scenario of rapeseed-mustard, H B Singh, executive secretary, MRPC, said, "MRPC is keen to open export promotion council with support from Rajasthan government on the pattern of public private partnership for promotion of mustard and its allied products in the state."

MRPC is a pioneering organisation in the field of mustard-based research and aims at creating widespread awareness about the virtues of mustard.

Over 200 scientists, oil technologists, mustard processors, and farmer representatives, policy makers, and trade professionals from all over India are participating in the one-day conference, which has been organised by MRPC.

Singh also called for setting up a chain of mustard farmers' service centres in Rajasthan to provide extension services and developing marketing links between farmers and processors.

Vietnam coffee output to rise by 9.6%

Vietnam, the world's second-largest exporter of coffee and rice, will harvest 9.6 per cent more coffee this year while its rice output will also rise 1.1 per cent from last year, the government said on Monday.

The General Statistics Office said coffee output from the world's top robusta producer would total 824,400 tonne, or 13.74 million bags, during this calendar year ending in December.

The office said the coffee area this year would drop 1.7 per cent from last year to 488,800 hectares (1.21 million acres).

Indonesian crude palm oil prices up

Indonesian crude palm oil prices were marginally higher on Monday, supported by some demand in the Muslim fasting month of Ramadan and gains in Malaysian crude palm oil futures.

At the state marketing centre in Jakarta, crude palm oil was traded at 4,180 rupiah ($0.455) per kg, compared with 4,178 last Thursday, with some 2,250 tonne changing hands.

The centre did not hold any auction on Friday. "The (price) trend is up on rising demands for cooking oil during the Ramadan and Eid al-Fitr," a Jakarta-based trader said.

Mittal Steel to raise prices up to 75%

Mittal Steel SA, a nit of the world's biggest steel group Arcelor Mittal, will increase prices on some of its products by up to 7.5 per cent, the company said on Monday.

"We have since August attempted to keep the lid on any price increases but international price trends has required us to increase the price on selected products," Mittal SA Chief Executive Officer Rick Reato said in a statement. The increases will take effect on November 1.

The price of flat steel products, including plate, hot rolled coil and cold rolled coil, will increase by five per cent while in the long steel products category structural steel, window sections and fencing material prices will increase.

Tokyo rubber futures up owing to rains

Tokyo rubber futures rose on Monday as heavy rains in Thailand and Malaysia spurred speculative buying.

Speculators were also eying solid gains in gold and oil, Japanese dealers said. "It looks like rain in Thailand has affected production with lower supply coming out. TOCOM's downside seems to be quite supported from the Thai side," said one dealer in Tokyo.

The benchmark March 2007 contract on the Tokyo Commodity Exchange rose 3.6 per cent to settle at 224.0 yen ($1.90) per kg, up from Friday's 216.2 yen after trading between 218.1 and 225.1 yen.

Japanese dealers said they expected the market to move higher in the coming days with the next support seen at 216 yen per kg and resistance at 226 yen per kg. "It may try to break 226 yen, if it can break that level, the next resistance level is 240 yen," another Japanese dealer said.

Rain has been seen in all regions in Thailand and dealers said it could further hit supply in coming days.

Malaysian palm oil futures down

Malaysian crude palm oil futures closed marginally down on Monday, ending a four-day rally as crude oil gave up gains and export data disappointed the market.

Exports of Malaysian palm oil products for September stood at 1,294,859 tonne, down 3.3 per cent from the 1,339,032 shipped in August, cargo surveyor Intertek Testing Services said at the weekend.

Another cargo surveyor, Societe Generale de Surveillance, whose export numbers are closely watched by the industry, said exports in September fell 4.4 per cent from August.