Govt has imposed a 10% customs duty on import of wheat with immediate effect to restrict fall in their prices following a bumper crop in the country this year. Govt had scrapped the 10% import duty on wheat as supply in wholesale markets had dried up and prices had hit a record high. In the benchmark Indore market, wheat was sold lower than the MSP. After the removal of the duty in December, imports of wheat rise to a record 5 million tonnes in the current financial year.
Amendment Notification to Govt imposes 10% import duty on wheat.
Amendment to Notification No.12/2012-Customs, dated the 17th March 2012, so as to impose basic customs duty of 10% on wheat with immediate effect.
NCDEX coriander up for 3rd week as exports seen strong.
NCDEX coriander up for 3rd week as exports seen strong.
Barley prices down in Jaipur as arrivals increased.
Barley prices down in Jaipur as arrivals increased.
Solvent Extractors Association of India ask to paddy, wheat farmers of Punjab, Haryana to grow mustard.
Solvent Extractors Association of India ask to paddy, wheat farmers of Punjab, Haryana to grow mustard.
Russian wheat prices fall on weaker demand from Egypt, Turkey.
Russian wheat prices fall on weaker demand from Egypt, Turkey.
Wheat procurement gathers motion and govt buys 389,792 tonnes.
Wheat procurement gathers motion and govt buys 389,792 tonnes.
Wheat arrivals in Punjab, Haryana likely in 10 days.
Wheat arrivals in Punjab, Haryana likely in 10 days.
NCDEX coriander up for 3rd week as exports seen strong.
Futures contracts of coriander on the NCDEX rise for the straight third week due to expectations of strong export demand. The most active April contract of coriander on the NCDEX, up 0.2%. Arrivals of coriander in Kota were unchanged at 45,000 bags (1bag=40 kg).
Barley prices down in Jaipur as arrivals increased.
Prices of barley fell in Jaipur because arrivals of the grain increased due to low demand from stockists and the feed sector. Arrivals of the new crop were estimated at 150,000 bags (1bag=85kg) compared with 50,000 bags. The most-active April contract of barley on the NCDEX was down 1.16%. Supplies of barley have increased because arrivals of the new crop have gained pace. Limited purchases from malt industries also weighed on prices.
Solvent Extractors Association of India ask to paddy, wheat farmers of Punjab, Haryana to grow mustard.
Solvent Extractors Association will ask paddy and wheat growers in Punjab and Haryana to partly switch to mustard so as to meet the aim of 10 million tonne mustard output by 2020. A shift to mustard will also check a sharp fall in underground water table level in the two states as the oilseed crop needs comparatively less water for growth. Use of genetically modified mustard crop would also help in meeting the objective of 10 million tonne mustard production. Higher mustard production in domestic markets will reduce burden on imports of edible oils. The country meets 70% of its domestic demand through imports of edible oils and Mustard crop accounts for around 20% of the total oilseed basket.
Russian wheat prices fall on weaker demand from Egypt, Turkey.
Russian wheat export prices fell due to lower demand from Egypt and Turkey. Turkey put purchases of wheat, maize and sunflower from Russia on hold from mid-March. Russia exported 26.9 million tonnes of grain between July1 and March22, down 1.8% from a year earlier including 20.6 million tonnes of wheat. Domestic prices for third-class wheat, excluding delivery, fell in the European part of Russia. (Source: Reuters)
Wheat procurement gathers motion and govt buys 389,792 tonnes.
FCI has procured 389,792 tonnes higher than around 376,000 tonne procured a year ago. Around 389,000 tonne, almost all of the procured grain has come from Madhya Pradesh. Farmers in Madhya Pradesh are choosing to sell their crop to government agencies as market prices have now fallen below the MSP of offered by the Centre. In Gujarat, about 480 tonnes of wheat has been procured so far, while in Rajasthan is at 312 tonne.
Wheat arrivals in Punjab, Haryana likely in 10 days.
Fresh arrivals of wheat in the key producing states of northwest India-Punjab, Haryana and Uttar Pradesh are likely to start in the next 10-15 days. In these states, wheat harvesting was in the initial phase, and the new crop was expected to arrive by mid-April. Punjab, Haryana and Uttar Pradesh account for more than two third of India overall wheat production.
NCDEX coriander hits 7-week high as output seen down.
NCDEX coriander hits 7-week high as output seen down.
Lower supplies lift barley to 1-week high in Jaipur.
Lower supplies lift barley to 1-week high in Jaipur.
Emami Agritech sees FY18 rice bran oil output rising 20%.
Emami Agritech sees FY18 rice bran oil output rising 20%.
Prices of rice basmati and non-basmati firmed up.
Prices of rice basmati and non-basmati firmed up.
Russia Sends Wheat to Syria as Aid.
Russia Sends Wheat to Syria as Aid.
Wheat should be purchased at society level in place of silo in Indore.
Wheat should be purchased at society level in place of silo in Indore.