Asia Rice-Prices rise in India, stable in Vietnam.

Rice export prices extended its upward trend in India on a stronger rupee, while Vietnam rates were stable amid a subtle market on low demand. India’s 5 percent broken parboiled rice prices RI-INBKN5-P1 rose by $7 per tonne to between $382 and $387 a tonne this week, as gains in the rupee forced exporters to raise prices despite sluggish demand. India, the world’s biggest rice exporter, mainly exports non-basmati rice to African countries and premier basmati rice to the Middle East. Its rice output could rise by 4.3 percent to a record high of 108.86 million tonnes in 2016/17. In Vietnam, the world’s third-largest rice exporter, market was quiet on low demand and unattractive rice prices amid worries over rainfall affecting grain quality. Abnormal rain in some harvesting areas has affected rice quality, but not too seriously. Vietnam’s rice exports are expected to plunge 23.9 percent annually to 1.19 million tonnes in the first quarter, after the grain shipments dropped 26.5 percent in 2016 due to lower output caused by climate changes. Thai benchmark 5-percent broken rice RI-THBKN5-P1 was quoted at $350-$365 a tonne free-on-board (FOB) Bangkok on previous close.

Prices of the non-basmati variety of rice were unchanged.

Government had 23.08 million tonnes rice in its stocks as of Apr 1, higher than 22.16 million tonnes a year ago. Prices of the non-basmati variety of rice, Permal Raw, were unchanged from previous close, while prices of the steam variety of basmati rice, Pusa 1121, were also unchanged in major spot markets.

Dairy body to buy 150 tonne de-oiled rice bran.

The National Cooperative Dairy Federation of India buy 150 tonne of de-oiled rice bran through a reverse electronic auction. The commodity used as cattle feed, will be bought on behalf of Indian Immunological. The national federation has nearly 200 dairy cooperatives as its members, has developed an online trading platform to purchase feed stock and sell dairy products.

Paddy arrivals low at purchase centres.

Paddy purchase at the official purchase centers in the current yasangi [rabi] may not touch the expected levels despite high yield as large quantities of fine variety grain is being transported to Karnataka to be sold at a higher price. Grade-A type arrived early from Bodhan, Varni, Kotagiri and Beerkur and Grade-B (common class) from Nandipet, Armoor, Balkonda and so on arrived at centers. At some places, it is still in a flowering stage. About 403 tonnes of Grade-B variety was transported to centers. As many as 78 purchase centers (all under PACS) as against the total of 240 were opened. The centers under MEPMA-2, IDCMS-4 and IKP-22 are yet to be launched. There is no dearth of gunny bags to pack the grain and 15 lakh bags were already distributed to PACs. Another, 35 lakhs were on hand. Indent was placed for yet another 50 lakh bags. The Government agencies mostly purchase Grade-B variety that is called IR-1010 at the MSP of Rs. 1,470 per quintal. Fine categories such as Ganga and Kaveri are unlikely to reach these official centers in large quantities. The Government allotted paddy for custom milling to 57 mills and considering another six mills for the purpose.

Over production of rice lead to sharp drop in prices in West Bengal.

Rice production in West Bengal may reach 173 lakhs million tonnes by 2017-18 from the current level of about 148 lakh MT through increased usage of high yielding varieties, improving soil drainage, spreading rice-fish culture and taking other such measures, apex industry body. This high increase in the production definitely drop in the prices.

US wheat planted area falls to record low.

U.S. wheat planted area peaked in 2008-09 at 63.2 million acres and U.S. wheat planted area has fallen 27 percent to a projected 46.1 million acres in 2017-18. It will be 16% below the 5-year average of 55.0 million acres. The increased winter wheat planted area by 360,000 acres from January 2017 estimate to 32.7 million acres. The new estimate is still 9% down from 2016-17 planted area. The increase came from hard red winter area, estimated at 23.8 million acres up 2% from the previous projection. Still, HRW planted area will be down 10 percent from 26.5 million acres (10.7 million hectares) planted for 2016-17. hard Red Winter planted area will be down 10% from 26.5 million acres planted for 2016-17. Soft red winter planted area decreased from the previous estimate to 5.53 million acres. USDA expects white wheat acres planted in both winter and spring to reach 4.12 million acres for 2017-18, down slightly from 2016-17.

USDA pegs 2016-17 global wheat output slightly up at 751.36 million tonne.

The US Department of Agriculture has marginally increased its estimate for 2016-17 global wheat output to 751.36 million tonne from 751.07 million tonne, due to higher output in Pakistan. global consumption in 2016-17 has been lowered by 0.6 million tonne to 740.8 million tonne as a million tonne decrease in the US offset the small rise in other countries. Higher production and lower usage is likely to result in a rise of 2.3 million tonne in global ending stocks, which are pegged at 252.3 million tonne. The USDA cut its projection for global exports in 2016-17 due to a decrease of 0.5 million tonne each from Australia, Canada, Kazakhstan and Russia. Total global exports in 2016-17 are expected to be at 180.68 million tonne down from 181.02 million tonne.

Govt FY18 wheat procurement so far 3.9 million tonne, up 7.4% on year.

Government has procured 3.9 million tonnes wheat so far in the current marketing year that ends in March, up 7.4% from purchases made in the same period a year ago. The procurement is highest in Madhya Pradesh, where the government has purchased 2.08 million tonne wheat so far, against 2.0 million tonnes procured. The Madhya Pradesh government is targeting purchase of 8.5 million tonnes wheat this year. against 4.0 million tonnes in the last financial year. In Uttar Pradesh, the government has bought 11,883 tonnes wheat. marginally up from 11,568 tonnes a year ago. The Uttar Pradesh government has set a target of procuring 8 million tonnes wheat this year, way above the central government’s target of 3 million tonnes. 1.5 million tonnes wheat has been procured in Haryana and 259,923 tonnes in Punjab, The Centre has set a target of 7.5 million tonnes and 11.5 million tonnes for Haryana and Punjab, respectively. the government has set the wheat procurement target for this marketing season at 33 million tonnes up from 22.9 million tonnes.

High supply weighs on wheat prices in Delhi, Indore.

Wheat prices in the benchmark Indore market in Madhya Pradesh and the key Delhi market fell due to high availability of the grain. wheat was quoted down 10 rupees, while in Delhi, it was sold at, down from 1,755 rupees on the previous close. Around 500,000 bags (1bag=100kg) of wheat were brought in Madhya Pradesh today, up from 350,000 bag. In Delhi, 15,000 bags arrived, mainly from Uttar Pradesh, higher than 13,000-14,000 bags on previous close.

Barley prices rise in Jaipur on bargain buying.

Prices of barley rose in Jaipur because of bargain buying by stockists and feed sector after prices hit a three-week low of 1,390 rupees per 100 kg,. The grain traded up 20 rupees from previous close. In the key market of Jaipur, Lower arrivals along with a rise in demand from the malt industry also supported prices. Arrivals of the new crop were pegged at 90,000 bags (1bag=85 kg), compared with 100,000 bags on previous close.