Flash floods in the greater Sylhet region have taken its toll on farmers and created a shortage of paddy for small to medium-sized rice mills. The Haor areas in northern Sylhet account for nearly 10% of the total cultivation area of about 4.8 million hectares this year and the flooding has adversely affected about 140,000 hectares. The mills usually stock up near the end of the season, which is not happening this season due to unexpected floods and only the big millers are well stocked with paddy. It all boils down to is a rise in retail prices of coarse rise in Dhaka by nearly 6.5% over a week and there is upward price rise of such rice in other parts of the country.
Barley exports from Russia down 42%.
Barley exports from Russia down 42%.
Barley prices in Jaipur at 3-week low on muted demand.
Prices of barley in Jaipur hit a three-week low due to muted demand from the feed sector and Stuckists, as well as higher arrivals of the new crop. The grain was sold at down 10 rupees from previous close. Arrivals of the new crop were estimated at 100,000 bags (1bag=85kg), compared with 90,000 bags on previous close. Limited purchases from malt industries also weighed on barley prices.
Indian coriander prices start decline on low export demand.
Indian coriander prices start decline on low export demand.
Barley exports from Russia down 42%.
In February 2017, Russian barley exports turned down again. So, 103.8 KMT of barley was exported from Russia that month, or down almost 30% from the previous month and two and a half times less than exported in February 2016. In the first eight months of the current season, Russian barley exports were down 42% year-on-year at less than 2.1 MMT against 3.6 MMT in July-February 2015/16. Drops are reported in Russian deliveries to almost all of their destinations. This season, the country only increased exports to Lebanon, Morocco and Syria. At the same time, Russia remains the top supplier of barley to Lebanon. Russian exporters have doubled barley shipments to this market in 2016/17 which have already shipped roughly 128 KMT against 62 KMT for the whole 2015/16 marketing year.
Coriander prices rise in Kota as arrivals half.
Coriander prices rise in Kota as arrivals half.
Indian coriander prices start decline on low export demand.
Indian coriander prices start decline on low export demand, currently Indian coriander offered at USD1200 per MT, facing stiff resistance from Russian & Romania coriander which was traded at USD 500 per tonne. This make lower export down by 21% YOY. Moreover, domestic arrival preasure also weigh on prices. Domestic prices at a level of Rs.6000-6300 per 100 kg would bring India back to export market.
Coriander prices rise in Kota as arrivals half.
Prices of coriander in Kota were up because arrivals declined. Arrivals in Kota halved to 5,000 bags (1bag=40kg).
Customs restricts exit of rice from free trade zones Abuja (Nigeria).
Customs restricts exit of rice from free trade zones Abuja (Nigeria).
Rice prices rise on flash floods in Sylhet (Bangladesh).
Rice prices edged up as large millers are cashing in on crop losses, caused by the recent flash floods in the greater Sylhet region, amid depleting stocks from previous harvests and low imports. In Dhaka, retail prices of coarse rice such as the swarna variety ise to a new level of Tk 40-42/kg, up 6.49% from Tk 37-40 a week ago. Prices of the medium and fine categories of the staple also went up between 1.96 percent and 4.65 percent in the last one week. The flood has affected 1.40 lakh hectares of paddy in the fields. Speculation over delayed harvest for the bad weather is another reason for the recent price spiral as farmers, small and medium millers and wholesalers do not have paddy stocks. Govt can reduce the import duty on rice to encourage imports and increase the supply in the market. Rice imports by private traders slumped 65 percent to 76,600 tonnes in July-March of the current fiscal year from the same time last year, after the government hiked the duty from 20% to 28% to ensure that growers get fair prices for their produce.
Indian private traders import 44 lakh tonnes wheat in Apr-Feb FY17.
Indian private traders import 44 lakh tonnes wheat in Apr-Feb FY17.
Barley down in Jaipur as new crop arrival gains pace.
Barley down in Jaipur as new crop arrival gains pace.
Customs restricts exit of rice from free trade zones Abuja (Nigeria).
According to Nigeria Customs Service, it has restricted the exit of rice from Free Trade Zone in the country to ensure total compliance to the ban on the importation of rice. Due to the high level of security along the border lines, some Nigerians were taking advantage of the status of the Free Trade Zone to smuggle rice into the country.
Indian private traders import 44 lakh tonnes wheat in Apr-Feb FY17.
Private traders have imported 44.10 lakh tonnes of wheat from April 2016 to February 2017, said govt. Govt had wheat stock of 94.29 lakh tonnes at the beginning of March as against the buffer norm of 64.60 lakh tonnes as on April 1. The wheat stock is likely to improve in the coming months when Rabi crop arrives in markets.
Barley down in Jaipur as new crop arrival gains pace.
Prices of barley fell in Jaipur due to higher arrivals and a lacklustre demand from stockists and feed sector. New crop arrivals of barley were estimated at 90,000 bags (1 bag = 85 kg) compared with 75,000 bags previous close. The most-active May contract of mustard seed on the NCDEX was down 0.8%.
NCDEX coriander at 3% lower limit as supply seen up.
NCDEX coriander at 3% lower limit as supply seen up.
Govt procures 5,243 tonne wheat in Uttar Pradesh, up three-fold on year.
Govt procures 5,243 tonne wheat in Uttar Pradesh, up three-fold on year.
NCDEX coriander at 3% lower limit as supply seen up.
Futures contracts of coriander hit the 3% lower circuit on the NCDEX because arrivals in Rajasthan markets are seen increasing. Arrivals are seen rising as harvesting of the new crop is in progress in Rajasthan and Gujarat. Weak demand from the local consumers also led to decline in coriander prices. On the NCDEX, the most active May contract was down 3%. Arrivals in Baran were pegged at 60,000 bags (1bag=40kg), up 18,000 bags from previous close.
Spot wheat down as supplies rise in Madhya Pradesh.
Spot wheat down as supplies rise in Madhya Pradesh.
Govt procures 5,243 tonne wheat in Uttar Pradesh, up three-fold on year.
Government has procured 5,243 tonne of wheat in Uttar Pradesh in the current marketing year so far, nearly three times the year-ago procurement of 1,759 tonne. State government has set a target of procuring 8 million tonne wheat, way above the central govt target of 3 million tonne for Uttar Pradesh. To enable efficient procurement and eliminate the role of middlemen, the new govt in Uttar Pradesh has made Aadhar cards compulsory for farmers coming to sell their crops. The government has also offered an incentive of 10 rupees per 100 kg for loading and transportation of the crop. Overall, 2.4 million tonne of wheat has been procured in the country so far, slightly lower than 2.6 million tonne a year ago. Procurement is highest in Madhya Pradesh where the govt has bought 1.8 million tonne wheat so far. In Punjab, the government has bought 37,505 tonne, and in Haryana, it has purchased 534,279 tonne of wheat.