Arrivals of cotton in major spot markets across the country were pegged at 82,800 bales (1bale=170kg) down from 93,800 bales.
Iraq says to import wheat and rice through direct contracts.
Iraq Trade Ministry negotiating direct contracts for the import of rice and wheat after multiple failures to secure them through international tenders. Iraq has been struggling to import the grains for its food subsidy programmed after introducing new payment and quality terms that kept traders away from its international tenders. The Central Committee, after a failure of several tenders because of the new mechanisms for contracts, has begun to negotiate with large international companies to contract wheat.
Over 37 lakh tonne wheat arrives in Haryana.
More than 37.15 lakh tonne wheat has arrived so far in the mandis of Haryana. Of the total arrival, the 5 government procuring agencies have purchased 37.12 lakh tonne and traders have purchased 3,000 tonnes of wheat at MSP. More than 9.36 lakh tonne wheat has been procured by Food, Civil Supplies and Consumer Affairs Department, where as Haryana State Co-operative Supply and Marketing Federation Ltd (HAFED) has purchased more than 12.54 lakh tonne wheat. FCI has purchased more than 4.25 LT wheat, Haryana Agro Industries Corporation have purchased more than 3.09 LT and more than 7.85 LT wheat has been procured by Haryana Warehousing Corporation. District Kaithal leading in wheat arrival where more than 4.71 lakh tonne of the crop had been procured followed by district Karnal, which recorded more than 4.61 lakh tonne.
Govt buys prevent fall in wheat prices.
Wholesale prices of wheat were unchanged in Indore, Madhya Pradesh, primarily due to the govt procurement of the grain from farmers to check a fall in prices and build up stocks. Government is procuring wheat from farmers in the state at a MSP and has procured 2.1 million tonne of wheat in the state. Around 30,000 bags (1bag=100kg) of wheat arrived in the market almost unchanged from the previous day. Around 20,000 bags of wheat arrived in Delhi, mainly from Uttar Pradesh, higher than 15,000 bags.
Govt FY18 wheat opening stocks 8.06 million tonne, down 44.6%.
Government held 8.06 million wheat in its stocks at the beginning of the current marketing year, sharply lower than 14.54 million tonne last year. Govt stocks are lower this year due to poor output in the last two years, and high sales through the govt open market auctions to manage supply in wholesale markets. Stocks are likely to be replenished that the government has already started wheat procurement for the current marketing year and aims to purchase 33 million tonne against 22.9 million tonne bought last year. Govt has procured 3.9 million tonne wheat from farmers across the country, up 7.4% from a year ago.
Govt buys prevent fall in maize prices.
Prices of maize fell in Purnea, Bihar, as arrivals of the new crop picked up pace. The commodity was sold at in Purnea, down 50 rupees from the previous day. About 500 trucks (1truck=100kg) of maize arrived at the market up from 300 trucks on previous close. June contract of rabi maize ended slightly higher today due to a rise in demand for the new crop from the feed industry. The contract ended up 0.3%.
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.
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.
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.
NCDEX barley down tracking rise in warehouse stocks.
Futures contracts of barley on the NCDEX were down due to an increase in stocks of the commodity at exchange warehouse the most active May contract of barley on the NCDEX traded down 0.4% from previous close. Barley stocks at exchange warehouses were at 6,165 tonnes, compared with 5,058 tonnes the previous close.
Jaipur barley prices up on low supply, high demand.
Prices of barley rose in Jaipur for the second consecutive day because of lower arrivals and rising demand from Stuckists, feed sector and the malt industry. The grain was quoted up 10 rupees from previous close in the key market of Jaipur. Arrivals of the new crop of barley were pegged at 70,000 bags (1bag=85kg), compared with 90,000 bags on previous close. Supplies are lower because farmers are holding their produce as they expect prices to rise in the coming days.
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.
Over production of rice lead to sharp drop in prices in West Bengal.
Over production of rice lead to sharp drop in prices in West Bengal.
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.
Paddy harvest in Assam expected to be 75 lakh metric tonnes in 2017
Paddy harvest in Assam expected to be 75 lakh metric tonnes in 2017
Paddy harvest in Assam expected to be 75 lakh metric tonnes in 2017
In 2016, assam produced 52 lakh metric ton of rice and this year expectation is to have paddy harvest of around 75 lakh metric ton as production curve is on the upward trend, despite the attack of swarming caterpillars in the initial stage.
US wheat planted area falls to record low.
US wheat planted area falls to record low.
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.
Flour millers demand rebate on wheat export in Pakistan.
Flour millers demand rebate on wheat export in Pakistan.
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.