The central government has procured 36.0 million tonne rice so far in the 2016-17 (Oct-Sep) marketing year, up 24% on year. The Centre is buying rice from farmers at MSP of 1,470 rupees per 100 kg. Procurement has been the highest in Punjab, where the government has purchased 11.1 million tonne of the food grain, up 18.2% on year. In Chhattisgarh, 4.7 million tonne rice procured so far, up 35.4% on year, and in Haryana government bought 3.6 million tonne rice, up 25.2% from a year ago. About 141,302 tonne rice has been procured in Tamil Nadu so far, down 86.2% from a year ago. Procurement has been higher year-on-year in most states as India rice output in 2016-17 (Jul-Jun) is estimated at a record high of 109.15 million tonne.
Govt rice stock rise on May 1.
The government had 22.8 million tonne rice in its stocks as of May 1, up from 21.3 million tonne a year ago, due to a higher procurement of rice. So far, 36.0 million tonne rice has been procured for the 2016-17 (Oct-Sep) marketing year, up 24% on year.
Govt food grain stock low on May 1.
Govt May 1 food grain stock 50.5 million tonne vs 52.8 million tonne year ago.
India maize unchanged in spot markets.
Maize prices remained unchanged in Bihar Purnea market but traders fear that prices of new crop may fall in coming days as the state has been lashed by rains and hailstorm. The situation is bad, rains may deteriorate the quality of crop lying in fields.it only support the prices of stocked maize which is very few in quantity. India Meteorological Department forecast, squall and thunderstorm are likely to continue in Bihar on Thursday. Amid fears of crop damage, future contracts of maize gained on the NCDEX and June contract ended up 0.2% from previous close.
NCDEX wheat ends up as supplies fall; spot prices down.
Wheat futures on NCDEX traded higher for the sixth consecutive session due to declining arrivals in spot markets. June contract on the NCDEX ended up 0.8% from previous close. wheat prices were down in major wholesale markets due to subdued buying by bulk buyers and stockists. Mill quality wheat sold in Delhi, down 10 rupees and in Indore, down 20-30 rupees from previous clsoe. In Kota market prices remained unchanged.
Govt May 1 wheat stock down 11.8% on year at 27.7 million tonne.
The government had 27.7 million tonne wheat in its stocks at the beginning of this month, down 11.8% from 31.4 million tonne a year ago. The stocks are down despite a bumper crop this year as lower output in last two years had taken the government stocks to a multi-year low of 9.4 million tonne in March. The procurement target is higher as India’s wheat production in 2016-17 (Jul-Jun) is seen at 97.4 million tonne, up from 92.3 million tonne a year ago. So far, 28 million tonne wheat has been procured across the country, up nearly 24% on year.
Indian coffee exports, in tonne.
The Coffee Board of India has finalised its crop estimate for 2015-16 at a record-high of 348,000 tonne, up from 327,000 tonne produced a year ago, but down from previous estimate of 350,000 tonne. The board has estimated the output for 2016-17 at 316,700 MT tonne, down 9% on year.