India Apr 16-May 15 mustard crushing 0.675 million tonne down 10% on month.
Soybean down in Indore on poor demand from crushers.
Soybean down in Indore on poor demand from crushers.
NCDEX soybean down on expectations of higher supply.
NCDEX soybean down on expectations of higher supply.
Source says govt may raise tur MSP with bonus.
Source says govt may raise tur MSP with bonus.
Canadian pea exports well ahead of year ago.
Canadian pea exports well ahead of year ago.
Delhi chana down on higher arrivals, low demand.
Delhi chana down on higher arrivals, low demand.
Chana may rise 10% by Jul on likely lower crop, talk of import duty.
Chana may rise 10% by Jul on likely lower crop, talk of import duty.
Govt lifts stockholding limit on pulses to boost private procurement.
Govt lifts stockholding limit on pulses to boost private procurement.
Barley prices up in Jaipur on domestic demand.
Barley prices up in Jaipur on domestic demand.
USDA arm sees India year to Sept 2018 coffee crop up 5% at 5.45 million bags.
The US Agriculture Department Foreign Agricultural Services has estimated India coffee production in 2017-18 (Oct-Sep) at 5.45 million bags (1bag=60kg), up 5.4% from 5.17 million bags pegged in 2016-17 due to pre-monsoon showers in March and April that helped the setting and development of the coffee fruit. Karnataka, rains were 2% above normal in Chikmagalur during Mar 1-May 10, while in Kodagu, rains were 18% above normal and Hassan received 37% above normal rains. The yield of Robusta constitutes over 70% of the total crop, is seen slightly higher than last year due to good rainfall and availability of water for irrigation. The Arabica variety is likely to bear higher fruits than last year.
Sugar prices down in Delhi, unchanged in Mumbai.
Prices of sugar fell in the key wholesale markets of Delhi and Muzaffarnagar, because of poor demand in the market. In Delhi and Muzaffarnagar, the sweetener was sold down by nearly 20 rupees. In Mumbai, the key wholesale market of Maharashtra, prices of sugar were unchanged due to thin trade. Prices in Mumbai, however, are likely to fall in the near term due to lack of demand. On the NCDEX, the most-active June contract of sugar traded down 0.3% from the previous close.
India coffee exports during Jan 1- May 17.
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 tn. The board has estimated the output for 2016-17 at 316,700 MT tonne, down 9% on year.
All-India cotton arrivals steady at 50,500 bales.
Arrivals of cotton at major spot markets across the country were at 50,500 bales (1bale=170kg) on Wednesday, unchanged from previous level.
Coriander prices up in Rajasthan as arrivals slump.
Prices of coriander in the spot markets of Rajasthan rose because of a sharp decline in arrivals. Arrivals in Rajasthan more than halved to 7,000 bags (1bag=40kg). In the benchmark market of Kota, the Badami variety and the Eagle variety both up 200 rupees from the previous day. On the NCDEX June contract of the spice traded up by 4 rupees from the previous settlement.
India rice unchanged in spot markets.
Prices of rice were unchanged in the spot markets, with the 1121 steam variety sold at 8,000 rupees per 100 kg in Taraori, Haryana, and Permal Raw variety quoted at 2,500 rupees in Delhi. Prices are likely to sustain at this level, at least till the next crop arrives in December. While export realisations of basmati rice have increased, export volumes haven’t changed much. India exported 4 mln tn of rice in 2016-17 (Apr-Mar), down 1.1% on year. In volumes terms, there has not been much change in exports. India exported over 700,000 tonne of rice to Iran in 2016-17 (Apr-Mar) marginally higher than 695,000 tonne the previous year.
Govt official sees India year to Jun basmati acreage rising 25%.
The area under basmati rice across India is expected to rise 25% on year to 2 million haactare in 2017-18 (Jul-Jun), as higher realisations have encouraged farmers to cultivate more grain. If the weather and other growing conditions remain favourable, the output might also rise. Basmati rice production in India is estimated to have fallen 23% on year to 6.2 million tonne in 2016-17. Due to shortage of supplies, prices have risen nearly 20% in the last three months. India non-basmati rice output in 2016-17 (Jul-Jun) is estimated at a record high of 103 million tonne.
CBOT corn down 1% on profit booking after gains Wednesday.
Corn futures on the CBOT fell over 1% as traders booked profits after prices rose on previous close. July corn contract traded at $3.6625 a bushel, down 1.4% from the previous close. Corn prices rose on previous close due to weakness in US dollar against major currencies, which made the dollar-denominated commodity cheaper for foreign buyers. Prices were also supported by concerns of crop damage in the US due to rains in regions where the crop is grown. Expectations of higher supplies from major producers Argentina and Brazil are also weighing on prices.
Maize prices tad up in Purnea as rains hit arrivals.
Prices of rabi maize rose slightly in Bihar benchmark market of Purnea as arrivals have declined due to heavy rains. Mill-quality maize was sold up 5-10 rupees from the previous day. Arrivals of maize halved to 2,000 tonne from 4,000-4,500 tonne previous close. Farmers are not bringing much crop in markets, as some of the crops have been damaged due to hailstorms. Low demand for the moisture-laden crop checked any further gains in maize prices. Prices, however, are likely to fall in the coming days due to a likely bumper crop amid subdued demand.
GST: Wheat, rice prices likely to come down.
Foodgrain such as wheat, rice and pulses become cheaper after the goods and services tax (GST) system kicks in later this year. As the GST Council has decided to keep them zero-rated under the new tax regime.
India wheat unchanged in spot market.
Wheat prices in the key wholesale markets of Delhi and Indore were unchanged amid thin trade. Demand from millers is low, which has kept trade subdued. Arrivals in Delhi were around 15,000 bags (1bag=100kg), in Indore, farmers brought around 3,000 bags to the market. Supplies were also unchanged from previous close. Wheat futures contracts, however, ended down as traders booked profits after prices rose over the last six trading days. June wheat contract on the NCDEX settled down 0.3% from previous close.