Tur down in Latur on subdued demand from dal millers.
Ram Gopal Yadav (8 years ago)

Prices of tur were down in Latur, Maharashtra, owing to subdued demand from dal millers and domestic stockists. An increase in the arrivals of the pulse also weighed on price. Arrivals were estimated at 7,000 bags (1bag=100kg), as compared to 5,000 bags on previous close.

NAFED to auction 21,473 tonne moong via NCDEX e-Markets.
Ram Gopal Yadav (8 years ago)

The National Agricultural Cooperative Marketing Federation of India has offered 21,472.8 tonne of moong for auction through NCDEX e-Markets. The pulse is stocked at Central Warehousing Corp and other warehouses in Andhra Pradesh, Madhya Pradesh, Haryana, and Rajasthan. In other tender, the nodal agency is also offering to sell 3.4 tonne of tur, currently stocked at Central Warehousing Corp in Telangana.

Madhya Pradesh OKs price deficit scheme for 8 kharif crops this year.
Ram Gopal Yadav (8 years ago)

Madhya Pradesh Cabinet approved price deficit mechanism for eight crops in the ongoing kharif season on pilot basis to ensure fair price for the produce. Under this mechanism, the government will compensate farmers the difference between modal price of a crop and its MSP in case the modal price falls below the MSP. Soybean, groundnut, sesame, ramtil, maize, moong, urad and tur crops of kharif have been included in this scheme. Farmers have to register themselves on the government’s portal till Sep 30 to avail benefits under the scheme. The mechanism would ensure fair prices to farmers without the hassles of actual procurement and storage of crops.

Malaysia CPO up tracking CBOT soy oil; weak ringgit.
Ram Gopal Yadav (8 years ago)

Futures contracts of crude palm oil on the Bursa Malaysia Derivatives traded up tracking gains in the soy oil contracts on the CBOT. Prices of soy oil and crude palm oil move in tandem as both are used in production of bio-fuels. A weak Malaysian ringgit against the dollar further supported gains in prices. A weak ringgit makes the commodity attractive for foreign buyers. Investors now await Malaysian crude palm oil export data for August for further cues.

NCDEX soybean at week low as yields seen higher.
Ram Gopal Yadav (8 years ago)

Futures contracts of soybean fell to a one-week low on NCDEX because of increased prospects of recovery in the yields following favorable rainfall in major growing areas. The crop is previously under threat due to deficient rains in Madhya Pradesh and Maharashtra. Spot prices of soybean in the benchmark market of Indore, Madhya Pradesh, also fell.

Pest menace, weak rains, lower area to spur soy prices 10% Oct-Nov.
Ram Gopal Yadav (8 years ago)

Defying the usual bearish trend during fresh arrival season, soybean prices may rise 10% in Oct-Nov, bolstered by pest attacks, weak rains, and projections of lower acreage. Anticipation of a smaller crop size this year due to fall in area and weather vagaries may primarily support prices. Soybean may rise by around 10% during Oct-Nov. India’s soybean output is likely to fall 5% to 9.6 million tonne in 2017-18 (Oct-Sep) as acreage is seen lower in key growing areas. We expect prices to rise by nearly 10-12% by October-end and November, as by that time, we’ll have a clearer picture of the damage to crop and fall in production.

Uttar Pradesh may keep 2017-18 cane price unchanged at 305 rupees/100 kg.
Ram Gopal Yadav (8 years ago)

Uttar Pradesh government is likely to keep the administered price of cane for 2017-18 (Oct-Sep) unchanged at 305 rupees per 100 kg. It is most likely that the state-advised price for sugarcane will not be raised for 2017-18. Reduction in price is anyway not possible as it would clash with farmers’ demand for higher prices. In 2016-17, Uttar Pradesh had raised the administered price of cane by 25 rupees per 100 kg to 305 rupees after keeping it unchanged for three years. The state government is likely to continue with its sugarcane pricing policy for at least two more years, a senior official from the state cane department had said earlier this month.

India sugar down in spot as govt imposes stock limit on mills.
Ram Gopal Yadav (8 years ago)

Prices of sugar fell in the key wholesale markets of the country as implementation of stock holding limit on mills dampened the sentiment for the commodity. Government has imposed stock holding limits on sugar mills for September and October. Sugar mills can hold up to 21% of the total sugar supply of 2016-17 (Oct-Sep) season as of end of September, and 8% of the supply as of end of October.

Govt imposes stock holding limits on sugar mills for Sep-Oct.
Ram Gopal Yadav (8 years ago)

The government has imposed stock holding limits on sugar mills for the months September and October. Sugar mills can hold up to 21% of the total sugar supply of 2016-17 (Oct-Sep) season as of end of September, and 8% of the supply as of end of October. Paswan also said that there is no shortage of sugar for domestic consumption. Stock limit has been introduced to keep prices of sugar in check with a slew of festivals lined up for the next few months