WHEAT WASDE SEPTEMBER OUTLOOK
Russia planning to export 30 MMT of wheat in 2017-18.
Russia planning to export 30 MMT of wheat in 2017-18.
Russian wheat prices rise as farmers hold back on sales.
Russian wheat prices rise as farmers hold back on sales.
Govt of Bangladesh approved Russian wheat imports.
Govt of Bangladesh approved Russian wheat imports.
Japan offers to buy 139,382 tonnes of food wheat via tender.
Japan offers to buy 139,382 tonnes of food wheat via tender.
Govt to fund farming in wheat-blast hit West Bengal
Govt to fund farming in wheat-blast hit West Bengal
Indore wheat tad down on adequate supplies in markets.
Indore wheat tad down on adequate supplies in markets.
Uttar Pradesh millers urge govt to hike wheat import duty to 40-50%.
Uttar Pradesh millers urge govt to hike wheat import duty to 40-50%.
ABARES pegs Australia 2017-18 chana crop at 1.2 million tonne, down 36% YoY.
Australia chana production is seen declining 36% on year to 1.19 million tonne in 2017-18 due to a fall in average yield. Although area under chana cultivation is estimated to increase by 4.5% to 1.1 million ha in 2017-18, production is expected to fall as rainfall was below average in the most cropping regions in June and was highly variable in July and August. Most of Australia’s chana is exported to India. In the year ended June, Australia sold a record 1.1 million tonne chana to India. The country’s chana exports to India are likely to fall to 0.8-1.0 million tonne in 2017-18 (Jul-Jun), as Australia’s chana crop is expected to be much smaller on year.
MMTC invites bids for sale of 8,266 tonne tur, 2,963 tonne urad.
MMTC Ltd has floated a tender to sell 4,211 tonne imported tur from the 2016 Malawi, Mozambique crop and 2,963 tonne urad from the 2016 Yangon, Myanmar crop. The tur and urad are lying at the Central Warehousing Corp in Virungambakkam and Madhavaram in Chennai and National Collateral Management Services Ltd’s M.K, Balaji and PKC warehouses. Bids must be submitted on Sep 19, and opened the same day. The bids remain valid for acceptance till Sep 25. In another tender, MMTC invited bids for sale of 4,055.64 tonne imported tur from Africa and 2,491.56 tonne red lentils imported from Canada.
Karnataka pegs 2017 tur crop down 45% at 663,000 tonne.
Production of tur in Karnataka is estimated to have declined 45% on year to 663,000 tonne in kharif season due to sharp fall in acreage and yield. In 2016-17, tur prices had slipped below minimum support price because of a record high output, which prompted farmers to shift to cotton sowing from tur in the current kharif season.
Maharashtra seeks Centre OK to start urad, moong buys in 7-8 days.
With prices of urad falling more than 1,000 rupees below the minimum support price, the Maharashtra government has sought the Centre approval to begin procurement of the commodity. The proposal follows the Latur agricultural produce market committee raising a complaint with the district collector that farmers were forced to sell the new crop below the minimum support price in the absence of government procurement. Farmers have been requested not to bring the produce yet as prices are low, but those in the urgent need of money are compelled so sell it at a lower rate.
Govt to fund pulses, oilseed farming where wheat-blast hit West Bengal.
The General Council of National Food Security Mission decided to allocate funds for cultivation of pulses and oilseeds, in those areas of West Bengal, where the wheat crop was affected by blast disease during the 2016-17 rabi season. Growers in the region had burnt the affected crop that was over 1,000 ha in the state. Among other decisions the council also decided to allocate additional funds to encourage pulses cultivation in rice fallow areas of east India. In 2016-17, the number of districts in the country growing pulses was 638, across 29 states, up from 468 districts in 16 states in 2012-13.
Delhi chana down on weak buys due to GST confusion.
Chana prices were down in Delhi as buying of the commodity was affected due to confusion over new amendment in the goods and services tax. Traders were uncertain about the terms on which branded and non-branded items will be distinguished for the purpose of determining the applicable GST rate.
Indore soybean down as arrivals of new crop increase.
Soybean prices in the benchmark market of Indore, Madhya Pradesh, fell because of higher arrivals of the new crop. There are expectations of prices falling by an additional 100-150 rupees in the coming days, as supply of the new crop is likely to gather pace. Soybean futures on NCDEX, however, rose around 0.2%.
NCDEX mustard seed at 4-week low on high stocks.
The October contract of mustard seed on the NCDEX hit a four-week low because higher carryover stocks of mustard seed from the 2016-17 season was leading to bearishness in the market. On NCDEX, the October contract was down 0.47% from previous close. Commencement of harvesting of kharif oilseeds in the country is also seen weighing on mustard seed prices.
India Aug edible oil imports 1.34 million tonne, up 7.2% on year.
India edible oil imports rose 7.2% on year to 1.34 million tonne in August. During Nov-Aug, the country imported 12.44 million tonne of edible oil, higher than 12.04 million tonne a year ago. In August, overall imports of vegetable oils–comprising edible and non-edible oil–were at 1.36 million tonne, against 1.26 million tonne a year ago.
Edible oil stock in pipeline 1.6 million tonne as of Sep 1.
The stock of edible oils expected to arrive at various ports in India as of Sep 1 was at 1.59 million tonne, unchanged on month. As of Sep 1, India had 907,000 tonne of edible oil in stock at ports, compared with 883,000 tonne a month ago. India’s monthly requirement is around 1.75 million tonne. However, it currently holds over 2.49 million tonne, or a 43-day stock.
Karnataka output of oilseeds is seen at 480,000 tonne, against 589,000 tonne in 2016-17.
Among oilseeds, output of groundnut is seen declining 23% on year to 190,000 tonne, while production of sunflower, another major crop grown in the state, is seen down 14% on year at 68,000 tonne. The overall output of oilseeds in the state is seen at 480,000 tonne, against 589,000 tonne in 2016-17.
Mauritius trims 2017 sugar output.
Mauritius cut its 2017 sugar production forecast by 2.7 percent, blaming above average rainfall for a poor harvest. It now expects sugar production of 350,000 tonnes this year, down from a previous forecast of 360,000 tonnes. Rainfall in the month of May was well above average representing 272 percent of the long-term average while the island received only 90 percent of the normal sunshine. Mauritius produced 386,277 tonnes of sugar in 2016. Sugar contributes about 1 percent of the Indian Ocean island’s $13 billion gross domestic product.