Wheat prices down in Indore due to muted demand.
Chana down in Bikaner on weak demand from mills.
Prices of chana fell in Bikaner, Rajasthan due to a fall in demand from dal millers. On the NCDEX, the most-active October contract was down 0.4% from previous close.
Gujarat sees surge 44% in kharif pulses sowing.
As against the national trend, the kharif sowing in Gujarat has shown remarkable growth in pulses sowing with up to about 44 per cent rise in different varieties of pulses. The area under moth beans increase the most by close to 45 per cent to 27,100 hectares as on September 12 as against the three-year average of 18,800 hectares. Other pulses varieties such as moong (green gram), urad and tur witnessed higher acreage by 13-16 per cent. The overall total area under kharif pulses reported an increase of about 8 per cent to 5,60,300 hectares as against 3-year average of 5,21,000 hectares.
Rajasthan government to start pulses procurement from October.
A total of 76 centres for procurement of moong opened in the state. Similarly, 28 centres for urad, 29 for peanuts and 25 for soybean opened. More procurement centres can be opened considering the interests of farmers and demand of people’s representatives. The move was taken considering the interest of farmers in the state so that they get right price for pulses and oilseed crops. Union government has fixed support price of Rs 5,575 per quintal for moong, which includes bonus of Rs 200. The support price of urad has been announced Rs 5,400 including Rs 200 bonus and Rs 4,450 for groundnut including Rs 200 bonus and Rs 3050 per quintal including bonus for soybean.
Govt lifts export ban on tur dal, urad, moong with immediate effect.
The government lifted the ban on exports of tur dal, urad, and moong with immediate effect. The export of these pulses allowed only after registration of contracts with Agricultural and Processed Food Products Export Development Authority. The move came in the wake of industry demand to support the falling prices in key markets of the country. Prices of most of the pulses hovered near and mostly below the minimum support levels in the country. The government had earlier capped the import of pulses to boost the domestic prices. The government had capped import of tur at 200,000 tonne per annum and urad and moong at 300,000 tonne each per year.
Gujarat pegs 2017 groundnut output 3.27 million tonne vs 2.74 million tonne.
Output of groundnut, another major crop in the state, is seen rising 19% on year to 3.27 million tonne. Castor output is estimated to decline 12% on year to 1.11 million tonne. Total oilseed output in the kharif season is seen at 4.54 million tonne, as against 4.16 million tonne a year ago. Guar output in Gujarat, the second largest growing state, is likely to fall 41% on year to 144,000 tonne, as acreage declined to 200,000 ha from 352,000 ha a year ago.
India rise in new crop arrivals pull down spot soybean.
Arrivals of new soybean crop rose in the benchmark Indore market in Madhya Pradesh by nearly 200 bags (1 bag = 100 kg) to 500 bags. New crop arrivals started last week. Total arrivals across Madhya Pradesh were pegged at 80,000 bags, up from 60,000 bags a week ago. Of the 80,000 bags, about 7,000-8,000 bags comprised new crop arrivals. The most-active October contract of soybean on NCDEX ended up 0.3% from previous close. Improved demand for soybean ahead of the festival season also contributed to rise in prices on the domestic exchange.
Globoil-2017, Highlights, Dorab Mistry, Director, London-based Godrej International:
India edible oil imports is estimated to rise 1.6% to 15.5 million tonne in the current marketing year ending October. There are expectations of higher imports as production is stagnating and local oilseeds remain uncrushed. Of the total edible oil imports estimated for 2016-17 (Nov-Oct), palm imports would likely comprise the bulk at about 9.65 million tonne, up from 9.32 million tonne bought in the year-ago period. Malaysia palm oil stocks rising till Dec. See Malaysia palm oil stocks falling Jan-Sep. Scales up 2017 Malaysia palm oil output view to 20 million tonne. Scales up 2017 Indonesia palm oil output view to 35 million tonne. ndia ’17-18 sunflower oil import up 1% at 2.15 million tonne. India ’17-18 palm oil import up 4% at 9.65 million tonne. India ’17-18 soyoil import down 3% at 3.4 million tonne. India ’17-18 edible oil import up 2% at 15.5 million tonne
Globoil-2017, Highlights: Thomas Mielke, CEO, Oil World Magazine.
Edible oil prices down in Oct-Dec on ample stocks. Global edible oil prices are likely to see a bearish trend in Oct-Dec due to ample supplies. Crude palm oil futures on Bursa Malaysia falling to or below 2,600 ringgit (about 39,770 rupees) per tonne in Oct-Dec. Currently, the November crude palm oil contract on the Bursa Malaysia is at 2,852 ringgits per tonne. A production surplus (of edible oils) in 2017-18 (Oct-Sep) result in a recovery of stocks and become bearish factor for oils. India 2017-18 palm oil import 9.7 million tonne, up 5%. India 2017-18 soyoil imports 3.6 million tonne, up 6%. India 2017-18 sunflower oil import 2.35 million tonne, up 9%. World edible oil prices probably bottomed out Jul. Indonesia ’17 palm oil output 36 million tonne, up 12%. Global ’16-17 sunflower oil export up 24% on year. Global ’16-17 sunflower oil export at 10.4 million tonne. World 2018 palm oil output 69.74 million tonne, up 4%. Indonesia 2018 palm oil output at 38.2 million tonne, up 6%. CPO futures at 2,600 ringgits/tonne by Oct-Dec. Malaysia 2018 palm oil output at 20.6 million tonne, up 27%. World 2017-18 veg oil output 224 million tonne, up 3%
Global sugar body sees prices subdued this year on surplus.
After two years of deficit, the global sugar market is likely to post a surplus in 2017-18 (Oct-Sep). The surplus expected had dragged front-month raw sugar contract on Intercontinental Exchange to a 16-month low of 12.53 cents a pound in June. Though prices have since recovered to over 14 cents, they are likely to trade in a narrow range of 12.55-18.20 cents a pound over the next few months. Sugar prices are likely to remain in a range as the global sugar production is seen at a record high this year. International Sugar Organization has pegged global 2017-18 sugar output at a record high of 179.30 million tonne, up 11.5 million tonne from this year, driven largely by production increases in India, Thailand, China and EU. Sugar output in Brazil, the world’s largest sugar producer and exporter, is expected to be only marginally higher at 36.2 million tonne, while that in European Union it may rise to 18.64 million tonne, much higher compared to 15.9 million tonne produced in 2016-17.
Pakistan govt allows export of 500,000 tonne of sugar.
Pakistan has allowed export of 500,000 tonne of sugar due to surplus stock in the country. Pakistan is estimated to have produced around 6.2 million tonne sugar this season. The country’s consumption is roughly 5 million tonne, leaving a surplus of 1.2 million tonne. For the 2016-17 marketing year ending September, the country has allowed export of 725,000 tonne of sugar till July, though exports have been below the allocated quota due to low prices globally.
Maharashtra cane crop reels under white grub pest attack.
Sugarcane crop in South and Central Maharashtra, the key growing regions, has suffered extensive damage due to pest attacks, and yields could dip by 10-15 per cent in the twin regions, causing extensive loss to farmers. Crop damage is extensive because of the white grub pest, which attacks the roots of sugarcane. In South and Central Maharashtra, more than 16.85 per cent and 41.25 per cent area has been affected in 2016-17 due to the pest attack. An average 30 to 35 per cent area is affected, which could result in a 10 to 15 per cent loss in sugarcane yield. In Maharashtra, sugarcane has been planted in about 9.5-lakh hectares for the 2016-17 season, higher than the 6.33-lakh hectares in the previous year.
India Sugar selling pressure on mills drags down price in spot markets.
Prices of sugar fell in key wholesale markets of the country amid increased selling pressure on mills. Prices of medium-grade sugar were down by 5 rupees per 100 kg each in the markets of Delhi and Muzaffar nagar, while they were 10 rupees per 100 kg lower in Mumbai and Kolhapur. Millers quoted lower prices as there was no demand at current price levels and mills have to adhere to stock limits.