IMD warns of rice blast disease in south Bihar.
Pea yields fall in US as drought in the US Northern Plains.
Drought problems continue to plague the chickpea crop in Australia. The Australian Bureau of Agricultural and Resource Economics predicts this year’s chickpea production drop by 36 percent. Production is expected to drop by nearly 700,000 tonnes or 45 percent over last year. Lentils are also having a tough time. This year’s harvest is expected to fall by 41 percent to 338,000 tonnes. Drought in the US Northern Plains is cited as one of the key factors behind the drop. The total Canadian pea carryout for the current marketing year is projected to hit 400,000 tonnes, which would surpass the previous estimate of just 50,000 tonnes.
Chana down in Delhi on weak demand, high arrivals.
Prices of chana fell in Delhi due to a decline in demand from dal millers and a rise in arrivals. On the NCDEX, the most-active October contract traded down 2.4% from previous close. Gram and tur declined sharply in Nagpur on poor buying support from local millers amid increased arrival from producing belts.
Urad down in Kalaburagi even as export ban lifted.
After rising on Saturday, prices of urad in Kalaburagi were down despite the government lifting the ban on export of urad, tur, and moong dal. However, rains in Kalaburagi may damage the harvested crop and support prices.
Canada farm agency raises year to Jul 2018 chana price forecast by 4%.
Agriculture and Agri-Food Canada has scaled up its estimate for prices of chana or chickpea in Canada in 2017-18 (Aug-Jul) by 4% to an average of $1,000-$1,030 a tonne, as supply is seen declining due to lower carryover stocks and imports. The agency scaled down its forecast for chana production in Canada in 2017-18 by 22% to 81,000 compared to its estimate in August. The outlook for production of peas in 2017-18 was scaled down by 5% to 3.79 million tonne because of a sharp decline in yields and a small fall in the harvested area. The agency kept its 2017-18 average price forecast for peas unchanged at $280-$310 per tonne due to lower supply and higher carryover stocks. Exports are seen falling 9% from the previous forecast to 2.9 million tonne, with India, China and Bangladesh continuing to be Canada’s top markets. Average prices of masur for the year ending July are seen unchanged at $720-$750 per tonne compared to the previous estimate, owing to high carryover stocks.
NAFED procures 177 tonne of sunflower seed in Odisha.
The National Agricultural Cooperative Marketing Federation of India has procured 177 tonne of sunflower seed under the price support scheme in Odisha. The procurement drive, which started late July, was underway in Eram and Bilana procurement centres, and 235 farmers had sold their crop to the agency. NAFED started procuring the crop from growers as market prices fell below the minimum support price of 3,950 rupees per 100 kg, inclusive of a bonus of 100 rupees. The agency has wound up procurement of the oilseed in Haryana and Telangana.
Groundnut seed up in Gujarat on decline in acreage.
Prices of groundnut seed were up in key markets of Gujarat, as farmers had sown groundnut across 4.13 million ha, down 11.6% on year. Demand from domestic oil millers and crushers also supported groundnut prices of the seed.
Groundnut acreage 4.1 million ha as of Thu, down 11.6% on year.
Farmers had sown groundnut across 4.13 million ha, down 11.6% on year. The fall in area under the oilseed was mainly because of lower acreage in Andhra Pradesh and Karnataka. Poor rainfall in Karnataka during the initial months of the Jun-Sep monsoon season has led to a decline in the area under the crop to 378,000 ha from 522,000 ha sown last year. Acreage in Andhra Pradesh fell over 29% on year to 656,000 ha, as many farmers shifted to other remunerative crops this season. In Gujarat, the largest producing state, groundnut acreage fell marginally to 1.63 million ha from 1.64 million ha last year.
India soybean closes down on rising arrivals; CPO.
Futures contracts of edible oils, barring crude palm oil, fell on the domestic exchanges due to subdued buying in physical markets. Soybean on National Commodity and Derivatives Exchange ended around 0.6% lower because of increasing supply of fresh crop in key markets of Madhya Pradesh and Maharashtra. Arrivals are rising because farmers have started harvesting the early-sown crop as it has reached maturity. Peak arrivals of soybean begin in the first week of October.
Rise in arrivals weigh on Jaipur mustard seed prices.
Mustard seed prices fell in Jaipur due to a rise in arrivals, coupled with lacklustre demand from domestic oil millers and crushers. Higher carryover stock from the 2016-17 season and start of the harvest season for kharif oilseeds also creates bearishness in the market.
Raw sugar import to ease shortage in south mills.
With Tamil Nadu facing a shortfall in sugar production in 2017-18 (October-September), local markets are witnessing the arrival of stocks from Karnataka and Maharashtra. Mills in Tamil Nadu will process about 1.40-lakh tonnes of the imported raw sugar, Karnataka 1.10-lakh tonnes, Andhra Pradesh 34,000 tonnes, and Maharashtra 5,900 tonnes. Tamil Nadu mills have welcomed the move to import raw sugar, as it adds a bit to the capacity utilization and revenue in the coming season. The shortage of cane in Tamil Nadu, due to the extended dry spell in recent years, means mills will be working at less than 30 per cent of capacity. The imported raw sugar represents a small addition, about 12-15 days of processing capacity. Given the present pricing, with sugar selling at about 38 rs a kg, mills estimate they will be able to turn a profit of about ₹1-1.50 a kg on the processed raw sugar.
Govt source says Davangere Sugar surrenders raw sugar import quota.
Davangere Sugar Co Ltd has surrendered the quota allocated to it by the Directorate General of Foreign Trade for import of raw sugar. The company, which has a refining capacity of 500 tonne per day, had applied for 20,000 tonne raw sugar import. The Directorate General of Foreign Trade, however, allocated 6,190 tonne raw sugar to the company. Davangere (Sugar) had opted out of the quota on Sep 14, and licence has not been issued to it. If an applicant fails to bring in sugar after obtaining a licence, they would have to pay a penalty of 0.5% of the value of the unutilised quota.
India Sugar up in north India on value buying; unchanged in Maharashtra.
Prices of sugar rose in the key wholesale markets of north India as demand increased at lower price levels. Sugar prices have remained low for many days now, so, we witonneessed some rise in demand at lower prices. Prices of the commodity have been falling since the beginning of September on account of increased selling pressure on mills as the government imposed stock limits on them. Prices of the sweetener were, however, largely unchanged in the key wholesale markets of Maharashtra in a lacklustre trade.
Malaysia CPO down on strong ringgit, soy oil cues.
Futures contracts of crude palm oil on the Bursa Malaysia Derivatives were down tracking losses in CBOT soy oil and a strong ringgit against the dollar. Expectations of rise in palm oil output in 2018 have further dampened the market sentiment.
Tur prices down in Akola on weak demand from mills.
Prices of tur in Akola, Maharashtra, declined as demand from millers fell. Prices fell even as the government lifted ban on exports of tur dal, urad and moong.