Groundnut acreage 4.1 million ha as of Thu, down 11.6% on year.
Ram Gopal Yadav (7 years ago)

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.
Ram Gopal Yadav (7 years ago)

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.
Ram Gopal Yadav (7 years ago)

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.
Ram Gopal Yadav (7 years ago)

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.
Ram Gopal Yadav (7 years ago)

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.
Ram Gopal Yadav (7 years ago)

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.
Ram Gopal Yadav (7 years ago)

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.