IMD advised to Andhra farmers to spray fungicide on paddy.
Nizamabad maize prices seen rising after Diwali.
Nizamabad maize prices seen rising after Diwali.
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Tur up in Akola on dal millers buys, gains in chana.
Prices of tur at Akola in Maharashtra were up because of demand from dal millers along with strength in the chana prices. In the key market of Kalburagi, Karnataka, tur was steady.
Urad prices up in Delhi on demand from millers.
Prices of urad in Delhi were up because of demand from millers and gains in other pulses. Reports of procurement of the pulse by the government agencies are also creating positive sentiment.
Chana prices up in Delhi, Bikaner as demand revives.
Chana prices rose in Delhi and Bikaner because of a slight recovery in demand due to ongoing festivals.
Farm minister says Centre to procure kharif urad, moong in Gujarat.
The Centre has approved the Gujarat government’s proposal for procurement of moong and urad crop grown in 2017-18 (Jul-Jun) kharif season. The central government has given approval for procurement of 16,000 metric tonne moong and 20,750 metric tonne urad from farmers in Gujarat at the minimum support price. The government spend 2.01 billion rupees to procure the pulses. The government has decided to procure the pulses as their prices have fallen below the MSP in key markets of the state Minimum support price for urad in 2017-18 was fixed at 5,400 rupees, including a bonus, and for moong, it was fixed at 5,575 rupees, including a bonus. The government had approved procurement of these pulses in Maharashtra late last month.
China September soybean imports up 13% on year at 8 million metric tonne.
China imported 8.11 million metric tonne of soybean in September, up 12.8% on year. The country’s import of soybean during the first nine months of this year was also up 15.5% on year at 71.45 million metric tonne. The USDA expects the country to import about 95 million metric tonne of soybean in 2017-2018, up from 92.5 million metric tonne in 2016-2017. The most-active November contract of soybean on the CBOT was at $9.94 per bushel, up 0.2% from the previous close.
Brazil body sees lower soybean output in 2017-18.
Soybean production in Brazil during 2017-18 is seen at 106-108 million metric tonne and is likely to account for about 89% of the total crops produced in the country. Brazil produced 114 million metric tonne of soybean in 2016-17. Soybean acreage in Brazil is seen at 34.5 million-35.2 million hactare in 2017-18, nearly 3% higher than the previous crop.
Govt cuts base import price of all palm oils, soy oil.
Govt cuts crude palm oil base import price to $719/metric tonne vs $743/metric tonne. Cuts RBD palm oil base import price to $751/metric tonne vs $780/metric tonne. Cuts crude palmolein base import price to $754/metric tonne vs $785/metric tonne. Cuts RBD palmolein base import price to $757/metric tonne vs $788/metric tonne. Cuts crude soyoil base import price to $824/metric tonne vs $851/metric tonne.
Junagadh groundnut seed prices up on crushers demand.
Prices of groundnut seed were up in Junagadh, Gujarat, due to improved demand from domestic crushers and oil millers ahead of festive season. A fall in arrivals, coupled with improved demand from cattle feed industries, further supported groundnut seed prices.
India Soybean, CPO gain on firm spot buying; mustard down.
Futures contracts of the most components in the edible oil basket, barring mustard, traded higher on domestic exchanges owing to firm demand in physical markets. Soybean futures on the National Commodity and Derivatives Exchange rose 0.4% due to a rise in demand by crushers ahead of the five-day Diwali holidays. Soybean prices also rose on reports that the government was likely to procure the oilseed in Maharashtra and Rajasthan to help farmers.
Rabobank sees 2017-18 EU sugar output at 20.1 million metric tonne.
Rabobank expects sugar output in the European Union o rise to 20.5 million metric tonne in 2017-18 from 16.7 million metric tonne produced in 2016-17. The increase be led by growth of more than 2 million metric tonne in output in both France and Germany, to 5.8 million metric tonne and 4.5 million metric tonne, respectively. USDA’s Europe Union bureau had estimated the sugar output in the region at 20.1 million metric tonne for 2017-18. The expectations of a rise in sugar production in EU can be attributed to the abolition of output quota in September. The last agricultural quota system in place, managing sugar production in the EU, was scrapped on Sep 30, after nearly 50 years.
54,750 metric tonne raw sugar to arrive at Kakinada Oct 22
Around 54,750 metric tonne of imported raw sugar is expected to arrive at Kakinada port, Andhra Pradesh on Oct 22 through Interocean Shipping agency. The government, earlier this month, had allowed import of 300,000 metric tonne raw sugar at a basic customs duty of 25% under the tariff rate quota for 60 days.
India Sugar steady in spot markets in thin trade, up on NCDEX.
Prices of sugar in the key wholesale markets of the country were largely unchanged in a thin trade. While demand had improved earlier this month on account of festive buys ahead of Diwali, as of now, only day-to-day demand is seen in the markets keeping the prices stable. In the short term, prices are likely to remain in a range.