Bangladesh to speed up rice imports in wake of flooding.
Ram Gopal Yadav (9 years ago)

Local rice prices have reached record highs and state reserves are at six-year lows in the wake of flooding in April that wiped out around 0.7 million tonnes of output. Plans to import 0.6 million tonne of rice soon amid low stocks. To keep tariffs on private imports to protect farmers. Vietnamese prices hit 13 month high on strong demand from top importing countries such as Bangladesh and the Philippines.

MANILA NFA had enough rice in Marawi City.
Ram Gopal Yadav (9 years ago)

NFA in Marawi City had 38,000 bags of rice, enough to feed the whole province of Lanao del Sur for five days. Combined with commercial rice supply, the stocks can feed the whole province for 15 days. NFA rice stocks for the whole of Mindanao currently stands at 15 million bags.

NCDEX coriander below support of 5,000 rupee/100 kg.
Ram Gopal Yadav (9 years ago)

Futures contracts of coriander on the NCDEX slipped below the crucial support level of 5,000 rupees per 100 kg due to continued selling pressure amid high supply. June contract hit a 4% lower circuit of 4,965 rupees per 100 kg, also a four-and-a-half year low. Rising stock of coriander at exchange-accredited warehouses and market buzz of rising imports of substantially cheaper Ukrainian crop have led to the fall in coriander futures despite strict curbs in form of margins and position limits by the exchange. Stocks of the spice at NCDEX-accredited warehouses rose to 32,130 tonne on Tuesday, up 10,728 tonne on month.

Coriander futures down 40%; under SEBI lens on alleged cartelization.
Ram Gopal Yadav (9 years ago)

Prices of coriander futures fell sharply over the last two months to hit five-year lows, despite strict curbs by the exchange, which has left not only the exchange, but also regulators in quandary about what could have led to the strong one-sided price movement. The contract has hit the 4% maximum lower circuit in at least six trading sessions over the last one month, despite NCDEX raising special margins by 20 percentage points. Concerned over allegations of excessive speculation in coriander futures contracts, SEBI is likely to hold a crucial meeting with NCDEX later in this week.

India coffee exports during Jan 1- May 23.
Ram Gopal Yadav (9 years ago)

The Coffee Board of India has finalised its crop estimate for 2015-16 at a record-high of 348,000 tonne, up from 327,000 tonne produced a year ago, but down from previous estimate of 350,000 tn. The board has estimated the output for 2016-17 at 316,700 MT tonne, down 9%.

USDA arm cuts Vietnam 2016-17 coffee output.
Ram Gopal Yadav (9 years ago)

The USDA Foreign Agricultural Services has revised its estimate for Vietnam coffee production to 26 million bags (1bag=60kg) in 2016-17 (Oct-Sep) from 26.7 million bags due to unusual rains during harvest. Above-normal rains during Oct-Nov delayed harvest of the Robusta crop. Growers generally pick Robusta cherries from the end of October till January. Late rain starting in October through December 2016 did not only slow the picking and drying processes, but caused more physical damage to the beans. This situation also lowered the quality of the beans.