India Maize down in spot markets on low demand.
Ram Gopal Yadav (9 years ago)

Wholesale prices of maize fell in the key market of Purnea, Bihar, due to poor demand after severe rains recently. The mill-quality maize was sold at around down 40 rupees from previous close. Heavy rains recently have hit the harvested crop lying in the fields and led to higher moisture content in the grain, thus reducing demand. Prices of the grain to fall further due to a likely bumper crop along with subdued demand.

Purnea maize down on low demand for rain-hit crop.
Ram Gopal Yadav (9 years ago)

Prices of maize in the key market of Purnea, Bihar, fell due to poor demand for the crop after recent rains in the region. Mill-quality maize was sold at around down 40 rupees from previous close. Recent heavy rains have hit the harvested crop lying in fields and led to higher moisture content in the grain. This had reduced demand. At around 5,000 tonne, arrivals were down compared with 9,000 tonne on previous close.

Govt offer 4 million tonne wheat under open market sales scheme FY18.
Ram Gopal Yadav (9 years ago)

The Centre is likely to allocate 4 million tonne of wheat for the open market sales scheme during the 2017-18 (Apr-Mar) marketing year. During 2016-17, the government sold 4.6 million tonne wheat across the country at a base price of 1,640 rupees per 100 kg compared to the initial plan of selling 6.5-7.5 million tonne. The quantum of wheat offered under the open market sale scheme is lower this year because of tight government stocks. Carryover stocks at the beginning of the season were at 7.4 million tonne, which when added to the expected procurement of 30 million tonne wheat this year will take total stocks in government reserves to 37.4 million tonne.

India wheat flat in spot markets.
Ram Gopal Yadav (9 years ago)

Prices of wheat in the key wholesale markets were largely unchanged amid thin trade. Arrivals in Indore were pegged at 15,000 tonne (1bag=100kg), up from 14,000 bags. Arrivals are increasing as procurement by the government is nearing an end. The most-active June wheat contract on the National Commodity and Derivatives Exchange ended up 0.1% from the previous close.

Govt procures 28 million tonne wheat so far in FY18, up 24% on year.
Ram Gopal Yadav (9 years ago)

The government has procured 28.0 million tonne of wheat so far in the 2017-18 (Apr-Mar) marketing year, up nearly 24% on year. In Madhya Pradesh, where 6.2 million tonne wheat has been purchased so far, the total procurement is likely at 7.0 million tonne against the target of 8.5 million tonne. In Uttar Pradesh, where the state government had set an ambitious target of 8.0 million tonne against the centre estimate of 3.0 million tonne, only 1.8 million tonne has been purchased so far. The government crossed its procurement target in Punjab where 11.6 million tonne has been bought so far, up 9.8% from a year ago. In Haryana, another major wheat producing state, 7.4 million tonne has been bought so far, up 10.1% on year and close to the target of 7.5 million tonne.

Uttar Pradesh Oct 1-May 15 sugar output 8.74 million tonne, up 28.4% on year.
Ram Gopal Yadav (9 years ago)

Mills across Uttar Pradesh produced 8.74 million tonne sugar during Oct 1-May 15, up 28.4% on year. Total sugar production by mills in Uttar Pradesh in the year-ago period was 6.81 million tonne. Mills in the state have crushed 82.36 million tonne cane so far, compared with 64.18 million tonne in the year-ago period. Average sugar recovery in Uttar Pradesh was at 10.6%, unchanged on year. With five mills in Uttar Pradesh still operating, market participants expect sugar output in the state this season to touch an all-time high of 8.75 million tonne, surpassing the previous high of 8.47 million tonne in 2006-07. Mills, which are still running, are likely to wind up crushing operations by next week.

India Sugar prices flat in key markets, seen bullish near term.
Ram Gopal Yadav (9 years ago)

Prices of sugar were unchanged in key wholesale markets of Mumbai and Delhi today in thin trade. Sugar prices had risen last week in spot markets of north India due to increase in retail demand because the wedding season. Prices are seen falling in north India due to higher-than-expected sugar output in Uttar Pradesh. Mills in Uttar Pradesh produced 8.74 mln tn sugar during Oct 1-May 15, up 28.4% on year the most-active May contract was up 0.5%. Prices of sugar are seen up in the near term as demand for the commodity is likely to rise ahead of Ramzan. On NCDEX, the most active July contract of sugar was down 0.2% from previous close.

Tamil Nadu year to Sep 2018 sugar output seen down 45% at 600,000 tonne.
Ram Gopal Yadav (9 years ago)

Sugar output in Tamil Nadu is seen falling more than 45% to 600,000 tonne in 2017-18 (Oct-Sep) from an estimated 1.1 million tonne this year. Last year, mills in the state had produced 1.37 million tonne of sugar. Sugar output next season is seen declining because of successive years of meagre rainfall in the state and a drop-in cane acreage. Tamil Nadu received 62% below-normal rainfall during the key northeast monsoon season in Oct-Dec. Back-to-back years of deficit rainfall and a severe drought this year have also dragged groundwater to abysmally low levels in the state. The state has a capacity to produce around 3 million tonne sugar annually.