NCDEX cotton oilcake recovers on bargain buying.
Ram Gopal Yadav (9 years ago)

Futures contracts of cottonseed oilcake on the NCDEX recovered due to increased buying after prices hit a 17-month low of 1,845 rupees per 100 kg on Thursday. The most-active June contract was up 1.8% from the previous close. Gains in cotton futures on the MCX also contributed to the rise. The May contract traded up 1.6%. Cottonseed oilcake, a derivative of cotton, is used as animal feed. In Akola, Maharashtra, the benchmark market, cottonseed oilcake was sold at 1,900 rupees per 100 kg, while in Kadi, Gujarat, the commodity was sold at 1,960 rupees, both unchanged from the previous day.

Government considering raising paddy MSP by Rs 80 for FY18.
Ram Gopal Yadav (9 years ago)

The government is considering raising the minimum support price (MSP) of paddy by Rs 80 per quintal to Rs 1,550 for the upcoming 2017-18 crop year starting from July. The ministry has proposed Rs 80 per quintal increase in the paddy MSP for 2017-18 crop year. The suggested MSP for the common grade is Rs 1,550 and that of the ‘A’ grade Rs 1,590. The price increase proposed for paddy, however, is slightly higher than the Rs 60 hike effected during the 2016- 17 crop year. Paddy is grown in both kharif (summer) and rabi (winter) seasons. But much of the paddy output comes from the kharif crop, sowing of which normally begins with the onset of the Southwest Monsoon.

Raw sugar prices weaken ahead of Brazil harvest data.
Ram Gopal Yadav (9 years ago)

Raw sugar futures on ICE were slightly lower on Thursday in a modest retreat after rising for three straight sessions as the market awaited the release of Brazilian harvest data. July raw sugar fell 0.08 cent, or 0.5 percent, to 15.76 cents per lb. (1LB = 0.4535924 KG). The front month contract had risen by 2.6 percent on Wednesday. harvest data for centre-south Brazil was due to be issued by growers’ association UNICA on Thursday covering the second half of April. crush was expected to have been 26 million tonnes, down 28 percent, year-on-year.

UP government plans to bring congruency between sugar cane and sugar prices.
Ram Gopal Yadav (9 years ago)

The issue about the sugar sector currently buzzing in the market is that there is no congruency between the sugar cane and sugar prices in the state of Uttar Pradesh. Market analysts and top honchos of sugar companies believe that the UP government is likely to fix the issue of sugarcane prices soon. Upcoming Sugar year starting on October 1 is likely to see the well balance of production and consumption of sugar. In current trading session, the sugar stocks are trading mostly higher. Dwarikesh sugar is trading higher by 1.05%. Dhampur Sugar stock is trading higher by 0.13%. Uttam Sugar is trading higher by 0.08%. Balrampur Chini stock is trading higher by 1.2%.