Farmers in Australia have been asked to continue with the sowing of chana, despite fears that India, the largest market for the commodity, may increase its import duty to 100%, as experts think the import hike might be temporary. India recently increased its import duty on chana to 60% from 40%. The tariffs were first imposed in December and raised further last month. Expects the tariffs to be revoked after general election in India in April next year.
Akola tur prices down on weak demand from millers.
Prices of tur fell in Akola, the benchmark market, due to weak demand from millers. In Akola, Maharashtra, prices of tur were down 50 rupees, adding that arrivals were steady.
Ukrainian soybean meal exports increased by almost 30%
A total 137.4 KMT of soybean meal was shipped abroad in September-January 2017/18 that is up 28.5% on the year. January exports were higher than last year – 32.8 KMT compared to 22.3 KMT. In September-January 2017/18, the bulk of Ukrainian soybean meal exports went to Belarus and the European Union: 33% and 31%, respectively.
NAFED begins mustard procurement at MSP in 3 districts of Rajasthan
The National Agricultural Cooperative Marketing Federation of India began procurement of mustard, and has bought 19 tn of the commodity at the minimum support price in three districts of Rajasthan. The fall in mustard prices was due to subdued buying by dal millers, as well as higher arrivals of the fresh crop in major markets. Estimates of a bigger crop also weighed on sentiment.
India Feb mustard crushing 15% higher on month as arrivals pick pace
Oil mills across the country crushed 375,000 tn of mustard seed in February, up 15% on month. In January, mills had crushed 325,000 tn of the oilseed. Mills increased crushing in February after new crop arrivals in key markets gathered pace as the harvest progressed. New crop mustard arrivals begin in February and gain momentum in March. Till May, arrivals are in full swing and start dwindling June onwards.
Russia soybean oil production shows steady growth
In January of the 2017/18 season, Russia crushed a record large monthly volume of soybeans as for this period of a season. Despite that fact, in January soybean oil production decreased 32.7% compared to the previous month and equaled 55.5 KMT. The crushing volume grew by 7.4% compared to January 2017 (51.7 MMT). During the five months of the 2017/18 season (September-January), the soybean oil production rose to record high 308.7 KMT, that was 8.2% more compared to the same period last season.
Ukrainian soybean meal exports increased by almost 30%.
A total 137.4 KMT of soybean meal was shipped abroad in September-January 2017/18 that is up 28.5% on the year. January exports were higher than last year – 32.8 KMT compared to 22.3 KMT. In September-January 2017/18, the bulk of Ukrainian soybean meal exports went to Belarus and the European Union: 33% and 31%, respectively.
Trade body survey sees 2017-18 mustard crop up at 7.2 mln tn
Production of mustard in India in 2017-18 (Jul-Jun) is estimated at 7.2 mln tn, up from 6.9 mln tn the previous year. The expected growth in production is because the yield in key growing areas across the country is seen higher on year due to favourable weather conditions. the average yield in 2017-18 is pegged at 1,100 kg per ha, up from 1,025 kg a ha the previous year. The expected rise in is despite lower acreage. The area under the oilseed across the country is at 6.4 mln ha against 7.1 mln ha a year ago.
NCDEX barley up on improved demand from feed sector
Futures contracts of barley on the NCDEX rose due to improved demand from the poultry feed industry. On NCDEX, the most active April contract was up 0.57%. A rise in prices of barley at the spot market in Jaipur, the benchmark market, also supported prices on the bourse.