Chana, masur, and mustard grown in Uttar Pradesh during the 2017-18 (Jul-Jun) rabi season. The procurement decision comes in the wake of weak prices of these commodities because of high supply.
Tur prices flat in Kalaburagi; Akola market shut
Prices of tur were flat in Kalaburagi in Karnataka, despite a fall in arrivals, as supply was enough to meet demand.
Soybean production, imports in Bangladesh projected to increase
Soybean area and production levels for marketing year (MY) 2018/19 -July to June) in Bangladesh are projected to increase to 80,000ha and 152,000 tonnes respectively, due to a switch from Boro rice production. Soybean planting area and production estimates for MY 2017/18 are lowered to 60,000ha and 114,000 tonnes due to unsuitable conditions for planting at the optimal time, and the shift of land to Boro rice cultivation due to an expected higher harvest price. Meanwhile, MY 2018/19 soybean and soymeal imports are estimated to increase to 1.1 million tonnes and 550,000 tonnes respectively, to keep pace with demand in the feed industry, as well as growth in the livestock and fisheries sectors.
Brazilian 2017/18 soy production to hit new record of 119m mt
The forecast is up from Agrural’s view last month of 117.9 million mt and from last year’s record harvest of 114.4 million mt. The higher production is based on a planted area of 34.7 million hectares with an average yield of 3.4 mt/ha.
Philippine soybean meal imports up 5.45% in 2018
The continuous expansion of the livestock and poultry industry in the Philippines may increase the country’s imports of soybean meal (sbm) this year by 5.45% or a record high of 2.9 million tonnes. The projected imports are higher by 15,000 tonnes than the 2.75 tonnes recorded in 2017, driven by strong feed demand from the expanding hog and poultry industries. The US still remains the top source of sbm for the Philippines.
Soybean in Indore falls on low demand from crushers
Soybean prices in Indore fell due to subdued demand from oilseed crushers.Farmers are offloading stocks because they are in need of money ahead of the wedding season. The most active May soybean contracts on the NCDEX were down 0.8%.
Jaipur mustard seed dn on low demand from crushers
Prices of mustard seed fell in Jaipur due to weak demand from crushers and oil millers. A fall in supply, however, cushioned the decline in prices.