ICE raw sugar futures rise 1% due to bargain buying
Ram Gopal Yadav (7 years ago)

Futures contracts of raw sugar on ICE rose as investors brought the commodity after prices hit an over 30-month low of 11.93 cents per pound. The benchmark May contract on ICE was up 1.9% at 12.13 cents per pound. Prices of raw sugar had fallen earlier due to concerns that exports from India may add to the global glut.

Uttar Pradesh sugar mills fret as molasses slumps to 1 rupee/100 kg
Ram Gopal Yadav (7 years ago)

There seems to be no end to the troubles of the sugar industry in Uttar Pradesh. While the mills in the state are already struggling to pay cane farmers due to a dip in sugar prices, there’s a fresh crisis brewing. The prices of molasses in Uttar Pradesh have nosedived to a record low of 1 rupee per 100 kg due to higher production this year and restrictions in their free flow.

India Sugar Steady on higher demand at low prices but view bearish
Ram Gopal Yadav (7 years ago)

Prices of sugar in key wholesale markets across the country were steady due to higher demand at low prices. Sugar prices have been on a downward spiral since the beginning of the season in October due to expectations of higher production. Mills have been lowering prices due to constant selling pressure but improved demand kept prices steady.

Telangana rabi maize procurement begins, govt buys 5,000 tn so far
Ram Gopal Yadav (7 years ago)

Telangana government has started procuring rabi maize from farmers and has purchased nearly 5,000 tn of the grain so far. The government is procuring maize at the minimum support price of 1,425 rupees per 100 kg. The government is targeting procurement of nearly 500,000 tn maize in the state in the current season.

Jaipur mustard tad up on mills’ demand; supply down
Ram Gopal Yadav (7 years ago)

Prices of mustard seed in Jaipur were slightly higher because of improved demand from mills. Demand is seen rising as the price gap between mustard oil and other refined oils, particularly palm oil, has narrowed. Mustard futures were marginally in the red due to a rise in stocks at exchange warehouse.

Groundnut price down in Gondal on sluggish demand
Ram Gopal Yadav (7 years ago)

Prices of groundnut were down in Gondal because of sluggish demand from oil millers. A 31.8% decline in the exports of the groundnut seed during Apr-Feb is also seen creating bearish sentiments. Exports of groundnut in Apr-Feb was at 449,190 tn as compared to 658,168 tn in the corresponding period last year.

Bulgaria keeps reducing barley acreage
Ram Gopal Yadav (7 years ago)

Similar to other Black Sea countries, spring planting in Bulgaria lags far behind last year due to its delayed start. So, as of March 29, 2018, corn for grain had been sown on 0.5 Th ha versus 14.3 Th ha by the same date in 2017. Spring barley was planted on an area of 0.3 Th ha (2.3 Th ha in 2017). Feed pea plantings already reach 4.3 Th ha (20.0 Th ha) with those of oats totaling 1.1 Th ha (5.4 Th ha).

Source says 85,000 tn Argentina barley arrived at Mundra port on Sat
Ram Gopal Yadav (7 years ago)

About 85,000 tn of barley from Argentina arrived at the Mundra Port in Gujarat. The commodity has been contracted at $215 a tn, on cost-and-freight basis. Of the 85,000 tn barley, about 40,000 tn has been bought by Gurugram-based The Malt Co (India) Pvt Ltd, 20,000 tn by Haryana-based Barmalt Malting India Ltd, and the rest by SABMiller India. This is the second shipment of the grain and a total of 145,000 tn has been imported from Argentina since January. Traders estimate that barley output in 2017-18 (Jul-Jun) is likely to be at 1.0-1.1 mln tn, compared with 1.6 mln tn in 2016-17

NCDEX chana down as warehouse stocks rise
Ram Gopal Yadav (7 years ago)

Futures contracts of chana fell on NCDEX due to higher stocks in NCDEX-accredited warehouses. Traders were also cautious after licenses of eight traders were cancelled for buying chana below minimum support price. The most-active May contract was down 1.54%.

Madhya Pradesh aims to buy 2.1 mln tn chana, 7.5 mln wheat at MSP
Ram Gopal Yadav (7 years ago)

Madhya Pradesh aims to procure 2.1 mln tn chana and 7.5 mln tn wheat at minimum support price. Most states are procuring chana to jack up prices, which have remained below the support price of 4,400 rupees per 100 kg amid bumper output in the last few months. The target for wheat procurement has been increased from the earlier estimate of 6.7 mln tn due to a similar revision in output of the grain.