Latest Report on Wheat Daily | Wheat_Daily 20180810.pdf
Latest Report on Rice | Rice_Daily 20180810.pdf
Latest Report on Rice | Rice_Daily 20180810.pdf
France Jun pea exports down 6% on month at 16,775 tn.
Export of peas by France was down 6% on month in June at 16,775 tn. On year, however, the exports were up 24%. As of June-end, inventories of peas in France were estimated at 285,495 tn, down 2% on year. Belgium was the most important destination, taking 10,560 tn. Netherlands was the second most important destination at 3,120 tn, followed by Italy at 1,535 tn and Spain at 587 tn. India is one of the largest importers of peas in the world, but due to imposition of import duty last year, imports have declined substantially.
Pulses import Jul at Chennai port up 6-fold on month on high urad buys
Import of pulses at Chennai port rose over sixfold on month in July to 41,856 tn because of higher buys of urad. Imports of urad increased substantially to 32,184 tn in July from 3,888 tn in June and 27,120 tn in the corresponding period last year. Imports of some pulses have seen a revival over the past two months with the start of the new financial year. The government had last year imposed quantitative restrictions annually on tur, urad and moong to curb cheaper imports into the country. Total imports of tur into the country were restricted to 200,000 tn and that of urad and moong were limited to 150,000 tn each.
Tur prices rise in Akola, unchanged in Kalaburagi.
Prices of tur in Akola rose because the commodity’s stock with NAFED, which was selling it in the open market, have reduced significantly. In Akola, the benchmark market for tur, prices were at 3,875-3,900 rupees per 100 kg, up 25-50 rupees. The arrivals were steady at 750-800 bags (1 bag=100 kg). In Kalaburagi, a key market, prices were unchanged and arrivals were pegged unchanged.
Globally chana stocks are limited
Globally chana stocks are limited as Australia, the second largest producer of the pulse after India, is facing a severe drought this year which may see the output falling below 500,000 tn. In June, the Australian Bureau of Agricultural and Resource Economics and Sciences had forecast that the chana crop in the country in 2018-19 (Apr-Mar) may fall to 616,000 tn, down 40% from 1.03 mln tn seen in 2017-18. Currently, the price of the Australian chana is around $700 per tn for the old crop and $720 for the new crop that will be harvested soon.
In a first since export sops, 2,500 tn chana on way to Bangladesh.
India is exporting 2,500 tn of chana to Bangladesh, in a first deal since the government approved the export incentive on chana. Government had announced a 7%-export incentive on chana or Bengal gram in March under the Merchandise Exports from India Scheme. The deal (to export a total 2,500 tn chana) were contracted by a global grain company in a range of $640-$690 per tn, cost & freight basis, to be transported via rail.
Cabinet OKs sale of pulses to states at 15-rupee/kg discount on spot
The Union Cabinet today approved the farm ministry’s proposal to provide pulses at a discount of 15 rupees per kg on wholesale rate to the state governments. Pulses would be provided to states from the stock procured under the price support schemes. Under this approved scheme, the state/UT (Union Territory) governments are offered to lift 3.488 mln tn of tur, chana, masur, moong and urad at a discount of 15 rupees per kg over the prevailing wholesale market price of the sourcing state on first come first serve basis.
Jaipur barley down on talk of imports from Argentina.
Prices of barley were down in Jaipur on talk of the grain being imported from Argentina due to concerns over quality of the domestic stocks. Demand from malt industries and stockists is subdued due to poor quality of barley stocks, and this has weighed on prices. However, limited supplies and demand from poultry feed sector cushioned the fall in prices. In Jaipur, the benchmark market, barley was sold at 1,390 rupees per 100 kg, down 20 rupees.
Tax expenditure on govt wheat, rice buys down post GST implementation.
The tax expenditure on procurement of wheat and rice by the government has come down “significantly” after implementation of the goods and services tax. The total tax expenditure on procurement under the GST regime is estimated at 65.3 bln rupees, down from an estimated 153.6 bln rupees before GST was implemented. However, state governments are imposing various cesses/fees like Rural Development Fee, Market Fee, Nirashrit shulk etc on foodgrains procured within the states even after implementation of GST. The rates of such cesses levied by the state governments vary from state to state.
Source says FCI sold 95,150 tn wheat in 4th open market sale for FY19
Food Corp of India sold 95,150 tn of wheat in the fourth round of auctions under the open market sales scheme for 2018-19 (Apr-Mar). At the auction, which ended on Thursday, the agency had offered 2.4 mln tn of the food grain. Response to wheat auction has been good mainly from West Bengal, Madhya Pradesh, Punjab and Haryana. The agency had sold 102,950 tn of wheat in the third round, held on Aug 2. For Jul-Sep, the government has fixed the base price for selling wheat under the open market sales scheme at 1,900 rupees per 100 kg.
HC to hear Madhya Pradesh basmati geographical tag claim case Aug 17
The Madras High Court has deferred to Aug 17 the hearing of Madhya Pradesh government’s petition seeking geographical indication tag for basmati grown in the state. The court was supposed to hear this case on Tuesday. The Madhya Pradesh government had filed a fresh petition after Geographical Indication Registry, in March, had rejected the state’s plea to be included among those growers whose variety of rice can be marketed as basmati. Madhya Pradesh has been fighting to claim geographical indication tag for basmati since 2013. Geographical Indication certifies products or crops that have a specific origin and possess qualities or reputation pertaining to that geographical origin, such as Darjeeling Tea, Nagpur Orange and Mysore Silk. The state had demanded inclusion of a few of its districts–Morena, Bhind, Gwalior, Sheopur, Datia, Shivpuri, Guna, Vidisha, Raisen, Sehore, Hoshangabad, Jabalpur and Narsingpur–under the regions suitable for cultivation of basmati.