Wheat futures on NCDEX also edged higher amid absence of cues from key spot markets that were shut on account of Janmashtami. On NCDEX, the September-delivery wheat futures closed at 2,016 rupees per 100 kg, up 12 rupees. Wheat prices are likely to be confined to a narrow range in the coming days as the government has huge inventory of the food grain in its central pool. The government has also raised its estimate for wheat output in 2017-18 to a record high 99.70 mln tn from 98.61 mln tn earlier.
Kharif tur area unchanged on yr at 4.45 mln ha.
India’s tur acreage was at 4.45 mln ha, largely unchanged from the previous year. Acreage under tur in Karnataka, the second largest producer of the pulse, was up 12.3% on year at 984,000 ha. During Jun 1-Sep 2, Karnataka received 693.6 mm rainfall, 2% above the normal weighted average of 683.0 mm. In Maharashtra, the area under tur was down 4.5% on year to 1.2 mln ha.
Urad acreage down 13% on year at 3.76 mln ha.
Farmers in the country have sown urad across 3.76 mln ha this kharif season down 12.8% on year. In Madhya Pradesh, the largest grower of urad, acreage was down 16.7% on year at 1.49 mln ha as farmers shifted to paddy and soybean in search for lucrative returns. For 2018-19 (Jul-Jun), the government has increased the minimum support price for paddy by up to 13% and for urad by 3.7%. Last year, many farmers opted for urad instead of soybean due to scattered rains and low realisations from the latter, which resulted in a jump in urad acreage.
Moong acreage up 6.5% on year at 3.4 mln ha.
Area under moong crop across the country was at 3.37 mln ha, up 6.5% on year, largely due to a rise in acreage in Rajasthan and Karnataka. In Rajasthan, the largest grower, area under the crop jumped 22.0% on year to 1.91 mln ha. The rise in overall acreage this year is also due to the steep hike of 50% in the minimum support price for moong for 2018-19. In Karnataka, the area under moong cultivation rose 16.2% on year to 423,000 ha.
Barley up in Jaipur on demand from poultry sector
Despite concerns over quality, barley prices were up in Jaipur because of strong demand from poultry feed sector. In Jaipur, the benchmark market, the coarse grain was sold at 1,570 rupees per 100 kg, up 10 rupees. Very low supplies in the market and demand from stockists also supported the grain. Prices are likely to rise further as stocks held by farmers are nearly over and new crop arrivals are likely to commence only from March. Arrivals were estimated at 1-2 bags (1 bag = 85 kg), compared with 2-3 bags.