Maize rises on uptick in demand.
Ram Gopal Yadav (6 years ago)

In thin trade, maize prices hardened by Rs 20 per quintal at the wholesale grains market due to pick up in demand from consuming industries. Mill demand from consuming industries led to rise in maize prices. In the national capital, maize rose by Rs 20 to Rs 1,360-1,365 per quintal.

Kharif output seen dipping marginally on erratic rain.
Ram Gopal Yadav (6 years ago)

NCML’s second advanced estimate for 2018-19 season sees production at136.75 million tonnes. The highly erratic monsoon and its obscure spread may reduce foodgrain output in the ongoing kharif season to 136.75 million tonnes (mt) — nearly 2.83 per cent lower than the 140.73 mt produced in 2017-18. The drop in overall kharif production is on expected lines despite a pick-up in the monsoon in July and August. While over 20 per cent of the country faced floods, half of the country’s 36 meteorological subdivisions are reeling under a rainfall deficit of over 10 per cent.

Wheat prices steady in Delhi.
Ram Gopal Yadav (6 years ago)

Prices of wheat in the key wholesale market of Delhi and Indore remained steady as there was adequate supply to meet the demand from flour mills. Wholesale price of mill quality wheat in Delhi and Indore was at 2,000 rupees per 100 kg. Subdued arrivals of the food grain from key producing states due to a lean season is seen supporting price of wheat in the coming days. Demand from bulk buyers is seen improving this month as the base rate for wheat auction under open market sale scheme will be higher in October at 1,925 rupees per 100 kg, against 1,900 rupees till September-end.

Ahead of the festival season, the government has released chana
Ram Gopal Yadav (6 years ago)

Ahead of the festival season, the government has released some stock of chana from buffer stock in the market to ease its availability and keep a check on the prices. Nafed sold 1100 MT of chana through auction in Andhra Pradesh and Telangana at Rs 4006 per quintal. Nafed may start selling chana in Andhra Pradesh, Telangana, Karnataka, Gujarat and UP from buffer stock. No benchmark price of chana has been fixed for auction. Chana stock with Nafed is around 27 lakh metric tonnes. According to the fourth advance estimates released by the government, India’s chana production estimate for 2017-18 is 11.23 million MT which is 18.97 per cent higher than 2016-17 final production estimates of 9.38 million MT. However, market participants are expecting production to be around 9 million MT. Moreover, imports of chana is not happening this year due to thirty per cent import duty. According to DGFT, India chana imports for 2017-18 is recorded at 9.81 lakh MT which is 9.19 per cent lower than the imports of 10.80 lakh tonnes for 2016-17.