Prices of chana fell in Delhi due to subdued demand from dal millers. In Delhi, the benchmark market, prices of chana were down by 50 rupees. However, arrivals of chana declined. Prices of chana are likely to increase in the coming days owing to sluggish sales of government-procured stocks.
USDA arm sees Myanmar 2018-19 pulses output down 14% at 3.8 mln tn
The US Department of Agriculture’s Foreign Agricultural Service sees Myanmar beans and pulses 2018-19 output down 14.2% on year at 3.8 mln tn. Output of the pulses in the country is estimated to decline as the Myanmar government has urged the farmers to reduce production of some pulses such as urad and tur and shift to other crops such as seed corn, soybeans, green gram, dry season rice and sesame. About 80-90% of the total tur production and 60-70% of urad is exported to India, and the domestic wholesale prices depends mostly on India’s demand. In March last year, India had imposed a 10% customs duty and in August imposed quantitative restriction of 200,000 tn on tur and 300,000 tn on urad and moong annually, to curb cheaper imports. The restrictive policy by the Indian government has led to a sharp drop in the exports of pulses from Myanmar.
Govt source says pulses buffer stock 1.2-1.3 mln tn.
Currently, buffer stocks of pulses are at 1.2-1.3 mln tn and the government has no plan to increase it to the 2.0-mln-tn limit in coming months. Buffer was created around three years back to safeguard consumers from the brunt of sharp spike in prices due to shortage in physical markets. As currently markets are well-supplied due to record production in last couple of years and due to hopes of bumper output this year, the government has no immediate plan to build a buffer to its limit of 2 mln tn in near future. At 1 mln tn, tur accounts for the maximum share in the buffer stock.
EU becoming a more significant importer of Russian soybean meal.
EU becoming a more significant importer of Russian soybean meal.
China’s soymeal futures fall 3 pct at open after U.S. invites China to talks.
China’s soymeal futures fall 3 pct at open after U.S. invites China to talks.
China’s interest in buying soyabean from Maharashtra to benefit farmers.
China’s interest in buying soyabean from Maharashtra to benefit farmers.
High arrivals, demand keep coriander steady in Kota.
High arrivals, demand keep coriander steady in Kota.
Cane acreage up 4.2% on year at 5.19 mln ha.
Cane acreage up 4.2% on year at 5.19 mln ha.
Down in Maharashtra on weak demand, steady in N India.
Down in Maharashtra on weak demand, steady in N India.
Govt expects rice procurement to touch 38 mln tn 2018-19.
Govt expects rice procurement to touch 38 mln tn 2018-19.
Soybean futures posted losses of 13 to 14 cents in the front months
Soybean futures posted losses of 13 to 14 cents in the front months
India soybean area up 6% on year at 11 mln ha.
India soybean area up 6% on year at 11 mln ha.
NCDEX soybean settles 1% higher on cues from CBOT.
NCDEX soybean settles 1% higher on cues from CBOT.
The Cabinet is set to approve 25% increase in the price for ethanol
The Cabinet is set to approve 25% increase in the price for ethanol
Export curbs Tomato prices crash in Maharashtra.
The suspension of trade via roads between Pakistan and India and the consequent supply glut has sent local tomato prices crashing. Wholesale prices have crashed to some Rs 2-3/kg at Pimpalgaon Baswant and Lasalgaon. Even top quality tomatoes are now being sold at just Rs 6-7 per kg. In Nashik district, the prices crashed to a third in just over a week. Pakistan used to import nearly 50,000 tonnes of tomatoes from India annually and Bangladesh up to 35000 tonnes. While political tension between India and Pakistan led to the suspension of exports via land to Pakistan, exports to Bangladesh are hit after Dhaka increased the import duty on agricultural produces to 48%.
Onion exports rise by 15% as global prices turn competitive for traders.
Onion exporters see shipments increasing by about 15per cent from a year ago with prices turning competitive in the international market on the back of a government incentive scheme and potential of good domestic production. After the government extended the Merchandise Export from India Scheme (MEIS) to onion growers, the freight-on-board (FOB) price of the Indian variety declined to $195/tonne (from $220 per tonne earlier), giving competition to the produce from China, where a good crop is seeing producers take advantage of high prices in neighbouring nations. The average price in the wholesale markets of Maharashtra is now around Rupee10/kg.
Barley prices rise in Jaipur as supply weak.
Prices of barley were up in Jaipur due to weak supplies and higher demand from domestic stockists and poultry feed sector. In Jaipur, the benchmark market, the coarse grain was sold at 1,590 rupees per 100 kg, up 10 rupees. Supplies are negligible as stocks held by farmers are almost over and new crop arrivals are likely to commence only from March.
India Spot maize a tad lower.
Prices of maize in Purnea, a key market in Bihar, eased by around 4 rupees from previous close to 1,321 rupees per 100 kg amid steady arrivals of around 2,000 tn. Spot price of the coarse grain eased after rising in the last few sessions on the back of good demand from poultry and starch sector. Expectation of higher maize production in Karnataka, a key growing state, weighed on prices. Karnataka has pegged its maize output for 2018-19 (Jul-Jun) at 3.53 mln tn, up 26% on year.
JAPAN TO RAISE IMPORTED WHEAT PRICES TO MILLERS BY 2.2 PCT.
Japan will sell imported wheat to domestic millers at an average price of 55,560 yen ($498) per tonne in October to March, up 2.2 percent from the previous six-month period. The move reflects higher wheat prices in its main suppliers and higher shipping rates due to oil prices.
Bulgaria Expects Wheat Crop of 5.4 Million Tonnes.
The expected wheat production this year is 5.4 million tonnes. There is enough bread wheat despite concerns. The industry has similar data – an average yield of about 4,600 kg/ha. Its quality is different – it is high in areas with no rainfall during the harvest, but in the rest pre-harvest sprouting is observed. Wheat prices are about 25% higher this year. On average, bread wheat is traded at BGN 354 a tonne compared to BGN 270 a tonne in 2017, while feed wheat is sold on average for BGN 318 a tonne compared to BGN 254 last year.