India is likely to sell about 1 million tonnes of pulses domestically to avoid its stockpiles rotting in warehouses. The government is attempting to sell the reserves in the open market and to some states and organizations such as railways and defence forces.
NAFED to auction 6,353 tonne urad via NCDEX e-Markets.
The National Agricultural Cooperative Marketing Federation of India has offered 6,353 tonne of urad for auction through NCDEX e-Markets. The pulse is stocked at Central Warehousing Corp and other godowns in Uttar Pradesh, Tamil Nadu, Andhra Pradesh, Gujarat, and Maharashtra.
NCDEX chana up 1% tracking spot gains.
The chana contracts on NCDEX were up over 1% tracking gains in the local market. The most-active chana November contract was up 1.1% from the previous close.
MCX CPO futures extend gains on festival demand.
Futures contracts of crude palm oil extended gains for the second straight day on the MCX due to demand for the tropical oil ahead of Diwali. Gains in soyoil contracts on the CBOT too supported crude palm oil prices on the domestic bourse. The most-active October contract of crude palm oil on MCX was up 0.5% from the previous close.
SOPA pegs 2017-18 soybean crop at 9.15 million tonne, down 20% YoY.
The Soybean Processors Association of India has estimated 2017-18 (Oct-Sep) soybean output at 9.15 million tonne, down from 11.49 million tonne a year ago. Soybean production fell in the country primarily because of a decline in yield and low acreage in key growing states of Madhya Pradesh and Maharashtra. The association pegged the yield in Madhya Pradesh this year at 905 kg per ha, down from 1,058 kg per ha a year ago. In Maharashtra, the yield was seen at 925 kg per ha against 1,102 kg per ha in the previous year. The oilseed’s production in Madhya Pradesh was estimated at 4.54 million tonne, down from 5.72 million tonne a year ago. Soybean crop in Maharashtra was pegged at 3.19 million tonne compared with 3.95 million tonne last year.
NAFED kicks off procurement of 2017-18 soybean in Rajasthan.
From Saturday, the National Agricultural Cooperative Marketing Federation of India started procuring soybean sown during the 2017-18 (Jul-Jun) kharif season in Rajasthan. The procurement is being carried out at 13 centers in Kota, Jhalawar, Bundi and Baran districts under the price support scheme.
Rajasthan groundnut farmers warned against termites.
IMD Agrimet division has advised farmers in Rajasthan to control infestation of termites in the standing kharif groundnut crop. Incidents of termite attack on the groundnut crop have been reported in some areas of the state. Farmers are advised to irrigate the fields after spraying pesticides on the crop.
Maharashtra plans to procure soybean from Oct 18 via NAFED.
After moong and urad, the Maharashtra government plans to procure soybean from farmers in the state. The procurement will be through National Agricultural Cooperative Marketing Federation of India from Oct 18. Currently, prices of the commodity are below the minimum support price of 3,050 rupees per 100 kg, including a bonus of 200 rupees. The state government proposes to procure 350,000 tonne of the oilseed through around 125 centres across 23 districts.
India Soybean ends over 2% down, CPO up on Malaysian cues.
Futures contracts of key components of the edible oil basket traded mixed, with soybean and mustard ending lower and refined soyoil and crude palm oil trading higher on domestic exchanges. After hitting a three-month low of 2,841 rupees per 100 kg during the day, futures contracts of soybean on the National Commodity and Derivatives Exchange closed 2.2% lower due to higher supply of the new crop in Madhya Pradesh and Maharashtra.
USDA arm sees ’17-18 EU sugar output at 20.1 million tonne.
USDA Europe Union bureau expects sugar output in the region rising to 20.1 million tonne in 2017-18 from 16.5 million tonne produced in 2016-17. The estimate is also higher than USDA’s official estimate of 18.6 million tonne. USDA’s EU bureau has also estimated exports from the region higher on year at 2.5 million tonne. The expectations of a rise in sugar production in EU and export quantities can be attributed to the abolition of output quota in September.
Rabobank warns on EU sugar prices, as it lifts forecast for world supplies.
Rabobank raised its forecast for the world sugar output surplus in the newly-started season. The bank raised to 4.5m tonnes, from 2.7m tonnes, its estimate for the world production surplus in 2017-18, which began at the start of this month. The revision reflected in part improved expectations for output in Brazil, where the bank quoted an assessment from Unica, the cane industry group, that output in the key Centre South region is now projected to exceed last season’s 35.6m tonnes. Initially, Unica had forecast output of 35.2m tonnes from the Centre South, which is responsible for more than 90% of Brazil’s total sugar output.
Dwarikesh Sugar expects sales to rise up to 15 percent on higher crushing.
Dwarikesh Sugar Industries Ltd expects sales to rise by up to 15 percent in the 2017/18 crop year as production in Uttar Pradesh could jump to a record high. The state’s output could jump 14 percent from a year earlier to a record 10 million tonnes. Dwarikesh Sugar produced 330,000 tonnes of the sweetener in the 2016/17 crop year that ended on Sept. 30.
India Sugar prices up in Mumbai on festival demand, down in Kolhapur.
Prices of sugar rose in the key wholesale markets of Mumbai as demand improved ahead of the festival of Diwali. The rise in prices of the sweetener in Mumbai can also be attributed to the increase in transportation charges due to lack of vehicles. There are no return goods available from Mumbai, unlike other cities. So, the trucks and lorries which bring sugar from Kolhapur prefer cities like Hyderabad.
Cotton Outlook sees 2017-18 US output at 10-year high of 4.5 MMT.
Cotton Outlook sees 2017-18 US output at 10-year high of 4.5 MMT.
Karnataka growers disagree with Coffee Board estimate of bumper crop .
Karnataka growers disagree with Coffee Board estimate of bumper crop .
NCDEX coriander dn 1% on weak export, high supplies.
NCDEX coriander dn 1% on weak export, high supplies.
India Farm secy says may review wheat import duty after Oct 15.
India Farm secy says may review wheat import duty after Oct 15.
U.S. plains HRW wheat steady; rains slow planting.
U.S. plains HRW wheat steady; rains slow planting.
Gujarat farmers asked IMD to begin wheat sowing.
Gujarat farmers asked IMD to begin wheat sowing.
Wheat prices fall in Indore due to poor demand.
Wheat prices fall in Indore due to poor demand.