2016-17 end soybean stock seen up at record 1.8 million tonne.
Ram Gopal Yadav (9 years ago)

India soybean stocks would be at a record high of 1.75 million tonne when the current marketing season ends on Sep 30 because of a bumper output. Stocks are seen rising more than four-fold from 2015-16 (Oct-Sep). All the 13 participants polled rise estimated higher year-on-year ending stocks. Estimates for the season-ending stocks for 2016-17 ranged between 1.0 million and 3.0 million tonne, while those for 2015-16 were in the range of 0.2-1.0 million tonne. Indian farmers harvested 11.49 million tonne of soybean in 2016-17, up from 6.93 million tonne harvested in the previous year. Carryover stocks (for 2017-18) of the oilseed is estimated higher because of a record crop last year and good beginning stocks.

Spot raw sugar futures on ICE settle down on dry Brazil weather.
Ram Gopal Yadav (9 years ago)

October raw sugar settled down 0.06 cent, or 0.4 percent, at 14.27 cents per lb. Some commercial longs are rolling their positions into the March contract. There probably some March and May price fixing going on, too. The premium for white over raw sugar – a measure of the profitability of refining – has recovered only slightly after falling to its weakest in 2-1/2 years this week in the run-up to an expected large harvest in the EU. ICE October white sugar was up $5.70, or 1.5 percent, at $374.70 a tonne.

India Sugar down in north India on poor demand, unchanged in Maharashtra.
Ram Gopal Yadav (9 years ago)

Prices of sugar continued to fall in the key wholesale markets of north India on account of sluggish demand from bulk buyers. Demand for the sweetener has been poor since the beginning of September. There is no demand at all. Production in Uttar Pradesh is also seen higher, so no one can stop prices from falling further. In the key wholesale markets of Maharashtra, however, prices remained largely unchanged due to lacklustre trade. Traders have a bearish view on sugar prices for the short as well as the long term.

Shree Renuka Sugars gets 20.2% of total quota for raw sugar import.
Ram Gopal Yadav (9 years ago)

Shree Renuka Sugars Ltd has been allowed to import 60,658 tonne or 20.2% of raw sugar under the quota to import at a concessional rate by the Directorate General of Foreign Trade. EID Parry India Ltd has been allocated 46,556 tonne or 15.5% of the total quota. The government took into account monthly refining capacity of mills, quantity applied, and the number of applications while considering the applications for raw sugar import.

Jaipur mustard seed down as high prices hit demand.
Ram Gopal Yadav (9 years ago)

Mustard seed prices were down in Jaipur, due to subdued demand after a recent surge in prices. A rise in arrivals also weighed on mustard seed prices. Export demand for mustard meal, however, cushioned the fall in mustard seed prices.