The Maharashtra government has sent 50 tn tur dal to Kerala which is witnessing the worst floods in a century that have left hundreds dead. State agriculture minister Chandrakant Patil flagged off the Netravati Express carrying the pulse. Other pulses, rice, cereals, dry fruits, and biscuits have also been sent to the flood-hit state.
Corn futures are currently 1 to 2 cents higher after settling 5 to 5 cents lower
Some bulls were giving up, with preliminary open interest -13312 contracts on the day. The bulk of that was in September, with options expired and FND on Friday. NASS showed 68% of the corn in good or excellent condition, while the Brugler500 Index was up 1 point to 373. The big acreage states showed slight improvements in ratings last week. Overall ratings typically decline a notch or two each week in August. A Farm Futures survey of producers shows expected 2019 acreage of 90.8 million acres. That is up more than 1.7 million acres from 2018, but those intentions will likely change over the next 7-8 months.
Kharif tur area unchanged on yr at 4.38 mln ha
India’s tur acreage was at 4.38 mln ha, largely unchanged from the previous year. Although area under tur fell by 4.2% on year in Maharashtra, the largest producer, and was 3.4% lower in Madhya Pradesh, another major grower of pulses, a rise in acreage under the pulse in the southern state of Karnataka has compensated for the loss. Area under tur in Karnataka as of Wednesday was up 16.5% on year at 966,000 ha as the state received good rainfall.
Kharif paddy area tad dn on yr at 35.7 mln ha
Acreage under paddy crop across the country this kharif season was at 35.7 mln ha. The area under paddy was, however, higher than the average 35.4 mln ha for the period. Also, the lag in acreage has reduced from 3% a fortnight ago. The slight fall in acreage can be attributed to lower sowing in key producing states of Assam, Bihar and Jharkhand, where weak monsoon rains hit planting. Paddy is a water-intensive crop and requires bountiful rains during sowing and transplantation of saplings from nursery to the fields. Paddy sowing was also lower on year in Punjab at 3.04 mln ha.
IGC cuts 2018-19 global wheat output view by 16 mln tn to 721 mln tn.
The International Grains Council has lowered its estimate for global wheat production for 2018-19 to 721.0 mln tn from 736.8 mln tn seen in its previous report. A record 758.1 mln tn wheat was produced globally in 2017-18. The forecast for 2018-19 has been slashed mainly because output in Russia, Ukraine, China, European Union and Australia is seen falling. Unfavourable weather conditions in key wheat growing regions of the world is expected to lead to a decline in output. Following a reduction in output projection, global wheat inventory in 2018-19 is also seen down at 247.2 mln tn from 255.6 mln tn forecast earlier. The agency has slashed its estimate for global wheat imports in 2018-19 marginally to 176.0 mln tn from 176.5 mln tn seen earlier. India’s wheat imports in 2018-19 are seen at 900,000 tn, unchanged from the projection made in July. It also maintained the country’s wheat output estimate for 2018-19 at 95.5 mln tn. The agency had estimated the country’s wheat production in 2017-18 at 98.5 mln tn.
Source says FCI sold 95,450 tn of wheat in 5th open mkt sale of FY19
Food Corp of India sold 95,450 tn of wheat in the fifth round of auctions under the open market sales scheme for 2018-19 (Apr-Mar). The state-run agency had offered 2.2 mln tn of the food grain in the auction. Food Corp of India holds auction of wheat for sale under the open market sale scheme, where bulk buyers like flour mills, bakery product manufacturing companies usually purchase. In Punjab and Haryana, most of the quantity was sold at 1,900 rupees per 100 kg in. In Madhya Pradesh, it was sold at 1,912 rupees. In Punjab, Haryana and Madhya Pradesh, response to the wheat auction has higher from the last round of tenders. The agency had sold 95,150 tn of wheat in the fourth round of auctions that was held on Aug 9.
Potato arrivals tad down in Delhi but prices steady.
Prices of potato in Delhi remained unchanged as a likely gain from lower arrivals was negated by lower demand for the commodity. In Delhi, arrivals were pegged at 138 trucks, each carrying 15-20 tn of the commodity, down 2 trucks. Prices were steady at 1,560-1,650 rupees per 100 kg.
Onion prices flat in Pimpalgaon despite low supply.
Prices of onion remained unchanged in the key market of Pimpalgaon, Maharashtra, as gains due to a fall in arrivals were negated by subdued demand from stockists. In Pimpalgaon, arrivals were pegged at 950-1,000 trucks, each carrying 15-20 tn of onion, down from 1,345 trucks.
Madhya Pradesh to disburse 4.8 bln rupees to onion, garlic growers
The Madhya Pradesh government may soon disburse 4.8 bln rupees to farmers for onion and garlic procured under the market intervention scheme during the rabi season. Of 10 bln rupees approved as aid for onion and garlic farmers, 4.8 bln rupees would be given in the first phase shortly. Rest would be disbursed in the next phase. State agencies have procured around 873,000 tn of onion and garlic from 180,000 farmers under the scheme. Onion was procured at 1,200 rupees per 100 kg, including an incentive of 400 rupees per 100 kg. Madhya Pradesh government had fixed 800 rupees per 100 kg as protective prices for both vegetables. The move followed fall in spot market prices because of higher production and lower offtake by traders and food processing factories. Onion was sold at 500-550 rupees per 100 kg in key market of Indore when the crop hit the market in full swing in May-June and garlic was sold at 200-300 rupees per 100 kg during same period.
Madhya Pradesh to sell 18,000 tn poor quality pulses.
The Madhya Pradesh government will sell 18,000 tn poor and non-fair average quality of chana, masur, and mustard procured in May-Jun. The government is selling the commodity to pay farmers the minimum support price in full. The government was unable to pay the farmers as agencies procured some of the commodities which were of non-fair average quality and were also damaged. The government has, therefore, ordered to auction these pulses and oilseeds and release the pending dues to the farmers latest by Aug 27 into their bank accounts. The total quantity of chana, masur, and mustard procured by the government in 2018-19 is 1.97 mln tn.
Tur prices down in Kalaburagi on poor demand.
Prices of tur fell in Kalaburagi due to poor demand from millers and as worries of lower yield in Karnataka eased following a pick up in rains. In Kalaburagi, prices of tur were down 25-50 rupees at 3,700-3,900 rupees per 100 kg. In Akola, prices of the commodity were unchanged at 3,700 rupees per 100 kg. Arrivals in the market were unchanged at 500-600 bags (1 bag = 100 kg).
Delhi chana up on low arrival, likely rise in demand
Prices of chana rose today due to a fall in arrivals amid expectation of a rise in demand ahead of festival season. In Delhi, the benchmark market, chana was sold at 4,425 rupees per 100 kg, up 50-70 rupees. Arrivals of chana in Delhi were estimated at 375 tn. In Indore, a key market in Madhya Pradesh, prices were unchanged .
Govt urges Saudi Arabia to ease norms for import of Indian basmati.
The government has initiated talks with officials from Saudi Arabia for relaxing the latters residual norms for import of basmati rice from India. Indias basmati exports to Saudi Arabia have taken a hit since June, when the West Asian country started following stringent maximum residual limit norms on the lines of European nations. In 2017-18 (Apr-Mar), India exported 792,480 tn of basmati to Saudi Arabia, against 809,343 tn in the preceding year. Indias total export of basmati in 2017-18 was 4.06 mln tn, up 1.8% from a year ago. Implementation of strict import norms for rice has added to pressure on the Indian industry, which is already battling with a halt in purchases from the European Union. Indias basmati exports to EU were suspended after the union reduced the permissible limit of tricyclazole residue in imported rice to 0.01 part per mln from 1 part per mln, effective Jan 1.
The agency has retained masur and peas prices of the previous forecast
Peas prices are estimated at $220-$250 per tn in 2018-19 while masur prices are seen at $420-$450 per tn. Prices of peas and masur in Canada are, however, seen down from last year. In 2017-18, peas prices were at $265 per tn and masur were at $475 per tn. Peas prices are forecast to be lower from the previous year because of higher supplies and lower exports. Supply of peas is estimated at 4.1 mln tn and exports are seen at 2.8 mln tn. Despite a fall in the masur output, prices are likely to fall this year due to expectation of higher supply.
Canada 2018-19 chana prices seen dn 23% from Jul view on high supply
Canada’s farm agency has said the average domestic prices of chana for 2018-19 is likely to be at $475-$505 per tn, down 23% from July estimate. In its August report, Agriculture and Agri-Food of Canada said the prices are likely to fall because of an expectation of a rise in supply. Chana or chickpeas output in Canada in 2018-19 is estimated higher at 335,000 tn compared with 92,000 tn in the previous year.
Canada’s farm agency has retained masur and peas prices of the previous forecast
Peas prices are estimated at $220-$250 per tn in 2018-19 while masur prices are seen at $420-$450 per tn. Prices of peas and masur in Canada are, however, seen down from last year. In 2017-18, peas prices were at $265 per tn and masur were at $475 per tn. Peas prices are forecast to be lower from the previous year because of higher supplies and lower exports. Supply of peas is estimated at 4.1 mln tn and exports are seen at 2.8 mln tn. Despite a fall in the masur output, prices are likely to fall this year due to expectation of higher supply.
India Apr-Jun pulses export up 115% on year at 100,982 tn
Export of pulses from the country jumped over two-fold on year to 100,982 tn in Apr-Jun primarily due to improved demand from overseas buyers. Improved demand from the neighboring countries particularly Bangladesh is likely to have led to the surge in the export of the pulses. Guar gum exports were down 6.8% on year to 134,790 tn in the first three months of the current financial year due to a fall in demand.
Rise in arrival weighs on chana prices in Delhi.
Prices of chana were down in Delhi due to a rise in arrivals amid sluggish demand from dal millers and stockists. Expectation of higher export demand from Bangladesh and Dubai are seen supporting prices.
India Apr-Jun pulses export up 115% on year at 100,982 tn.
Export of pulses from the country jumped over two-fold on year to 100,982 tn in Apr-Jun primarily due to improved demand from overseas buyers. Improved demand from the neighboring countries particularly Bangladesh is likely to have led to the surge in the export of the pulses. Guar gum exports were down 6.8% on year to 134,790 tn in the first three months of the current financial year due to a fall in demand.
NCDEX barley down on subdued demand from malt sector.
Futures contracts of barley fell on the NCDEX due to subdued demand from the malt industry following concerns over quality of the domestic stocks. On NCDEX, the most active September contract was down 0.9% at 1,640 rupees per 100 kg. Talks of imports of the grain from Argentina is also creating bearishness in the market.