Area under rice in Telangana, one of the key producers in the country, increased on year due to a sharp rise in minimum support price to 1,750 rupees per 100 kg from 1,550 rupees. Rice acreage in the state in 2018-19 (Jul-Jun) was at 700,849 ha, up nearly 42% on year. Area under moong, however, dropped to 70,546 ha, down 18.8% on year, despite a rise in support price, but soybean acreage was 5.6% higher at 170,405 ha. However, area under cotton declined 3.9% on year to 1.7 mln ha due to the pink bollworm attack that created havoc in north India two years ago, and in Maharashtra and Telangana in the current cotton year that ends September. Acreage of turmeric increased to 46,217 ha, up 4.1% on year. Total sowing in Telangana in the ongoing kharif season touched 3.6 mln ha, again 3.4 mln ha a year ago.
Fall in arrivals lift mustard seed prices in Jaipur
Prices of mustard seed in Jaipur rose due to a decline in arrivals and improved demand from oil millers and crushers. In the benchmark market of Jaipur, mustard seed was sold at 4,350-4,375 rupees per 100 kg, up 20-25 rupees. Arrivals of mustard seed in Rajasthan were estimated at 70,000 bags (1 bag = 85 kg) today, down 10,000 bags. Limited sale of mustard seed by government agencies in the local market also led to positive sentiment.
Tur dn in Kalaburagi as rains pick up, flat in Akola.
Prices of tur in Kalaburagi, a key market, fell because a pick-up in rains in the key growing regions of Karnataka eased worries of lower yield in the state. In Kalaburagi, prices of tur were down 25 rupees at 3,750-3,925 rupees per 100 kg. Sale of the commodity by the government also contributed to the bearish sentiment. In Akola, the benchmark market for tur, prices of the commodity were unchanged at 3,800-3,850 rupees per 100 kg.
Chana prices up in Delhi on demand from dal millers.
Chana prices in Delhi rose because of improved demand from dal millers. In Delhi, the benchmark market, chana was sold at 4,450 rupees per 100 kg, up 20-25 rupees. Arrivals of chana in Delhi were unchanged at 750 tn. Expectation of higher export demand from Bangladesh and Dubai are seen supporting prices. September contract of chana on NCDEX was up 48 rupees at 4,379 rupees per 100 kg.
Barley prices up in Jaipur on negligible supplies.
Prices of barley rose in Jaipur due to negligible supplies of the grain in the market, and owing to improved demand from domestic stockists and poultry feed sectors. In the benchmark market of Jaipur, barley was sold at 1,440 rupees per 100 kg, up 30 rupees. Arrivals were estimated at 5-10 bags (1 bag = 85 kg), as compared to 200-300 bags. Arrivals have slumped as farmers have liquidated most of their stocks. Subdued demand from malt industries following concern over quality of the domestic stocks capped gains in prices.
79,180 hectares of agri-land damaged due to Vietnam flash floods
The recent floods in Vietnam have impacted large areas of agricultural land and cost the agriculture sector around 127 billion kips. The exact areas of crop damage are yet to be accessed by the authorities concerned who are waiting for the water levels to recede. The floods struck almost about 79,180 hectares of wet season rice and expected to damage at least 23,400 hectares. The Khammuan province experienced the worst water levels with damage estimated to about 45 percent of the total 80,773 hectares of rice planted followed by Savannakhet province with a damage expectation of around 14 percent of the total 196,275 hectares and Champassak province with 9 percent of the total 106,563 hectares. Pests and landslides too contributed to the destruction of the paddy.
Turkey imposes up to 140% tax on rice from US
Turkey took its boldest steps yet to try to ward off a financial crisis by making it harder for traders to bet against the battered lira and easing rules on restructuring troubled loans that have already topped $20 billion. Turkey imposing taxes of ranging from 50 to 140% on rice, alcohol and cars from the U.S.
India Rice central pool stock up from last month.
India’s rice stocks in the central pool as on Aug- 1, 2018 stood at around 24.94 million tons up by 5.23% from23.70 million tons recorded during the corresponding period last year, according to data from the Food Corporation of India (FCI). India’s rice stocks in the central pool are up by 5.23% by from 23.25 million tons recorded on July-01, 2018. Highest stock could be seen in the state of Punjab (80.61 lakh tons) followed by Andhra Pradesh (19.58 lakh tons) and Haryana (17.16 lakh tons) and Uttar Pradesh (14.48 Lakh Tons). The higheststock recorded of 339.6lakh tons recordedin Feb-2018.
Haryana makes straw management system mandatory for harvesting paddy
Haryana Pollution Control Board has made it mandatory for farmers in the state to attach ‘super straw management system’ with their combine harvesters while harvesting paddy. The attachment of the straw management system with the self-propelled combine harvesters in the state would contain the “cause of air pollution arising from the burning of paddy straws by the farmers in open field. Typically, farmers in Punjab and Haryana use only combine harvesters for kharif paddy, which leaves stubble over a foot high. Harvesting this stubble manually is labour-intensive and time-consuming, leading farmers to resort to burning the residue. Burning of stubble from the harvested crop leads to severe smog in parts of north India, especially Delhi
Wheat futures ended session with most contracts 9 to 13 cents lower, with MPLS the weakest
Rains over the last 24-hours are helping to build up soil moisture ahead of winter wheat planting. Estimates are running 200,000-500,000 MT for 18/19 all wheat export sales in the week that ended on August 9. US SRW FOB prices are now below Russia, though they do benefit from cheaper freight prices into the eastern Mediterranean.
Jordan continues buying streak as it picks up more wheat
Jordan’s state grains buyer JSSGC continued its three-week wheat buying spree as it picked up 60,000 mt of milling wheat.
Wheat fell in price USD 249.76/MT C&F in Egypt tender
Egypt purchased 420 KMT of milling wheat from Russia & Romania to be delivered on September 21 – 30 and October 1-10, 2018 at an average price of USD 249.76/MT C&F. The price in the previous tender equaled USD 253.31/MT C&F.
Ukraine exported a total of 959,960 tonnes of wheat in July
Asian and Middle East countries were the leading buyers of Ukrainian wheat in July, the first month of the new 2018/19 season. Ukraine is among the world’s major wheat exporters and sold a total of 17.2 million tonnes of wheat abroad in the previous 2017/18 season. n July, Ukraine exported a total of 959,960 tonnes of wheat. The data showed that Ukraine exported 103,973 tonnes of wheat to Israel, the leading importer of Ukrainian wheat last month. It also exported 90,650 tonnes of wheat to Philippines, 74,957 tonnes to Egypt and 63,070 to Italy.
US Wheat harvest starts, yields could be record-setting
The wheat harvest has started and it could be a record year for North Dakota farmers. Rain in June, the heat in July and warm weather recently are contributing to a great yield. It’s allowing farmers to get out into the fields and start harvesting the more than 7 million acres of wheat planted this spring.
Bangladesh to increase wheat imports 10% in 2018/19
Bangladesh will import around 6.5 million mt of wheat in the next marketing year.
Demand seen returning to Russian wheat at $225/mt
Deep sea port Russian 12.5% protein wheat market participants expect buyers to return to the market at $225/mt as market prices fall in an attempt to tempt buyers back. Destination demand has slowed considerably in the last few weeks as buyers balked at surging costs, preferring to dip into their stockpiles. The softer fundamentals were also reflected by S&P Global Platts 12.5% protein wheat assessment. Prompt-loading was assessed at $228.25/mt, down $6 on the week but still clinging onto its 41-month high.
Moong acreage up 6% on year at 3.2 mln ha.
Indias moong acreage was at 3.21 mln ha, up 6.1% on year, led by a rise in the area in Rajasthan and Karnataka. In Rajasthan, the largest grower, the area under the crop jumped 20.1% on year to 1.86 mln ha. Initial rainfall in the state has been good, which has boosted sowing. However, the state has recorded below-normal rainfall during Jun 1-Aug 12. The rise in overall acreage this year is also due to the government announcing a steep hike of 50% in the minimum support price for 2018-19. However, the acreage was down in some states as farmers have sown more paddy, cotton and soybean.
Urad acreage down 12% YoY at 3.5 mln ha.
Farmers in the country have sown urad across 3.5 mln ha so far this kharif season down 12.0% from a year ago. In Madhya Pradesh, the largest grower of urad, the acreage was down 15.2% on year at 1.46 mln ha as farmers have shifted to paddy. This year, rainfall has been good and prices of paddy are attractive. There was loss of urad crop last year due to wilt disease, which also made farmers cautious about the crop this year.
Kharif tur area dn 0.2% on yr at 4.2 mln ha.
Indias tur acreage was down 0.2% on year at 4.2 mln ha. Area in Maharashtra, the largest producer, fell by 4.4% to 1.2 mln ha due to erratic rainfall. In Madhya Pradesh, another major grower of pulses, tur area was down 1.6% at 625,000 ha. Farmers have shifted to soybean and paddy from pulses this year in Madhya Pradesh due to expectation of better returns from these crops. However, in Karnataka, the acreage has been higher due to good rainfall this year in the state. Area under tur in Karnataka was up 16.8% on year at 947,000 ha.
Moong drops below MSP even as arrivals begin in north Karnataka.
As the new kharif moong (green gram) hits the markets in North Karnataka, prices of the pulses crop are trading lower at around 5,100 a quintal, much lower than the minimum support price of ?6,975 announced by the Centre. In fact, the prevailing prices in the State are also lower than last year’s support price of 5,575/quintal, growers said, while demanding that the government spell out the procurement strategy for the season and begin purchasing from the markets.