After fixing the import limits by the Indian government, the largest pulses importer in India, Myanmar pulses Industry of $ 1 billion is in danger. According to sources, the Myanmar Agri Ministry has informed the Indian Embassy there on what the Indian government can do to protect the losses incurred by Myanmar farmers. Significantly, 80 percent of pulses production of Myanmar is exported to India. Sources reveal that in the first week of September, Prime Minister Shri Narendra Modi is visit Myanmar, there is a discussion in this regard. It is worth mentioning that a special team from Tanzania came to India a few days ago to discuss this topic.
NCDEX soybean down 1% on adequate monsoon rains.
Futures contracts of soybean fell over 1% due to adequate rains in the key growing areas of the commodity. The most-active October contract on NCDEX traded down 1.7% from previous close. Adequate rainfall on Sunday in the key growing areas of Madhya Pradesh, Maharashtra and Rajasthan is likely to benefit the soybean crop. Weakness in the soybean contract on CBOT also weighed on domestic futures.
NAFED procures 94 tonne sunflower seed in Odisha.
The National Agricultural Cooperative Marketing Federation of India has procured 94 tonne of sunflower seed under the price support scheme in Odisha. The procurement drive, which started in late July, is underway in Eram district and 152 farmers have sold their crop to the agency. NAFED started procuring the crop from growers as market prices fell below the minimum support price of 3,950 rupees per 100 kg, inclusive of a bonus of 100 rupees. The agency has wound up procurement of the oilseed in Haryana and Telangana.
India Sugar down in north India due to trade halt in Punjab, Haryana.
Prices of sugar rose in the key wholesale markets of Mumbai due to an increase in demand as Maharashtra markets opened after a three-day holiday. Prices of the sweetener, however, fell in the key wholesale markets of Delhi as demand was hit due to police blockades set up in Punjab and Haryana to quell unrest ahead of the announcement of the sentence against self-styled godman Gurmeet Ram Rahim.
Increase in acreage of cotton but lack of rains in the growing period of crop may affect yields.
Increase in acreage of cotton but lack of rains in the growing period of crop may affect yields.
China offered to sell 1.2 MMT of corn in auction of state reserves on 25 august.
China offered to sell 1.2 MMT of corn in auction of state reserves on 25 august.
Corn ticks up from more than 7-month low.
Corn ticks up from more than 7-month low.
Floods destroy 90,000 acres of paddy field in Myanmar.
Floods destroy 90,000 acres of paddy field in Myanmar.
Water crisis on Punjab not getting Basmati price.
Water crisis on Punjab not getting Basmati price.
Egypt’s wheat trade hangs in balance as Romanian cargo in review.
Egypt’s wheat trade hangs in balance as Romanian cargo in review.
Global pressure drives UK wheat prices down following increased expectations.
Global pressure drives UK wheat prices down following increased expectations.
CBOT wheat edged higher, extending gains into a fourth consecutive session.
CBOT wheat edged higher, extending gains into a fourth consecutive session.
Russia harvested 62.2 MMT wheat vs 58.9 MMT LY as on 24 august.
Russia harvested 62.2 MMT wheat vs 58.9 MMT LY as on 24 august.
Coriander rise on fall in supply in Delhi.
Coriander rise on fall in supply in Delhi.
Ukraine early cereals and pulses harvest is over.
In Ukraine, early cereals and pulses were harvested from 9639 Th hectares (100%). Farmers gathered 37224 KMT with an average yield of 3.86 MT/hectares against 37948 KMT with an average yield of 3.94 MT/hectares as of August 22, 2016. Farmers got 1095 KMT of peas from 410 Th hectares with an average yield of 2.67 MT/ha. As of August 22, 2016, these figures equaled 763 KMT, 237 Th hectares and 3.22 MT/ha, respectively.
Australia to help India become a pulses-processing hub.
Australia is learnt to be exploring ways to help India transform into a pulses-processing hub. Towards this objective, the Australian government and that country agri-business companies hold talks with the Government of India and Indian companies including those into processing, retail and imports of pulses, on the sidelines of the Australia Business Week in India (ABWI). The ABWI is slated to be held from August 28 to September 1 with an aim to promote Australian capability and expand Australia trade, investment and education relationships.
Delhi Gram, masoor move up on scattered demand.
Gram and masoor prices firmed up by Rs 100 per quintal at the wholesale market on mild demand from retailers. However, other pulses moved in a narrow range in limited deals and pegged at last levels. Uptick in demand from retailers mainly led to rise in gram and masoor prices.
India Pulses end steady in tight movements.
There was not much activity at the wholesale market as prices by and large moved in a narrow range on alternate bouts of trading and pegged at last levels. Adequate stocks position against sporadic demand mainly kept pulses prices steady.
Ukraine exported 124.3 KMT of rapeseed.
Ukraine exported 124.3 KMT of rapeseed in the first month of the new 2017/18 season, or twice as much as in July 2016 (61.3 KMT). Such an active start of export sales is observed for the first time in the last three seasons. European countries continued to be the key buyers of Ukrainian rapeseed in July 2016/17 (66% of total exports). Among them, the greatest volumes were shipped to Germany and Portugal. This year rapeseed crops up at 2.1-2.2 MMT that enable Ukraine to raise its export potential by almost 60% against last year.
Malaysia, Indonesia Plans to Export Palm Oil to China.
Malaysia and Indonesia discuss plans to export crude palm oil (CPO) for biodiesel to China. The two countries discussing the plan to export CPO to China. The latter is seeking to adopt 5% biodiesel blended with petroleum diesel (B5) program. China is eyeing biodiesel as it increases environmental control. The implementation of the B5 program would create a large CPO market. Therefore, Indonesia and Malaysia ought to cooperate to meet China demand. Malaysia wishes to expand biodiesel market to other countries, such as India and the Philippines.