Soybean acreage 9.9 million ha as of Thu, down 10% on year.
Ram Gopal Yadav (8 years ago)

Acreage under soybean across the country was at 9.9 million ha as of Thursday, down 10.4% from the year-ago period. Sowing under soybean fell this year following a decline in acreage in Madhya Pradesh, the largest soybean-producing state, due to poor rains in the last fortnight. In Madhya Pradesh, acreage of the crop was at 4.71 million ha, down from 5.36 million ha in the previous year. The area under soybean in the state is lower so far because farmers chose to sow other remunerative crops such as cotton, urad, and moong, as soybean fetched poor returns in 2016-17.

Soybean contracts up on NCDEX tracking CBOT.
Ram Gopal Yadav (8 years ago)

Futures contracts of soybean traded up on the NCDEX tracking the CBOT. The most-active August contract traded up 1.5% from the previous close. Contracts of soybean rose on the CBOT due to short covering by market participants after prices fell last week. Bargain buying by domestic oil millers and crushers after a recent fall in prices also supported contracts of soybean on the NCDEX.

Tamil Nadu seeks Centre help to source sugar from UP.
Ram Gopal Yadav (8 years ago)

Tamil Nadu sugar mills want 600,000 tonnes from mills in Uttar Pradesh for supply in the coming season but want central government help on the transport cost. Sugar output in Tamil Nadu has been declining for some years. With the deficient rain this season for the fourth year in a row, mills in Tamil Nadu are estimating only 550,000 or 650,000 tonnes of output for 2017-18, as against 2.4 million tonnes in 2011-12. In sugar season 2016-17, the state reported output at 1.05 MT, almost equivalent to its annual consumption. The UP mills agreed, but were uncomfortable with the transportation cost of Rs 3-3.5 a kg. Mills in Tamil Nadu cannot take this burden; it would inflate prices in the state. Therefore, seek involvement of Isma.

India sugar tad up in Delhi on demand from northeast; flat in west.
Ram Gopal Yadav (8 years ago)

Prices of sugar remained largely flat across markets barring north India, where prices inched up due to improved demand from north-eastern states. Most of the demand is coming from north-eastern states as markets in the western region were largely shut due to Raksha Bandhan festival and Lunar eclipse, which is considered inauspicious among traders. Government warning of re-imposing stock limits if prices rise further seems to have kept traders cautious and away from aggressive trade.

Govt may allow 300,000-500,000 tonne sugar import at 25% duty.
Ram Gopal Yadav (8 years ago)

The government is likely to allow import of 300,000-500,000 tonne sugar at a concessional import duty of 25% to augment supply during the upcoming festival season. The proposal to this effect (allowing import at 25% import duty) might be put up to the Cabinet for approval later this week. Government was planning to tweak the conditions of advance licence scheme giving more time to sugar mills and refineries to fulfil the obligation of re-exports.