Indias maize acreage was 1.6% higher at 7.3 mln ha as of Thursday from the year-ago period. Acreage in the country was also 1.4% higher as compared with the normal area of 7.14 mln ha, which is based on the average of the past five years. Higher planting in Madhya Pradesh, Karnataka and Rajasthan has offset the decline in other key growing states of Maharashtra, Bihar and Telangana. Announcement of higher minimum support price for maize by the government in July also encouraged farmers to bring more area under the crop. The Centre hiked the minimum support price for maize to 1,700 rupees per 100 kg for kharif marketing year (Oct-Sep) from 1,425 rupees in the previous year. Acreage was still down in some states because of subdued monsoon rains. India received 457.3 mm of rainfall during Jun-Jul, 10% below the normal weighted average of 508.5 mm for the period.
India Apr-May tur import 16,000 tn, sharply down from 97,000 tn YoY.
Tur imports during Apr-May plunged to 16,000 tn, a sixth of 97,000 tn that was shipped in the year ago period. The sharp 84% on-year decline in imports was largely due to a slew of government measures.
India kharif area at 85.5 mln ha, down 1.7% on year.
According to the data, paddy, a major kharif crop, was sown across 26.3 mln ha, down from 27.4 mln ha a year ago. Subdued rains and delay in arrival of the monsoon in some states have hit sowing in a few regions this year. In the ongoing southwest monsoon season so far, the country has received 442.3 mm of rainfall, against the normal weighted average of 481.3 mm for the period.
Chana prices down in Delhi, Bikaner on lower demand.
Chana prices fell in Delhi, the benchmark market, and Bikaner, a key market, as seasonal demand for the dal remains weak. In Delhi, chana was quoted at 4,450 rupees per 100 kg, down 50 rupees.
NCDEX chana down on weak demand from dal millers.
Futures contracts of chana hit the 3% lower circuit on the NCDEX, owing to subdued demand from dal millers and domestic stockists. Futures contracts of chana hit the 3% lower circuit on the NCDEX, owing to subdued demand from dal millers and domestic stockists. The most active August contract was at 4,100 rupees per 100 kg, down 140 rupees. Fall in chana prices in key spot markets due to rise in arrivals also weighed on chana contract.
Jaipur barley up on demand from domestic stockists.
Prices of barley rose in Jaipur owing to renewed demand from domestic stockists after a recent fall in prices. In the benchmark market, Jaipur, barley was sold for 1,390 rupees per 100 kg, up 20 rupees. Limited arrivals of the grain and demand from poultry feed sector, despite a concern over quality of domestic stocks, also supported prices. However, the overall sentiment remained bearish as demand from malt makers, the key buyers of the grain, remains subdued. Talks of import of barley are also seen capping gains in prices.
India May Extend Deadline For Imposition Of Higher Tariffs On U.S. Imports.
The government may extend the deadline for imposition of higher customs duties on 29 products, imported from the U.S. by another 45 days. Among the 29 products are almonds, walnuts and pulses.The Central Board of Indirect Taxes and Customs is likely to issue an amended notification extending the date for the new levy on August 4. While the import duty on walnut was to be hiked to 120 percent from 30 percent earlier, duty on chickpeas, Bengal gram and masur dal was to be hiked to 70 percent from 30 percent. Levy on lentils was to be hiked to 40 percent from 30 percent.
Centre plans mega sale of pulses as stocks pile up.
The Centre is planning to provide 70 million households in selected districts with 2 kg of pulses monthly at a price that is about 50 percent cheaper than market prices. Under this mega sale, the Centre will provide pulses, especially arhar and gram (chana), to states at Rs 35 per kg compared to the average cost of procuring pulses of Rs 50 per kg (for Nafed). It could cost the Centre about Rs 8,000 crore for implementation of such a scheme. Currently, 5kg each of rice or wheat is provided under the National Food Security Act to 81 crore beneficiaries across the country.
Relief to MP pulses mills, exemption from mandi tax for pulses coming from other states.
In the state of Madhya Pradesh, the state government has given the relief of lentil mills to eliminate the mandi fee of 2.25 per cent on pulses coming from neighboring states. This relief will be given to pulses only, if the traders bring pulses from other states, they will have to pay the mandi tax.
CBOT Wheat rises on fears of curtailed Black Sea exports.
Wheat prices leapt to multiyear highs on fears of curtailed exports from the Black Sea after heat and drought damaged crops across Europe. Milling wheat in Paris settled up 2.7 per cent at €212.75 per tonne. In Chicago, soft winter wheat closed 0.4 per cent higher at $5.60½ a bushel.
Zim sets 400 000t winter wheat target.
Zimbabwes winter wheat output is expected to reach 400 000 metric tonnes up from 158 000 tonnes achieved in the past seasons due to an increase in hectarage under command agriculture and introduction of support initiatives.
Iraq buys 50,000 tonnes wheat from Australia in tender.
Iraq’s state grains board had purchased about 50,000 tonnes of Australian wheat in a tender which closed this week. It was believed to have been purchased at $335 a tonne CIF free out.
Egypt’s GASC buys 240,000 T Russian and Romanian wheat.
Egypt’s state grain buyer, the General Authority for Supply Commodities (GASC), had bought 240,000 tonnes of wheat in an international tender. 60,000 tonnes Russian from Aston at $235.50 FOB plus $16.46 shipping costs equating to $251.96 a tonne c&f. 60,000 tonnes Romanian from Ameropa at $238.22 FOB plus $15.34 shipping costs equating to $253.56 a tonne c&f. 60,000 tonnes Russian from GTCS at $238.00 FOB plus $16.46 shipping costs equating to $254.46 c&f. 60,000 tonnes Russian from Posco Daewoo at $238.25 FOB plus $15.00 shipping costs equating to $253.25 a tonne c&f. The tender had sought shipment between Sept. 11 and 20. The lowest price in the previous Egyptian tender on July 24 was $217.95 a tonne FOB for 60,000 tonnes of Russian wheat.
India Wheat slips on ample stocks.
Wheat prices slipped by Rs 15 per quintal at the wholesale grains market today on the back of adequate stocks position against reduced offtake by flour mills. However, other grains held steady in thin trade. Besides reduced offtake by flour mills, sufficient stocks position on increased arrivals from producing belts, led to decline in wheat prices. In the national capital, Wheat dara (for mills) fell by Rs 15 to Rs 1,985-1,990 per quintal. Atta chakki delivery followed suit and traded lower by a similar margin to Rs 1,990-2,000 per 90 kg.
India Farm exports clock 6% growth in Q1 to touch $4.68 billion.
Exports of pulses have picked up, with volumes exceeding over one lakh tonnes during the quarter, enjoying robust demand from countries such as Turkey, Algeria and UAE. Similarly, volumes in dairy products increased to 35,720 tonnes (23,703 tonnes).
Rain deficit in 16 districts of Punjab, Haryana.
According to India Meteorological Department, Chandigarh, the overall rain indicated good monsoon in both the states, but district-wise rainfall details revealed that in Punjab, seven out of 22 districts have received deficit rain. Sixteen of a total of 43 districts in Punjab and Haryana have received deficit rainfall, despite having overall normal rainfall in July. Ferozepur and Mansa in Punjab and Panchkula in Haryana are among the worst hit districts in this paddy season. Ferozepur and Mansa have sown rice on 3.12 lakh hectares, including 1.86 lakh hectares in Ferozepur. In Haryana, rice crop is grown in 12-13 lakh hectares. Here, nine districts received less rainfall with Panchkula being the worst hit with 53 per cent deficit at 203.2 mm rain against a normal of 432.6 mm till July 31.
Punjab to give Rs.395 Cr to farmers for subsidized paddy residue Management.
As part of the Chief Minister’s ambitious campaign to control stubble burning, the Punjab Agriculture department has embarked upon a massive programme to provide subsidy worth Rs.395 crore, in the current fiscal, for the purchase of 28,641 agro-machines/farm equipment to farmers for the management of paddy residue. Subsidy ranging from 50% to 80% is being provided to the farmers under the scheme. This is part of the Rs. 665 crore subsidy announced by the Captain Amarinder Singh government for 2018-19 and 2019-20. The remaining amount of Rs. 270 crore would be utilized during the next financial year. While around 12,000 machines are being subsidized at 50% for individual farmers, another 5280 agro-machines are being provided to 514 farmer groups and 16655 agro-machines to 3547 Primary Agriculture Cooperative Societies (PACS) at a subsidy of 80% to establish Farm Machinery Banks (FMBs) to be used as Custom Hiring Centres.
NAFED to sell tur, urad via NCDEX e-Mkts.
The National Agricultural Cooperative Marketing Federation of India has offered to sell 10,585.41 tn of tur and 3,983.59 tn of urad through NCDEX e-Markets. The pulses are stocked at various central and state godowns in Tamil Nadu, Telangana, Karnataka, Uttar Pradesh, Madhya Pradesh, Andhra Pradesh, and Maharashtra.
NCDEX barley up on demand from poultry feed sector.
Futures contracts of barley were up on the NCDEX, owing to improved demand from the poultry feed sector and domestic stockists. On NCDEX, the most active August contract was at 1,610 rupees per 100 kg, up 0.41%. Limited supplies in the benchmark spot market of Jaipur also supported contracts on the NCDEX. Talks of import of the grain from Argentina and sluggish demand from malt industries following concerns over quality of domestic stocks, however, capped gains in prices.
Jaipur barley up on bargain buying post 2-wk low.
Prices of barley rose in Jaipur due to bargain buying by domestic stockists after prices hit a two-week low of 1,340 rupees per 100 kg. In the benchmark market, Jaipur, barley was sold for 1,370 rupees per 100 kg, up 30 rupees. A fall in arrivals and improved demand from poultry feed sector also supported prices of the grain. Sluggish demand from malt makers, however, capped the gain in prices.