Tur down in Akola on subdued demand from millers.
Delhi chana up on recovery in demand, low supply.
Delhi chana up on recovery in demand, low supply.
India could import more sugar as prices plunge, rupee strengthens.
India could import more sugar as prices plunge, rupee strengthens.
ICRA sees India’s sugar production rising 16-20% in year to Sep 2018.
ICRA sees India’s sugar production rising 16-20% in year to Sep 2018.
Sugar up in north India on high demand, flat in Maharashtra.
Sugar up in north India on high demand, flat in Maharashtra.
ICE Raw Sugar July contract up at 12.55 vs 12.65 cents/pound (-0.10%).
ICE Raw Sugar July contract up at 12.55 vs 12.65 cents/pound (-0.10%).
Mustard seed prices up in Jaipur on bargain buying
Mustard seed prices up in Jaipur on bargain buying
India coffee exports during Jan 1- Jun 27.
The Coffee Board of India has finalised its crop estimate for 2015-16 at a record-high of 348,000 tonnr, up from 327,000 tonnr produced a year ago, but down from previous estimate of 350,000 tn. The board has estimated the output for 2016-17 at 316,700 MT tonnr, down 9% on year.
All-India cotton arrivals down at 20,000 bales.
Around 20,000 bales (1 bale = 170 kg) of cotton arrived in the major spot markets across the country on Tuesday, compared to 21,000 bales on Monday.
South Africa Price of white maize falls with glut export markets.
Government crop estimates committee said the size of the expected commercial maize crop was unchanged at 15.6-million tonnes. Of that, 9.5-million tonnes would be white maize and the rest the yellow variety. Industry expectations are for a 4.2-million tonne exportable surplus for both white and yellow maize. About 2-million tonnes will be exported, while the rest of the stocks will carry over to the next marketing year.
India rice down as traders cautious ahead of GST.
Prices of basmati and non-basmati rice also fell in Haryana Karnal market due to weak export demand besides subdued buying. The white sella basmati rice was selling in Karnal, down 100 rupees from previous close and Pusa 1121 steamed rice was selling down 50 rupees. Prices of non-basmati rice were also down as arrival of summer paddy from Uttarkhand and Uttar Pradesh has flooded the market. Arrival of 1509 variety of summer paddy started nearly one week back and so far, 1.5 million bags (1bag=100kg) have arrived in Karnal market.
India PEC plans to export 500,000 tonne of non-basmati rice in 3-4 month.
PEC Ltd has floated a tender to sell 500,000 tonne of non-basmati rice (white or parboiled rice) from the crop of 2016 or later. The tender will close on Friday. The entire quantity will be shipped in 3-4 months from the date of conformation of supply by PEC.
India Govt procures 38.6 million tonne rice since Oct, up 13.4% on year.
The central government has procured 38.6 million tonne rice so far in the 2016-17 (Oct-Sep) marketing year, up 13.4% on year. The Centre is buying rice from farmers at a minimum support price of 1,470 rupees per 100 kg. Procurement has been the highest in Punjab, where the government has purchased 11.1 million tonne of the food grain, up 18.2% on year. In Chhattisgarh, 4.7 million tonne rice has been procured so far, up 35.4% on year, and in Haryana, government agencies have bought 3.6 million tonne rice, up 25.2% from a year ago. Procurement has been higher year-on-year in most states as India rice output in 2016-17 (Jul-Jun) is estimated at a record high of 109.15 million tonne.
Maharashtra farmers asked to transplant paddy in a week.
National Agromet Advisory services has recommended farmers in Maharashtra to transplant paddy till the end of next week. The progress of southwest monsoon is likely to be good in Maharashtra in the coming days, with western Maharashtra likely to see heavy rains accompanied with thunderstorm, the IMD said.
CME Group to launch Australian wheat futures in Jul.
CME Group has announced it launch Australian wheat FOB (Platts) futures contracts on Jul 24 and available for trading on CME Globex. FOB or free on board indicates that the supplier pays the shipping costs. The contract listed with and subject to the rules and regulations of the CBOT. The financially-settled contracts take reference from the Platts daily assessment of the Australian Premium White wheat spot prices. This new contract helps international traders and give them exposure to Australian prices without having to take physical delivery.
USDA arm sees Kazakhstan 2017-18 wheat output down 13%.
Kazakhstan wheat production is likely to decline by 2 million tonne to 13 million tonne in 2017-18 (Sep-Aug) as acreage under wheat is expected to fall. The country wheat exports, however, are seen slightly higher in 2017-18 at 7 million tonne against 6.8 million tonne in 2016-17 due to an increase in closing stocks. As on Jun 1, Kazakhstan had 5.6 million tonne stock of wheat, compared with 4.3 million tonne a year ago.
U.S. Wheat up, weather concerns support.
Chicago wheat futures rose for a third consecutive session with prices underpinned by dry weather threatening to reduce U.S. spring crop production. The wheat market has been supported as crop conditions in the northern U.S. Plains spring wheat region have deteriorated sharply in the last month due to hot and dry weather. Analysts expect the U.S. Department of Agriculture on Friday to lower its estimate of U.S. spring wheat plantings for 2017.
India Govt FY18 wheat buys touch 30.8 million tonne as purchases on in Rajasthan.
With wheat purchases still on in Rajasthan, the government total procurement of the food grain for the current marketing year ending March, has touched 30.8 million tonne, up 34.1%. The government wheat procurement has ended in the major producing states, except Rajasthan, where 1.24 million tonne wheat has been procured so far, up 62.8% from a year ago.
Delhi wheat prices fall on low demand ahead of GST.
Prices of wheat fell in Delhi as buyers refrained from purchasing the grain due to lack of clarity on goods and services tax, to be implemented from Jul 1. In Delhi, mill quality wheat was sold down 10 rupees from previous close. Traders are not buying now, as they fear holding stocks ahead of GST as once they get a clear idea, they start accounting once again. Unbranded wheat is kept under the 0% tax slab under the new tax regime, while packaged and branded wheat is at 5%.
India Govt sells 77,000 tonne wheat under open market sale plan so far FY18.
The government has sold 77,000 tonne wheat under the open market sales scheme in the current fiscal year so far. For 2017-18 (Apr-Mar), the government has set the average price at 1,790 rupees per 100 kg for procuring states and in non-procuring states, the reserve price rises by an amount equal to ex-Ludhiana railway freight. Higher prices have kept buyers away so far, and the quantity sold was only 19% of 409,100 tonne offered. The first tender was floated on Jun 15, offering 355,950 tonne for sale, of which only 36,000 tonne was sold. The second tender was released on Jun 22, and offered 373,100 tonne wheat but only 41,000 tonne was sold.