India Grain importers may get more time to meet tighter fumigation norms.
Ram Gopal Yadav (9 years ago)

The government is likely to give importers some more time to comply with mandatory methyl bromide fumigation of all grain cargo at the port of origin. The current exemption from the compliance will expire on Jun 30. Indian plant quarantine norms stipulate methyl bromide fumigation of all cargoes at the port of loading to prevent foreign insects and pests from reaching Indian shores. In 2005, the government had relaxed this norm, allowing importers to either use alternative fumigants or fumigate imported grain shipments with methyl bromide once they enter Indian waters. The move had helped India import wheat and pulses from the US, Canada, Australia and European countries, where use of methyl bromide is banned due to environmental and health concerns. The government now wants to re-instate the mandatory use of methyl bromide at the port of origin, as the chemical is the best bet so far against eggs and pupae of insects, which other fumigants fail to tackle. There are concerns that India move to tighten fumigations norms would slow the import of pulses and wheat from Australia, Canada, France, Ukraine, Russia and a host of other countries that have banned the use of methyl bromide. The government has already issued a draft notification allowing the use of phosphine on grain shipments from Canada.

FAO says India non-basmati rice Jan-May export prices up 6.3% on year.
Ram Gopal Yadav (9 years ago)

The average export price of 25% broken non-basmati rice from India rose 6.3% on year to $347 per tonne during Jan-May. India non-basmati rice prices had fallen during 2016 due to weak demand from Iran and other buyers. During May, 25% broken non-basmati rice from India was exported at $360 a tonne, while that from competitors Thailand and Pakistan was sold at $394 a tonne and $367 a tonne, respectively. Prices of 25% broken rice from Thailand fell by 2.7% on year to $371 a tonne, while rice from Vietnam declined 3.6% on year to $328 a tonne.

WASDE JUNE RICE OUTLOOK:
Ram Gopal Yadav (9 years ago)

U.S. 2016/17 rice ending stocks are lowered 2.0 million cwt this month on increased exports. Milled exports for 2016/17 are raised 4.0 million cwt on strong demand particularly in the Middle East. However, rough exports for 2016/17 are lowered 2.0 million cwt on a correction in Census data for shipments to El Salvador; the correction also led to a slight reduction in 2015/16 rough exports. Total supplies for 2017/18 are down 2.0 million cwt, reflecting the lower beginning stocks and unchanged production. All rice planted area remains estimated at 2.6 million acres despite weather-related uncertainties in the mid-South and California during planting this spring. NASS will release the Acreage report on June 30 providing an estimate for rice planted area and a forecast for harvested area. Total exports are raised 2.0 million cwt to 112.0 million with milled increased 3.0 million and rough reduced 1.0 million. Ending stocks are lowered 4.0 million cwt to 34.1 million, and the 2017/18 all rice season-average farm price is raised $0.30 per cwt at the midpoint to a range of $11.00 to $12.00. Global supplies are raised fractionally for both 2016/17 and 2017/18. The largest change is a 1.5-million-ton increase in 2016/17 India production to 108.0 million on updated government statistics. Global 2017/18 rice production is lowered fractionally to 481.0 million tons, down 2.1 million tons from the previous year and the second largest on record. Exports are raised 0.6 million tons in 2016/17 and 0.5 million tons in 2017/18 both largely on increases for India. Imports for 2017/18 are raised 0.4 million tons for Bangladesh on tight supplies. Only slight changes are made this month to total use. Ending stocks are raised 0.7 million tons for 2016/17 and 0.8 million tons for 2017/18, respectively.

NCDEX coriander up 1% on low availability of stocks.
Ram Gopal Yadav (9 years ago)

Futures contracts of coriander on the NCDEX were up over 1% because of lower availability of stocks with farmers. The front-month July contract was at 4,820 rupees per 100 kg, up 1.4% from the previous settlement. India total annual consumption of coriander is 320,000 tonne, and the amount left with stockists is only half of it. Farmers in the state have very less produce left with them and most of the crop is lying with stockists, who are refraining from selling as they await a rise in prices. In Kota, the benchmark market, the Badami variety was sold at 5,600 rupees per 100 kg, while the Eagle variety was quoted at 5,800 rupees, both up 100 rupees from previous close. Arrivals in Rajasthan were 5,000 bags (1bag=40kg), up 3,000 bags from previous close.