India wheat unchanged in spot market.
Ram Gopal Yadav (8 years ago)

Wheat prices in the key wholesale markets of Delhi and Indore were unchanged amid thin trade. Demand from millers is low, which has kept trade subdued. Arrivals in Delhi were around 15,000 bags (1bag=100kg), in Indore, farmers brought around 3,000 bags to the market. Supplies were also unchanged from previous close. Wheat futures contracts, however, ended down as traders booked profits after prices rose over the last six trading days. June wheat contract on the NCDEX settled down 0.3% from previous close.

Sugar prices down in Delhi, Kolhapur, unchanged in other markets.
Ram Gopal Yadav (8 years ago)

In Delhi, sugar was traded down 20 rupees per 100 kg, as demand waned at higher prices. Prices also fell in the wholesale markets of Kolhapur, as mills scaled down prices to trigger demand. In Muzaffarnagar, another important wholesale market, prices were largely unchanged because trade was subdued. Prices were also unchanged in Mumbai because of subdued demand. Also, as price cuts by mills had failed to trigger demand, these entities weren’t lowering prices further. Demand for the commodity in Mumbai has declined as states that usually buy sugar from Maharashtra have shifted to Uttar Pradesh because of higher production in the northern state. NCDEX May contract was down 0.4%.

Govt mulling hiking 2017-18 cotton MSP by 160 rupees/100 kg.
Ram Gopal Yadav (8 years ago)

The government is considering increasing the minimum support price for medium and long staple cotton by 160 rupees per 100 kg for the new crop year beginning July. The agriculture ministry has proposed increasing the MSP of medium staple variety to 4,020 rupees per 100 kg and long staple to 4,320 rupees. The agriculture ministry has moved a Cabinet note on MSP for cotton, based on the recommendation of the Commission for Agricultural Costs and Prices. In the current season, MSP for medium staple cotton is at 3,860 rupees per 100 kg and long staple is 4,160 rupees.

NCDEX coriander hits 3% upper circuit on spot cues.
Ram Gopal Yadav (8 years ago)

Futures contracts of coriander hit the 3% upper circuit on the NCDEX, tracking the gains in Rajasthan Baran market. June contract traded up 2.3% on NCDEX. Prices of coriander were up due to increased demand from local stockists. In Baran, a key wholesale market for the commodity, the Badami variety of coriander and the Eagle variety both up 200 rupees from previous close. Arrivals at the Kota and Ramganj markets in Rajasthan were 11,000 bags (1bag=40kg) up 2,000 bags from previous close. Arrivals in Baran were pegged at 6,000 bags.

Govt procures 36 million tonne rice since Oct, purchases up 24% on year.
Ram Gopal Yadav (8 years ago)

The central government has procured 36.0 million tonne rice so far in the 2016-17 (Oct-Sep) marketing year, up 24% on year. The Centre is buying rice from farmers at MSP 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 procured so far, up 35.4% on year, and in Haryana government bought 3.6 million tonne rice, up 25.2% from a year ago. About 141,302 tonne rice has been procured in Tamil Nadu so far, down 86.2% 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.

Govt rice stock rise on May 1.
Ram Gopal Yadav (8 years ago)

The government had 22.8 million tonne rice in its stocks as of May 1, up from 21.3 million tonne a year ago, due to a higher procurement of rice. So far, 36.0 million tonne rice has been procured for the 2016-17 (Oct-Sep) marketing year, up 24% on year.