Wholesale prices of wheat in the benchmark market of Indore, Madhya Pradesh, fell due to weak demand from flour mills. In Indore, mill quality wheat was sold down 25-30 rupees from Tuesday. Low demand for flour has hit demand for wheat from flour mills. Arrivals were low in Indore at 7,000 bags, each carrying 100 kg of the grain, down from 10,000 bags on previous close. This prevented further fall in prices. Supplies have dwindled as farmers are not willing to sell the produce at low prices. Futures of wheat too were down, tracking weakness in spot markets. On NCDEX, the most active June wheat contract was down 1% from the previous close.
Dairy body to buy 30,000 tonne maize via e-auction.
The National Cooperative Dairy Federation of India will buy 30,000 tonne of maize through a reverse electronic auction on Friday. The commodity, used as cattle feed, bought on behalf of Karnataka Milk Federation. The dairy body, which has nearly 200 dairy cooperatives as members, has developed an online trading platform to purchase feed stock and sell dairy products.
Jun NCDEX maize hits 1-month low on cues from spot mkt.
The June contract of maize on the NCDEX hit a one-month low in early trade. The June contract was down 1.2% from the previous close. Subdued demand from major poultry and starch feed firms weighed on maize prices in spot markets. In the benchmark market of Nizamabad. Telangana, maize was sold down 10-15 rupees from previous close. Higher arrivals at major spot markets in Bihar also weighed on futures of the commodity. In Purnea, Bihar, the coarse grain was sold down 20 rupees from the previous day. Arrivals at the Gulabbagh mandi in Purnea were at 3,200 tonne up from 2,800 tonne on Tuesday.
India 2016-17 rabi maize output seen at 7.9 millon tonne, up 14.7%.
India rabi maize output in 2016-17 (Oct-Sep) is seen rising 14.7% on year to 7.9 million tonne. Acreage under the coarse grain has risen 11.7% on year to 2.1 million hactare in 2016-17, with gains in Bihar. Andhra Pradesh and Maharashtra because of good water availability in these states. In Tamil Nadu, however, area under the crop declined because of prolonged drought conditions. The brokerage has pegged average yields at 3.9 tonne per ha, up 5.4% on year. Output in Bihar, the largest producer of rabi maize producer, is seen at 2.8 million tonne compared with 2.4 million tonne a year ago. Despite a rise in output, export demand for maize is expected to remain largely unchanged at 500,400 tonne. In 2015-16, India exported 500,600 tonne of maize.
Govt slashes import duty on sunflower seed to 10%.
Govt slashes import duty on sunflower seed to 10%.
Groundnut oil exports could take a hit over high domestic prices.
Groundnut oil exports could take a hit over high domestic prices.
NCDEX mustard down on likely high output and stocks up.
NCDEX mustard down on likely high output and stocks up.
Bargain buying lifts mustard seed prices in Jaipur.
Bargain buying lifts mustard seed prices in Jaipur.
Soybean prices rise in Indore on pent-up demand.
Soybean prices rise in Indore on pent-up demand.
EU soybean imports fell 5% to 10.9 million tonne.
EU soybean imports fell 5% to 10.9 million tonne.
Abiove Raises Brazil 2017 Soybean Production by 3.2%.
Abiove Raises Brazil 2017 Soybean Production by 3.2%.
CBOT soybean up on hopes of robust exports from US.
CBOT soybean up on hopes of robust exports from US.
Ukraine offers yellow peas at $335 per tonne CiF Nhava Sheva & $340 at Kolkata for May delivery.
Ukraine offers yellow peas at $335 per tonne CiF Nhava Sheva & $340 at Kolkata for May delivery.
Urad down in Delhi on lower demand from millers.
Urad down in Delhi on lower demand from millers.
South Indian pulses importers import 570 containers at Chennai & Krishnapatnam ports.
South Indian pulses importers import 570 containers at Chennai & Krishnapatnam ports.
Maharashtra gets extension of stock limit on pulses.
Maharashtra gets extension of stock limit on pulses.
Barley prices at 5-week low in Jaipur on muted demand.
Barley prices at 5-week low in Jaipur on muted demand.
Efforts to foster sustainable rice production gain traction in nigeria.
To help meet national demand of around 5.2m tonnes in 2016, Nigeria imported 2.3m tonnes of rice last year, according to the UNs Food and Agricultural Organisation (FAO). This heavy reliance on external sources has seen Nigeria – currently the world second-largest importer of the grain after China – import around 17m tonnes of rice in the last five years, with the country spending an average of $5m per day on shipments of the grain, Audu Ogbeh, minister of agriculture and rural development, told international media earlier this year.
Iran Likely to Produce 22.5 MMT of Rice in 2017.
Iran is likely to produce 22.5 MMT of rice in 2017 compared to 21 MMT in 2016. For meeting its additional requirements of Basmati rice Iran depends on imports. The increase in production over the years is continuously reducing its dependency on imports. Iran imported 14.40 LMT in 2013-14, 9.66 LMT in 2014-15, 6.95 LMT in 2015-16 and 5.50 LMT during the first ten months of 2016-17 (April 2016 to January 2017) from India. It is estimated that in fiscal year 2016-17 Iran is likely to import 6.50 LMT of basmati rice from India. Therefore, Iran demand of basmati rice is likely to fall in coming year because increase in production.
ICE raw sugar up 1% due to lower output in Brazil.
Futures contracts of raw sugar on the ICE rose over 1% due to a decline in production in Brazil Centre-South region in the first half of April. The contracts had declined to a 12-month low last week. the July contract was up 1.1% from the previous close. Mills in Brazil Centre-South region produced 704,000 tonne of sugar during the first fortnight of April, down 51% from a year ago. The sharp fall in sugar output could be attributed to lower grinding and a reduction observed in the production mix.