Private flour millers in Punjab and Haryana feel the 10% import duty will have little impact on wheat procurement for public distribution system while private buying of the cereal will remain limited due to lack of trading infrastructure and higher levy in the two-states. The procurement for public distribution system is expected to better than the last year in the two-states due to favourable weather this year. A target of 33 million tonne wheat has been set for the current procurement season, higher by 43 per cent over the last corresponding season. The procurement missed target due to scanty rains in the last year and stood at 22.96 million tonnes. The procurement figure stood at in Punjab and Haryana stood at 104.44 lakh tonnes and 67.78 lakh tonnes respectively in 15-16 Rabi season. This year Haryana is expecting around 75 lakh tonnes of wheat during the Rabi procurement season and procurement is expected to higher in Punjab as well.
NCDEX coriander hits 8-week high as arrivals decline.
Coriander contracts rise for the third consecutive week and hit eight-week high due to lower arrivals and as demand from domestic and overseas markets rise. Arrivals at Kota were pegged at 6,000 bags (1bag=40kg), down 2,000 bags from the previous day. On the NCDEX, the most-active April contract was up 0.5%.
NCDEX coriander hits 8-week high on rising demand.
NCDEX coriander hits 8-week high on rising demand.
Lima grain barley exported from Pacific Northwest (North America) to South Africa.
Lima grain barley exported from Pacific Northwest (North America) to South Africa.
Barley stocks in Ukraine 24% up year-on-year.
Barley stocks in Ukraine 24% up year-on-year.
Rice prices rise in India, Thailand on stronger currencies.
Rice prices rise in India, Thailand on stronger currencies.
Pakistan sends rice for drought-hit Sri Lanka.
Pakistan sends rice for drought-hit Sri Lanka.
Philippine may review rice imports on larger crop.
Philippine may review rice imports on larger crop.
NCDEX wheat fall as supply seen rising in spot.
NCDEX wheat fall as supply seen rising in spot.
Western Canadian wheat bids seen softening.
Western Canadian wheat bids seen softening.
Russia to cut wheat prices for replenishing state stocks.
Russia to cut wheat prices for replenishing state stocks.
ITC buys 15,000 tn wheat in Kota over 15 days.
ITC buys 15,000 tn wheat in Kota over 15 days.
NCDEX coriander hits 8-week high on rising demand.
Futures contracts of coriander on the NCDEX extended gains and hit an 8-week high as demand from domestic and overseas markets rise. Arrivals at Baran were pegged at 5,000 bags (1bag=40kg), up 3,000 bags from previous day. On the NCDEX, the most-active April contract was up 0.4%.
Lima grain barley exported from Pacific Northwest (North America) to South Africa.
Lima grain Europe and Lima Grain Cereal Seeds sent 12 tonnes of the malting barley variety LCS Genie to South Africa for farming and malting purposes. This barley variety high-yielding and passed all the malt tests in the U.S which yields have high with the feed barley. Recently Lima Grain Cereal Seeds has sent varieties to India, Australia and South Africa.
Barley stocks in Ukraine 24% up year-on-year.
Ukraine reserves of grains and pulses totalled 19.21 MMT as of March1, 2017 that is 18.7% more than at the same time last year (16.19 MMT). Barley inventories are 24% up from last year, amounting to 1.59 MMT (1.28 MMT).
Rice prices rise in India, Thailand on stronger currencies.
Rice prices firmed in Thailand and India on stronger local currencies, while prices weakened in Vietnam as the country entered its peak harvest season. In India, percent broken parboiled rice prices rise by $2 per tonne to $373 to $378 a tonne this week, as gains in the rupee led exporters to raise prices. The rupee was near its highest level in about 18 months. Prices of the benchmark 5% broken rice rise to $350-$365 a tonne free-on-board (FOB) Bangkok from $350-$36 as the baht appreciated against the U.S. dollar, but demand has been low. In Vietnam, its main harvest season since late March, pushing down prices of the 5% broken rice to $348-$350 a tonne FOB Saigon from $350-$355. Vietnam rice exports are expected to fall 23.9% annually to 1.19 million tonnes in the first quarter, after its shipments of the grain dropped 26.5% in 2016 due to lower production caused by climate changes.
Pakistan sends rice for drought-hit Sri Lanka.
Pakistan will send 10,000 metric tonnes of rice to Sri Lanka which is facing its worst drought in four decades. The first shipment of the consignment will depart from Pakistan on March31 and reach Sri Lanka on 3rd April. Earlier, 25 metric tonnes of rice was airlifted to Colombo on February8 as immediate short term assistance.
Philippine may review rice imports on larger crop.
The country was looking to import 250,000 tonne of rice from Vietnam. Rice output in Philippine is seen higher because of favourable conditions and no infestation so far. Philippine is among the largest importers of rice, buying mostly from neighbours Thailand and Vietnam.
NCDEX wheat fall as supply seen rising in spot.
Futures contracts of wheat fell on the National Commodity and Derivatives Exchange today due to expectation of a rise in supply in coming days. Arrivals of wheat usually peak in April when crop is harvested in most states. In Indore, about 40,000 bags (1bag=100kg) of wheat arrived and in Kota market, arrivals were at 60,000-70,000 bags.
Western Canadian wheat bids seen softening.
Spring wheat bids in Western Canada were lower during the week ended March 24, as favourable weather in the U.S. Plains and large world supplies weighed on the market. Average Canada Western Red Spring wheat prices were down $4-$5 per tonne across the Prairie provinces. Average durum prices were mostly lower, with bids in southern Alberta, up by 25 cents, being the lone exception. Bids in Saskatchewan were steady to down $2 per tonne, to range from $260 to $263.