The April contract of coriander on NCDEX hit a three-week high of 5,412 rupees per 100 kg due to expectation of a fall in output this year. The contract ended up 0.3% from the previous close. Lower area under coriander has resulted in less-than-expected arrivals this year. However, prices of the spice were unchasddnged in Kota, the benchmark market, as higher demand negated the effect of a surge in arrivals in Rajasthan.
Prices of chana rise in Delhi on low supply
Prices of chana rose in Delhi due to lower supplies and expectation of an increase in demand from dal millers in the coming days. Prices in Indore fell as demand from dal millers was lower, however a sharp downside in prices was restricted as the government may start procurement of the pulse.
Tur prices up in Akola on demand from dal millers
Tur prices were up in Akola because of slight recovery in demand from dal millers while it was unchanged in Kalaburagi.
Pakistan increased demand for soybean meal in poultry feed rations
Pakistan increased demand for soybean meal in poultry feed rations. The poultry industry in Pakistan is increasingly using soybean meal in its feed rations, and the USDA is expecting the country’s soybean imports to hit a record 2.5 million metric tons (MMT) in MY 2018/2019. Pakistan imported 1.7m tons of soybeans during MY 2016/17, according to the USDA data. Importers have shifted from Indian soymeal to take advantage of competitively-priced soybeans from other countries, said the US agency report. Rapeseed and canola imports are almost at and are expected to maintain at 2 million tons during 2017/18 and imports of soybeans are expected to climb to 2.0 MMT given the current tari structure. Soybean imports during MY 2018/19 are projected to reach to a record 2.5.
China’s impose 25% tariff on import of oilseed from US
Futures contracts of components of edible oil basket on domestic exchanges are likely to tick lower in the next five sessions primarily due to China’s decision to impose 25% tariff on import of oilseed from the US. China is the largest consumer of US soybean.
Malaysia palm oil up on demand ahead of Ramzan
Futures contracts of crude palm oil on the Bursa Malaysia Derivatives rose on expectations of a rise in demand ahead of Ramzan in May. The prices of crude palm oil and soyoil typically move in tandem as the commodities are used as substitutes for each other. The decline in palm oil inventories in Malaysia by 12% on-month to 2.18 mln tn in March.
EU sugar companies struggle to survive as prices plunge post-quotas.
EU sugar companies struggle to survive as prices plunge post-quotas.
Amid sugar glut, ISMA says unable to generate funds for paying farmers on time.
Amid sugar glut, ISMA says unable to generate funds for paying farmers on time.
Sugar cane arrears in India jump to 170 billion rupees.
Sugar cane arrears in India jump to 170 billion rupees.
US winter wheat recovers further on rains.
US winter wheat recovers further on rains.
French wheat quality continues to slide as March cold snap bites.
French wheat quality continues to slide as March cold snap bites.
Another wheat shipment for Afghanistan arrives in Iran’s Chabahar from India.
Another wheat shipment for Afghanistan arrives in Iran’s Chabahar from India.
Export prices of Thai rice rise in week.
Export prices of Thai rice rise in week.
Peru Rice Consumption is likely to down in MY-2018-19.
Peru Rice Consumption is likely to down in MY-2018-19.
Nigerian govt raises alarm over dangerous imported rice.
Nigerian govt raises alarm over dangerous imported rice.
Telangana govt agreed to send 3 lakh tonnes of rice to Tamil Nadu.
Telangana govt agreed to send 3 lakh tonnes of rice to Tamil Nadu.
Rice basmati rises on stockists buying.
Rice basmati rises on stockists buying.
Fall in arrivals lift barley prices in Jaipur
Prices of barley rose in Jaipur due to a fall in arrivals coupled with improved demand from the poultry feed industry and domestic stockists.
Kota coriander up; demand rises at lower price level.
Prices of coriander rose for the second consecutive day in Kota, Rajasthan due to a pick up in demand from spices makers at prevailing lower rates. Prices of coriander had declined in the last few days due to a rise in supply at key markets of Madhya Pradesh, Gujarat and Rajasthan.
Canada Oct-Feb masur export down 70% at 180,700 tn
Exports of masur from Canada since the start of the season in October till February fell 69.6% on year to 180,700 tn. A 30% import duty on masur imposed by India in December, one of the largest buyers, may have led to the fall in exports from Canada. However, exports in February surged 243.6% on month to 51,200 tn. The rise in exports in February has been attributed to robust demand from China, Pakistan, and Bangladesh.