USA wants China not to impose customs tariffs on soybean imports
Ram Gopal Yadav (8 years ago)

Chinese restrictions on imports of soybean from the United States will harm the Chinese people more than US producers. Imposition of China duties on soybean import would cause an annual economic loss for the US between 1.7 billion USD and 3.3 billion USD. China buys nearly 60% of soy products that are traded globally, with over 30% of soybean imports coming from the United States.

Brazil’s soybean harvest has reached 71%.
Ram Gopal Yadav (8 years ago)

Brazil’s soybean harvest has reached 71% up six percentage points in the week and just short of last year’s figure of 74% at this time of the harvest. In the North/Northeast, the harvest of the 2017/18 harvest reached 25% in Bahia, 50% in Maranhao, 56% in Tocantins, 40% in Piaui, 27% in Para and 97% in Rondonia.

Soybean imports may hit record high this year
Ram Gopal Yadav (8 years ago)

The country’s soybean imports this year are likely to touch a record high of around 1 lakh tonne and this trend is expected to continue. India produced around 83-85 lakh tonne of soybean at the end of 2017, down from more than 110 lakh tonne a year ago. According to market sources, deals have been signed to buy up to 100,000 tonne of soybean mainly from Ethiopia and Benin in Africa. India has concessional import duty agreements with these countries. Deals have been reportedly signed at $410-520 a tonne for delivery to Indian ports.

US Soybean crop acreage down
Ram Gopal Yadav (8 years ago)

US acreage for soy in 2018 to fall 1% 89 million acres. US Soybean stocks beginning of March 2.107 billion bushels. USDA private sale of 266,500 MT of soybeans to unknown destinations for 17/18 delivery. Export Sales report showed just 317,511 MT in old crop sales. 69,717 MT for new crop sales. Soy meal sales 184,052 MT, with soy oil at 34,589 MT.

Govt disposes of 7 lakh tonne pulses from buffer stock.
Ram Gopal Yadav (8 years ago)

The Centre has disposed of around 7 lakh tonne of pulses so far from a buffer stock of 20.50 lakh tonne. Around 7 lakh tonne of pulses including tur has been sold so far. The efforts are made in order to clear the old stock and create space for new crop.

Chana prices up in Delhi on demand from dal millers
Ram Gopal Yadav (8 years ago)

Prices of chana rose in Delhi due to higher demand from dal millers and domestic stockists, as well as a fall in supply. In Delhi, prices of chana were up 25 rupees. The rise in prices was also because the Madhya Pradesh government it would buy chana at the minimum support price, not under the price-deficit Bhavantar Yojna scheme.

Govt allows bulk export of all edible oils, barring mustard
Ram Gopal Yadav (8 years ago)

Mustard oil exports to continue in packs only up to 5 kg. Minimum export price of $900/tn for mustard oil to continue. The Union Cabinet allowed export of all edible oils in bulk, barring mustard oil. Earlier, edible oil exports were allowed only under branded consumer packs of up to 5 kg. Removal of export restrictions is aimed at opening new marketing avenues for Indian edible oils, which in turn would benefit oilseed farmers in the country by way of better realisations. The move would also help in utilisation of idle refining capacity in domestic edible oil industry. Export of mustard oil, however, would continue only in consumer packs of up to 5 kgs with a minimum export price of $900 per tn.

Govt approves urad procurement in Andhra Pradesh, Tamil Nadu
Ram Gopal Yadav (8 years ago)

The government has approved procurement of 100,000 tn urad in Andhra Pradesh and 3,000 tn from Tamil Nadu during the ongoing rabi season. The government will also purchase 32,000 tn moong from farmers in Andhra Pradesh. The minimum support price, at which the government procurement takes place, is 5,400 rupees per 100 kg for urad, and 5,575 rupees per 100 kg for moong. The move comes in the wake of high domestic supplies due to a bumper pulses output in 2016-17 (Jul-Jun) and anticipation of a record high crop this year as well.

India will make decision on Myanmar beans quota by month-end
Ram Gopal Yadav (8 years ago)

At the government’s request, India will make a much needed decision on a new import quota for Myanmar-produced pulses and beans by the end of this month. Myanmar exports 80 percent of its beans and pulses to India. However, due to an oversupply in its own backyard, India last year imposed a quota on all Myanmar imports, resulting in steep falls in the price of locally produced beans. The collapse in the prices of beans and pulses in Myanmar has had a big impact on farmers so the government has asked for a new quota from India so that farmers can export their crops.