The Maharashtra government has procured 127,000 tn of tur in the season so far from about 105,000 farmers. The state started procuring the commodity after market prices slipped below the minimum support price of 5,450 rupees per 100 kg. Prices fell because of a spike in arrivals of the new crop coupled with subdued demand from millers. The state has also procured 5,434 tn of moong, 58,600 tn urad, 26,200 tn soybean and 400 tn of gram.
Russia increased wheat bran export by 4% in first half 2017/18
Russia increased wheat bran exports by 4.4% in the first half of MY 2017/18 against the same time a year ago, to 462.3 KMT. Russian wheat bran exports dropped to 99.6 KMT in December 2017/18. This was down 5.1% on the month and 21.1% less than in December 2016/17 (126.3 KMT).
Demand growth to lift Philippines wheat imports to record high in 2018-19
Wheat imports by the Philippines will resume growth next season, hitting their highest on record, offering an early fillip to exporters from the US.USDA in their first forecasts for Philippines grain supply and demand in 2018-19, pegged wheat imports at 5.75m tonnes.
Odisha imports wheat, cereals to meet needs
Odisha has been importing wheat, cereals, edible oils and potato from other States for long to meet people’s day-to-day needs. Odisha imported 5.12 lakh MT of wheat against annual need of 5.19 lakh MT and 64.48 lakh metric tonne of cereals against annual need of 73.46 lakh MT in 2017-18. Similarly, it imported 0.17 lakh metric tonne of edible oil and 9.51 lakh metric tonne of potato against annual needs of 2.45 lakh MT and 12.53 lakh metric tonne respectively. The Minister informed that Odisha imports wheat mostly from Uttar Pradesh, Madhya Pradesh and Bihar and pulses from Maharashtra and Chhattisgarh. Similarly, edible oil is procured from Rajasthan, Gujarat, Andhra Pradesh and Uttar Pradesh.
Tur prices flat in Akola as supply, demand steady.
Prices of tur were steady in the benchmark market of Akola, as both sufficient and demand were steady. In Akola, Maharashtra, prices of tur were unchanged.
Chana up in Delhi on low arrivals, export incentive
Prices of chana rose slightly in the benchmark market of Delhi due to lower supplies and on improved sentiment after the government announced export incentive. A 7% duty credit incentive on export of desi chana for a period of three months, effective Wednesday, was announced. This is aimed at disposing off huge stocks of chana, thus lifting prices of the commodity.
Barley in Jaipur over 2-yr low as new crop supply up
Prices of barley in Jaipur, the benchmark market in Rajasthan, hit an over two-year low down 25 rupees, due to rising arrivals of the new crop. Subdued demand from malt industries and domestic stockists, also weighed on barley prices. The demand for domestic barley is subdued, because stockists have already procured imported barley.
Adequate stocks drag India wheat futures down by 0.85%.
Adequate stocks drag India wheat futures down by 0.85%.
Wheat firms, edges up from one-month low as U.S. crops suffer further damage.
Wheat firms, edges up from one-month low as U.S. crops suffer further damage.
Jaipur mustard seed up on demand from millers.
Prices of mustard seed were up in the benchmark market of Jaipur due to renewed demand from domestic oil millers and crushers, after price hit a two-month low. Higher arrivals were insufficient to meet the rising demand, thereby supporting prices of mustard seed
Government should look to build 5 mt buffer of sugar stock, says Sakthi Sugars.
Government should look to build 5 mt buffer of sugar stock, says Sakthi Sugars.
India edible oil most dn; NCDEX soybean gains taking cues from CBOT
Futures contracts of most components of the edible oil complex, barring soybean, fell on domestic exchanges. The most-active April contract of soybean rose marginally on the National Commodity and Derivatives Exchange tailing strength in key contracts on the Chicago Board of Trade. Paring gains from the previous session, the April contract of mustard on NCDEX traded 0.5% lower due to a rise in arrivals of fresh crop and lukewarm demand from oil millers.
Sugar stocks in demand, surge up to 9%.
Sugar stocks in demand, surge up to 9%.
Russia boosts palm oil imports in January 2018
Russia’s import of palm oil and its fraction surged 27.8% year-on-year to 72,700 tonnes in January 2018. Imports of sunflower oil, safflower or cottonseed oil and their fractions grew by 21.2% to 900,000 tonnes in the first month of the year. Import of coconut (copra), palm kernel or babassu oil and their fractions fell 49.5% in the reporting period to 4,000 tonnes
US corn inspected for export up 2.3% on week, up 3.8% on year.
US corn inspected for export up 2.3% on week, up 3.8% on year.
Indonesia buys about 50,000 T rice in tender
Indonesian state food procurement agency Bulog bought about 50,000 tonnes rice in an international tender. The rice in the purchase is expected to be sourced from Pakistan. The purchase included 12,500 tonnes of white rice of 5 percent broken grade all bought at $460 a tonne c&f. Another 37,500 tonnes of white rice of 15 percent broken grade was all purchased at $450 a tonne c&f. Latest shipment period is May 31 and all the rice will be shipped in containers.
Romania reliable corn supplier to EU market.
Romania reliable corn supplier to EU market.
Thailand expects record rice production
Rice and corn production in Thailand is expected to increase in 2018-19 due to attractive prices and available water to support irrigation. The country’s rice production is expected to reach a record 21 million tonnes, up 3% from the 2017-18 marketing year. In February, the farm-gate price for white and fragrant paddy rice were up 5% and 53%, respectively, from the previous year.
South Korea buys four July corn cargoes at $216/mt.
South Korea buys four July corn cargoes at $216/mt.
Pakistan to export 100 tons hybrid rice seeds for first time in April
Pakistan is all set to export the first ever consignment of 100 tons heat-tolerant rice seeds to the Philippines next month. The first ever consignment of 100 tons high-yielding hybrid rice seed is expected to be exported to the Philippines in April, which will be sufficient to cultivate about 15,000 acres of land. The success of Pakistani scientists in developing prime rice seed varieties was a result of partnership with Chinese researchers, led by Yuan Longping, in 2004 after development of hybrid seed breeding technique across the coastal belt of Sindh