Haryana govt begins procurement of mustard at MSP to boost prices
Ram Gopal Yadav (8 years ago)

The Haryana government has begun procurement of mustard at the minimum support price in the state to support falling prices. The Centre approved the proposal of the Haryana government to allow procurement of 237,250 tn of mustard harvested in 2017-18 (Jul-Jun) in the state at the minimum support price of 4,000 rupees per 100 kg, including a bonus of 100 rupees. Mustard was procurement in 11 districts including Gurugram, Rohtak, Karnal, Charakhi Dadri, and Hisar. Haryana is among the leading growers of mustard. The Centre has also approved the procurement of 800,000 tn mustard in Rajasthan.

Chinese soymeal demand to rise in April
Ram Gopal Yadav (8 years ago)

Chinese soymeal demand will increase in April as consumption from seasonal fish farming is expected to outweigh a typical post Chinese New Year slump in demand from the livestock sector. Soybean arrivals in April are expected to increase to cope with the higher demand in meal. March arrivals are expected to come in at 6.3 million mt, equal to March 2017. However, for now, crushers are not incentivised to increase their run rates, as domestic meal prices dropped from their pre-CNY highs by RMB60-100 /mt ($9.5 – $16/mt) to 3000-3100 RMB/mt ($475 – $491/mt). Meanwhile, soymeal stocks remain buoyant and currently stand at 720,000 mt, up 40,000 mt on the week. China crushed 1.8 million mt of soybeans last week, unchanged for the same week last year, but remains below levels seen before Chinese New Year, which topped the 2 million mt level. Demand for soy oil remains strong as it is $20/mt cheaper than rapeseed on a CIF basis, at $453/mt while also remaining more competitive than palm oil. About 300,000 mt of soybean oil is expected to arrive in March 2018, up 100,000 mt from the month before.

Argentina soybean production forecast down 13%
Ram Gopal Yadav (8 years ago)

The revised production prospects for Argentine soybeans were down significantly from previous projections. The USDA forecast 2017-18 production at 47 million tonnes, down 7 million tonnes, or 13%, from the previous month’s projection and off significantly from the previous two years: 19% lower than the 2016-17 outturn of 57.8 million tonnes and 17% lower than the 2015-16 outturn of 56.8 million tonnes.

Turkey’s oilseed output increases 4%
Ram Gopal Yadav (8 years ago)

Turkey’s oilseed production is expected to rise 4% in 2018-19 to 3.06 million tonnes as good returns on cotton and sunflowerseeds are affecting farmers’ planting decisions. Cottonseed production is expected to rise by 8% and sunflowerseed by 2%, while soybean output is expected to remain steady. Total imports of soybeans and soybean meal are expected to reach 3.2 million tonnes in 2017-18.

MMTC to offer pulses through NCDEX e-Markets
Ram Gopal Yadav (8 years ago)

MMTC offer 670 tn tur imported from Africa, 500 tn chana of Australian origin, and 332 tn masur for auction through NCDEX e-Markets. The pulses are stocked at warehouses in Maharashtra, West Bengal, Andhra Pradesh and Tamil Nadu.

Centre OKs procurement of 55,600 tn of tur in Andhra Pradesh on MSP
Ram Gopal Yadav (8 years ago)

The Centre has approved the procurement of 55,600 tn of tur grown in 2017-18 (Jul-Jun) in Andhra Pradesh under the price support scheme to support prices of the commodity. Procurement of tur in the state is already underway and may end on May 1. As of Tuesday, the National Agricultural Cooperative Marketing Federation of India had bought 30,095 tn of tur from farmers in the state. Procurement has begun, as prices of tur started falling below the minimum support prices of 5,450 rupees per 100 kg, inclusive of a bonus of 200 rupees.

Canadian Pulse exports down, grain and oilseeds up
Ram Gopal Yadav (8 years ago)

Exports of Canadian peas were down by nearly a million tonnes between Aug. 1, 2017, and Jan. 31, 2018, compared to the same period last year. Total pea exports during the first six months of 2017-18 were listed at 1.037 million tonnes, down 49 percent from 2.022 million tonnes last year. Year-to-date lentil exports were down almost 78 percent at 130,000 tonnes as of Jan. 31, compared to 578,000 tonnes a year earlier. Lentil exports to India as of Jan. 31 were listed at a meager 57,000 tonnes, compared to 312,000 tonnes last year. Lentil exports to Turkey were also down sharply at 38,000 tonnes compared to 127,000 last year. Sales to Bangladesh were listed at zero compared to 86,000 tonnes in 2016-17.

Coriander prices up in Kota on firm domestic demand
Ram Gopal Yadav (8 years ago)

Prices of coriander rose in Kota, Rajasthan, due to firm demand from stockists for crop containing lower moisture quantity. Arrivals are likely to increase in Madhya Pradesh and Gujarat as harvesting will gather pace in coming days. The most active April contract of coriander on the NCDEX ended 4 rupees higher.

Indore soybean up on low supply, feed sector demand.
Ram Gopal Yadav (8 years ago)

Prices of soybean rose in Indore, Madhya Pradesh, due to a fall in arrivals of the oilseed and higher demand for soymeal from the poultry feed industry. Improved demand from domestic oil millers and crushers is also seen supporting soybean prices. Strong demand for soybean in the US is seen supporting prices on CBOT, boosting prices in the domestic market.