Prices of chana rose in Delhi due to improved demand from dal millers and domestic stockists. In Bikaner, chana was quoted at 3,850 rupees per 100 kg, unchanged. The rise in prices was also because the central government has raised the import duty on chana for the third time so far in 2017-18 (Apr-Mar) to 60% from 40%. The most active March futures on the NCDEX were up 32 rupees.
USDA winter wheat conditions show only limited improvement.
USDA winter wheat conditions show only limited improvement.
Skymet warns of rains, hailstorms in Madhya Pradesh
Madhya Pradesh may receive rains and thunder showers with “light hailstorm” over the next two days. Rains are likely over Bhopal, Dewas, Guna, Indore, Jabalpur, Jhabua, Katni, Mandsaur, Narsimhapur, Neemuch, Panna, Raisen, Rajgarh, Ratlam, Sagar, Sehore, Shahdol, Shajapur, Ujjain, Umaria and Vidisha districts of Indore in the next 48 hours. Madhya Pradesh is one of the largest wheat producing states in India and rains and hailstorm at this time may damage the mature crop.
Wheat rally sees GASC paying 3% more for April cargoes
Wheat rally sees GASC paying 3% more for April cargoes
Indonesia to retaliate against India’s high palm oil import duty
Indonesia will impose higher import duties on several Indian products in retaliation to the latter’s high import duty on palm oil. Starting Mar 1, India raised import duties on crude palm oil and refined, bleached and deodorised palmolein to 44% and 54%, respectively, from 30% and 40% previously. Indonesia’s Coordinating Ministry for Economic Affairs, other related ministries and the palm oil industry have been discussing the possible response to India’s move.
Egypt’s GASC seeks wheat for April 5-15 shipment.
Egypt’s GASC seeks wheat for April 5-15 shipment.
Soybean down in Indore on sluggish demand, CBOT cues
Soybean prices in Indore fell because demand was sluggish as prices have risen after the government raised import duty on palm oil and refined bleached deodorized palmolein. Weakness in soybean contracts on CBOT also weighed on domestic prices. The most-active April contract on NCDEX was down 35 rupees.
Madhya Pradesh extends rabi registration for price-deficit scheme.
Madhya Pradesh extends rabi registration for price-deficit scheme.
Mustard seed up in Jaipur on lower output view.
Prices of mustard seed rose in Jaipur, the benchmark market, as production of the oilseed in the country has been pegged lower in 2017-18 (Jul-Jun). A fall in arrivals also supported prices of mustard seed.
Wheat prices flat in spot mkts, marginally down on NCDEX.
Wheat prices flat in spot mkts, marginally down on NCDEX.
Sugar cess a partial solution: Will protect mills/farmers, but need reforms in Uttar Pradesh etc.
Sugar cess a partial solution: Will protect mills/farmers, but need reforms in Uttar Pradesh etc.
Mustard seed up in Jaipur on higher arrivals
Prices of mustard seed fell in the benchmark market of Jaipur, Rajasthan due to a rise in arrivals. Weak demand from domestic oil millers and crushers also weighed on prices.
Ethiopia retenders for 400,000 tonnes of milling wheat.
Ethiopia retenders for 400,000 tonnes of milling wheat.
India soybean ends 1% higher on demand in spot mkts
Futures of soybean and refined soyoil traded over 1% higher on the National Commodity and Derivatives Exchange because of rise in demand in wholesale markets. Expectation of a hike in import duty on soyoil, in line with palm oil, also boosted the sentiment on the Indian exchange.
Myanmar govt to help in upgrade of rice quality as exports hit high.
Myanmar govt to help in upgrade of rice quality as exports hit high.
Rise in import weighs on barley prices in Jaipur
Prices of barley fell in Jaipur, Rajasthan, as imports of the grain rose following concerns over quality of domestic stocks. Lacklustre demand from the malt industry also weighed on barley prices.
Rice importation still needed, says Philippine Rice Research Institute.
Rice importation still needed, says Philippine Rice Research Institute.
Tur prices steady in Akola; Kalaburagi mkt closed
Prices of tur were steady in Akola as supply of the pulse in spot markets was sufficient to meet the limited demand. Prices of tur at Kalabuargi were unavailable as markets were shut on account of local festivitie.
Spot sugar price down on weak demand from bulk buyers
Spot sugar price down on weak demand from bulk buyers
NAFED procures 402,049 tn of tur at MSP across four states
The National Agricultural Cooperative Marketing Federation of India procured 402,049 tn tur across Karnataka, Maharashtra, Telangana, and Andhra Pradesh as of Sunday. The federation began procuring the commodity as market prices had plunged below the minimum support price of 5,450 rupees per 100 kg due to higher arrivals of the fresh crop and subdued buying by dal millers. The agency procured 256,754 tn of tur in Karnataka, 75,300 tn in Telangana, 62,741 tn in Maharashtra, and 7,254 tn in Andhra Pradesh. So far, the agency has bought tur from 317,231 farmers across these states, through about 750 centres.