Futures contracts of crude palm oil on the Bursa Malaysia Derivatives ended over 1% higher due to a month-on-month rise in the country’s palm oil exports in December. Cargo surveyor Intertek Agri Services estimated Malaysia’s palm oil exports for December at 1.42 mln tn, up 6.7% on month. The most active March contract of crude palm oil on the Malaysian bourse hit a two-week high of 2,548 ringgits (40,259.83 rupees) per tn earlier, while the March contract settled 1.2% higher at 2,532 ringgits.
Maize export ban still affecting farmers in Malawi.
Maize export ban still affecting farmers in Malawi.
Coriander up in Kota on low arrivals, firm demand
Prices of coriander rose at the benchmark market of Kota in Rajasthan due to a fall in arrival and firm demand from spices makers. Upside in prices however, is likely to remain limited due to higher carryover stocks. The most active January contract of coriander on NCDEX traded at 5,560 rupees per 100 kg, up 0.8% from the previous close.
Kenya loses 5 million bags of maize yearly to poor post-harvest handling.
Kenya loses 5 million bags of maize yearly to poor post-harvest handling.
Sugar prices unchanged in Maharashtra on thin trade.
Prices of sugar were stable in the key wholesale markets of Maharashtra amid lacklustre trade. Prices had risen yesterday (Monday). Right now, there is no demand and mills are also holding the same prices.
Karnataka Oct-Dec sugar output at 1.62 mln tn, up 9.8% on year
Mills across Karnataka produced 1.62 mln tn sugar during Oct-Dec, up 9.8% from 1.47 mln tn produced a year ago. The mills in the state crushed 16.61 mln tn of sugarcane, higher than 14.73 mln tn crushed during the same period last year. The average sugar recovery from cane in Karnataka, one of the top sugar-producing states, was 9.7% during Oct-Dec, slightly up from 9.6% a year ago. The state has pegged sugar output for the ongoing season at 2.6 mln tn, up 23.8% on year. Mills in Karnataka produced 2.1 mln tn sugar in 2016-17.
Uttar Pradesh Oct-Dec sugar output 3.3 mln tn, up 24% on year
Mills in Uttar Pradesh have produced 3.32 mln tn of sugar during Oct-Dec, 24% higher than 2.68 mln tn produced a year ago. 116 sugar mills out of 119 were crushing cane in the state. Mills in Uttar Pradesh–the country’s top cane-producing state–have crushed 32.78 mln tn of sugarcane during Oct-Dec, compared with 27.15 mln tn a year ago. The average sugar recovery from cane as of Dec 31 was at 10.14%, up from 9.87% a year ago.
Traders may default on 150,000 tn chana deals on import duty levy
The imposition of 30% import duty on chana by the government recently is likely to hit deals of around 150,000 tn of the commodity that has been largely contracted from Australia. About 40,000-50,000 tn Australian chana out of the 150,000 tn shipments in transit have been diverted to other destinations such as Dubai, Pakistan and Bangladesh. A sharp fall in domestic chana prices despite a levy of import duty has made these deals unfeasible now.
Chana prices tad up on demand from dal millers
Chana prices were slightly up in Delhi due to improved demand from dal millers. The most active January contract traded up by 19 rupees from the previous close.
Cold wave to make up for loss of wheat yield due to delay in sowing in Punjab, Haryana.
Cold wave to make up for loss of wheat yield due to delay in sowing in Punjab, Haryana.
Sudan to end wheat subsidies, private sector to handle imports
Sudan to end wheat subsidies, private sector to handle imports
Chicago wheat futures rise on cold weather in early trading.
Chicago wheat futures rise on cold weather in early trading.
Ukraine increased corn starch production by 38%.
Ukraine increased corn starch production by 38%.
Kenya govt asked to pay promptly for maize deliveries.
Kenya govt asked to pay promptly for maize deliveries.
Bajra trades higher on scattered demand.
Bajra trades higher on scattered demand.
Kazakhstan almaty region expanding oilseed plantings
Oilseed plantings and yields in Almaty region, the Republic of Kazakhstan, gained almost 10%. Total oilseed output exceeded 300 KMT. Roughly 4 KMT was shipped abroad.
Pakistan Soybean oil imports increase 71.93pc in 5 months
Edible oil imports including soybean and palm oil during five months of current financial year grew by 71.93 percent and 29.24 percent respectively as compared the corresponding period of last year. During the period from July-December 2017-18 109,366 metric tons of soybean oil worth of US$ 98.519 million imported to fulfill the domestic requirements as against the import of 37,845 metric tons valuing US$ 57.303 million of same period last year.
Meat demand grows, U.S. soybean sales suffer
U.S. exports of feed crops already were expected to drop this year as producers in South America and Europe expand sales. But after some lousy weather in the Midwest this year, the harvest yielded soybeans with less protein. While U.S. exporters often have to contend with Brazilian soy that is higher in protein at around 37%.
Coriander, jeera falls on subdued demand
Coriander and jeera prices fell by Rs 100 per quintal at the wholesale kirana market in the national capital today on easing demand from retailers and stockists amid adequate stocks. Besides, fresh arrivals from producing regions and weakening trend in futures market put pressure on the select spice prices. Coriander prices declined by Rs 100. Coriander futures fall 1.88% on weak demand.
India wheat up as import duty hike rumours fuel demand.
India wheat up as import duty hike rumours fuel demand.