Indonesia Palm Oil Association, or GAPKI, expects the country’s crude palm oil production to increase 12.3% to 36.5 million metric tonne in 2017. With the estimated significant increase in palm oil production this year, Indonesia’s exports (of crude palm oil and its derivatives) is expected to reach 30 million metric tonne, up around 20% from last year.
CBOT soybean up on concerns over low US crop yield.
Futures contracts of soybean rose for the third straight day on CBOT on concern over a lower-than-expected yield of the US crop. Contracts also extended gains on the back of good demand for US soybean from China. the January contract was at $9.97 per bushel, up 0.6% from the previous close.
Govt 2017-18 rice purchases at 13.2 million metric tonne so far, up 7.1% on year.
The government has procured 13.2 million metric tonne rice so far in the 2017-18 (Oct-Sep) marketing year at a minimum support price of 1,550 rupees per 100 kg. The procurement is 7.1% higher than 12.3 million metric tonne purchased a year ago due to a higher MSP. The support price of common grade paddy is 1,470 rupees per 100 kg. The procurement was highest in Punjab where the Centre has bought 9.2 million metric tonne rice so far, up from 8.9 million metric tonne a year ago. The second highest contributor to the central pool was Haryana where the government has bought 3.8 million metric tonne rice, up 13.3% on year.
India rice exports during April-August rose 7.4 percent.
India rice exports during April-August rose 7.4 percent from a year earlier to 5.13 million tonnes as shipments of non-basmati rice surged. Non-basmati rice exports jumped 9.4 percent to 3.29 million tonnes, while premium basmati rice exports rose 4 percent to 1.85 million tonnes, the Agricultural and Processed Food Products Export Development Authority said in a statement. India mainly exports non-basmati rice to African countries and premier basmati rice to the Middle East. The country`s buffalo meat exports in April to August edged up 0.2 percent to 503,496 tonnes, while guar gum exports surged 61.5 percent to 218,165 tonnes.
Thailand aims to boost rice exports; India rates dip on fresh supply.
Thailand has exported 8.23 million tonnes of rice since January to September this year and have a target to reach 11 million tonnes in exports by the end of the year. India’s rice exports during April-August rose 7.4 percent from a year earlier, to 5.13 million tonnes, as shipments of non-basmati rice surged. The country mainly exports non-basmati rice to African countries and premier basmati rice to the Middle East.
EU sets Dec 31 deadline to adhere to new Basmati import norms.
European Union has given time to India till December 31 to meet the bloc new norms on importing Basmati rice. The new norms set by European Commission bring down the maximum residue limit (MRL) level for Tricyclazole (a fungicide) in Basmati rice to 0.01 mg per kg from next year. The norms are applicable on all rice-exporting countries.
Haryana farmers told to sow long duration wheat.
Agrimet division of the India Meteorological Department has advised farmers in Haryana to complete sowing of long duration variety of wheat in key growing regions by November end. Farmers should sow PBW 725, PBW 677, HD 3086, WH 1105, PBW 621, HD 2967, WHD 943 and PDW 291 long-duration varieties of the crop.
NCDEX wheat down as import duty hike seen unlikely.
November wheat contract on the NCDEX was down 1% from previous close.
India coffee exports during Jan 1- Oct 31.
India coffee exports during Jan 1- Oct 31.
Mustard seed up in Jaipur on renewed domestic demand
Mustard seed prices were up in Jaipur, Rajasthan, owing to renewed demand from domestic stockists after prices hit a one-week low. A fall in arrivals also supported prices. Sowing has commenced in Rajasthan and Haryana and is likely to improve in the coming days. This capped the gains in mustard seed prices.
Soybean prices up in Indore despite higher arrivals
Prices of soybean in Indore rose due to a slight increase in buying by crushers. Reports of procurement by the Maharashtra government also lifted the sentiment. Reports that Maharashtra has urged the Centre to levy import duty on soybean and soymeal, and to further increase the duty on edible oil imports, are also seen bolstering the sentiment. The most-active December contract of soybean ended 1.6% higher on the NCDEX.
NAFED buys 6,056 metric tonne soybean from farmers
The National Agricultural Cooperative Marketing Federation of India has procured 6,056 metric tonne of soybean, harvested in the kharif season under the price support scheme, from farmers in Rajasthan, Telangana, and Maharashtra.
Russia reduced palm oil purchases by 14% in the 2016/17 season
Palm oil imports to Russia totaled 79.2 KMT in September 2017, or almost 24.3% more than in the previous month (63.7 KMT). However, the purchases are down 11.7% from the same time last year (89.7 KMT).
Soybean harvest in Ukraine is 85% complete.
The harvesting of oilseeds in Ukraine is entering its final phase. As of October 31, sunseed was harvested from 5614 Th ha (95% of the projected 5939 Th ha) with a crop of 11007 KMT and a yield of 1.96 MT/ha (down 10.5% year-on-year). Soybeans were harvested from 1701 Th ha (up 6.8% year-on-year) out of the projected 1991 Th ha. The crop amounted to 3216 KMT with a yield of 1.89 MT/ha (down 13.7% year-on-year).
Most down; coriander up on short covering, low sowing
Futures contracts of spices except jeera and coriander on domestic exchanges ended lower. Coriander futures ended higher because investors covered their short positions after prices hit a three-week low earlier. A likely decline in the area under the spice this rabi season also supported coriander prices.
India first consignment of wheat assistance to Afghanistan.
India first consignment of wheat assistance to Afghanistan.
India wheat strengthen on increased offtake.
India wheat strengthen on increased offtake.
Wheat disease spreads alarm; Bengal bans sowing in 2 border districts.
Wheat disease spreads alarm; Bengal bans sowing in 2 border districts.
EU wheat drifts down as recent gains spur export concerns.
EU wheat drifts down as recent gains spur export concerns.
India rice basmati strengthen on increased offtake.
India rice basmati strengthen on increased offtake.