EU sets Dec 31 deadline to adhere to new Basmati import norms.
Ram Gopal Yadav (9 years ago)

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.
Ram Gopal Yadav (9 years ago)

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.

CBOT wheat up on short covering post recent fall.
Ram Gopal Yadav (9 years ago)

Futures contracts of wheat on the CBOT rose as investors covered their short positions after prices fell over 4% in the last six trading days. Prices of wheat had declined as planting in the key growing regions in the US is almost complete and the harvest is expected to add to the existing glut in the global market. December contract of wheat on the CBOT was at $4.2025 per bushel (1 bushel = 27.2 kg), up 0.5% from the previous close.

NCDEX coriander hits 1-week high tracking spot markets.
Ram Gopal Yadav (9 years ago)

Futures contracts of coriander hit a one-week high on NCDEX, tracking gains in spot markets in Rajasthan. The front-month November contract was up 1.4%, while the most-active December contract of coriander traded 1.5% higher on NCDEX. Prices rose following a decline in arrivals in spot markets. Arrivals declined as farmers in the state remain busy preparing their land for rabi sowing.

US winter wheat crop condition worse than expected.
Ram Gopal Yadav (9 years ago)

The winter wheat crop in the US is in a worse condition than expected. Around 52% of the wheat crop is in good or excellent condition, lower than expectation of 59% and also worse than 58% a year ago. wheat sowing in the US was 84% complete, slightly lower than 85% a year ago.

NAFED buys 14,219 metric tonne groundnut in shell
Ram Gopal Yadav (9 years ago)

The National Agricultural Cooperative Marketing Federation of India has procured 14,219 metric tonne of groundnut-in-shell in Gujarat and Rajasthan under the price support scheme. NAFED started procuring the crop from growers as market prices fell below the minimum support price of 4,450 rupees per 100 kg, inclusive of a bonus of 200 rupees.

Soybean ends higher on bargain buying, CBOT cues
Ram Gopal Yadav (9 years ago)

Futures contracts of all components of the edible oil basket rose significantly on domestic exchanges. Soybean on the National Commodity and Derivatives Exchange closed 2.5% higher, bolstered by strong buying at lower price levels by stockists and crushing plants.

Indonesia to retaliate against EU discriminative palm oil policy.
Ram Gopal Yadav (9 years ago)

The Indonesian government has issued a fresh threat to European Union countries that it would stop importing milk powder, wine and Airbus aircraft if the bloc continues discriminating against palm oil in its market. European parliament started a trade war by passing a resolution earlier this year that accused oil palm plantations of causing deforestation. EU discriminatory policy on palm oil is actually a matter of competition in the global market between palm oil and vegetable oils produced in the EU. The Indonesian government does not subsidise palm oil, there is no dumping practice either.

Soybean harvest in Ukraine is 85% complete.
Ram Gopal Yadav (9 years ago)

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
Ram Gopal Yadav (9 years ago)

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.