NAFED procures 2,317 metric tonne soybeans from farmers.
Ram Gopal Yadav (9 years ago)

The National Agricultural Cooperative Marketing Federation of India has procured 2,317 metric tonne of soybean harvested in the kharif season under the price support scheme from farmers in Rajasthan, Telangana, and Maharashtra. NAFED begun procurement operations after market prices fell below the minimum support price of 3,050 rupees per 100 kg.

Rabi crop total acreage rises to 3.9 million ha vs 3.1 million ha year ago.
Ram Gopal Yadav (9 years ago)

India’s rabi sowing has started with the total area under key crops of the season rising to 3.86 million ha till last week from about 3.10 million ha around the same time last year. Sowing of rabi crops is higher this year because late rain over different parts of the country has boosted soil moisture level that supported planting. India had produced 137.2 million metric tonne foodgrain in the rabi season of 2016-17 (Jul-Jun). The total area under rabi pulses was around 1.1 million ha and that under oilseeds was 900,000 ha.

NAFED procures 12,859 metric tonne urad, 33,976 metric tonne Moong at MSP.
Ram Gopal Yadav (9 years ago)

The National Agricultural Cooperative Marketing Federation of India had procured 12,859 metric tonne of urad and 33,976 metric tonne of moong sown during the kharif season across the country, said an official with the federation. Procurement of pulses from growers in Rajasthan, Telangana, Karnataka, and Maharashtra was underway at the minimum support price under the price support scheme. Higher arrivals of the fresh urad crop and low demand from millers had pushed prices below the minimum support price in many markets.

Drought-hit Chhattisgarh says sow oilseed, pulses, avoid rabi paddy.
Ram Gopal Yadav (9 years ago)

Drought-hit Chhattisgarh has asked farmers to switch to oilseeds and pulses during the upcoming rabi season from water-intensive paddy. The state government has given out advisories asking farmers to sow wheat, maize, mustard, chana this rabi season, as these crops require lesser water compared with paddy. This time around, there not enough water available for paddy cultivation, as water level in Chhattisgarh’s two key reservoirs–Minimata Bangoi and Mahanadi–is running precariously low due to poor monsoon rains.

Brazil boosts ethanol output, cuts cane used for sugar
Ram Gopal Yadav (9 years ago)

Brazilian mills increased the amount of cane used for ethanol production in the first half of October, and reduced sugar output, taking advantage of better pricing for the biofuel as sugar prices remain weak. Mills in the center-south region, increased the amount of cane they used to produce ethanol to 56 percent in the first half of this month from 53 percent late in September and compared with 50 percent early in October last year. Sugar production of 1.97 million tonnes in the first half of October was 12.2 percent lower than in the same period a year earlier, while ethanol output of 1.57 billion liters was 11.6 percent up.

CBOT soybean up on short covering after 2-week low.
Ram Gopal Yadav (9 years ago)

Futures contracts of soybean were up on the CBOT as investors covered their short positions after the contracts hit a near two-week low of $9.7275 per bushel. The contracts fell after the USDA, in its weekly crop progress and conditions report said as of Oct 22, 70% of the US soybean crop across select states was harvested, compared with 49% a week ago. The most-active November contract of soybean on the CBOT was at $9.83 per bushel, up 0.8% from the previous close.

India NCDEX mustard hits 7-month high as govt hikes MSP.
Ram Gopal Yadav (9 years ago)

The November contract of mustard on the National Commodity and Derivatives Exchange touched a nearly seven-month high due to a rise in minimum support price. Futures contracts of mustard have largely been on a rise in the past couple of weeks and are likely to trade higher. In the long term too, prices of the oilseed are seen rising, supported by firm demand for mustard oil with the advent of winters.