Prices of maize in the benchmark Nizamabad market were steady, after declining in the last few days.Maize prices have fallen by 60-70 rupees over the last few days as arrivals started reaching the markets in other states such Madhya Pradesh and Maharashtra.
India Soybean ends tad higher; CPO up on Malaysian cues.
Futures contracts of the most components of the edible oil basket, barring mustard, traded higher on domestic exchanges due to firm demand in spot markets. After plunging to an over-three-month low, soybean on the National Commodity and Derivatives Exchange closed a tad up due to a pick-up in demand.
Bangladesh to purchase 100,000 tn rice from India
Bangladesh has approved purchase of 100,000 tn parboiled rice from India at $455 per tn under a government-to-government deal.The price includes shipping, insurance, and discharge costs.The rice is to be shipped within 60 days after signing the deal, which is likely to happen soon. Bangladesh, the world’s fourth largest rice producer is importing rice aggressively as floods in the country have hit its rice crop as well as stocks.
India Extractors body seeks hike in import duty on edible oils.
Solvent Extractors’ Association of India (SEA) has once again requested the Centre to increase the import duty on edible oils. The demand for a hike in import duty comes in the backdrop of the Gujarat government’s groundnut procurement at ₹900 per 20 kg.
Malaysia CPO ends up tracking gains in CBOT soyoil.
Futures contracts of crude palm oil ended higher on the Bursa Malaysia Derivatives, tracking gains in soyoil contracts on the CBOT. The contracts ended higher for the second straight day due to an on-month rise in Malaysia’s palm oil exports during Oct 1-25. A strong ringgit against the dollar, however, capped the gains. The most-active January contract of crude palm oil on the Malaysian bourse hit an over one-month high of 2,816 ringgits (43,108 rupees) per metric tonne.
NCDEX soybean hits over 3-month low as arrivals rise.
Futures contracts of soybean on the NCDEX hit an over-three-month low of 2,816 rupees per 100 kg as arrivals rose in major spot markets.
India Low pulse exports create market anxiety.
Sluggish pulse sales to India have some analysts forecasting bourgeoning carryout while others believe there is no cause for alarm. Bulk pea sales are 35 percent below last year’s pace, while bulk lentil shipments are 42 percent behind. Sales are slow due to a myriad of issues in India and fierce competition from the Black Sea region. India is coming off a year where it produced 23 million tonnes of pulses, 20 percent higher than the previous record. It also imported staggering 6.6 million tonnes. India’s pulse warehouses are brimming with supplies.
Coriander prices rise in Kota as acreage seen down.
Coriander prices rise in Kota as acreage seen down.
India rice basmati moves up on stockists buying.
India rice basmati moves up on stockists buying.
MCX cotton declines nearly 1% on profit booking.
MCX cotton declines nearly 1% on profit booking.
Govt extends stock limits on sugar for 6 months till Apr 28
The government has extended the stockholding limit on sugar traders for six more months till Apr 28 to keep prices in check. The stock and turnover limits on sugar were to lapse on Oct 28. In August, the government had also imposed stock holding limits on sugar mills for September and October to ensure mills liquidate excess stock and prices remain in check in a year of tight supplies. India’s sugar output fell to a seven-year low of 20.3 million metric tonne in the year ended September.
US wheat futures firm on technical buying, short-covering.
US wheat futures firm on technical buying, short-covering.
Maharashtra, Gujarat submit cotton seed samples for testing.
Maharashtra, Gujarat submit cotton seed samples for testing.
India Sugar down in Maharashtra on increased selling pressure
Prices of sugar fell in the key wholesale markets of Maharashtra due to increased selling pressure on mills. Cane crushing season is about to begin, so, mills have to pay farmers for the sugarcane they buy so, have selling pressure right now.
MSP hike prevents Indore wheat prices from falling.
MSP hike prevents Indore wheat prices from falling.
Every single grain of bajra will be procured in Haryana.
Every single grain of bajra will be procured in Haryana.
Farmers in quandary as sugar factory decides to down shutters
Delta Sugars Limited (DSL) is all set to down the shutters from the coming cane crushing season that begins in early December, leaving above 2,000 farmers and 350 workers to their fate. The factory management has announced last week that it had decided to shut the factory, owing to above ₹120 crores of loss in the present fiscal.
India’s first shipment of wheat to enter Afghanistan via Chabahar Port.
India’s first shipment of wheat to enter Afghanistan via Chabahar Port.
Procured three times more Bajra than last year, says Haryana govt.
Procured three times more Bajra than last year, says Haryana govt.
UP sugar mills delay cane crushing as molasses stocks pile up
Sugar mills in up have delayed cane crushing as they are sitting on large stock of molasses. At the beginning of the month, mills were carrying around 10 million litre molasses stock with them posing a problem of storage as the new crushing season result in more addition to the existing inventory.