Govt cuts base import price of all palm oils, soy oil.
Ram Gopal Yadav (9 years ago)

Govt cuts crude palm oil base import price to $719/metric tonne vs $743/metric tonne. Cuts RBD palm oil base import price to $751/metric tonne vs $780/metric tonne. Cuts crude palmolein base import price to $754/metric tonne vs $785/metric tonne. Cuts RBD palmolein base import price to $757/metric tonne vs $788/metric tonne. Cuts crude soyoil base import price to $824/metric tonne vs $851/metric tonne.

Brazil body sees lower soybean output in 2017-18.
Ram Gopal Yadav (9 years ago)

Soybean production in Brazil during 2017-18 is seen at 106-108 million metric tonne and is likely to account for about 89% of the total crops produced in the country. Brazil produced 114 million metric tonne of soybean in 2016-17. Soybean acreage in Brazil is seen at 34.5 million-35.2 million hactare in 2017-18, nearly 3% higher than the previous crop.

China September soybean imports up 13% on year at 8 million metric tonne.
Ram Gopal Yadav (9 years ago)

China imported 8.11 million metric tonne of soybean in September, up 12.8% on year. The country’s import of soybean during the first nine months of this year was also up 15.5% on year at 71.45 million metric tonne. The USDA expects the country to import about 95 million metric tonne of soybean in 2017-2018, up from 92.5 million metric tonne in 2016-2017. The most-active November contract of soybean on the CBOT was at $9.94 per bushel, up 0.2% from the previous close.

Farm minister says Centre to procure kharif urad, moong in Gujarat.
Ram Gopal Yadav (9 years ago)

The Centre has approved the Gujarat government’s proposal for procurement of moong and urad crop grown in 2017-18 (Jul-Jun) kharif season. The central government has given approval for procurement of 16,000 metric tonne moong and 20,750 metric tonne urad from farmers in Gujarat at the minimum support price. The government spend 2.01 billion rupees to procure the pulses. The government has decided to procure the pulses as their prices have fallen below the MSP in key markets of the state Minimum support price for urad in 2017-18 was fixed at 5,400 rupees, including a bonus, and for moong, it was fixed at 5,575 rupees, including a bonus. The government had approved procurement of these pulses in Maharashtra late last month.

Chana down in Delhi, Bikaner on likely higher sowing.
Ram Gopal Yadav (9 years ago)

Prices of chana fell in Delhi and Bikaner due to anticipation of higher sowing of the pulse in this season. Higher imports of chana in September at Mumbai’s Nhava Sheva port are also seen weighing on prices. Chana imports at the Mumbai port in September were estimated at 79,667 metric tonne, compared with 20,832 metric tonne a year ago. Chana November futures on NCDEX were down 1%, tracking the downside in spot market.

Govt mulls 15-18 rupees per kg subsidy on pulses sold to 3 states.
Ram Gopal Yadav (9 years ago)

The government is likely to give a subsidy of 15-18 rupees per kg on pulses to be sold from its buffer stock to Gujarat, Karnataka and Tamil Nadu. The Committee of Secretaries in a meeting have decided on the subsidy of 15-18 rupees. The states had recommended a wide range of subsidy starting from 12 rupees and Karnataka had requested the highest quantum of 18 rupees. The government is likely to offload 700,000 metric tonne pulses from its buffer stock in the coming days. Of this, 350,000 metric tonne be sold to state governments and the rest is expected to be sold through open market sales scheme. Out of the 1.8 million metric tonne buffer stock of pulses, government sell 350,000 metric tonne to these three (Gujarat, Karnataka, Tamil Nadu) states and (another) around 350,000 metric tonne through open market sales scheme.