Sugar output in the country in October is seen at around 300,000-350,000 tonne, lower than 800,000 tonne pegged earlier, as mills in Maharashtra have deferred cane crushing operations to Nov 1.
India basmati prices up in spot on firm demand, low supply.
India basmati prices up in spot on firm demand, low supply.
Surplus sugar output likely for two years.
India is likely to witness surplus sugar production during the next two years on account of a bumper sugarcane crop. According to OP Dhanuka, CMD, Riga Sugar Company Ltd, production of sugar in 2017-18 marketing year (October-September) is likely to be close to 25.5 million tonnes (mt), a growth of 25 per cent over last year on higher sugarcane area. The country’s annual consumption is pegged at 24 mt. It is estimated that the area under sugarcane cultivation is higher at 49.88-lakh hectares this year compared to 45.64-lakh hectares in 2016-17.
Myanmar diesel imports rise as rice exports improve.
Myanmar diesel imports rise as rice exports improve.
Soybean prices fall in Indore due to weak demand.
Prices of soybean fell in the key wholesale market of Indore due to poor demand. Demand from oil millers is low due to poor quality of most arrivals. On the NCDEX, the most active November soybean contract was down 0.1% from the previous close.
Higher rice yields to help Punjab, Haryana offset lower acreages.
Higher rice yields to help Punjab, Haryana offset lower acreages.
NAFED to auction 12,799 tonne mustard via NCDEX e-Markets.
The National Agricultural Cooperative Marketing Federation of India has offered 12,798.68 tonne of mustard seed for auction through NCDEX e-Markets. The oilseed was procured under the price support scheme to support farmers. The pulse is stocked at godowns of Central and State Warehousing Corp in Hissar, Rewari, Mohindergarh, and Narnaul in Haryana.
Moisture delays paddy purchase in Bareilly till mid Oct or Nov first week.
Moisture delays paddy purchase in Bareilly till mid Oct or Nov first week.
India September mustard seed crushing down 6% on month at 425,000 tonne.
Oil mills across the country crushed 425,000 tonne of mustard seed in September, down around 6% from previous month. Crushing of mustard seed in September fell month-on-month because of shrinking arrivals in wholesale markets. Subdued purchases from oil millers and mustard meal exporters also led to lower crushing. Oil mills have crushed about 4.3 million tonne of mustard seed since the start of the crushing season in February compared to total arrivals of 4.6 million tonne during the period.
Punjab, Haryana procure nearly 4 MMT paddy.
Punjab, Haryana procure nearly 4 MMT paddy.
Malaysia CPO up tracking soy oil; output data eyed.
The futures contracts of crude palm oil on Bursa Malaysia Derivatives rose tracking gains in CBOT soy oil futures. The most-active December crude palm oil contract on the Malaysian bourse was at 2,740 ringgits (42,326 rupees) per tonne, up 10 ringgits from the previous close. Crude palm oil is used as a substitute for soy oil, and typically their prices move in tandem. A stronger Malaysian ringgit against dollar, however, checked major gains in crude palm oil futures, as it makes exports of palm oil unattractive for domestic sellers. The investors are waiting for data on crude palm oil production, inventories and exports in September, that is expected to be released this week by the Malaysian Palm Oil Board.
Punjab basmati rice millers meet Jaitley on rationalise taxes.
Punjab basmati rice millers meet Jaitley on rationalise taxes.
Ukraine rapeseed planting progress is 11% ahead of last year.
Planting of winter cereals continues in Ukraine. Planted on 4.626 Million ha by October 04 (64% out of the projected 7.238 million ha). Winter wheat and triticale were planted on 4.257 million ha (69%) against 3.648 million ha in 2016. At the same time, winter barley was sown on .251 million ha (27%) and winter rye on .118 million ha (73%).
Haryana farmers all smiles as long-grained basmati prices double this year.
Haryana farmers all smiles as long-grained basmati prices double this year.
Madhya Pradesh farmers told to start chana sowing.
IMD Agrimet has recommended farmers in Madhya Pradesh to prepare land for sowing of chana. Farmers should sow JG 130, JG218, JG 11, JG 16 and JG 6, wilt-resistant and early varieties of chana, in unirrigated condition. Early sowing would be good for the crop as the seed may utilise available soil moisture in the field. Soil moisture is less this year because of low rains in the state. The south-west monsoon rains were inadequate in the state and may hit the rabi crop sowing.
Wheat prices fall in Indore due to poor demand.
Wheat prices fall in Indore due to poor demand.
FCI to auction 1,307 tonne moong via NCDEX e-Markets.
Food Corp of India offer 1,307.1 tonne of moong and 770.4 tonne of urad for auction through NCDEX e-Markets. The pulses to be auctioned are stocked at godowns in Maharashtra, Andhra Pradesh, Gujarat and Madhya Pradesh. FCI is selling pulses through NCDEX e-markets to dispose of its huge stock built through procurement from farmers and high imports in 2016-17. (Apr-Mar).
Gujarat farmers asked IMD to begin wheat sowing.
Gujarat farmers asked IMD to begin wheat sowing.
NAFED to procure 70,000 tonne kharif urad, moong in Maharashtra.
The National Agricultural Cooperative Marketing Federation of India would procure around 70,000 tonne of pulses, comprising mostly urad and moong, grown in 2017-18 (Jul-Jun) kharif season in Maharashtra. The procurement is being undertaken to boost prices of moong and urad, which have slipped below minimum support prices in key markets in the state. The minimum support price for moong is 5,575 rupees per 100 kg, while that of urad is 5,400 rupees.
U.S. plains HRW wheat steady; rains slow planting.
U.S. plains HRW wheat steady; rains slow planting.