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.
Rajasthan farmers told to sow chana after Oct 15.
IMD’s Agrimet division has advised farmers in Rajasthan to delay sowing of key rabi crops chana and mustard till Oct 15, and wait for the temperature to fall below 35 degrees Celsius to start sowing.
Haryana aims 1.1 MMT rabi oilseeds in 2017-18 vs 945,000 MT yr ago.
Haryana aims 1.1 MMT rabi oilseeds in 2017-18 vs 945,000 MT yr ago.
Prices of urad down in Akola on sluggish demand.
Prices of urad down in Akola on sluggish demand.
NAFED begins procuring moong in Karnataka to help support prices.
The National Agricultural Cooperative Marketing Federation of India started procuring moong sown during the kharif season in Karnataka from Oct 03. After demand from the Karnataka government, started procuring moong from farmers in two districts of the state under the price support scheme, adding that the agency is already buying moong in Telangana since middle of last month.
NCDEX soybean down for 5th day on new crop arrivals.
NCDEX soybean down for 5th day on new crop arrivals.
FAO says India Jan-Sep non-basmati rice export prices up 7.2% on yr.
FAO says India Jan-Sep non-basmati rice export prices up 7.2% on yr.
Canadian farmers turn to pulse crops to satisfy India.
Canadian farmers intend to plant more peas and lentils than ever before, as strong Indian demand stokes interest in pulse crops, according to a Reuters industry poll ahead of a government report. Pulses amount for a fraction of Canada’s planted area compared to wheat and canola. But this year they have been the talk of the western Prairies as farmers made seeding plans. Back-to-back droughts in India, the world’s largest importer of edible oils and pulses, has boosted prices and made pulses attractive to Canadian farmers. Pulses are an important protein source in the Indian diet.
CBOT soybean up as rains delay harvest in US.
CBOT soybean up as rains delay harvest in US.