MMTC to auction tur, urad via NCDEX e-markets on Oct 05.
Ram Gopal Yadav (9 years ago)

MMTC will offer 4,304 MT of tur imported from Malawi and Mozambique, 3,438 MT of masoor imported from Canada and 1,279 MT of urad imported from Myanmar, for auction through NCDEX e-markets. Pulses, to be auctioned, are stocked at Central Warehousing Corp and other godowns in Maharashtra, Gujarat, West Bengal, and Tamil Nadu.

End of EU sugar quota signals dip in consumer prices.
Ram Gopal Yadav (9 years ago)

Consumer prices of sugar are projected to reduce substantially on increased supplies in the global market after the European Union (EU) formally scrapped quotas on the production and sale of the commodity after nearly 50 years. The end of the quotas means that there are no further limits to production or exports, allowing production to adjust to market demand both within and outside the EU. Producers will now have the opportunity to expand their trade on global markets,” Phil Hogan, EU Commissioner for Agriculture and Rural Development, said in a statement following the close of production quotas on September 30. European Commission showed the end of the system will trigger a jump in sugar production. It said that between 2016 and 2026 the bloc’s sugar production will increase by six per cent while production of an alternative sweetener, Isoglucose, could triple from 700,000 tonnes to 2.3 million tonnes. Imports will, on the other hand, continue to drop from 3 to 3.5 million to 1.8 million tonnes and exports are expected to increase from 1.3 million tonnes to 2.5 million tonnes. For the upcoming harvest, no longer bound by the limitations of the quota, an increase in production of roughly 20 per cent (20.1 million tonnes) is expected. This increase results from both an increase in area and higher yields because of good climatic conditions.

FCI to auction 2,075 tn moong via NCDEX e-markets on Oct 05.
Ram Gopal Yadav (9 years ago)

Food Corp of India will offer 2,075.27 tn of moong and 741.60 tn of urad for auction through NCDEX e-Markets. The pulses, to be auctioned, are stocked at godowns in Maharashtra, Andhra Pradesh, Gujarat and Rajasthan. FCI is selling pulses through NCDEX e-markets to dispose off its huge stock built through procurement from farmers and high imports in 2016-17. (Apr-Mar).

Weak rupee against dollar makes imports unviable for India sugar mills.
Ram Gopal Yadav (9 years ago)

The import of raw sugar at 25% duty has become unviable for millers due to the recent weakness of rupee against the US dollar. The government had, on Sep 8, allowed sugar mills and refineries to import 0.3 MMT raw sugar under tariff rate quota at a concessional duty of 25% for a period of 60 days in a bid to tide over any shortages in the run-up to Diwali. Importing sugar was viable when the government had issued a notification allowing imports.

Canada bulk lentil shipments start slow.
Ram Gopal Yadav (9 years ago)

The Canadian Grain Commission (CGC) reports 2,600 metric tons (MT) lentils were loaded for export through licensed facilities which are required to report to it all grain movement in August, compared to 300 MT the same month last year. All the bulk lentil loadings for the month were in Prairie elevator locations. The CGC does not include exports through cleaning plants or in containers. Reviewing lentil shipments by destination for the month, the CGC said 2,000 MT of other grades were shipped to Mexico; and 600 MT of other grade lentils to the United States.

U.P. govt eyeing 10 MMT of sugar production.
Ram Gopal Yadav (9 years ago)

On the back of higher sugarcane acreage this year and record sugarcane payments during 2016-17 crushing season, Uttar Pradesh government has projected sugar production of almost 10 MT in the coming season. This would be almost 15 percent higher compared to sugar production of about 8.75 MT during 2016-17 and total sugarcane payables of Rs 25,386 crore last year. During 2017-18 season, we are confident UP sugar output would touch the record level of a crore tonnes (10 MT).

Canada August bulk pea movement off 67%.
Ram Gopal Yadav (9 years ago)

The Canadian Grain Commission (CGC) reports 94,900 metric tons (MT) field pea were loaded for export through licensed terminal and primary elevators which are required to report to it all grain movement in August. The CGC data does not include exports in containers or from non-reporting terminals. It is important to recall that the CGC data may not match official export data. The CGC counts product when it is loaded to ships, while Statistics Canada bases its calculations on the bill of lading date. The CGC reports exports are down 67% from the 292,000 MT shipped the same month last year. Of bulk peas loaded to for export during the month, 94,300 MT went through Vancouver terminals; and 600 MT were shipped direct from Prairie elevators to destinations in the United States.