ISMA seeks inclusion of sugar in FTAs with neighbouring countries.
Ram Gopal Yadav (8 years ago)

India Sugar Mills Association has, in a letter to the commerce ministry, sought inclusion of sugar in bilateral free-trade agreements with neighbouring countries as India would need to export the commodity from 2018-19 (Oct-Sep) onwards on expectations of higher output. The sugar body expects 2018-19 and 2019-20 to be surplus sugar years, as a result of which domestic prices of the sweetener may crash. Low sugar prices may also lead to the problem of higher cane arrears in the country. Commerce ministry had asked for our opinion on how to increase sugar exports as they are framing an agriculture exports policy. The sugar body has suggested the commerce ministry to include sugar in the bilateral free-trade agreement between India and Bangladesh. Bangladesh should also “be convinced to give preferential import duty for India sugar.

India govt OKs 10,000 tn sugar export in preferential quota to EU 2017-18.
Ram Gopal Yadav (8 years ago)

Government allowed export of 10,000 tn white sugar to the European Union under preferential quota for the new marketing year starting October. Under the quota, the export of sugar to the EU is allowed at zero duty. Sugar exports from India through the normal channel attract a duty of 20%. The government has pegged India’s sugar output in the new season starting October at 24.5-25.0 mln tn, higher than 20.17 mln tn produced a year ago.

Sugar futures higher following 1 MMT delivery.
Ram Gopal Yadav (8 years ago)

Sugar futures rise following a 1 MMT sugar delivery against the October contract. Raw sugar for March up 1.9% at 14.36 cents a pound on the ICE Futures U.S. exchange. Bulky deliveries such as this occur when the physical market is uninteresting enough to make the deliverer use the exchange as a last resource.

Maharashtra to finalise schedule for mung and urad procurement on Oct 03.
Ram Gopal Yadav (8 years ago)

The farm ministry officials of Maharashtra will finalise the schedule to procure moong, and urad. The Centre approved the state government’s decision to procure new crop moong and urad, prices of which fell below the MSP earlier this month. Moong and urad prices in the state are also 10% below their MSPs. The state marketing federation will implement the procurement on behalf of state government.

Govt approves procurement of soybean in Maharashtra, Rajasthan.
Ram Gopal Yadav (8 years ago)

Centre has approved Maharashtra and Rajasthan governments proposal for procurement of soybean grown in the 2017-18 (Jul-Jun) kharif season. The central government has given approval for procurement of 100,000 tn soybean from farmers in Maharashtra and 150,000 tn of the oilseed from Rajasthan at MSP. The move comes as prices of the oilseed have fallen below the minimum support price in key markets. Prices may decline further with arrivals seen rising October onwards.

India soybean down 1% on low spot demand, CBOT cues.
Ram Gopal Yadav (8 years ago)

The futures contracts of all components of the edible oil basket fell on the domestic exchanges due to tepid buying in spot markets and low trade ahead of the extended weekend. Futures contracts of soybean on the National Commodity and Derivatives Exchange closed nearly 1% lower due to subdued purchases in the wholesale markets

NCDEX to exclude 1% cash discount on Apr mustard from Feb 5.
Ram Gopal Yadav (8 years ago)

NCDEX will exclude 1% cash discount on mustard spot polling price, effective from Feb 5. The decision by the exchange is taken in order to align the polled prices with the physical market price where cash discount is deducted while making payment. NCDEX polled spot prices with the discount will be applicable on contracts expiring in April and thereafter.