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.
Sugar futures higher following 1 MMT delivery.
Sugar futures higher following 1 MMT delivery.
Mustard seed prices up in Jaipur as arrivals fall.
Prices of mustard seed were up in Jaipur, due to a fall in arrivals coupled with improved demand from domestic oil millers and crushers. Arrivals across the country were estimated at 80,000 bags (1 bag = 85 kg), compared with 110,000 bags on 28 Sep. Farmers are holding their produce in anticipation of a further rise in mustard seed prices. Export demand for mustard meal and seasonal demand for mustard oil in the domestic market, further supported prices.
Maharashtra to finalise schedule for mung and urad procurement on Oct 03.
Maharashtra to finalise schedule for mung and urad procurement on Oct 03.
Groundnut price may top MSP in 2 mos on likely small crop, govt buys.
Groundnut prices are likely to top the minimum support price during the peak arrival season in Oct-Nov, deviating from the norm, buoyed by a smaller crop, procurement in Gujarat, and an uptick in exports Erratic weather conditions due to uneven distribution of monsoon rains in key growing areas have hit the crop this year.
Tur up in Akola, Kalaburagi shut on Dussehra holidays
Tur up in Akola, Kalaburagi shut on Dussehra holidays
NCDFI to buy 22,000 tn maize via e-auction Oct 25.
NCDFI to buy 22,000 tn maize via e-auction Oct 25.
Maharashtra to finalise schedule for soybean procurement on Oct 03.
Maharashtra to finalise schedule for soybean procurement on Oct 03.
Argentina scraps corn export quotas.
Argentina scraps corn export quotas.
Govt approves procurement of soybean in Maharashtra, Rajasthan.
Govt approves procurement of soybean in Maharashtra, Rajasthan.
Delhi chana up on slight recovery in demand.
Prices of chana in Delhi were slightly up because of a recovery in demand. However, chana futures on the NCDEX were down because of expectations of rise in the acreage this season amid less than expected demand for the pulse in the festive season. The most active October futures were down 0.4%.
India coffee exports during Jan 1- Sep 27.
India coffee exports during Jan 1- Sep 27.
Dal millers ask govt to allow export of chana, masoor.
Dal millers across the country have requested the government to allow exports of chana, masoor and moth pulses as prices have slumped below the minimum support levels due to higher production. India had produced about 26-27 million tonne pulses in 2016-17 and imported 5.7 million tonne. The country consumes about 25-26 million tonne of pulses in a year. Currently, masoor is ruling below the minimum support price of 3,950 rupees. Prices are also hovering at lower levels as various government agencies that had procured 1.5-1.8 million tonne of pulses are now offloading their stocks in the market.
Sow chana after soybean harvest in Malwa, says Agrimet.
IMD Agrimet division has advised farmers in Malwa region of Madhya Pradesh to sow chana immediately after harvesting soybean as there is enough residual moisture in soil. The state Agrimet division has also asked farmers in Satpura region to harvest matured soybean and groundnut as the dry weather is seen in the next two days.
Chhattisgarh targets 8% rise in 2017-18 rabi pulses crop.
Chhattisgarh has set a pulses production target of 740,360 tonne for the 2017-18 (Jul-Jun) rabi season, up 8% from the previous year, due to expectations higher acreage. The government is encouraging farmers to bring more area under the crop by increasing minimum support price on key pulses this season. The targeted area under rabi pulses has been set at 910,000 ha, against 869,940 ha last year. Sowing of pulses this season is seen higher because the crop requires less water.
NAFED to auction 3,884 tonne urad via NCDEX e-Markets.
The National Agricultural Cooperative Marketing Federation of India has offered 3,884.06 tonne of urad for auction through NCDEX e-Markets. The pulse is stocked at Central Warehousing Corp and other godowns in Uttar Pradesh, Rajasthan, and Gujarat.
Tur down in Mumbai, Kalaburagi on mills low demand.
Prices of tur in Mumbai and Kalaburagi were down because of weak demand from millers and expectations of a near-record crop in 2017-18.
India Sugar down in north India on low demand; flat in Maharashtra.
Prices of sugar fell in the key wholesale markets of north India due to subdued demand and selling pressure on mills to clear stocks before the upcoming crushing season. Expectations of a rise in production this season has also dampened the sentiment for the sweetener and is keeping prices subdued. Mills are quoting lower prices to trigger demand as they have to clear stocks before the crushing season starts at the end of October. In other key wholesale markets of Maharashtra, sugar prices remained unchanged amid thin trade.
ISMA may transport molasses from UP to Tamil Nadu.
Sugar industry body ISMA is considering transporting excess molasses in the mills of Uttar Pradesh to those in Tamil Nadu, where a drought-hit sugarcane crop is threatening to keep sugar mills and their ancillary units idle and deepen losses. Indian Sugar Mills Association (ISMA) is deliberating on the feasibility of transporting the excess molasses to millers in Tamil Nadu so that it can be processed to make ethanol and other by-products, thereby helping them cut losses.
Adequate stocks drag down India wheat futures.
Adequate stocks drag down India wheat futures.