Govt approves procurement of soybean in Maharashtra, Rajasthan.
Ram Gopal Yadav (9 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 (9 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 (9 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.

Mustard seed prices up in Jaipur as arrivals fall.
Ram Gopal Yadav (9 years ago)

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.

Groundnut price may top MSP in 2 mos on likely small crop, govt buys.
Ram Gopal Yadav (9 years ago)

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.

India Soybean settles 1% lower tracking weakness in CBOT.
Ram Gopal Yadav (9 years ago)

Futures contracts of most of the components of the edible oil basket, barring crude palm oil, fell on the domestic exchanges tailing losses in international markets. Prices on the international exchange fell due to likely rise in yields of soybean in the US. Increased arrivals of the new crop in the domestic market amid favourable weather also pushed prices down. Taking cues from soybean, refined soyoil on the NCDEX fell because of subdued purchases in the wholesale markets amid huge availability following higher imports.

Soybean prices down in Indore on higher arrivals.
Ram Gopal Yadav (9 years ago)

Prices of soybean in the benchmark market of Indore, Madhya Pradesh were down due to an increase in the new crop arrival. However, good demand because of festival season has prevented prices from falling further. Prices are likely to fall in the coming months, as arrivals pick up pace. Futures contracts of soybean on the NCDEX also fell tracking losses in spot markets. The most active November contract of soybean ended down 0.7% from the previous close.

Delhi chana up on slight recovery in demand.
Ram Gopal Yadav (9 years ago)

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%.

Dal millers ask govt to allow export of chana, masoor.
Ram Gopal Yadav (9 years ago)

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.
Ram Gopal Yadav (9 years ago)

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.
Ram Gopal Yadav (9 years ago)

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.