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.
Agrimet advises picking cotton in Haryana this week.
Agrimet advises picking cotton in Haryana this week.
Soybean prices down in Indore on higher arrivals.
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.
India plans its own cotton brand, to revise technology mission .
India plans its own cotton brand, to revise technology mission .
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.
Tur up in Kalaburagi on mills demand; flat in Akola.
Prices of tur in Kalaburagi were up because of a rise in demand from millers. Acreage of tur across the country is down 19% on year at 4.2 million ha. This is also seen supporting the upside in tur prices. The country harvested 9.33 million tonne Chana in the last crop year ended June, up sharply from 7.06 million in the previous year. Traders, however, believe that the government’s data on chana production was inflated, and the crop may have been much smaller, as stocks are low.
India coffee exports during Jan 1- Sep 26.
India coffee exports during Jan 1- Sep 26.
Sugar price up in Mumbai on high demand, down in Delhi.
Prices of sugar rose in the key wholesale markets of Mumbai due to an increase in demand as Maharashtra markets opened after a three-day holiday. Prices of the sweetener, however, fell in the key wholesale markets of Delhi as demand was hit due to police blockades set up in Punjab and Haryana to quell unrest ahead of the announcement of the sentence against self-styled godman Gurmeet Ram Rahim.
All-India cotton arrivals up at 28,200 bales as on 25 Sep.
All-India cotton arrivals up at 28,200 bales as on 25 Sep.
Former farm minister Pawar sees sugar use rising to 30 million tonne by 2020.
The domestic demand for sugar may rise to about 30 million tonne by 2020, up from an estimated consumption of 24.5 million tonne this year. In order to meet the demand of 30 million tonne, the country should record a growth of 3.75% per year in the production of the sweetener.
Gujarat farmers advised to protect cotton from pests.
Gujarat farmers advised to protect cotton from pests.
India NCDEX mustard up 1% on export demand for meal.
Futures contracts of mustard on the National Commodity and Derivatives Exchange rose nearly 1% due to a rise in demand for mustard meal from overseas buyers. The most active October contract of mustard ended up 0.9% from the previous close. Improved demand from domestic oil millers and crushers also supported mustard seed prices.
India plans its own cotton brand, to revise technology mission.
India plans its own cotton brand, to revise technology mission.
ICAR aims to raise oilseed output by 40% to 45mn ton by 2022.
ICAR aims to increase oilseeds production by 40 per cent in the next five years to 45 million tonnes by bringing more area under cultivation and raising crop yield. The increase in oilseeds output would help the country in cutting down import of vegetable oils to less than 50 per cent from the current 70 per cent. India produced 32.1 million tonnes of oilseeds in the 2016–17 crop year (July–June) from 26.21 million hectares at a productivity of 1,225 kg per hectare. The country imported about 14.5 million tonnes of vegetable oils in 2016–17. The institute has identified 17.5 million hectares of fallow land in various states and out of that it wants at least 3.5 million hectares to be brought under oilseeds crop. The ICAR institute has pegged the total vegetable oil requirement at 33.20 million tonnes by 2022 and estimated that 17.03 million tonnes would be available from domestic market and over 16 million tonnes would be imported.