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.
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.
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.
CBOT corn ends higher in technical bounce.
CBOT corn ends higher in technical bounce.
Rabobank ups palm oil price view by 8% at 2,600 ringgits/tonne Oct-Dec.
Global palm oil prices are likely to find short-term support at 2,600 ringgits per tonne, up 8% from August estimates, by Oct-Dec on the Malaysian bourse. Palm oil price forecast is revised higher due to price run up in third quarter. However, the financial services company estimates a bearish view for 2018. The rise in the inventory in Malaysia and Indonesia in the coming months is likely to keep prices weak. Inventory of palm oil in Malaysia in August rose by 8.9% on month to 1.94 million tonne, the highest levels since March 2016. Lower imports from India and China in the coming months are also likely to keep sentiment bearish. However, the view for soybean and its derivatives is unchanged for Oct-Dec. The bank estimates average soyoil contracts on the Cbot to trade at 33.5 cents per pound and soybean contracts to trade at $9.50 per bushel during Oct-Dec.
Coriander rises 1.13% on spot demand, tight supplies.
Coriander rises 1.13% on spot demand, tight supplies.
Indonesia govt maintains crude palm oil export duty at zero for Oct.
The Indonesian trade ministry has kept the export duty on crude palm oil at zero for October. In September, too, the Indonesian government had not levied any export duty. The reference price for crude palm oil for October was $740.09 per tonne, up from $697.26 per tonne for September but below the export duty threshold of $750 per tonne.
India bajra prices down on subdued demand.
India bajra prices down on subdued demand.
Late monsoon showers caused some damage to the pulses.
Maharashtra farmers are forced to sell their crops below Minimum Support Price (MSP) mainly due to the late monsoon showers which caused some damage to the pulses since the government has not yet started the purchase at MSP. Maharashtra government has requested the center for the procurement of Moong and Urad under MSP as soon as possible the center delays to take a decision the state have to find a way to control the situation. The state has asked the farmers to utilize the state Commodity Mortgage Scheme, where farmers can store their produce and they provided with a warehouse receipt at an interest and can sell their produce when the price gets better.