Egypt and Turkey absorbed 23% of Romanian corn.
ICE sugar at 1-mo low on good harvest in Brazil.
Futures contracts of sugar 11 fell to a one-month low of 13.11 cents a pound on the ICE due to a higher-than-expected rise in the output of sugar in the Centre-South region of Brazil. The October contract of sugar 11 ended at 13.21 cents a pound, down 3.9%, while the most active March futures closed 3.1% lower at 13.91 cents a pound.
All-India cotton arrivals at 19,700 bales on 25 Sep.
All-India cotton arrivals at 19,700 bales on 25 Sep.
Centre-South Brazil Sep 1-15 sugar output 3.1 million tonne, up 29.2% YoY.
Mills in Brazil’s Centre-South region produced 3.13 million tonne of sugar in the first fortnight of September, up 29.2% from 2.42 million tonne produced a year ago. Centre-South Brazil accounts for over 90% of the country’s total sugar output. Mills in the region crushed 45.44 million tonne of cane during Sep 1-15, up 20% on year. During Apr 1-Sep 15, mills crushed 427 million tonne of cane, down 1.6% on year. During the same period, mills produced 26.39 million tonne sugar, up 5.9% on year. Of the total cane crushed, around 48.4% was used for sugar production, while 51.6% was used to make ethanol. Mills in the region are likely to produce 35.2 million tonne of sugar this season, marginally lower than 35.6 million tonne produced in 2016-17 (Apr-Mar).
India coriander futures rise 3% on improved demand.
India coriander futures rise 3% on improved demand.
Fall in arrivals lifts Jaipur mustard seed prices.
Prices of mustard seed rose in Jaipur due to a fall in arrivals coupled with a pickup in demand from domestic oil millers and crushers. Higher carryover stock from 2016-17 season and start of harvesting of kharif oilseeds, however, capped gains in prices.
Rajasthan aims 3.8 million tonne mustard crop in 2017-18, down 4%.
The country’s top mustard producing state, Rajasthan, has set a target of 3.77 million tonne output of the oilseed in 2017-18 (Jul-Jun), 4.3% lower from the output a year ago. Expecting a lower mustard output this year despite some marginal rise in the acreage primarily because of inadequate water for irrigation in key reservoirs in the state. The state faced a dry spell during most part of Jul-Aug, but rainfall has improved this month. However, water level in key reservoirs in the state continues to remain low.
India Soybean ends down 1%; CPO gains on global cues.
Futures contracts of all edible oils, excluding soybean, rose on domestic exchanges, due to improved demand in physical markets. Extending losses from the previous session, soybean futures on the National Commodity and Derivatives Exchange ended around 1% lower due to increasing arrivals in key markets. Increased pace of harvests in the US, the world’s largest soybean grower, also dented sentiments.
Indonesia, India discuss palm oil import duty.
Indonesia and India discussed issues pertaining to the palm oil and pharmaceutical industries during the second Biennial Trade Ministers. Indonesia took up India’s decision to hike import duty on crude palm oil to 15% from 7.5%, and on palm olein to 25% from 15%.
Rajasthan aims 2017-18 chana output at 1.43 million tonne vs 1.39 million tonne.
Production of all rabi crops in Rajasthan, barring chana and barley, is seen lower this year. Among pulses, the state aims around 3% higher chana output at 1.43 million tonne. Rajasthan is the third largest producer of chana in the country.
Akola tur prices tad up on hope of demand revival.
Prices of tur in the benchmark market of Akola, Maharashtra, rose a tad because of expectations of a revival in demand. Expectations of near record output in Karnataka are seen weighing on tur prices. The first advance estimates, production of tur in 2017-18 is estimated at 3.99 million tonne, down from 4.78 million tonne the previous year.
NAFED procures 45 tonne of kharif moong in Telangana.
The National Agricultural Cooperative Marketing Federation of India has so far procured 45 tonne of moong grown in the kharif season under the price support scheme in Telangana. The procurement drive that started in the middle of September was underway in Mahabubnagar, Warangal, Khammam, Zaheerabad, Ranga Reddy and Suryapet districts. NAFED started procuring moong as market prices fell below the minimum support price of 5,450 rupees per 100 kg, inclusive of a bonus.
Rice basmati remains up on increased offtake by stockists.
Rice basmati remains up on increased offtake by stockists.
India basmati rice to remain costlier this year on lower output estimates.
India basmati rice to remain costlier this year on lower output estimates.
EU wheat extends rise on further euro weakening, short covering.
EU wheat extends rise on further euro weakening, short covering.
Telangana govt procures 2,420 tn maize so far; buys to go up in Oct.
Telangana govt procures 2,420 tn maize so far; buys to go up in Oct.
Govt sees 24% jump in sugar production to 25 MT in 2017-18.
The government is expecting about 24 per cent increase in the country’s total sugar output to around 25 million tonnes in the marketing year beginning next month on likely higher output in Uttar Pradesh and Maharashtra following good rains. This is an initial projection based on the inputs of the state governments. The country’s sugar output in the ongoing 2016-17 marketing year (October-September) is estimated to be lower at 20.2 million tonnes because of poor rains. India is the world’s second biggest sugar producer. In a meeting with state cane commissioners called by the Union Food Ministry, official sources said state governments have submitted the sugar production figures after assessing the likely sugarcane output and recovery level. Based on their inputs, the country’s overall sugar output is expected to be around 25 million tonnes in 2017-18 marketing year,
NAFED to auction 9,980 tn moong via NCDEX e-Markets.
NAFED to auction 9,980 tn moong via NCDEX e-Markets.
Adequate stocks drag down India wheat futures by 1.15%.
Adequate stocks drag down India wheat futures by 1.15%.
Delay in monsoon’s retreat postpones sugarcane crushing.
Owing to a sugar shortage in the country, the government had planned to start the crushing of sugarcane ahead of the normal schedule- before Diwali (October 19)- but the delay in the monsoon’s retreat has put paid to this plan. According to the sugar industry, heavy rains are again expected in October in Karnataka and Maharashtra- states where the cane crushing starts first- due to the lingering monsoon. It means labourers cannot access the cane fields as they will be muddy during this period. The National Federation of Cooperative Sugar Factories (NFCSF) has said that the crushing could start from November. There is heavy rain in Karnataka and Maharashtra. Its occurrence in October also will make it impossible for labourers to go into the fields. Due to this, the crushing work is expected to start only in November. However, in case the monsoon recedes completely by mid-October, crushing might start in Karnataka after Diwali. Due to the delay in the monsoon’s retreat, Maharashtra has decided to postpone the cane crushing to November 1.