NAFED procures 21 tonne of kharif moong in Telangana.
Ram Gopal Yadav (8 years ago)

The National Agricultural Cooperative Marketing Federation of India has procured 21 tonne of moong grown in the kharif season under the price support scheme in Telangana. The procurement drive, which started last week, was underway in Mahabubnagar, Warangal, Khammam, Zaheerabad and Ranga Reddy districts. Fresh arrivals of the crop have started in the state and peak up in a fortonneight. NAFED started procuring the moong as market prices fell below the minimum support price of 5,450 rupees per 100 kg, inclusive of a bonus.

Akola tur down on weak demand, govt sale.
Ram Gopal Yadav (8 years ago)

Prices of tur at Akola in Maharashtra were down because of weak demand and sale of the commodity by government agencies. In Mumbai, lemon tur was down 50 rupees and in Kalaburagi, a key market, it was down by 150 rupees.

NCDEX chana futures down tracking spot market.
Ram Gopal Yadav (8 years ago)

Futures contracts of chana were down on the NCDEX as prices fell in the spot market. The most active October contract was down 2.5%. However, prices are unlikely to fall further due to expectations of rise in the demand in the coming days ahead of festivals.

India Sugar down in Mumbai, Muzaffarnagar amid sluggish buying.
Ram Gopal Yadav (8 years ago)

Prices of sugar fell in the key wholesale markets of Mumbai and Muzaffarnagar due to poor demand for the commodity. Festival demand is also not expected currently as most people fast during Navratri. However, there might be a rise in demand during Dussehra. Selling pressure among mills due to the stock limit of 21% also weighed on prices.

Bitter Diwali as sugar prices likely to remain high.
Ram Gopal Yadav (8 years ago)

Sugar prices are likely to range between Rs 45 and Rs 50 per kg in the retail markets during the festive season as major sugarcane cultivating states, Maharashtra and Uttar Pradesh, start the crushing season only from November 1. At a meeting of the committee of ministers in charge of co-operatives in Maharashtra, it was decided that the state would also join Uttar Pradesh in delaying the start of the crushing season. The Maharashtra government had asked the central government to provide a subsidy of Rs 500 per tonne of sugarcane crushed in the month of October on the grounds that the cane harvested early would have less sucrose content.

Kingsman cuts 2017-18 Brazil sugar output forecast.
Ram Gopal Yadav (8 years ago)

Kingsman has scaled down its forecast for sugar production in Brazil largest cane growing Centre-South region by 300,000 tonne to 36.1 million tonne in 2017-18. Production in the region accounts for more than 90% of the country’s sugar output. sugar output would represent a fall of 2.1 million tonne on year, and would be the lowest since the 31.22 million tonne produced in 2015-16. Sugar production in Centre-South Brazil is seen declining in 2018-19 to 34 million tonne due to an ongoing drought. Kingsman also lowered its global sugar surplus forecast for 2017-18 by 1 million tonne to 3.87 million tonne due to damage to the crop from hurricanes in Cuba.

Mustard seed down in Jaipur on low oilcake demand.
Ram Gopal Yadav (8 years ago)

Prices of mustard seed were down in Jaipur due to a fall in demand for oilcake as well as its edible oil. Sluggish export demand for mustard meal, lower demand of oil in the domestic market, and an increase in arrivals of the commodity are also seen weighing on prices. The most active October contract on NCDEX ended flat. NCDEX adds Tonk to list of mustard delivery centers.