Maharashtra sugar mills seek rejig of loans for 10 years.
Ram Gopal Yadav (9 years ago)

Sugar millers are now seeking restructuring of loans for a period of 10 years. Heavy rains in the last few days have made it difficult for them to advance the crushing operations. The millers have also sought government guarantee to enable some of the mills to procure loans from banks since several mills are in a bad shape. Several mills in the state owe dues to the tune of Rs 2,600 crore. Nearly 50% of the mills in Maharashtra has the capacity to crush 2,000-2,500 tonne per day. These are making losses to the tune of Rs 10-20 crore. Those with a higher capacity are incurring losses of about Rs 30-40 crore for the season.

Global sugar prices seen falling 24% on year 2017-18.
Ram Gopal Yadav (9 years ago)

Global prices of raw sugar are estimated to fall 24% on year to 13 cents a pound (1 pound = 0.45 kg) in 2017-18 (Oct-Sep) due to higher supplies. Global sugar production is expected to increase 7% on year to a record 190 million tonne, slightly higher than the forecast in June. The output in Brazil, the world’s largest producer, is seen increasing 1% to 40 million tonne in 2017-18, and 47% of the cane crushed is expected to be allocated for sugar production, up from 46% in 2016-17. Sugar production in India is expected to be around 27 million tonne in 2017-18, up 11% on year. Global sugar stocks are seen up 7% at 76 million tonne in 2017-18, as production is seen increasing faster than consumption.

Brazil sugar output to hit three-year low, as ethanol hits back.
Ram Gopal Yadav (9 years ago)

Sugar production in Brazil key Centre South region drop to a three-year low next season as a dearth of replanting takes its toll on cane yields, and with ethanol raising its take of the harvest. Kingsman pegged sugar output in the Centre South, which is responsible for more than 90% of output in the top producing country, at 33.99m tonnes for 2018-19, on an April-to-March basis. Sugar output at that level would represent a fall of 2.1m tonnes year on year, and would be the lowest since the 31.22m tonnes produced in 2015-16. The decline would represent a double whammy of a lower cane crush, seen dropping to a four-year low of 575.0m tonnes, and a lower proportion of cane being processed into sugar rather than ethanol.

India Soybean ends up 1%; CPO down on tepid spot buying.
Ram Gopal Yadav (9 years ago)

Futures contracts of edible oils on the domestic exchanges traded mixed. Soybean and soyoil futures traded higher while mustard and crude palm oil were down. Soybean futures on the National Commodity and Derivatives Exchange ended around 1% higher, bolstered by a pick-up in demand for soymeal produced from the fresh crop.

Indore soy prices fall on rise in new crop arrivals.
Ram Gopal Yadav (9 years ago)

Soybean prices in Indore, Madhya Pradesh fell, as arrivals of the new crop rose. Arrivals of new soybean crop were at around 1,000 bags (1 bag = 100 kg), higher than 700 bags the previous day. Poor rainfall in Madhya Pradesh during the initial months of the Jun-Sep monsoon is not likely to hit yield much, as adequate intermittent rainfall in September is seen helping. However, good demand for the oilseed ahead of festival season prevented any further fall in prices.

NCDEX mustard seed at 1-mo low on subdued demand.
Ram Gopal Yadav (9 years ago)

The September contract of mustard seed hit a one-month low on NCDEX due to subdued demand from domestic oil millers and crushers. On NCDEX, the most-active October contract was down 0.16% from previous close. Higher carryover stock from 2016-17 season and start of harvesting of kharif oilseeds weigh on market sentiment. Stocking of mustard oil for consumption during Durga Puja has already been procured by traders, which has reduced demand for mustard seed.

NCDEX marks 2,150 tonne mustard for staggered delivery.
Ram Gopal Yadav (9 years ago)

NCDEX has marked 2,150 tonne of mustard seed, 850 tonne of cottonseed oilcake, 440 tonne of castor seed, and 255 tonne of jeera for staggered delivery in the September contract. The exchange also marked 230 tonne of turmeric, 160 tonne of coriander, 60 tonne of chana, 20 tonne wheat, and 10 tonne of barley for staggered delivery in the same-month contract.

Govt source says India aims 75,000 ha more under oil palm by FY19.
Ram Gopal Yadav (9 years ago)

India aims to bring around 75,000 ha of additional land under oil palm plantation by 2018-19 (Apr-Mar) to boost production of palm oil in the country. Efforts are being made to increase domestic production in the country. Andhra Pradesh, the largest palm oil producing state, has 156,000 ha under the crop. Karnataka, Tamil Nadu, Mizoram and Odisha are other major states where oil palm is cultivated. The plant is also grown in parts of Chhattisgarh, Gujarat, Assam, Arunachal Pradesh Nagaland, Telangana, Kerala and Goa.

Government looks to dispose of 18 lakh tonnes pulses from buffer stock.
Ram Gopal Yadav (9 years ago)

Saddled with a buffer stock of 18 lakh tonnes of pulses. The government is trying to dispose of the dals and asked entities, including cooperative NCCF, to do the needful. For the first time, the government had last year decided to create a buffer stock of pulses to ensure better prices to farmers and at the same time use the stock to augment local supply in times of price rise. About 20 lakh tonnes of buffer were created through local procurement and imports.