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.
Dairy body to buy 500 tn maize via e-auction on 22 Sep.
Dairy body to buy 500 tn maize via e-auction on 22 Sep.
Brazil sugar output to hit three-year low, as ethanol hits back.
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.
CBOT corn firms on technical buying.
CBOT corn firms on technical buying.
India Soybean ends up 1%; CPO down on tepid spot buying.
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.
Region in Brazil could cut corn acres by 60%, source says.
Region in Brazil could cut corn acres by 60%, source says.
Supply of seed for chana crops ample for rabi season.
Supply of wheat seed, chana seed and mustard seed is seen in sufficient quantity for upcoming rabi sowing season. The country currently has stock of chana seed is at 192,600 tonne, 21,000 tonne more than required. Govt have Lentil seed 100 tonne short of requirement for rabi sowing. Around 13,600 tonne of lentil seeds is currently available in the country for sowing.
US corn edges lower as ample supplies set to hit market.
US corn edges lower as ample supplies set to hit market.
Chana steady in Delhi on demand-supply parity.
Prices of chana were steady in Delhi as supply was sufficient to meet demand. In Bikaner, prices of chana were also steady while arrivals were pegged unchanged at 300 bags (1bag=100 kg).
Zimbabwe maize reserves at 17-year high 1 mln tonnes.
Zimbabwe maize reserves at 17-year high 1 mln tonnes.
NAFED begins procuring 2017-18 kharif moong to boost domestic prices.
To boost prices of moong in the domestic market, the National Agricultural Cooperative Marketing Federation of India last week started procuring the crop sown during the kharif season this year. NAFED has started procuring it on minimum support price from farmers in Telangana and Karnataka.
NCDEX coriander up on short covering post 5-wk low.
NCDEX coriander up on short covering post 5-wk low.
Farm secretary says 2017-18 tur production seen tad down on year.
India’s tur production for 2017-18 is likely to be slightly lower on year. The farm ministry, in its fourth advance estimate released in August, had predicted India’s 2016-17 tur output at 4.78 million tonne. Tur output is expected to come down slightly, but output of urad is seen higher from last year. A significant decline in area under tur so far is likely to pull down output for the pulse this season but higher acreage under urad is seen raising production. The area under tur crop fell nearly 18% on year to 4.3 million ha as of last week, and that under urad was at 4.26 million ha, up 21% on year.
Coriander up 2% on short covering, low supply.
Coriander up 2% on short covering, low supply.
Tur down in Akola on weak demand; Kalaburagi shut.
Prices of tur in Akola, Maharashtra, declined as demand from millers fell. NAFED sold the pulse at lower rates of 3,800-4,000 rupees per 100 kg in the market which also created bearish sentiment.
All-India cotton arrivals up at 10,100 bales on 18 Sep.
All-India cotton arrivals up at 10,100 bales on 18 Sep.
Indian pulses outpriced in world mkt; exports may take time to begin.
The Centre may have lifted its more than a decade-long ban on export of pulses, but shipments from India take time to start as the domestic produce is out-priced in the global market. There is no parity (in prices) to export pulses currently, particularly in tur as (the) Burmese origin is much cheaper than local rates and Indian exporters can export only after 7-8 months. Tur from Burma is being sold at 2,500 rupees per 100 kg compared with the domestic prices of 4,000 rupees. In the global market, Burmese tur is being sold for $450 per tonne, while urad of the same origin fetches $625 per tonne, cost and freight basis. Moong from Tanzania is priced at $600 per tonne.
Haryana govt gears up for paddy procurement.
Haryana govt gears up for paddy procurement.
Maharashtra pegs 2017-18 tur output dn 43% on low area.
Tur output in Maharashtra for 2017-18 (Jul-Jun) is seen falling 43.3% on year to 1.15 million tonne due to lower acreage and yield. The tur output in the state in the year-ago period was at a record 2.04 million tonne. Farmers have covered lesser area under the pulse this season as tur prices traded below the minimum support price of 5,450 rupees per 100 kg including a bonus of 200 rupees.
Bangladesh govt to procure 50,000 MT of rice from Thailand.
Bangladesh govt to procure 50,000 MT of rice from Thailand.