Chana down in Delhi on weak demand, high arrivals.
Ram Gopal Yadav (9 years ago)

Prices of chana fell in Delhi due to a decline in demand from dal millers and a rise in arrivals. On the NCDEX, the most-active October contract traded down 2.4% from previous close. Gram and tur declined sharply in Nagpur on poor buying support from local millers amid increased arrival from producing belts.

Pea yields fall in US as drought in the US Northern Plains.
Ram Gopal Yadav (9 years ago)

Drought problems continue to plague the chickpea crop in Australia. The Australian Bureau of Agricultural and Resource Economics predicts this year’s chickpea production drop by 36 percent. Production is expected to drop by nearly 700,000 tonnes or 45 percent over last year. Lentils are also having a tough time. This year’s harvest is expected to fall by 41 percent to 338,000 tonnes. Drought in the US Northern Plains is cited as one of the key factors behind the drop. The total Canadian pea carryout for the current marketing year is projected to hit 400,000 tonnes, which would surpass the previous estimate of just 50,000 tonnes.

Malaysia CPO down on strong ringgit, soy oil cues.
Ram Gopal Yadav (9 years ago)

Futures contracts of crude palm oil on the Bursa Malaysia Derivatives were down tracking losses in CBOT soy oil and a strong ringgit against the dollar. Expectations of rise in palm oil output in 2018 have further dampened the market sentiment.

India Sugar up in north India on value buying; unchanged in Maharashtra.
Ram Gopal Yadav (9 years ago)

Prices of sugar rose in the key wholesale markets of north India as demand increased at lower price levels. Sugar prices have remained low for many days now, so, we witonneessed some rise in demand at lower prices. Prices of the commodity have been falling since the beginning of September on account of increased selling pressure on mills as the government imposed stock limits on them. Prices of the sweetener were, however, largely unchanged in the key wholesale markets of Maharashtra in a lacklustre trade.

Govt source says Davangere Sugar surrenders raw sugar import quota.
Ram Gopal Yadav (9 years ago)

Davangere Sugar Co Ltd has surrendered the quota allocated to it by the Directorate General of Foreign Trade for import of raw sugar. The company, which has a refining capacity of 500 tonne per day, had applied for 20,000 tonne raw sugar import. The Directorate General of Foreign Trade, however, allocated 6,190 tonne raw sugar to the company. Davangere (Sugar) had opted out of the quota on Sep 14, and licence has not been issued to it. If an applicant fails to bring in sugar after obtaining a licence, they would have to pay a penalty of 0.5% of the value of the unutilised quota.

Raw sugar import to ease shortage in south mills.
Ram Gopal Yadav (9 years ago)

With Tamil Nadu facing a shortfall in sugar production in 2017-18 (October-September), local markets are witnessing the arrival of stocks from Karnataka and Maharashtra. Mills in Tamil Nadu will process about 1.40-lakh tonnes of the imported raw sugar, Karnataka 1.10-lakh tonnes, Andhra Pradesh 34,000 tonnes, and Maharashtra 5,900 tonnes. Tamil Nadu mills have welcomed the move to import raw sugar, as it adds a bit to the capacity utilization and revenue in the coming season. The shortage of cane in Tamil Nadu, due to the extended dry spell in recent years, means mills will be working at less than 30 per cent of capacity. The imported raw sugar represents a small addition, about 12-15 days of processing capacity. Given the present pricing, with sugar selling at about 38 rs a kg, mills estimate they will be able to turn a profit of about ₹1-1.50 a kg on the processed raw sugar.

Rise in arrivals weigh on Jaipur mustard seed prices.
Ram Gopal Yadav (9 years ago)

Mustard seed prices fell in Jaipur due to a rise in arrivals, coupled with lacklustre demand from domestic oil millers and crushers. Higher carryover stock from the 2016-17 season and start of the harvest season for kharif oilseeds also creates bearishness in the market.