NCDEX coriander extends losses on short selling.
Gujarat pegs 2017 groundnut output 3.27 million tonne vs 2.74 million tonne.
Output of groundnut, another major crop in the state, is seen rising 19% on year to 3.27 million tonne. Castor output is estimated to decline 12% on year to 1.11 million tonne. Total oilseed output in the kharif season is seen at 4.54 million tonne, as against 4.16 million tonne a year ago. Guar output in Gujarat, the second largest growing state, is likely to fall 41% on year to 144,000 tonne, as acreage declined to 200,000 ha from 352,000 ha a year ago.
Cotton up on MCX as traders cover short positions
Cotton up on MCX as traders cover short positions
Govt lifts export ban on tur dal, urad, moong with immediate effect.
The government lifted the ban on exports of tur dal, urad, and moong with immediate effect. The export of these pulses allowed only after registration of contracts with Agricultural and Processed Food Products Export Development Authority. The move came in the wake of industry demand to support the falling prices in key markets of the country. Prices of most of the pulses hovered near and mostly below the minimum support levels in the country. The government had earlier capped the import of pulses to boost the domestic prices. The government had capped import of tur at 200,000 tonne per annum and urad and moong at 300,000 tonne each per year.
Sources say China sells 70% of 3.78 mln tn cotton offered in Mar-Aug.
Sources say China sells 70% of 3.78 mln tn cotton offered in Mar-Aug.
Rajasthan government to start pulses procurement from October.
A total of 76 centres for procurement of moong opened in the state. Similarly, 28 centres for urad, 29 for peanuts and 25 for soybean opened. More procurement centres can be opened considering the interests of farmers and demand of people’s representatives. The move was taken considering the interest of farmers in the state so that they get right price for pulses and oilseed crops. Union government has fixed support price of Rs 5,575 per quintal for moong, which includes bonus of Rs 200. The support price of urad has been announced Rs 5,400 including Rs 200 bonus and Rs 4,450 for groundnut including Rs 200 bonus and Rs 3050 per quintal including bonus for soybean.
All-India cotton arrivals up at 7,400 bales as on 14 Sep.
All-India cotton arrivals up at 7,400 bales as on 14 Sep.
Gujarat sees surge 44% in kharif pulses sowing.
As against the national trend, the kharif sowing in Gujarat has shown remarkable growth in pulses sowing with up to about 44 per cent rise in different varieties of pulses. The area under moth beans increase the most by close to 45 per cent to 27,100 hectares as on September 12 as against the three-year average of 18,800 hectares. Other pulses varieties such as moong (green gram), urad and tur witnessed higher acreage by 13-16 per cent. The overall total area under kharif pulses reported an increase of about 8 per cent to 5,60,300 hectares as against 3-year average of 5,21,000 hectares.
Gujarat 2017 cotton output seen down 9% at 7.4 mln bales.
Gujarat 2017 cotton output seen down 9% at 7.4 mln bales.
Chana down in Bikaner on weak demand from mills.
Prices of chana fell in Bikaner, Rajasthan due to a fall in demand from dal millers. On the NCDEX, the most-active October contract was down 0.4% from previous close.
Source says Coffee Board of India to peg 2017-18 crop at record 350,000 tn.
Source says Coffee Board of India to peg 2017-18 crop at record 350,000 tn.
Wheat prices down in Indore due to muted demand.
Wheat prices down in Indore due to muted demand.
India govt wheat stocks at 27.8 MMT Sep1 vs 24.2 MMT in LY.
India govt wheat stocks at 27.8 MMT Sep1 vs 24.2 MMT in LY.
Source says 100,000 MT wheat to arrive at Indian ports by mid-Oct.
Source says 100,000 MT wheat to arrive at Indian ports by mid-Oct.
Taiwan flour millers sign letter of intent to import US Wheat.
Taiwan flour millers sign letter of intent to import US Wheat.
India Sugar selling pressure on mills drags down price in spot markets.
Prices of sugar fell in key wholesale markets of the country amid increased selling pressure on mills. Prices of medium-grade sugar were down by 5 rupees per 100 kg each in the markets of Delhi and Muzaffar nagar, while they were 10 rupees per 100 kg lower in Mumbai and Kolhapur. Millers quoted lower prices as there was no demand at current price levels and mills have to adhere to stock limits.
Texas (U.S.) wheat acreage expected to drop due to low prices.
Texas (U.S.) wheat acreage expected to drop due to low prices.
Spot raw sugar futures on ICE settle down on dry Brazil weather.
October raw sugar settled down 0.06 cent, or 0.4 percent, at 14.27 cents per lb. Some commercial longs are rolling their positions into the March contract. There probably some March and May price fixing going on, too. The premium for white over raw sugar – a measure of the profitability of refining – has recovered only slightly after falling to its weakest in 2-1/2 years this week in the run-up to an expected large harvest in the EU. ICE October white sugar was up $5.70, or 1.5 percent, at $374.70 a tonne.
Floods may cause a loss of Argentina 70,000 hectares of wheat area.
Floods may cause a loss of Argentina 70,000 hectares of wheat area.
2016-17 end soybean stock seen up at record 1.8 million tonne.
India soybean stocks would be at a record high of 1.75 million tonne when the current marketing season ends on Sep 30 because of a bumper output. Stocks are seen rising more than four-fold from 2015-16 (Oct-Sep). All the 13 participants polled rise estimated higher year-on-year ending stocks. Estimates for the season-ending stocks for 2016-17 ranged between 1.0 million and 3.0 million tonne, while those for 2015-16 were in the range of 0.2-1.0 million tonne. Indian farmers harvested 11.49 million tonne of soybean in 2016-17, up from 6.93 million tonne harvested in the previous year. Carryover stocks (for 2017-18) of the oilseed is estimated higher because of a record crop last year and good beginning stocks.
