Centre-South Brazil Aug 16-31 sugar output 2.5 million tonne, down 0.5% YoY.
Ram Gopal Yadav (8 years ago)

Mills in Brazil Centre-South region produced 2.54 million tonne of sugar in the second fortonneight of August, down 0.5% compared with 2.55 million tonne produced in the year-ago period. Centre-South Brazil accounts for over 90% of the country’s total sugar output. Mills in the region crushed 38.91 million tonne of cane during Aug 16-31, up 0.8% on year. In Apr-Aug, mills crushed 381.52 million tonne of cane, down 3.6% on year. During the same period, mills produced 23.26 million tonne sugar, up 3.4% on year. Mills in the Centre-South region also produced 15.29 bln ltr of ethanol during the period compared with 16.54 bln ltr in the year-ago period. Of the total cane crushed, around 48.5% was used for sugar production, while 51.5% was used to make ethanol.

Bangladesh Govt set to import 50,000 tons of sugar at Tk211 crore.
Ram Gopal Yadav (8 years ago)

The government is set to import 50,000 metric tons of sugar, in order to control the market and meet shortages in the country. The sugar imported through London based firm ED&F Man Sugar Limited at a rate of $470 with per ton, resulting in a total cost of Tk 211.32 crore. The retail price of sugar has now dropped to Tk56 per kg from Tk60 one month ago, while packed sugar is selling at Tk65 per kg as compared to Tk69 a month earlier. The annual demand for sugar in Bangladesh is at 1.5 million tons. About 7-8% of this is produced by 15 state-run sugar mills, while the rest is imported from the private sector.

NCDEX October mustard seed futures up on short covering.
Ram Gopal Yadav (8 years ago)

The October contract of mustard seed was up on NCDEX as investors covered their short positions after the contract hit a four-week low. The most-active October contract was up 0.8% from the previous close. Prices fell in the last six trading sessions due to higher carryover stocks of the oilseed from the 2016-17 season.

Soybean prices down in Indore as arrivals pick up.
Ram Gopal Yadav (8 years ago)

Soybean prices fell in Madhya Pradesh benchmark market of Indore because arrivals of the new crop picked up pace. Extending gains from the past few sessions, soybean contracts traded higher on the NCDEX due to reports of lower-than-expected production in 2017-18. The most active October contract of soybean on the NCDEX was up 0.6% from the previous close.

Market Players sees India ’17-18 soy crop 8.9 million tonne, down 15%.
Ram Gopal Yadav (8 years ago)

After a stellar start to monsoon this year, the prolonged dry spell in Jul-Aug has taken a sizeable toll on kharif crops, soybean. This may lead to an over 12% decline in the country’s overall output of summer-sown oilseed crops. Soybean is the largest hit oilseed crop and we expect production this kharif season to fall by 15% to 8.9 million tonne. Expect soybean production in Madhya Pradesh to fall to around 5.0 million tonne from 5.4 million tonne and in Maharashtra to 3.8 million tonne from around 4.0 million tonne a year ago. However, the carry-forward stock of the oilseed from the current year is likely to shoot up to around 1.2 million tonne from 460,000 tonne a year ago, which keep supply comfortable next year. Overall oilseeds production in the kharif season is expected to be at 14.4 million tonne, down 2 million tonne from a year ago.

GAPKI sees ’17 Indonesia palm oil export to India unchanged at 5.7 million tonne.
Ram Gopal Yadav (8 years ago)

Indonesia palm oil exports to India in 2017 are estimated to be around 5.7 million tonne, largely unchanged from last year, despite a recent duty hike on import of palm oil in India. Prior to the duty hike in India, exports were good to the country. In Jan-Jun, Indonesia exported 3.4 million tonne palm oil to India. India doubled the import duty on crude palm oil to 15%. Market participants said Indonesia palm oil output is seen rising to 35.5 million tonne this year from 32.5 million tonne in 2016.