Delhi chana down on weak buys due to GST confusion.
Ram Gopal Yadav (8 years ago)

Chana prices were down in Delhi as buying of the commodity was affected due to confusion over new amendment in the goods and services tax. Traders were uncertain about the terms on which branded and non-branded items will be distinguished for the purpose of determining the applicable GST rate.

Govt to fund pulses, oilseed farming where wheat-blast hit West Bengal.
Ram Gopal Yadav (8 years ago)

The General Council of National Food Security Mission decided to allocate funds for cultivation of pulses and oilseeds, in those areas of West Bengal, where the wheat crop was affected by blast disease during the 2016-17 rabi season. Growers in the region had burnt the affected crop that was over 1,000 ha in the state. Among other decisions the council also decided to allocate additional funds to encourage pulses cultivation in rice fallow areas of east India. In 2016-17, the number of districts in the country growing pulses was 638, across 29 states, up from 468 districts in 16 states in 2012-13.

Maharashtra seeks Centre OK to start urad, moong buys in 7-8 days.
Ram Gopal Yadav (8 years ago)

With prices of urad falling more than 1,000 rupees below the minimum support price, the Maharashtra government has sought the Centre approval to begin procurement of the commodity. The proposal follows the Latur agricultural produce market committee raising a complaint with the district collector that farmers were forced to sell the new crop below the minimum support price in the absence of government procurement. Farmers have been requested not to bring the produce yet as prices are low, but those in the urgent need of money are compelled so sell it at a lower rate.

Karnataka pegs 2017 tur crop down 45% at 663,000 tonne.
Ram Gopal Yadav (8 years ago)

Production of tur in Karnataka is estimated to have declined 45% on year to 663,000 tonne in kharif season due to sharp fall in acreage and yield. In 2016-17, tur prices had slipped below minimum support price because of a record high output, which prompted farmers to shift to cotton sowing from tur in the current kharif season.

MMTC invites bids for sale of 8,266 tonne tur, 2,963 tonne urad.
Ram Gopal Yadav (8 years ago)

MMTC Ltd has floated a tender to sell 4,211 tonne imported tur from the 2016 Malawi, Mozambique crop and 2,963 tonne urad from the 2016 Yangon, Myanmar crop. The tur and urad are lying at the Central Warehousing Corp in Virungambakkam and Madhavaram in Chennai and National Collateral Management Services Ltd’s M.K, Balaji and PKC warehouses. Bids must be submitted on Sep 19, and opened the same day. The bids remain valid for acceptance till Sep 25. In another tender, MMTC invited bids for sale of 4,055.64 tonne imported tur from Africa and 2,491.56 tonne red lentils imported from Canada.

ABARES pegs Australia 2017-18 chana crop at 1.2 million tonne, down 36% YoY.
Ram Gopal Yadav (8 years ago)

Australia chana production is seen declining 36% on year to 1.19 million tonne in 2017-18 due to a fall in average yield. Although area under chana cultivation is estimated to increase by 4.5% to 1.1 million ha in 2017-18, production is expected to fall as rainfall was below average in the most cropping regions in June and was highly variable in July and August. Most of Australia’s chana is exported to India. In the year ended June, Australia sold a record 1.1 million tonne chana to India. The country’s chana exports to India are likely to fall to 0.8-1.0 million tonne in 2017-18 (Jul-Jun), as Australia’s chana crop is expected to be much smaller on year.

India Sugar prices fall more in north on weak demand.
Ram Gopal Yadav (8 years ago)

Prices of sugar continued to fall in the key wholesale markets of north India due to sluggish demand from bulk buyers. Most importantly, there is no demand. Also, production of sugar in Uttar Pradesh is expected to be higher next year. Sugar output in Uttar Pradesh is likely to rise to a record 10.3 million tonne in the next season starting October from 8.8 million tonne year ago. In the key wholesale markets of Maharashtra, sugar prices were largely unchanged amid lacklustre trade.

ICRA says sugar import at 25% duty may not pull-down prices.
Ram Gopal Yadav (8 years ago)

The government decision to allow import of 300,000 tonne of sugar at a concessional duty of 25% is unlikely to have any significant negative impact on prices of the sweetener in the near term, as the quantum of import permitted is very small. Including the 300,000 tonne of imported sugar, the closing stocks for current season are estimated to be around 4.7 million tonne, which would just be sufficient to meet the requirement of around two months of domestic consumption. The expected carryover stock for 2017-18 was lower than the normative stock level of three months–around 6 million tonne–and last year’s closing stock of 7.8 million tonne. The move to allow imports might also benefit the sugar mills based in west and south India, which are currently under profitability pressure due to low availability of cane.