Indian Sugar Exim Corp to launch electronic spot trading in 3 months.
Ram Gopal Yadav (9 years ago)

Indian Sugar Exim Corp plans to launch a national spot electronic platform for trading in sugar. The platform available to traders, millers, and whoever is interested in buying or selling sugar. Going forward, the platform may integrate with futures and the export-import market. The exchange should provide a transparent platform for spot price discovery.

Food minister says to take decision on sugar import soon.
Ram Gopal Yadav (9 years ago)

The government is likely to soon take a decision on import of sugar to augment domestic supplies, as stocks are expected to fall to critically low levels. Government soon take a decision on the need to import sugar, Food Minister Ram Vilas Paswan posted on microblogging site Twitter. The government had taken an in-principle call to allow import of duty-free sugar, and modalities of import would be finalized soon. The government may be looking at another round of duty-free import also because it doesn’t want prices to rise ahead of the festival season.

Farmers across India are sowing more cotton, less oilseeds and pulses.
Ram Gopal Yadav (9 years ago)

As September comes around with the promise of the first harvests in a few weeks, data released by the Ministry of Agriculture on Friday indicate that the overall kharif season sowing acreage as of the end of August is 0.5% less than the previous year. This year, farmers across India have moved decisively away from what were once profit-making crops such as oilseeds as well as jute, whose profit margins continue to remain insignificant. The equilibrium in sowing acreage comes almost entirely from an 18% increase in cotton acreage and 9% increase in sugarcane acreage. Farmers across the country have chosen to invest more in cotton this year. The highest increase comes from Telangana, which has sown 18.24 lakh hectares of cotton against last year’s 12.5 lakh hectares, representing a 5% increase.

Moong down in Jaipur as supplies increase.
Ram Gopal Yadav (9 years ago)

Prices of moong in the benchmark market of Jaipur were down, as supplies in local markets increased. Although arrivals in Kalaburgi are unchanged from previous close, they were higher from a week ago, and this was seen creating bearish sentiment. A sharp fall in prices of pulses was prevented because of concern about a smaller lower crop in Rajasthan and Karnataka.

Warana Sugar head sees India 2017-18 output at 22 million tonne.
Ram Gopal Yadav (9 years ago)

India sugar production in 2017-18 (Oct-Sep) is set to fall short of even the most conservative of government estimates, of 23.5 million tonne, Kolhapur-based Warana Sugar Ltd told in the Sugar Conclave-2017 being held in the city. Warana estimate for sugar output is more than 6% below the lower end of the food ministry projection of 23.5-24.0 million tonne and 12% lower than the Indian Sugar Mills Association estimate of 25.1 million tonne.

NCDEX chana down as exchange imposes 5% margin.
Ram Gopal Yadav (9 years ago)

Futures contracts of chana on NCDEX were down for the third straight day as the exchange has imposed 5% additional margin on buy and sell positions. The most active September contract traded down 2.7% from the previous close. According to traders, speculators have reduced their positions as well as exposure which is the result of easing demand due to adequate stocks present in the spot market.