India wheat futures soften 0.18% on ample stocks in spot markets.
Food Corp sells 60,000 tonne pulses of 395,000 tonne allowed for sale.
The Food Corp of India has sold nearly 60,000 tonne pulses over the 15 days through open market sales scheme. Sale of pulses has picked up now. In a meeting held on Aug 17, government allowed us to sell entire stock of moong, while for other pulses, they allowed sale of the stock purchased more than nine months ago. The central government issued a permit to sell 395,000 tonne of domestically purchased pulses from its stocks. The Centre is selling pulses from its buffer stock by floating tenders under the open market sales scheme to dispose of inventories, which rose sharply due to a bumper output last year followed by high imports.
Russia likely to produce another record wheat crop.
Russia likely to produce another record wheat crop.
Relief for tur importers if deals prior to Aug 5 registered.
Importers of tur, who had signed import contracts prior to a quantitative cap on overseas purchases on Aug 5, can avail relaxation on the import cap if they register those contracts with the government. Such contracts registered by the regional authorities after verifying that companies had entered into contracts prior to Aug 5. The government on Thursday had relaxed the norms by allowing consignments from Myanmar and other exporting countries for which advance payments were made prior to the restriction.
U.S corn exports firm week on week.
U.S corn exports firm week on week.
Shree Renuka Sugars sees India heading for tight sugar supply ’17-18.
The Indian sugar industry is set to witness yet another year of tight supplies despite a 20% rise in output expected in 2017-18 (Oct-Sep), as ending stocks are seen tumbling to multi-year lows. Sugar stocks at the end of October falling to around 1.5 million tonne.
Urad down in Kalaburagi as arrivals of new crop up.
Prices of urad in Kalaburagi, Karnataka, fell as arrivals of the new crop increased amid subdued demand from dal millers. New crop arrivals of urad in Kalaburagi were estimated at 1,000 bags in Gulbarga.
Karnataka farmers advised to use insecticide on maize.
Karnataka farmers advised to use insecticide on maize.
Deadline for tariff quota raw sugar export to US extended to Oct 31.
The government has extended the deadline for export of raw sugar to the US under the tariff rate quota by a month to Oct 31. The US allows duty-free import of 8,424 tonne raw sugar from India under the quota every year. Sugar exports from India through the normal channel attract a duty of 20%. There have been no raw sugar exports so far under the preferential tariff quota for 2016-17 (Oct-Sep).
Tur down in Kalaburagi as govt relaxes import norms.
Prices of tur in Kalaburagi in Karnataka were down as the government relaxed norms for import of the commodity from Myanmar. Importers of tur, who had signed import contracts prior to a quantitative cap on overseas purchases on Aug 5, can avail relaxation on the import cap if they register those contracts with the government.
CBOT corn retreats on forecasts for large US crop.
CBOT corn retreats on forecasts for large US crop.
India sugar prices stable in most spot markets, down in Kolhapur.
Prices of sugar were largely unchanged in the key wholesale markets of Delhi, Muzaffarnagar and Mumbai due to lacklustre trade. Sugar prices, however, fell in the key wholesale market of Kolhapur, as implementation of a stock-holding limit on mills dampened the sentiment.
NAFED buys 60,259 tonne chana of 2016-17 crop from 4 states.
As of Wednesday, the National Agricultural Cooperative Marketing Federation of India had procured 60,259 tonne of chana from the 2016-17 (Jul-Jun) rabi crop from four states. The slowdown in the pace of procurement was due to rising prices in spot markets ahead of festivals.
EU raises maize import tariffs.
EU raises maize import tariffs.
Warana Sugar head sees India 2017-18 output at 22 million tonne.
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.
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.
Ukraine angles for yellow maize export to Kenya.
Ukraine angles for yellow maize export to Kenya.
Govt may extend stockholding limit on sugar traders for 6 months.
The government may extend the stockholding limit on sugar traders for another six months in order to maintain adequate supplies in the market and to keep prices under control. Stockholding limit on traders have to be continued for another six months to prevent hoarding.
Coriander prices fall on muted demand in Delhi.
Coriander prices fall on muted demand in Delhi.
All-India cotton arrivals up at 2,500 bales as on 31 august.
All-India cotton arrivals up at 2,500 bales as on 31 august.