India OKs tur import from Myanmar.
Ram Gopal Yadav (8 years ago)

India, which had capped import of tur at 200,000 tonne earlier this month, has now relaxed the curbs for tur consignments coming from Myanmar for which advance payments had been made prior to the restriction. Tur import consignments from Myanmar for which advance payments were made before Aug 5, and invoices and payment documents have been authenticated by the Myanmar government and banks, allowed to come in despite the import cap. The relaxation comes as a relief to Burmese pulses exporters, which have sold large quantities of tur to India. On Aug 5, India had capped import of tur at 200,000 tonne per annum to check the fall in local prices following a bumper harvest of pulses in 2016-17. The import cap, in effect, was a ban on further imports of tur, as India had imported close to 250,000 tonne of tur during Apr-Jul. The import restrictions on tur are not applicable to imports under bilateral trade agreements.

Uttar Pradesh mills 2016-17 cane arrears 18.3 billion rupees.
Ram Gopal Yadav (8 years ago)

Sugar mills in Uttar Pradesh owed around 18.34 billion rupees to cane farmers as of Tuesday for the season that started Oct 1. So far in 2016-17 (Oct-Sep), mills have paid cane farmers 235.53 billion rupees, out of the total amount of 253.87 billion rupees owed this year. Mills across Uttar Pradesh also owed 3.28 billion rupees as interest on arrears to be paid to sugarcane farmers as of Tuesday. Sugar mills in Uttar Pradesh have collectively paid 99.9% of the total dues worth 206.46 billion rupees for 2014-15, while some private mills are yet to clear arrears of 270.30 million rupees for the year.

India Soybean ends down 1% on improved weather, CPO up.
Ram Gopal Yadav (8 years ago)

Futures contracts of all the components of the edible oil basket, barring soybean, traded higher on domestic exchanges. Soybean futures on the National Commodity and Derivatives Exchange closed about 1% down due to improve in weather conditions in key growing areas of Madhya Pradesh and Maharashtra, the top growers. Recent rains and forecast of more showers in coming days after rounds of dry spells in major growing areas boosted hopes of recovery in yields. Higher arrivals of the oilseed in Madhya Pradesh also weighed on the sentiment.

India Jul mustard seed crushing unchanged on month at 550,000 tonne.
Ram Gopal Yadav (8 years ago)

Oil mills in the country crushed 550,000 tonne of mustard seed in July, largely unchanged from a month ago. The quantum of mustard crushed was largely unchanged in July because of absence of significant demand from oil millers. Oil mills have crushed about 3.5 million tonne of mustard seed since the start of the crushing season in February compared to total arrivals of 3.8 million tonne during the period.

Jaipur mustard seed down on low demand from millers.
Ram Gopal Yadav (8 years ago)

Prices of mustard seed fell in Jaipur because of subdued demand from oil millers. On the NCDEX, the most-active September futures contract of mustard seed were unchanged. In Jaipur, the benchmark market, the oilseed was quoted down 20 rupees from previous close.

Indore soy down on high arrivals, good crop condition.
Ram Gopal Yadav (8 years ago)

Soybean prices in benchmark Indore market was down because of increased arrivals. Arrivals of the oilseed increased on fear of further fall in the prices. Soybean prices are declining in the last few days because of improved crop condition due to recent favorable rains in major growing areas. Futures contract of soybean on the NCDEX also traded lower following spot prices. The most-active October contract traded down 1.1% from previous close.

Sugar prices down in Mumbai on stock cap imposition.
Ram Gopal Yadav (8 years ago)

Prices of sugar fell in the key wholesale markets of Mumbai as implementation of stock-holding limit on mills dampened the sentiment. Sugar stocks in north India are already quite low. Stock limits would ensure slower release by the mills now. The government has imposed stock holding limits on sugar mills for September and October. Sugar mills can hold up to 21% of the total sugar supply of 2016-17 (Oct-Sep) season as of end of September, and 8% of the supply as of end of October.

Centre-South Brazil Aug 1-15 sugar output 3.16 million tonne, up 6% on year.
Ram Gopal Yadav (8 years ago)

Mills in Brazil’s Centre-South region produced 3.16 million tonne of sugar in the first fortnight of August, up 6% compared with 2.98 million tonne in the year-ago period. Centre-South Brazil accounts for over 90% of the country’s total sugar output. Mills in the region crushed 45.29 million tonne of cane during Aug 1-15, up 0.3% on year. The Centre-South region also produced 13.52 bln ltr of ethanol during the period, compared with 14.82 bln ltr in the year-ago period. Of the total cane crushed, around 48.7% was used for sugar production, while 51.3% was used to make ethanol. Mills in the region are likely to produce 35.2 million tonne of sugar this season, compared with 35.6 million tonne in 2016-17 (Apr-Mar).