Madhya Pradesh OKs price deficit scheme for 8 kharif crops this year.
Ram Gopal Yadav (8 years ago)

Madhya Pradesh Cabinet approved price deficit mechanism for eight crops in the ongoing kharif season on pilot basis to ensure fair price for the produce. Under this mechanism, the government will compensate farmers the difference between modal price of a crop and its MSP in case the modal price falls below the MSP. Soybean, groundnut, sesame, ramtil, maize, moong, urad and tur crops of kharif have been included in this scheme. Farmers have to register themselves on the government’s portal till Sep 30 to avail benefits under the scheme. The mechanism would ensure fair prices to farmers without the hassles of actual procurement and storage of crops.

NAFED to auction 21,473 tonne moong via NCDEX e-Markets.
Ram Gopal Yadav (8 years ago)

The National Agricultural Cooperative Marketing Federation of India has offered 21,472.8 tonne of moong for auction through NCDEX e-Markets. The pulse is stocked at Central Warehousing Corp and other warehouses in Andhra Pradesh, Madhya Pradesh, Haryana, and Rajasthan. In other tender, the nodal agency is also offering to sell 3.4 tonne of tur, currently stocked at Central Warehousing Corp in Telangana.

Tur down in Latur on subdued demand from dal millers.
Ram Gopal Yadav (8 years ago)

Prices of tur were down in Latur, Maharashtra, owing to subdued demand from dal millers and domestic stockists. An increase in the arrivals of the pulse also weighed on price. Arrivals were estimated at 7,000 bags (1bag=100kg), as compared to 5,000 bags on previous close.

NAFED buys 60,119 tonne chana of 2016-17 crop from 4 states.
Ram Gopal Yadav (8 years ago)

The National Agricultural Cooperative Marketing Federation of India has procured over 60,119 tonne of chana from the 2016-17 (Jul-Jun) rabi crop as of Saturday from four states. Procurement drive in Madhya Pradesh, Uttar Pradesh, Rajasthan, and Haryana. Procurement operations have been reined in as prices have risen above minimum support price in most key spot markets. NAFED has been buying chana under the price stabilization fund since June when prices fell below the minimum support price of 4,000 rupees per 100 kg. The highest quantity–44,094 tonne–has been procured from Rajasthan, where NAFED has 33 procurement centres, while in Madhya Pradesh 14,572 tonne has been bought from 25 centres set across the state.

Traders say 200,000 tonne new Australian chana to reach India Oct-Dec.
Ram Gopal Yadav (8 years ago)

Traders bought Australia chana at $840-$880/tonne for Oct-Dec. About 200,000 tonne of new Australian chana is likely to reach India during Oct-Dec. The Australian chickpea crop is likely to be harvested early this year, and some of that crop has been already tied up for export. About 50,000 tonne Australian chana is likely to reach India in October, another 90,000 tonne in November, and 50,000-70,000 tonne in December. Australian chana prices are likely to fall further in the coming months once rabi sowing in India starts.

India Sugar down in north India due to trade halt in Punjab, Haryana.
Ram Gopal Yadav (8 years ago)

Prices of sugar rose in the key wholesale markets of Mumbai due to an increase in demand as Maharashtra markets opened after a three-day holiday. Prices of the sweetener, however, fell in the key wholesale markets of Delhi as demand was hit due to police blockades set up in Punjab and Haryana to quell unrest ahead of the announcement of the sentence against self-styled godman Gurmeet Ram Rahim.

NAFED procures 94 tonne sunflower seed in Odisha.
Ram Gopal Yadav (8 years ago)

The National Agricultural Cooperative Marketing Federation of India has procured 94 tonne of sunflower seed under the price support scheme in Odisha. The procurement drive, which started in late July, is underway in Eram district and 152 farmers have sold their crop to the agency. NAFED started procuring the crop from growers as market prices fell below the minimum support price of 3,950 rupees per 100 kg, inclusive of a bonus of 100 rupees. The agency has wound up procurement of the oilseed in Haryana and Telangana.

NCDEX soybean down 1% on adequate monsoon rains.
Ram Gopal Yadav (8 years ago)

Futures contracts of soybean fell over 1% due to adequate rains in the key growing areas of the commodity. The most-active October contract on NCDEX traded down 1.7% from previous close. Adequate rainfall on Sunday in the key growing areas of Madhya Pradesh, Maharashtra and Rajasthan is likely to benefit the soybean crop. Weakness in the soybean contract on CBOT also weighed on domestic futures.

Myanmar pulses industry in big danger.
Ram Gopal Yadav (8 years ago)

After fixing the import limits by the Indian government, the largest pulses importer in India, Myanmar pulses Industry of $ 1 billion is in danger. According to sources, the Myanmar Agri Ministry has informed the Indian Embassy there on what the Indian government can do to protect the losses incurred by Myanmar farmers. Significantly, 80 percent of pulses production of Myanmar is exported to India. Sources reveal that in the first week of September, Prime Minister Shri Narendra Modi is visit Myanmar, there is a discussion in this regard. It is worth mentioning that a special team from Tanzania came to India a few days ago to discuss this topic.