Sugar prices gain, as Brazil tax move spurs talk of political favor.
Ram Gopal Yadav (9 years ago)

Sugar prices extended their revival, returning above 14 cents a pound at one point, after Brazil unveiled a 20% tax on Brazil ethanol imports, in the latest of a series of moves by the top producing country of the sweetener deemed potentially positive for values. Raw sugar futures for October stood 2.1% higher at 13.95 cents pound in midday deals in New York, taking close to 8% the contract revival from a mid-month low. Earlier the contract touched 14.06 cents a pound.

US ethanol market criticizes Brazil decision to levy 20% import tariff.
Ram Gopal Yadav (9 years ago)

US ethanol market participants and trade groups decried the Brazilian government decision to levy a 20% tariff on ethanol imports above 600 million liters. Brazil, the second largest ethanol producer in the world, began importing large volumes of ethanol in 2016 as high sugar prices made the sweetener more attractive to sugarcane mills than ethanol. Through June, the US exported over 1.045 billion liters of ethanol to Brazil. That could mean that any further exports to Brazil would be subject to the 20% tariff. But it does not appear that exports from earlier this year above the 600-million-liter level would be affected by the tariff.

Chana prices rose in spot and NCDEX 1.25 per cent.
Ram Gopal Yadav (9 years ago)

Chana prices rose by 1.25 per cent to Rs 5,855 per quintal in futures trading as traders built up fresh positions amid uptick in demand in the spot market.The rise in chana prices in futures trade to fresh positions created by participants after pick up in demand in the spot market.

Kabuli gram, arhar rise on stockists’ buying.
Ram Gopal Yadav (9 years ago)

Prices of kabuli gram and arhar rose by Rs 100 per quintal at the wholesale market on revival of buying by stockists amid pick-up in demand from retailers. Fresh buying by stockists backed by uptick in demand from retailers against restricted supplies from producing belts mainly led to the rise in kabuli gram and arhar prices.

Myanmar blames India for restricting pulses import quota.
Ram Gopal Yadav (9 years ago)

Yangon has blamed New Delhi for restricting import of three major pulses from Myanmar, saying that the move has plunged Burmese pulses industry into chaos. In August, India announced a 200,000-ton import quota on pigeon peas and 300,000-ton quota on mung bean and green grams. The severe restriction by India limiting the amount of pea products from Myanmar has quickly and adversely affected the Burmese pulses market. The restriction would help support prices of lentils in India but would put pressure on producers in Myanmar who rely heavily on export to India. Myanmar has been exporting peas to India for nearly three decades, while India exported medicines, sugar and agricultural machinery to Myanmar. Yangon’s commodity depot has ceased operation due to India’s import quota restriction on pulses, prompting the pulse prices to plummet.