Govt turns down Tamil Nadu sugar mills transport cost subsidy request.
Ram Gopal Yadav (9 years ago)

The government has turned down the request of millers in Tamil Nadu for financial assistance in the form of reimbursement of transportation costs to help them secure raw sugar from other states. Sugar mills in Tamil Nadu are keen on sourcing raw sugar from Uttar Pradesh and Maharashtra, which are expected to produce a surplus in 2017-18 (Oct-Sep), to improve availability of the sweetener in the state. The move would also aid capacity utilization of mills in the state, and reduce their losses. The mills had also urged the government to help cut their loss by restructuring their bank loans.

SOPA sees India 2017-18 soybean area down 6.4% at 10.3 million ha.
Ram Gopal Yadav (9 years ago)

Soybean area in the country is likely to fall 6.4% on year to 10.3 million ha as farmers shifted to other crops lured by better realisations, citing results of their first crop survey of the 2017-18 (Jul-Jun) sowing season. Overall area in Madhya Pradesh (largest soybean grower) has decreased by 11% and the shift is to other crops like urad, moong, and maize. About 13.5% of the standing soybean crop in the country is in very poor condition, 57% is in fair condition, 17.4% of the crop is in good condition and the rest of the 12% is in very good condition. Some crop in Khandwa, Khargone and Barwani districts of Madhya Pradesh have suffered moisture stress because of lack of rains in the last 20-25 days and as a result yields may suffer. In line with Madhya Pradesh, area under soybean has also declined in Rajasthan. Soybean acreage this year in the state is seen at 920,000 ha, down from 980,000 ha a year ago.

NCDEX mustard up 1% due to demand ahead of festivals.
Ram Gopal Yadav (9 years ago)

Futures contracts of mustard seed on the NCDEX rose over 1% because of high demand from millers ahead of the festival season. The most active September contract of mustard on the NCDEX was up 1.1% from the previous close. The demand from end user consumer rises in the northern and eastern part of the country during the festival, which may support the prices to trade higher in the near term. Prices rose also because of improved demand on the back of lean season of the oilseed. Buying has increased now, as millers fear supplies may fall further in coming days because of lean season. In Rajasthan benchmark market of Jaipur, mustard seed was up 5-10 rupees from previous close.

NAFED to auction pulses via NCDEX e-Markets.
Ram Gopal Yadav (9 years ago)

The National Agricultural Cooperative Marketing Federation of India has offered 385.30 tonne of moong, 23.75 tonne urad, and 3.39 tonne of tur for auction through NCDEX e-Markets. The moong, urad, and tur being offered are stocked at warehouses in Andhra Pradesh, Uttar Pradesh, and Telangana, respectively.

India Jul pulses import at Chennai port down 23% on M-O-M at 57,048 tonne.
Ram Gopal Yadav (9 years ago)

Import of pulses at Chennai port fell 22.7% on month to 57,048 tonne in July. Imports of pulses declined in July as domestic prices were lower compared with those in global markets. Demand from millers was also subdued in July which led to the fall in imports. The decline in imports was led by a sharp fall in shipments of tur, moong and urad.

Delhi chana at 4 months high on urad, moong import curbs.
Ram Gopal Yadav (9 years ago)

Prices of chana in Delhi rose to a four-month-high of 5,900 rupees per 100 kg, following the government move to cap the import of urad and moong at 300,000 tonne a year. On the NCDEX, the most-active September contract was up 1.7% from previous close. Prices in both markets Delhi and Bikaner were up 150-200 rupees.

Urad, moong up 300-500 rupees/100 kg on import curbs.
Ram Gopal Yadav (9 years ago)

Prices of urad and moong rose 300-500 rupees per 100 kg in key markets after the government capped imports of the pulses at 300,000 tonne a year. The government has imposed restrictions on import to support prices, which continue to remain below the minimum support price.