Delhi chana up on rise in demand ahead of festivals
Ram Gopal Yadav (9 years ago)

Chana up due to demand from dal millers ahead of festivals, amid limited supplies. Though the arrivals are unchanged in Delhi, they are inadequate to meet the current demand. Arrivals of chana in Delhi were pegged at 525 tonne, unchanged from Saturday, while in Bikaner, it was 700 bags (1 bag =100 kg) up from 500 bags.

Moong, urad may soar 6-8% Wed on govt import curbs
Ram Gopal Yadav (9 years ago)

Prices of urad and moong are likely to soar 6-8% in key markets after the government decided to cap the import of the commodities at 300,000 tonne a year. The government’s decision to cap import on pulses was taken after traders sought restrictions on import to ensure better prices for the domestic crop.

Government caps import of urad, moong at 300,000 tonne per year
Ram Gopal Yadav (9 years ago)

Government has capped the import of urad and moong at 300,000 tonne per year, decision comes after traders urged the government to impose restrictions on import of the grains to ensure better prices for the domestic crop. Sowing of moong, however, has slowed down due to poor rains in the major growing states of Karnataka and Maharashtra. On Aug 5, the government had notified an import limit of 200,000 tonne per year for tur. It had also imposed an import duty of 10% on tur in March, which raised hopes of similar duties on import of urad and moong.

Sugar slump pressures Brazilian mills.
Ram Gopal Yadav (9 years ago)

Decline in sugar and oil prices over the past six months has diminished the hope of financial recovery for a number of Brazilian mills, and could put new deal making in the sector on hold, according to industry experts. Raw sugar prices in New York were hovering around 13 cents per pound, down around 40 per cent since the fourth quarter of 2016, to a level analysts and millers say is close to production costs in Brazil centre-south. The price pressure on sugar and ethanol could cut short a nascent financial recovery for many Brazilian mills during a global sugar supply deficit in 2015 and 2016. It could also slow down talks between millers and potential investors and lead to more closures of indebted firms.

Global body ups 2017-18 sugar surplus estimate to 4.6 million tonne vs 3 million
Ram Gopal Yadav (9 years ago)

International Sugar Organization has raised its estimate for global sugar surplus in 2017-18 (Oct-Sep) sharply to 4.6 million tonne from 3 million tonne projected in June. The world sugar balance is forecast to show a surplus after two seasons of deficit” as the projected global output of sugar is higher than the consumption. Global sugar body has estimated the world sugar output in 2017-18 at 179.30 million tonne, up nearly 7% on year, led by likely higher production in India, European Union, Thailand and China. Globally, sugar available for export is expected to rise by 1.91 million tonne to 62.15 million tonne led by rising production in exporting countries, while the import demand for the sweetener in 2017-18 is seen at 57.62 million tonne.

India Sugar poor demand drags down sugar prices in north India.
Ram Gopal Yadav (9 years ago)

Prices of sugar fell in the key wholesale markets of north India due to sluggish demand from bulk buyers. Mills are quoting lower prices to trigger demand as crushing is expected to start earlier than usual in 2017-18 (Oct-Sep) and so they want to clear their stocks and book profits. Prices of the sweetener remained steady in the key wholesale markets of Maharashtra today amid thin trade.

Sri Lanka ups sugar import tax on low global prices.
Ram Gopal Yadav (9 years ago)

Sri Lanka raised import tax on sugar by 8 Sri Lankan rupees (3.3 Indian rupees) per kg on Tuesday as prices of the sweetener declined in global markets. Prices of sugar in international markets are currently low due to a rise in output in Brazil, among the world’s largest producers and exporters of the commodity. Mills in Brazil Centre-South region produced 3.41 million tonne sugar in the second fortnight of July, up 9.5% from 3.12 million tonne in the year-ago period, the country sugarcane industry association.

Jaipur mustard seed at 4-mo high on seasonal demand.
Ram Gopal Yadav (9 years ago)

Seasonal demand for mustard oil has lifted seed prices to a four-month high in Jaipur, the benchmark market for the oilseed. Demand for mustard oil increases during rainy season, thereby improving demand for the seed. A fall in arrivals coupled with improved demand from domestic oil millers and crushers also supported prices.

NCDEX soybean up on crop concerns in Madhya Pradesh.
Ram Gopal Yadav (9 years ago)

Futures contracts of soybean on the NCDEX were up due to concerns over a drop in output after below-normal rainfall in parts of Madhya Pradesh. The most active October contract on NCDEX was up 0.2% from the previous close. Madhya Pradesh, the country largest soybean producer, has so far received 492.4 mm rainfall, 22% below normal. There are also concerns of crop damage due to insect attacks in some parts of the state. Prices also rose taking cues from the benchmark contracts on the CBOT, which were up due to stronger-than-expected weekly data on US soybean exports.