Argentina corn area to reach second consecutive record.
India Govt allows export of 122.2 tonne pulses to Maldives.
India has allowed export of 122.23 tonne of pulses to Maldives under a bilateral trade agreement between the two countries. The export of the two commodities is exempt from any existing or future restrictions. India had banned export of pulses a decade ago when low supply had pushed up domestic prices of tur, urad, and moong to record high.
China planning to sell 1.2 MMT of corn from state reserves on 18 August.
China planning to sell 1.2 MMT of corn from state reserves on 18 August.
Chana prices up in Delhi on demand from millers.
Prices of chana rose in Delhi because of demand from dal millers ahead of various festivals. Arrivals of chana up in Delhi and Bikaner. On the NCDEX, the most active September contract was up 2.4% from previous close.
Argentina corn area will expand to record of more than 5 mln ha in 2017/18.
Argentina corn area will expand to record of more than 5 mln ha in 2017/18.
Govt says no more import of tur in FY18 as cap of 200,000 tonne hit.
More imports of tur in the current financial year are not required as the 200,000-tonne limit for the fiscal has already been hit. The government has capped import of tur at 200,000 tonne per annum in a bid to check the sharp fall in domestic prices. The import restrictions though not apply to the government import commitments under bilateral trade agreements and other pacts. The move of capping imports comes in the wake of domestic tur prices plunging to fresh lows due to bumper production. Huge procurement to buoy the falling prices by the government also did not serve the purpose.
NCDEX coriander up on short covering post 5-year low.
NCDEX coriander up on short covering post 5-year low.
Tur up in Akola on improved demand from dal millers.
Prices of tur at Akola, Maharashtra, rose because of improved demand from dal millers.
NCDEX cotton oilcake up at 1-week high on feed demand.
NCDEX cotton oilcake up at 1-week high on feed demand.
India no plans for duty-free sugar imports.
Food and Consumer Affairs minister Ram Vilas Paswan has said that the country has sufficient sugar supply and there was no need to import it.The government was keeping a watch on pulses price and would increase import duty if required.
CGE of Sri Lanka seeks corn import permit for feed millers.
CGE of Sri Lanka seeks corn import permit for feed millers.
Pakistan banks asked to start sugar export process.
The State Bank of Pakistan (SBP) has asked authorised dealers (banks) to start processing applications for sugar exports. The SBP issued a circular that the process begins as per the instruction given by the Ministry of Commerce on July 2 for the export of 300,000 tonnes of sugar. Sugar mills are not satisfied with the limit of 300,000 tonnes set by the Economic Coordination Committee of the cabinet. They claim there is a glut-like situation in the domestic market. They demand that the limit on the export volume of sugar should be enhanced. Sugar prices recently increased in the domestic market as some parts of the country suffered shortages of the commodity. The SBP advised the authorised dealers to forward the requests of sugar mills to the director of the central bank Foreign Exchange Operations Department (FEOD) for approval.
USDA decreased its corn ending stock estimates for U.S by 1.322 MMT for 2017/18.
USDA decreased its corn ending stock estimates for U.S by 1.322 MMT for 2017/18.
Brazil produces record amount of sugar in the 2nd half of July.
Brazil center-south region produced 3.41 million tonnes of sugar in the second half of July, the most for a 15-day period, as very dry weather allowed mills to work around the clock in the world largest cane belt. Mills allocated 50.33 percent of the cane to sugar production in the second half of July, versus 48.05 percent a year earlier.
USDA increased its world rice ending stock forecast by 0.398 MMT For 2017/18.
USDA increased its world rice ending stock forecast by 0.398 MMT For 2017/18.
Govt hikes import duty on crude, refined palm oil.
Crude palm oil to 15 per cent from 7.5 per cent. Refined to 25 per cent from 15 per cent. Soya and sunflower have been raised to 17.5 per cent from 12.5 per cent. The hike in import duty of crude and refined palm oil will help restrict cheaper imports from Malaysia and Indonesia and benefit farmers which are in distress due to fall in prices of oilseeds below minimum support price because of bumper production.
China projected 7.9 MT of cotton production in 2017-18.
China projected 7.9 MT of cotton production in 2017-18.
Edible oil to become costlier by 4-5% on import duty hike.
Edible oil and oilseeds are likely to become costlier by 4-5 per cent due to the government decision to raise import duty on crude and refined oil, with immediate effect.
Refined palmolein surges on rising demand.
Refined palmolein surged further at the Vashi oils and oilseeds wholesale market here on rising demand from retailers. While, castor seeds bold and castor oil commercial recovered slightly following mild offtake from shippers and soap industries. Groundnut oil and linseed oil maintained a stable trend due to lack of any large-scale buying.
Telangana farmers take to cotton in a big way insted redgram, chilli and turmeric Last year.
The increase in the extent of cotton cultivation this kharif in Telangana, up by over 26.5% compared to last year, has made the State government plan arrangements for the procurement of the fibre crop well in advance, keeping in mind the experience it had last year in the case of redgram, chilli and turmeric. The Agriculture Department has put the extent of cotton cultivation this season at 17.84 lakh hectares, more than half of the 34.42 lakh hectares covered by all crops so far, against 14.10 lakh hectares last year.