Southern Maharashtra Sugar mills not able to start operations before Diwali.
Ram Gopal Yadav (8 years ago)

Sugar mills from southern Maharashtra may not be able to start operations before Diwali, even as the industry and government are preparing for advance sugarcane crushing operations by a month to October to tide over any shortages during the festival season. Mills in the region comprising Sangli, Satara and Kolhapur account for the biggest share in sugar production of Maharashtra, the leading producer in the country. Region gets a few spells of heavy rainfall around Dussehra (which falls on September 30), which makes harvesting difficult due to wet fields. The migrating harvesting labour does not start from their villages before Diwali. Thus, mills from Kolhapur will begin crushing only after Diwali (October 19).

India Sugar weak conditions were seen at the wholesale sugar.
Ram Gopal Yadav (8 years ago)

Weak conditions were seen at the wholesale sugar market in the national capital during the week with prices falling on persistent supplies from mills amid expectations of a cut in import duty by the government to improve availability in the market to meet festive season demand and curb speculative rise.

India no plans for duty-free sugar imports.
Ram Gopal Yadav (8 years ago)

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.

Pakistan banks asked to start sugar export process.
Ram Gopal Yadav (8 years ago)

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.

India Soybean gains on bullish global, spot sentiments.
Ram Gopal Yadav (8 years ago)

Paring weakness from the previous session, soybean contracts on the National Commodity & Derivatives Exchange traded higher bolstered by firm buying from crushers, backed by upbeat soymeal exports. Gains in the bellwether soybean contract on the Chicago Board of Trade also propped up the prices on the Indian exchange. Taking cues from soybean, refined soyoil contracts on the NCDEX and crude palm oil on the MCX traded higher owing to rise in demand in wholesale markets and talks of a duty hike on imports of palm oils. Soybean traded higher on the US exchange following weather vagaries in the US.

Soybean prices rise in Indore on firm demand.
Ram Gopal Yadav (8 years ago)

Prices of soybean rose in the key wholesale market of Indore due to strong demand from oil millers. Firm exports of soymeal have also been supportive for soybean prices. In July, India soymeal exports rose over 150% on year to 30,678 tonne.

NCDEX soybean up on slow progress of kharif sowing.
Ram Gopal Yadav (8 years ago)

Futures contracts of soybean rose nearly 1% on NCDEX due to slow progress of kharif sowing in Madhya Pradesh, the largest grower of the oilseed. The most-active October contract of soybean on the NCDEX was at 3,128 rupees per 100 kg, up 0.7% from the previous close. So far, this kharif season, farmers have planted soybean across 4.5 million ha in Madhya Pradesh, down 12.5% from the previous year, according to data from the farm ministry. Rise in exports of soymeal, a derivative of soybean, by 150% on year in July also supported prices.