Nagpur Pulses.
Ram Gopal Yadav (8 years ago)

Gram and Tur prices recovered strongly in Nagpur Agriculture Produce and Marketing Committee (APMC) here on good seasonal demand from local millers amid weak supply from producing regions. Government decision to withdraw stock limited on pulses also boosted prices. Fresh hike in Madhya Pradesh gram prices and repeated enquiries from South-based millers also helped to push up prices. Gram varieties firmed up in open market here on increased festival season demand from local traders amid tight supply from millers. Tur varieties shot up in open market good seasonal demand from local traders amid thin supply from producing regions. Moong varieties recovered in open market here on renewed demand from local traders amid tight supply from producing belts.

CBOT soybean up as demand from China seen higher.
Ram Gopal Yadav (8 years ago)

Futures contracts of soybean rose on CBOT due to anticipation of higher demand from China. Prevailing dry weather conditions in some parts of the US Midwest region also lifted prices of the commodity. Soybean futures also rose due to bargain buying.

Indore soybean prices down on lower meal exports.
Ram Gopal Yadav (8 years ago)

Prices of soybean in Indore fell due to lower exports of soymeal from the country. Soymeal exports in July declined to 30,678 tonne as compared to 45,975 tonne in June. There is lower demand for the meal in the local and overseas market, which is seen weighing on the sentiments. In Indore, the benchmark market for the oilseed, soybean was down 8-10 rupees. The most active October futures were up 0.3%.

Export of soybean meal increases by 235%.
Ram Gopal Yadav (8 years ago)

Export of soybean meal and its other value-added products during July 2017 has been pegged at 0.98 lakh tons compared to 0.29 lakh tons in July 2016 showing an increase of 235 per cent over the same period of last year, according to Soybean Processors Association of India (SOPA). On a financial year basis, the export during April’2017 to July’2017 is 4.69 lakh tons as compared to 1.19 lakh tons in the same period of previous year showing an increase of 292 per cent. The release added that during current oil year, (October 2016 – September 2017), total exports during October 2016 to July 2017 is 16.46 lakh tons as against 3.48 lakh tons during the same period last year, showing an increase of 372.72 per cent.

Pakistan soybean imports on the rise.
Ram Gopal Yadav (8 years ago)

Pakistan continues to increase its purchasing of soybeans with imports expected to reach a record 1.6 million tonnes during 2016-17 and 2 million tonnes during 2017-18. Higher imports are a reflection of a tariff structure that favors soybeans over soymeal and growing demand from Pakistan poultry sector. imports of edible oils are proving to be slower than forecast as higher prices curb demand and increased imports and crushing of canola and soybeans offset some of the need for edible oil imports. Imports of both palm oil and soybean oil are now expected lower, but Pakistan remains one of the largest vegetable oil importers. Continued demand for protein meal from Pakistan’s poultry feed sector is expected to push soybean imports to a record. Importers continue to source small quantities of soybean meal when pricing is favorable and imports are expected to reach 360,000 tonnes during the current marketing year based on imports to date and estimated bookings.

India Government to allow 200,000 tonnes of additional imports.
Ram Gopal Yadav (8 years ago)

India is planning to allow additional 200,000 tonnes of duty-free sugar imports, a government source said on Tuesday, as production fell below consumption in 2016/17 marketing year ending on Sept. 30, according to Reuters. The world’s biggest sugar consumer had earlier allowed duty-free imports of 500,000 tonnes of the sweetener. The country’s opening sugar stock for 2017/18 season starting from Oct. 1 are likely to be 4 million tonnes, down sharply from 7.7 million tonnes this year, the source, who declined to be named, said. Separately, India is planning to raise import tax on vegetable oils like palm oil, soyoil and sunflower oil, the source added.

Jharkhand govt to buy 27,000 tonne sugar via NCDEX spot arm.
Ram Gopal Yadav (8 years ago)

The government of Jharkhand has floated a tender to buy 2,700 tonne white crystal sugar via NCDEX e-Markets Ltd, the spot arm of National Commodity and Derivatives Exchange. The Department of Food, Public Distribution and Consumer Affairs of Jharkhand seeks to buy ISS Grade S-30 sugar on Aug 17.