Nagpur Pulses.
Ram Gopal Yadav (9 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.

Tamil Nadu seeks Centre help to source sugar from UP.
Ram Gopal Yadav (9 years ago)

Tamil Nadu sugar mills want 600,000 tonnes from mills in Uttar Pradesh for supply in the coming season but want central government help on the transport cost. Sugar output in Tamil Nadu has been declining for some years. With the deficient rain this season for the fourth year in a row, mills in Tamil Nadu are estimating only 550,000 or 650,000 tonnes of output for 2017-18, as against 2.4 million tonnes in 2011-12. In sugar season 2016-17, the state reported output at 1.05 MT, almost equivalent to its annual consumption. The UP mills agreed, but were uncomfortable with the transportation cost of Rs 3-3.5 a kg. Mills in Tamil Nadu cannot take this burden; it would inflate prices in the state. Therefore, seek involvement of Isma.

Soybean contracts up on NCDEX tracking CBOT.
Ram Gopal Yadav (9 years ago)

Futures contracts of soybean traded up on the NCDEX tracking the CBOT. The most-active August contract traded up 1.5% from the previous close. Contracts of soybean rose on the CBOT due to short covering by market participants after prices fell last week. Bargain buying by domestic oil millers and crushers after a recent fall in prices also supported contracts of soybean on the NCDEX.

Soybean acreage 9.9 million ha as of Thu, down 10% on year.
Ram Gopal Yadav (9 years ago)

Acreage under soybean across the country was at 9.9 million ha as of Thursday, down 10.4% from the year-ago period. Sowing under soybean fell this year following a decline in acreage in Madhya Pradesh, the largest soybean-producing state, due to poor rains in the last fortnight. In Madhya Pradesh, acreage of the crop was at 4.71 million ha, down from 5.36 million ha in the previous year. The area under soybean in the state is lower so far because farmers chose to sow other remunerative crops such as cotton, urad, and moong, as soybean fetched poor returns in 2016-17.

NCDEX mustard seed up on export demand for meal.
Ram Gopal Yadav (9 years ago)

Mustard seed contracts were up on the NCDEX owing to a pickup in demand for mustard meal from overseas buyers. On the NCDEX, the most-active September contract was trading up 0.81% from previous close. Seasonal demand for mustard oil during the rainy season also supported seed prices.

Groundnut acreage 3.5 million ha as of Thu, down 13% on year.
Ram Gopal Yadav (9 years ago)

Farmers in the country had sown kharif groundnut across 3.49 million ha as of Thursday, down 12.9% on year. In Gujarat, the largest producing state, groundnut acreage was 1.61 million ha, up 2.6% on year, following favorable rains in the state. However, a fall in area sown under groundnut seed in other key producing states of Andhra Pradesh and Karnataka, following deficit rains, pulled down overall acreage in the country.

Chana futures up on NCDEX on demand from dal millers.
Ram Gopal Yadav (9 years ago)

Futures contracts of chana rose on the NCDEX owing to improved demand from dal millers and stockists. On the NCDEX, the most-active September contract of chana traded up 0.33% from previous close. The government is planning to lift a decade-long ban on export of pulses, which is also seen supporting prices.

Govt limits tur import at 200,000 tonne to support prices.
Ram Gopal Yadav (9 years ago)

The government has capped import of tur at 200,000 tonne per annum in a bid to to limit the fall in local prices. The restrictions apply until 2018. The import restrictions though not apply to the government import commitments under bilateral trade agreements and other pacts. The move comes in the wake of local tur prices falling to fresh lows due to a large crop. Robust government procurement also did not support prices. There were concerns that domestic prices may fall even further, as Africa is set to harvest a bumper crop this year, and the landed cost of the new African tur crop would be much lower than the domestic price. The government had earlier this year imposed 10% import duty on tur to check the fall in prices. The import duty, however, was not of much help, as tur is imported primarily from Myanmar and African countries, which can circumvent India import taxes due to bilateral pacts.

MMTC invites bids for sale of 3,734 tonne urad, 242 tonne tur.
Ram Gopal Yadav (9 years ago)

MMTC Ltd has floated a tender to sell 3,734 tonne urad and 242 tonne tur. The pulses available at Chennai Central Warehousing Corp and National Collateral Management Services warehouse. Bids must be submitted on Aug 16, and opened the same day. The bids remain valid for acceptance till Aug 23.