NAFED buys 52 tonne sunflower seed in Odisha so far.
Ram Gopal Yadav (8 years ago)

The National Agricultural Cooperative Marketing Federation of India has procured 52 tonne of sunflower seed under the price support scheme in Odisha as of Friday. The procurement drive, which started on Wednesday, is underway in Eram district and 72 farmers have benefitted from it. The agency has started procuring the crop from growers as market prices have fallen below the minimum support price of 3,950 rupees per 100 kg, inclusive of a bonus of 100 rupees. The agency has wound up its sunflower seed procurement in Haryana and Telangana.

CBOT soybeans drop on Midwest weather outlook.
Ram Gopal Yadav (8 years ago)

Chicago Board of Trade soybean futures fell on forecasts for cool weather in the U.S. Midwest that aid crop development in the region. Soymeal futures also weakened but closed above session lows after the September contract found support at its 100-day moving average. Soyoil rose on follow-through buying from a sharp rally.

Source says govt may lift ban on export of pulses to support prices.
Ram Gopal Yadav (8 years ago)

The government is planning to lift a decade-long ban on export of pulses in order to address the glut and support prices in the domestic market. India had banned export of pulses a decade ago when supply shortage had pushed prices of tur, urad, and moong to record-high levels. Since then, India production remained in a range of 17-20 million tonne, while consumption was stronger at 22-24 million tonne, thereby forcing the country to import pulses. In 2016-17, however, India is estimated to have produced over 21 million tonne of pulses, a record high. On top of that, imports have also surged to nearly 6 million tonne, leaving a surplus of 2-3 million tonne, a first in many years. Sources said the Centre is also considering a hike in import duty of tur from the current 10% and may mull imposing the levy on other pulses as well.

NCDEX chana up as arrivals halve in spot market.
Ram Gopal Yadav (8 years ago)

Futures contracts of chana on the NCDEX rose over 2%, tracking a fall in arrivals along with improved demand from dal millers and stockists. On the NCDEX, the most-active September contract of chana traded up 2.37% from previous close.

NAFED procures 56,583 tonne of 2016-17 rabi chana crop for buffer.
Ram Gopal Yadav (8 years ago)

The pace of procurement is slow now, but could pick up if the rains take a break. The agency had started procuring the pulse last month when prices fell below the minimum support level of 4,000 rupees per 100 kg, including a bonus of 200 rupees. Procurement is being carried out in Rajasthan, Madhya Pradesh, Uttar Pradesh and Haryana. Around 42,580 tonne of the pulse has been procured in Rajasthan, 12,730 tonne in Madhya Pradesh, 967 tonne in Uttar Pradesh, and the rest in Haryana.

india Tur set to hit 6-year low as Africa crop may worsen glut.
Ram Gopal Yadav (8 years ago)

A sharp rise in supply from overseas–largely Myanmar and some African countries like Malawi, Mozambique and Tanzania–is seen pulling down the already-low prices in a couple of months, to levels last seen in 2011. Africa tur production is expected to jump to 450,000-500,000 tonne in 2017-18, from the 350,000 tonne crop of last year. 70-80% of the African output making its way to India in the absence of other destinations. A record domestic crop, pegged around 4.5 million tonne or almost double of last year crop compounds the supply glut. Tur prices falling further, maybe towards 3,000 rupees per 100 kg in the next two months.

India Centre wants states to procure pulses.
Ram Gopal Yadav (8 years ago)

The Centre is considering pulling out of the procurement of pulses at minimum support price (MSP), and instead ask states to procure the key farm produce. As per the proposal, the Centre would bear about 30% of the amount spent for procurement on account of loss that agencies of state governments would incur during storage and release of pulses. Centre failed to procure enough pulses at MSP post the bumper harvest, which has resulted in distress sale by farmers. Secondly, the Centre is also struggling to dispose off the old stock of about 1.8 million tonnes of pulses since states are not picking them up from the central pool. the central outgo for compensating the states for their loss is estimated about Rs 1,800-Rs 2,000 crore. The proposal, which was presented to a committee of secretaries headed by Cabinet secretary, was recently discussed with state food secretaries.