Govt seeks Parliament OK to spend 5 billion rupees on pulses procurement.
Ram Gopal Yadav (8 years ago)

The government sought Parliament approval to provide 5 billion rupees for procurement of pulses under the Price Stabilisation Fund. The approval for the additional amount was sought in the First Batch of Supplementary Demands for Grants tabled in Lok Sabha. The government started procurement of legume crops through state and centre-run government agencies to buoy falling prices and help farmers. Last year, the government procured pulses to create a buffer stock of 2 million tonne and to bring down soaring prices. However, a bumper crop subsequently led to a steep fall in prices, prompting the government to intervene and initiate procurement to support the prices.

Canada masoor exports down 18% on-month in June.
Ram Gopal Yadav (8 years ago)

Masoor exports from Canada in June were down 18% on month at 68,600 tonne. Exports were up 128.7% on year-on-year basis. In June last year, the country had exported 30,000 tonne of masoor. However, so far in the marketing year ending in July, the exports were up at 853,100 tonne as compared to 631,400 tonne in the year-ago period. Canada is a major supplier of pulses in the global market, while India is the largest consumer.

Sugar prices down in Delhi, unchanged in Maharashtra.
Ram Gopal Yadav (8 years ago)

Prices of sugar were down in the key wholesale markets of Delhi due to low demand at higher prices. Prices of the sweetener are subdued also because of reports of the government asking mills to curtail the prices. On the NCDEX, the October contract of sugar traded down 0.7% from the previous close.

ICE raw sugar ends down over 3% on likely supply glut.
Ram Gopal Yadav (8 years ago)

Futures contracts of raw sugar settled 3.5% lower on the ICE because of expectations of higher global supplies in 2017-18, led by a rise in production in Brazil. Mills in Brazil Centre-South region produced 3.1 million tonne sugar during July 1-15, up 9.1% on year. Reports of early crushing in India due to likely higher production in 2017-18 (Oct-Sep) also weighed on prices. Early crushing would help availability of new stock of sugar in the market. The most-active October contract on ICE ended at 13.9 cents a pound, down 3.5% from the previous close.

CBOT soybean up 1% as condition of US crop worsens.
Ram Gopal Yadav (8 years ago)

Futures contracts of soybean staged a rebound on the CBOT and traded nearly 1% higher on reports of the crop condition worsening in the US. Prices have risen as the USDA recently said around 43% of the sown soybean crop was in poor condition due to dry weather. The August soybean contract on CBOT traded at $10.0550 per bushel, up 0.8% from the previous close.