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.
All-India cotton arrivals down at 4,400 bales as on 25 July.
All-India cotton arrivals down at 4,400 bales as on 25 July.
Tur down in spot mkt on slow demand.
Tur prices declined in spot markets due to weak demand.
Rabobank ups ICE robusta coffee price view Jul-Sep.
Rabobank ups ICE robusta coffee price view Jul-Sep.
Food Corp to auction 4,192 tonne tur via NCDEX e-markets.
The Food Corp of India will offer 4,192.09 tonne tur for auction Thursday through NCDEX e-Markets. The pulse is stocked at warehouses in Maharashtra, Madhya Pradesh, and Telangana.
NCDEX coriander up on short covering.
NCDEX coriander up on short covering.
Canada masoor exports down 18% on-month in June.
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.
India Chana extends gains, up 0.35 pc on rising demand.
Chana prices rose by 0.35 per cent in futures trading as traders enlarged positions on the back of rising demand in the spot market. At the National Commodity and Derivatives Exchange, chana for delivery in October rose 0.35 per cent.
GASC buys wheat through tender.
GASC buys wheat through tender.
India sugar prices fall in north India, unchanged in Maharashtra.
Prices of sugar fell for the third straight day in the key wholesale markets of north India due to subdued demand at higher prices amid adequate stocks in the markets. Regular supplies have resumed in the markets now and prices have declined. Prices are subdued also because of reports of the government asking mills to curtail the prices.
Maharashtra govt to use NCDEX spot platform to buy, sell paddy.
Maharashtra govt to use NCDEX spot platform to buy, sell paddy.
Sugar prices down in Delhi, unchanged in Maharashtra.
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.
Weak monsoon adds in problem to paddy farmers in Punjab.
Weak monsoon adds in problem to paddy farmers in Punjab.
ICE raw sugar ends down over 3% on likely supply glut.
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.
Govt says talking to EU on new cap for fungicide level in basmati.
Govt says talking to EU on new cap for fungicide level in basmati.
CBOT soybean up 1% as condition of US crop worsens.
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.
Bangladesh issues another tender to buy rice.
Bangladesh issues another tender to buy rice.
Soybean up in Indore due to slow progress of sowing.
Soybean prices in the benchmark market of Indore rose due to slow progress of kharif sowing in Madhya Pradesh. Lower prices of the oilseed in domestic markets also led to fall in acreage, as farmers opted to plant more profitable crops such as cotton. In line with spot markets, futures contracts of soybean on the NCDEX also traded 1.2% higher.
India discussing rice exports issue with EU.
India discussing rice exports issue with EU.
NCDEX mustard seed up on bargain buys post 1-week low.
Mustard seed futures contracts were up on the NCDEX due to bargain buying after prices hit a one-week low. On the NCDEX, the most active August contract traded up 0.44% from previous close. A decline in stocks at exchange accredited warehouses also supported prices.