Nearly 90% sugarcane dues cleared by UP govt.
Ram Gopal Yadav (8 years ago)

Out of the total outstanding cane dues of Rs 25,836.46 crore for crushing season 2016-17, a payment of Rs 22,807.53 crore was made to cane growers till July 14. This is 89.84 per cent of the total dues. Around 90 per cent of cane dues amounting to Rs 22,807 crore was given to sugarcane growers till July 14 during the crushing season 2016-17. The cane area of the state had increased by two lakh hectare due to the faith reposed by farmers on Chief Minister Yogi Aditynath.

Jaipur mustard seed down on low buys from oil millers.
Ram Gopal Yadav (8 years ago)

Mustard seed prices in Jaipur were down because of lower demand from the oil millers. However, arrivals across the country were unchanged at 95,000 bags (1bag=85kg). The most active August futures ended down 1%. Weakness in the entire edible oil complex due to expectation of a cut in the import duty on the crude palm oil is also seen creating bearish sentiment.

Maharashtra drip irrigation mandatory for sugarcane crop.
Ram Gopal Yadav (8 years ago)

The Maharashtra government has made drip irrigation mandatory for sugarcane crops in all the irrigated command areas across the state. More than half the land in Maharashtra is drought-prone and this decision is considered a formidable step towards water conservation. The government install drip irrigation system in the fields of total 3.7 lakh hectares in a phased manner within the next two years. The state provides a loan with an interest rate of only 2%. The amount of loan will be Rs 85,400 per hectare.

China to import more US soybean.
Ram Gopal Yadav (8 years ago)

Seven Chinese soybean buyers signed agreements here last week to buy 12.5 million metric tons (460 million bushels) of 2017-2018 U.S. soybeans, the second-largest deal after the 2015 agreement.

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

Prices of sugar inched up in the key wholesale markets of Maharashtra as millers quoted higher prices. Despite poor demand, mills are raising prices as there is no pressure on them to sell stocks. Millers will receive the new supply of sugar by mid-September and will have to manage with the current stocks till then. In North India, prices of sugar remained unchanged. Sugar futures on NCDEX it the 3% upper limit, taking cues from the strength in spot prices.

CBOT soybean futures gain on weather vagary in US.
Ram Gopal Yadav (8 years ago)

Futures contracts of soybean on the CBOT extended previous session gains and traded 0.5% higher due to low soil moisture and prevailing hot weather in the US. The unfavourable weather may hit the growth and resultant yield of the plant. Around 40% of the soybean crop in the country is in poor condition. The most active August soybean contract traded at $9.9450 a bushel on the CBOT up 0.5% from the previous close.

Pakistan govt allows export of 300,000 tonne of sugar.
Ram Gopal Yadav (8 years ago)

The Pakistan government has allowed export of 300,000 tonne of sugar. The country had 1.45 million tonne of surplus sugar stock from the last crushing season. Exporters in the country should export the allotted quota within two months. Earlier, Pakistan had allowed export of 425,000 tonne sugar, as millers in the country wanted the government to allow export to settle dues of farmers.

West Bengal seeks to buy 8,100 tonne sugar for sale via PDS.
Ram Gopal Yadav (8 years ago)

West Bengal Essential Commodities Supply Corporation Ltd, a nodal agency for procuring sugar on behalf of the Food and Supplies Department of the state, have sought bids to buy 8,100 tonne of sugar. The sweetener bought would be supplied during Sep-Oct through the public distribution system. Sep-Oct is a period of key festivals such as Durga Pooja, Kali Pooja and Chhat Pooja in the state. The submission of the bids closes on Aug 7, and the price bid open on Aug 9. The bids remain valid for 60 days from the date of opening of the tender.

India edible oil most down; soybean, mustard up on high demand.
Ram Gopal Yadav (8 years ago)

Futures contracts of most constituents in the edible oil basket, barring soybean and mustard, declined on domestic commodity exchanges. Shrugging off the previous session weakness, contracts of soybean on NCDEX closed 0.8% higher due to improved demand at lower prices in spot markets. Lower arrivals in key markets also boosted the prices. Arrivals were low as farmers are busy in sowing. Futures contracts of mustard on the NCDEX settled 0.5% higher bolstered by improved purchases in wholesale markets.

Uttar Pradesh sees 2017-18 sugar output 9.2-9.5 million tonne, up 5-9% year on year.
Ram Gopal Yadav (8 years ago)

Uttar Pradesh is likely to peg sugar output for 2017-18 (Oct-Sep) at 9.2-9.5 million tonne, up 5.1-8.6% on year. Mills in the state had produced a record 8.75 million tonne sugar a year ago, surpassing the previous high of 8.47 million tonne produced in 2006-07. For the next season, Uttar Pradesh sees production reaching about 9.2 million tonne to 9.5 million tonne as the acreage of sugarcane is rising. The acreage of sugarcane in Uttar Pradesh, the country top cane producing state, is likely to rise 5% in 2017-18 (Jul-Jun).

Uttar Pradesh issues notice to sugar mills for 2016-17 cane dues.
Ram Gopal Yadav (8 years ago)

The Uttar Pradesh government has issued notice to sugar mills in the state for non-payment of cane dues to farmers for 2016-17 (Oct-Sep) season. Notices have been issued to mills owned by Modi Sugars, Bajaj Hindusthan Sugar, Simbhaoli Sugars, Mawana Sugars, Rana Sugars and others as their payment process is slow. Mills in the state owed 25.35 billion rupees as of Monday to sugarcane farmers for the 2016-17 season. If the mills are unable to clear the dues in 15 days, they have to explain the reason for the inability to pay.