NCDEX cottonseed oilcake up tracking cotton prices.
Delhi, Mumbai sugar prices unchanged on thin trade.
Prices of sugar flat in the wholesale markets of Delhi and Mumbai due to thin trade.
All-India cotton arrivals up at 13,000 bales.
All-India cotton arrivals up at 13,000 bales.
India likely to increase sugar import tax to 50%.
India is likely to raise import duty on the sweetener to 50 percent from 40 percent in an attempt to restrict the cheaper flow of the commodity from overseas. The government in April allowed the duty-free import of 500,000 tonnes of sugar by the end of June to keep a lid on prices after local production fell by a fifth from a year ago. However, in 2017/18 marketing year starting from October 1, India sugar output is expected to jump a quarter from the previous year to 25 million tonnes. There have been some apprehensions of cheaper imports flooding the Indian market. That’s why the government is likely to raise the duty to 50 percent.
India coffee exports during Jan 1- July 6.
India coffee exports during Jan 1- July 6.
Sugar stocks up on hope of duty hike.
Sugar stocks rose by up to 20 per cent on expectation of an increase in customs duty to curb cheaper imports and estimates of lesser production than previous projections. The share price of Shree Renuka Sugars jumped the highest, to close at ~15.66. Bajaj Hindusthan and Simbhaoli Sugars surged by 9.3 per cent and 7.3 per cent, to close at ~16.36 and ~31.45, respectively. Also, monsoon rain has been sporadic in major cane growing areas, prompting analysts to forecast less output than previous estimates.
NCDEX coriander up 2% tailing rise in Rajasthan market.
NCDEX coriander up 2% tailing rise in Rajasthan market.
NCDEX maize up 1% on fall in acreage, poor rains.
NCDEX maize up 1% on fall in acreage, poor rains.
India kharif pulses sowing progress.
India kharif pulses sowing 4.41 million ha (up 22.92%) vs 3.59 million as on 7 july. India kharif tur sowing 1.43 million ha (down 5.65%) vs 1.51 million ha. India kharif urad sowing 1.01 million ha (up 36.81%) vs 0.74 million ha. India kharif moong sowing 1.25 million ha (up 23.96%) vs 1.08 million ha.
Excessive rain damages maize crop on 40,000 acres in Punjab.
Excessive rain damages maize crop on 40,000 acres in Punjab.
Glencore India denies allegation of pulses cartelisation.
Glencore Agriculture India Pvt Ltd has said it was not involved in any cartelisation by pulses traders in 2015-16, when prices of some pulses had hit record highs. An investigation by the income tax department indicated the spike in prices of pulses was because of cartelisation by traders.The company said the rise in prices was largely seen in tur and urad, and these commodities were not the core items imported by the company, adding that the company imported negligible quantity of tur and urad. Glencore is one of India largest importers of pulses. The report named companies like Glencore Group, ETG Group, Edelweiss Group, and Jindal Group for influencing overseas markets, hoarding local stock and evading taxes. Prices of most pulses, particularly tur and urad, had hit record highs in 2015. Tur prices in 2015 hit a record high of 15,300 rupees per 100 kg while those of urad had risen to 12,000 rupees.
Zimbabwe maize subsidy adds $118 million to mounting debt.
Zimbabwe maize subsidy adds $118 million to mounting debt.
NCDEX says reports of role in pulses price rigging baseless.
NCDEX has refuted allegations of facilitating the pulses scam in 2015-16 (Apr-Mar).
Punjab govt says no major damage to cotton, paddy due to heavy rains.
Punjab govt says no major damage to cotton, paddy due to heavy rains.
Coriander rises 2.23 pc on spot demand.
Coriander prices rose by Rs 100 per quintal in the national capital in view of increased buying by retailers and stockists amid low stocks. fall in supplies from producing belts and firming trend in futures market also supported the upside.
NCDEX coriander up over 2% on short covering.
Futures contracts of coriander on the NCDEX rose over 2% as investors covered their short positions after prices fell to a three-week low of 4,711 rupees per 100 kg on previous close. On the NCDEX, the July contract was at 4,907 rupees per 100 kg, up 2.5% from the previous close. In Baran, a key wholesale market, the Badami variety was sold for 5,125 rupees per 100 kg, while the Eagle variety was sold at 5,375 rupees, both unchanged from previous close. Supply in Rajasthan was steady at 4,500 bags (1 bag = 40 kg).
India coffee exports during Jan 1- Jul 4.
The Coffee Board of India has finalised its crop estimate for 2015-16 at a record-high of 348,000 tonne, up from 327,000 tonne produced a year ago, but down from previous estimate of 350,000 tonne. The board has estimated the output for 2016-17 at 316,700 MT tonne, down 9% on year.
All-India cotton arrivals at 12,500 bales.
Around 12,500 bales (1 bale = 170 kg) of cotton arrived in the major spot markets across the country on Tuesday.
Rabobank sees India sugar output recovering to 26.7 mln tn 2017-18.
Rabobank sees India sugar output recovering to 26.7 mln tn 2017-18.
India Wheat prices up in Delhi as supplies fall, demand firm.
Prices of wheat rose 20 rupees in the key wholesale market of Delhi owing to falling supplies and firm demand. About 600-700 tonne of wheat arrived into the market, down 100 tonne from previous close. NCDEX August wheat contract on the NCDEX ended up 0.4% from the previous close.