India Demand for wheat improves in Delhi post GST.
Ram Gopal Yadav (8 years ago)

Demand for wheat in the major wholesale markets of Delhi, which had stalled before the implementation of goods and services tax, picked up, as clarity regarding the new tax regime improved. Unbranded wheat has been kept under the 0% tax slab under the new tax regime, while packaged and branded wheat is at 5%. In Delhi, mill quality wheat was sold up 30-40 rupees from previous close.

India maize up on low supply.
Ram Gopal Yadav (8 years ago)

Supplies fell in the benchmark market of Purnea in Bihar, the largest producer of rabi maize in the country, as most farmers have already sold their crops, and the remaining supplies were being hit by rains. In Purnea, prices rose by 10-15 rupees. The most active August maize contract also ended higher on the NCDEX due to low supply in spot markets and firm demand. The contract ended up 0.4% from the previous close.

Zamia FRA to buy 154,000 bags of maize from Kabompo farmers.
Ram Gopal Yadav (8 years ago)

THE Food Reserve Agency (FRA) is expected to buy a total of 154,000 x 50 kilogram bags of maize from small-scale farmers in Kabompo district in North-Western Province during this year crop marketing season. Government, through the FRA this year purchase 500,000 metric tonnes of maize from farmers countrywide for strategic food reserves of which North-Western Province has been allocated 65,000 metric tonnes. The agency last year bought a total of 164,000 x 50 kilogram bags of maize from small-scale farmers in the district out of the total target of 300,000 x 50 kg bags. But for this year, 154,000 bags are target.

Rice export body urges govt to press EU to defer tricyclazole norm.
Ram Gopal Yadav (8 years ago)

The All India Rice Exporters Association has sought government intervention to urge the European Union to defer by two years the implementation of tighter tricyclazole tolerance norms for basmati. The European Union, one of the high-value buyers of Indian basmati, has reduced the permissible limit of tricyclazole residue in imported rice to 0.01 parts per million from 1 part per million with effect from Jun 1, 2018. The fungicide is used extensively in India to prevent leaf blast and neck blast in Pusa Basmati 1 and Pusa Basmati 1401–two of the most widely consumed basmati rice varieties in the EU. The maximum residue limit for tricyclazole is 3 parts per million in India and the US, and 10 parts per million in Japan–levels that usually have no adverse impact on human health.

FAO says India non-basmati rice Jan-Jun export prices up 5.9% on year.
Ram Gopal Yadav (8 years ago)

The average price of 25% broken non-basmati rice exported from India rose 5.9% on year to $352 per tonne during Jan-Jun. Prices are recovering now due to improved demand at lower prices. In 2016, the grain was sold at $332 per tonne because of low demand from Iran and other buyers. In June, 25% broken non-basmati rice from India was exported at $361 a tonne, while that from competitors–Thailand and Pakistan–was sold at $441 a tonne and $360 a tonne, respectively. Prices of 25% broken rice from Thailand fell by 1.9% on year to $381 a tonne, while rice from Vietnam declined 1% on year to $337 a tonne.

NCDEX coriander up nearly 2% on short covering.
Ram Gopal Yadav (8 years ago)

Futures contracts of coriander on NCDEX rose 2% as investors covered their short positions after prices fell to a three-week low of 4,711 rupees per 100 kg in early trade. On NCDEX, the July contract was at 4,835 rupees per 100 kg, up 1.6% from previous close. In Kota, the Badami variety was sold for 5,600-5,800 rupees per 100 kg, while prices of the Eagle variety were at 5,800-6,000 rupees, both unchanged from previous close. Arrivals in Rajasthan was pegged at 4,500 bags (1 bag = 40 kg).

India coffee exports during January 1- July 4.
Ram Gopal Yadav (8 years ago)

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.

Thailand rice export prices fall.
Ram Gopal Yadav (8 years ago)

Export prices of most rice varieties in Thailand fell in the week. The prices fell due to poor demand from Iran, a major importer, as domestic rice harvest began in the west Asian country. The prices of the 5% and 25% broken white rice fell by $6 and $4 per tonne to $455 and $427 per tonne, respectively, in the week. Thailand is India competitor in global rice exports.