The central government has procured 38.6 million tonne rice so far in the 2016-17 (Oct-Sep) marketing year, up 13.4% on year. The Centre is buying rice from farmers at a minimum support price of 1,470 rupees per 100 kg. Procurement has been the highest in Punjab, where the government has purchased 11.1 million tonne of the food grain, up 18.2% on year. In Chhattisgarh, 4.7 million tonne rice has been procured so far, up 35.4% on year, and in Haryana, government agencies have bought 3.6 million tonne rice, up 25.2% from a year ago. Procurement has been higher year-on-year in most states as India rice output in 2016-17 (Jul-Jun) is estimated at a record high of 109.15 million tonne.
Edible oil seen down on rise in kharif oilseed sowing.
Edible oil seen down on rise in kharif oilseed sowing.
India PEC plans to export 500,000 tonne of non-basmati rice in 3-4 month.
PEC Ltd has floated a tender to sell 500,000 tonne of non-basmati rice (white or parboiled rice) from the crop of 2016 or later. The tender will close on Friday. The entire quantity will be shipped in 3-4 months from the date of conformation of supply by PEC.
ICE Canada canola futures rise on export talk.
ICE Canada canola futures rise on export talk.
India rice down as traders cautious ahead of GST.
Prices of basmati and non-basmati rice also fell in Haryana Karnal market due to weak export demand besides subdued buying. The white sella basmati rice was selling in Karnal, down 100 rupees from previous close and Pusa 1121 steamed rice was selling down 50 rupees. Prices of non-basmati rice were also down as arrival of summer paddy from Uttarkhand and Uttar Pradesh has flooded the market. Arrival of 1509 variety of summer paddy started nearly one week back and so far, 1.5 million bags (1bag=100kg) have arrived in Karnal market.
South Africa Price of white maize falls with glut export markets.
Government crop estimates committee said the size of the expected commercial maize crop was unchanged at 15.6-million tonnes. Of that, 9.5-million tonnes would be white maize and the rest the yellow variety. Industry expectations are for a 4.2-million tonne exportable surplus for both white and yellow maize. About 2-million tonnes will be exported, while the rest of the stocks will carry over to the next marketing year.
Paddy acreage up 4.5% on year on good monsoon progress.
India kharif paddy acreage was up 4.5% on year at 1.67 million hectares due to good progress of monsoon rains across major growing regions. Southwest monsoon rains have been near normal so far and according to the India Meteorological Department, the currents are likely to cover most parts of the country in the next two to three days. Typically, monsoon covers the entire country by Jul 15.
Jaipur mustard seed down on low buys, higher supply.
Jaipur mustard seed down on low buys, higher supply.
LT Foods to starts opening at 60,000-tn rice plant in Netherlands.
The company inaugurate a rice plant of 60,000-tn initial capacity at Rotterdam in Netherlands. The company would process varieties such as Basmati, Thai, Jasmine and American rice at the new plant. Shares of the company traded at 68 rupees, up 5.8%, on the National Stock Exchange.
India groundnut area 0.47 mln ha, up 49% on year.
India groundnut area 0.47 mln ha, up 49% on year.
India cotton area 2.47 million hectares up 30% on year.
Cotton acreage in the country was up 30% on year at 2.47 million hectares as of Thursday, according to sowing data for 2017-18 (Jul-Jun). Attractive returns for the commodity prompted farmers to switch from pulses, especially pigeon pea, in most parts of the country. Progress of monsoon rains in key growing areas also helped in sowing. Gujarat, Maharashtra, Madhya Pradesh, and Telangana are among leading growers of the crop where monsoon is progressing well. The government has targeted to produce 35.50 million bales (1bale=170kg) of cotton in 2017-18 (Jul-Jun), higher than last year 32.58 million bales.
ICE Canada canola futures rise on struggling US crops.
ICE Canada canola futures rise on struggling US crops.
MCX cotton rises on short covering.
Futures contracts of cotton traded higher on the MCX as investors covered their short positions. The front month June contract had hit a five-month low of 19,470 rupees per bale (1bales=170kg) giving traders an opportunity to buy at lower levels. Expectations of higher output in 2017-18 (Oct-Sep) due to increased acreage across the country pushed prices lower. Gains in cotton futures on the ICE also aided the sentiment. On the MCX, the July cotton contract was at 19,730 rupees per bale (1bale=170kg), up 0.2% from the previous close, while the most-active December contract on ICE was at 67.66 cents per pound, up 0.43%.
NCDEX amends norms for mustard oilcake futures expiring Nov or later.
NCDEX amends norms for mustard oilcake futures expiring Nov or later.
All-India cotton arrivals up at 21,000 bales.
Around 21,000 bales (1 bale = 170 kg) of cotton arrived in the major spot markets across the country on Monday, compared to 17,000 bales on Friday.
India coffee exports during Jan 1- Jun 23.
The Coffee Board of India has finalized 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.
Sugar up in north India on bargain buys, flat in Maharashtra.
Sugar up in north India on bargain buys, flat in Maharashtra.
Maharashtra traders, stop buying sugar from mills; want Arun Jaitley to clear Rs 124 per quintal credit.
Maharashtra traders, stop buying sugar from mills; want Arun Jaitley to clear Rs 124 per quintal credit.
ICE Raw Sugar July contract up at 12.65 vs 12.61 cents/pound (+0.04%).
ICE Raw Sugar July contract up at 12.65 vs 12.61 cents/pound (+0.04%).
Farmers reduce 34% area under pulses in India.
Farmers reduce 34% area under pulses in India.