India Spot wheat prices fall as traders cautious ahead of GST.
Ram Gopal Yadav (8 years ago)

Wheat prices were down in key wholesale markets of the country due to subdued buying ahead of rollout of goods and services tax on Jul 1. In the key Delhi market, mill quality wheat sold down 20 rupees from the previous day and in Kota, the grain was sold down 10 rupees from previous close. The July contract ended down 0.4% from previous close.

EU wheat drops as French harvest makes good progress.
Ram Gopal Yadav (8 years ago)

European wheat prices fell, pressured by good harvest results in France and as the euro rise against the dollar hampered the competitiveness of European wheat on world markets. Front month September on the Paris-based Euronext exchange was down 0.1 percent or 0.25 euro at 171.00 euros a tonne. It had surged during a heatwave in France last week, which raised concern of damage to crops.

South Africa 2017 maize crop seen at record 15.8 million tonnes.
Ram Gopal Yadav (8 years ago)

South African expected to reap a record 15.82 million tonnes of maize this season after better weather boosted yields. The estimate is 1.4% higher than the latest forecast from the government Crop Estimates Committee (CEC) which put the harvest at a record 15.6 million tonnes, double last year output. A drought triggered by an El Nino weather pattern left 2016 harvest at just 7.78 million tonnes, but favorable weather since has put this year crop on track to surpass the previous record of 14.656 million tonnes in 1981. The Johannesburg stock exchange white maize futures contract due in September has fallen 66% from its peak of R5 188 a tonne hit in May last year to close at R1 775 on previous close.

India Branded rice set to get dearer; traders, mill owners worried.
Ram Gopal Yadav (8 years ago)

It nigh impossible to think of a south Indian meal without rice. And now, with the country getting ready for the rollout of the goods and services (GST) tax regime, South Indians, for whom rice is a staple food, have a reason to worry – all varieties of branded rice are set to get dearer by 5% per kilogram, come July 1. Karnataka is likely to be worst affected owing to the additional cess on grains levied by the state government on traders and millers. Besides the 5% GST tax on branded food grains, the state government levies a 1.5% market tax on food grains, which the Agriculture Marketing Produce Committee (APMC) has decided to continue even after the rollout of GST.

Bangladesh Rice exports seen picking up, Sri Lanka demand.
Ram Gopal Yadav (8 years ago)

Rice exporters see a pick-up in demand for the Indian cereal from Bangladesh as the recent floods in that country have impacted output and sent prices high. Also, a drought in Sri Lanka has resulted in improved demand for the finer varieties such as sona masuri. Bangladesh recently floated three tenders to import about 1.5 lakh tonnes of white rice and par-boiled rice. A fourth tender is expected in July 1st week. Export prices have improved by about 15 per cent since the beginning of the year. As against FOB price of $360-370 per tonne in January, prices of white rice have now moved to between $420 and $430 a tonne.

NCDEX coriander hits upper limit on improved buying.
Ram Gopal Yadav (8 years ago)

Futures contracts of coriander on NCDEX hit 3% upper limit, tracking spot markets where improved buying lifted prices. The most-active July contract was at 5,040 rupees per 100 kg, up 2.25% from the previous close. Supply in Rajasthan was 4,000 bags (1bag=40kg), almost unchanged from previous close. In Kota, Rajasthan, the Badami variety was sold at 5,600-5,800 rupees per 100 kg, while the Eagle variety was quoted at 5,800-6,000 rupees, both up by 200 rupees from previous close.