Canada green peas stays steady at C$ 8 to 8.75 per Bushel.
Kenya SGR cargo trains to ferry cheap maize.
Cargo trains start ferrying goods from Mombasa to Nairobi earlier than planned to ensure subsidised maize reaches the market on time amid a shortage of flour. The standard gauge railway (SGR) cargo trains on the new railway were supposed to start trips in January next year but the current development see them commence operations much earlier to save millions of Kenyans who have been grappling with the shortage of subsidised flour that is going for Sh90 for a two-kilogramme packet.
Indore soybean prices up on MSP hike, higher demand.
Indore soybean prices up on MSP hike, higher demand.
USDA Madagascar 2017/18 rice production down 0.2 MMT from last year.
USDA Madagascar 2017/18 rough rice production is estimated at 3.5 million metric tons, down 0.2 MMT from last year. The estimated output is below the 5-year average due to a severe drought in the central and northern regions of the country where nearly 80 percent of Madagascar rice is grown. Area is estimated at 2.2 million hectares, down 0.2 million hectares from last year due to the drought. Seasonal rainfall during the first half of the rice growing season (November 2016 through February 2017) was the lowest in the past 36 years. The drought in the central and northern parts of the country reduced planting and significantly reduced yields.
CBOT soybean up despite favourable weather in US.
CBOT soybean up despite favourable weather in US.
Bangladesh Govt lowers rice import duty to 10 percent down from 28 percent.
The government has decided to reduce the duty on rice imports by more than half the existing rate to encourage the private sector to import the staple and thus help stabilise the volatile rice market. The import duty will be 10 percent, down from 28 percent.
Mustard prices down in Jaipur as arrivals seen up.
Mustard prices down in Jaipur as arrivals seen up.
India Bajra acreage at 8,200 ha as of Wed, up 34% on year.
The area under kharif bajra across the country as of Wednesday was at 8,200 ha, up 34.4% on year. The rise in acreage of the coarse grain can be attributed to early onset of southwest monsoon this year. The rise in acreage under bajra is mainly driven by a higher area in Rajasthan, where the acreage was at 50,000 ha, up from 14,000 ha a year ago.
ICE Canada canola futures rise on tight supplies.
ICE Canada canola futures rise on tight supplies.
Jordan issued international tender to purchase 100,000 tonnes barley.
Jordan state grain buyer issued another international tender to purchase 100,000 tonnes of animal feed barley to be sourced from optional origins, European traders said. Tender deadline is June 21, traders said. The new tender had been expected after Jordan made no purchase in its previous tender for 100,000 tonnes which closed on June 15.
Malaysia June 1-20 palm oil exports down 16.7%.
Malaysia June 1-20 palm oil exports down 16.7%.
All-India cotton arrivals down at 23,400 bales.
About 23,400 bales (1 bale = 170 kg) of cotton arrived in major spot markets across the country on Monday, lower than 25,600 bales on Friday.
MCX cotton down for 2nd day as output seen higher.
Futures contracts of cotton on the MCX declined for the second straight day due to expectations of higher year-to-September 2018 output. Prospects of higher sowing across states and forecast of a normal monsoon dampened the market sentiment. Cotton acreage in Gujarat, the largest producer, was at 496,400 ha, compared with 175,500 ha same period last year. Subdued demand because of poor quality arrivals also weighed on prices. On MCX, the July cotton contract was at 20,210 rupees per bale (1bale=170kg), down 0.7% from the previous close.
India coffee exports during Jan 1- Jun 19.
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.
Coriander prices up in Ramganj on rise in demand.
Prices of coriander were up in Ramganj, a key wholesale market in Rajasthan, following a rise in demand from domestic retailers amid lower arrivals. In Ramganj, the Badami variety of coriander was sold at 6,000 rupees per 100 kg, while the Eagle variety was quoted at 6,200 rupees, both up by 200 rupees from previous close. Arrivals in Rajasthan were 5,500 bags (1bag=40kg), down 500 bags from the previous day. The most-active July contract traded at 5,200 rupees per 100 kg, up 0.2% from previous close.
Pakistan capitalising on record maize production.
Output of maize has exceeded 6m tonnes for the first time in the country. This is going to boost both local sales and exports of corn and corn-based products. Pakistan produced 6.13m tonnes of maize in FY17, up 16.3pc from last year 5.271m tonnes. Whereas the area under cultivation increased to 1.334m hectares from 1.191m hectares in FY16, the crop’s yield also went up to 4,595kg per hectare from 4,426kg per hectare.
CBOT soybean up on likely higher demand from China.
CBOT soybean up on likely higher demand from China.
Dairy body to buy 6,300 tonne de-oiled rice bran.
The National Cooperative Dairy Federation of India will buy 6,300 tonnw de-oiled rice bran and 2,450 tonne of rice polish through a reverse electronic auction Friday.
Groundnut prices down in Rajkot on higher arrivals.
Groundnut prices down in Rajkot on higher arrivals.
India Rice to become expensive post-GST.
From July 1, post-Goods and Services Tax (GST) introduction the rice is set to become expensive by three to five rupees per kilogram. India is the world largest producer of rice apart from Pakistan and Thailand, accounting 20 per cent of world production. As per the GST Act, branded and packaged rice attracts 5 per cent tax, in addition to the tax levied by the state government at 1.5 per cent; the total tax would be 6.5 per cent per kilogram. In fact, the price of all varieties of rice is expected to increase. The rice cultivating states mainly Karnataka, Andhra Pradesh, West Bengal and Punjab will be affected by the change of tax rate. Most of the states are charging only 1.5 per cent tax, this is the first-time rice will get taxed at 5 per cent.