India Maize up in Purnea as rains hit arrivals.
Ram Gopal Yadav (8 years ago)

Prices of maize rose in the benchmark Purnea market of Bihar as monsoon rains hampered arrivals. About 500 tonne maize arrived in Purnea, down from nearly 2,000 tonne on previous close. Good quality maize was sold at 1,250 rupees per 100 kg in Purnea, up by 50 rupees from previous close. Maize prices were up due to low availability of good quality crop, total arrivals to market are also falling now due to rains.

Pakistan capitalising on record maize production.
Ram Gopal Yadav (8 years ago)

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.

India Rice to become expensive post-GST.
Ram Gopal Yadav (8 years ago)

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.

Thailand 2017 rice exports are tipped to reach 11 million tonnes.
Ram Gopal Yadav (8 years ago)

Thailand rice exports are likely to hit a record high this year. Thailand 2017 rice exports are tipped to reach 11 million tonnes, the most ever, because of rising demand in rice-importing countries at a time that production in grower countries is falling. Thai 5% broken grade white rice to US$462 (15,684 baht) a tonne, up from last month $416 a tonne.

NCDEX to levy 5% additional margin on cotton oilcake.
Ram Gopal Yadav (8 years ago)

The National Commodity and Derivatives Exchange impose a 5% additional margin on Jul-Sep contracts of cottonseed oilcake, both on buy and sell sides. The cottonseed oilcake contracts have fallen over the last few weeks because of ample supplies and subdued demand in the local market. The most active July futures of the commodity ended 1.5% down at 1,721 rupees per 100 kg.

Iran exports 35,000 tonnes of wheat to Oman.
Ram Gopal Yadav (8 years ago)

Iran exported a 35,000 tonne cargo of wheat to Oman. For the time being only one cargo of milling wheat has been traded to Oman. because Iranian wheat is not graded, and with the current low prices of wheat from other more attractive origins, it is very unlikely that Iran able to sell more significant volumes.

US Wheat down on easing weather worries.
Ram Gopal Yadav (8 years ago)

Chicago wheat futures slid on Monday as the market took a breather after rallying around 5 percent in the last two sessions on the back of dry weather hitting U.S. yields. Chicago wheat climbed to its highest in almost a year at $4.68-1/2 a bushel on previous close as dry weather threatened to reduce U.S. spring wheat crop production. Reports of disappointing yields in early harvesting of hard red winter wheat provided additional support. There have been weather concerns for corn as well as spring wheat in the U.S.