India Govt raises maize MSP by 60 rupees to 1,425 rupees/100 kg.
Ram Gopal Yadav (8 years ago)

The government has increased the minimum support prices on major crops including paddy, maize, tur, urad, moong, soybean and cotton. Maize get a minimum support price of 1,425 rupees per 100 kg, 60 rupees higher than last year. This comes at a time when the country is facing a glut in major crops and vegetables, which had resulted in subdued prices, leading to widespread protests among farmers in major growing states.

US corn down 1.3 percente.
Ram Gopal Yadav (8 years ago)

Corn gave up 1.3 percent on easing concerns over dryness in the U.S. The corn market is giving up gains as there is pressure on crude oil prices and the weather is looking better. Corn prices often track movements in the crude oil market with rising use of crops to make alternative fuels.

India year to September 20117 cotton export tops govt view of 5 million bales.
Ram Gopal Yadav (8 years ago)

India cotton exports in the year ending September are already at around 5.2 million bales, well above the Cotton Advisory Board estimate of 5.0 million bales for the whole year, though lower than 6.9 million bales the previous year. According to trade estimates, over 2.0 million bales have been shipped to Bangladesh, around 1.0 million bales to Pakistan, 900,000 bales to China, and 600,000 bales to Vietnam. the country still has 4 million bales of inventory and if prices fall below 20,000 rupees a bale, exports could gain pace in the coming months. As India is staring at a rise of at least 20% in output next year, prices are expected to fall sharply in the coming months.

MCX cotton hits a 5-month low on higher output forecast.
Ram Gopal Yadav (8 years ago)

Futures contracts of cotton on the MCX hit a five-month low of 19,820 rupees per bale (1bales=170kg) in early trade due to expectations of higher domestic crop. Farmers in the country have sown cotton across 1.41 million ha as of Jun 8, up 42.4% on year. However, cotton June contract on the MCX recovered from the low and was trading at 19,960 rupees, up 0.5% from the previous close.

India coffee exports during Jan 1- Jun 15.
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.

NCDEX coriander up as demand exceeds supply.
Ram Gopal Yadav (8 years ago)

The July coriander contract was up on the NCDEX because demand from domestic retailers exceeded the stocks available with farmers and stockists. The most-active July contract traded at 4,990 rupees per 100 kg, up 7 rupees from the previous close. India annual consumption of coriander is 320,000 tonne, and only half of it is left with stockists. In Kota, the benchmark market, the Badami variety of coriander traded at 5,700-5,850 rupees per 100 kg, while the Eagle variety was quoted at 5,900-6,000 rupees, both unchanged. Arrivals in Rajasthan were 3,800 bags (1bag=40kg), up 500 bags from previous close.

India Wheat prices unchanged in Delhi amid thin trade.
Ram Gopal Yadav (8 years ago)

Wheat prices were unchanged in Delhi markets amid thin trade. In Delhi, mill-quality wheat was sold at 1,740-1,750 rupees per 100 kg. Demand for the grain has declined as buyers are cautious and do not want to hold inventories ahead of the goods and services tax regime. The July contract on the NCDEX was trading at 1,628 rupees per 100 kg, up 0.5% from the previous close.

India Govt says no plan to hike import duty on wheat.
Ram Gopal Yadav (8 years ago)

The government has no plans to raise import duty on wheat, sugar, or edible oils as of now. A fall in prices of the commodities had led to speculation of hike in import duties. In March, the government had imposed 10% duty on import of wheat to stem the fall in domestic prices.