MCX cotton hits a 5-month low on higher output forecast.
Ram Gopal Yadav (9 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 (9 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 (9 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 (9 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 Rain expedites sowing of paddy in Punjab.
Ram Gopal Yadav (9 years ago)

The early morning showers came as a help for paddy farmers who, as per the government instructions, were allowed to start paddy transplantation. The mild showers continued for almost an hour. Hailstones too were reported from few areas surrounding the city. Estimate an area of 1.80 lakh hectares to come under paddy cultivation in this season, nearly 80,000 hectares area would come under basmati varieties.

Bangladesh Rice stocks fall to six-year low.
Ram Gopal Yadav (9 years ago)

The government rice stocks in storage have fallen to the lowest in six years due to an insufficient supply from the ongoing procurement programme. The stock of rice stands at 1,91,000 tonnes till June 13 which in 2009 stood at 5,46,000 tonnes in the Fiscal Year 2009-10. The price of rice has already increased over the last two months which traders and millers attribute to the loss of crops in the haor regions in the Northwestern region of Bangladesh. The price of coarse rice in the capital was ranging at between Tk45 and Tk55 a kilogramme, 5%-10% higher compared to that a month ago.

Thailand 2.1 million tonnes of inedible rice sold in the latest bidding held.
Ram Gopal Yadav (9 years ago)

Around 2.1 million tonnes of inedible rice stored by the state were expected to be sold in the latest bidding held yesterday by the Ministry of Commerce, leaving only a small amount of poor quality grade grain in the government stockpile to be put on sale next month. Offer prices ranged between 2,000-6,700 baht per tonne and depended mostly on how poor the quality of the rice was. However, the offer prices were well above offers in the previous bid of around 4,000 baht a tonne.

India Spot rice prices fall as traders cautious ahead of GST.
Ram Gopal Yadav (9 years ago)

Prices of rice fell in the key wholesale markets of the country as traders liquidate stocks fearing demand may be hit after the roll out of GST as a 5% tax on branded flour will be levied. In Haryana Karnal market, prices of 1121 basmati sella rice fell by 100 rupees, and the grain was traded at 5,300-5,400 rupees per 100 kg. Permal raw variety non-basmati rice was traded at 2,800 rupees per 100 kg in Karnal.