Bangladesh gets lowest offer of $406.48/T in rice import tender.
Ram Gopal Yadav (8 years ago)

May 28 Bangladesh received a lowest offer of $406.48 a tonne from Singapore-based Agrocorp International in a tender that opened on Sunday to import 50,000 tonnes of white rice. Five traders competed for the tender issued by the Directorate General of Food at a time when local rice prices have reached record highs and state reserves are at 10-year lows.

Bangladesh rice prices break world record.
Ram Gopal Yadav (8 years ago)

Bangladeshis buy the poorest quality of rice at the highest prices in the world. According to the government, a kilogramme of a coarse variety of rice is being sold at Tk 48, setting a record in the country economy. Another South Asia nation, Pakistan, stood second on the chart, but its nationals buy the same variety of rice at Tk 10 less than in Bangladesh. Trading Corporation of Bangladesh (TCB), in the past month, the price of rice has increased by 11 per cent and prices have doubled in the past one year.

Pakistan import duty may dent India 2017-18 cotton exports.
Ram Gopal Yadav (8 years ago)

Pakistan has decided to re-introduce the 4% customs duty on imports of cotton for 2017-18 (Aug-Jul), a move that has raised an alarm for India as this may hit its exports. Though it is still premature to put a number to the quantum of fall in exports, traders estimate it at 0.5-1.0 million bales (1bale=170kg), or 25-50% of this year’s exports to Pakistan. India total cotton exports to Pakistan are estimated at 1.8-2.0 million bales in 2016-17 (Oct-Sep). Import duty (in Pakistan) may have negative impact on India’s exports to the tune of 1 million bales.

Cotton body ups 2017-18 global output estimate, demand forecast unchanged.
Ram Gopal Yadav (8 years ago)

UK-based Cotton Outlook has raised its forecast for global cotton output in 2017-18 (Aug-Jul) to 24.49 million tonne from 24.40 million tonne projected in April. Higher returns and better yields have encouraged farmers to cultivate more area under the fibre. The agency retained its estimates for global cotton consumption during the year, at 24.45 million tonne. Consequently, global stock levels are now expected to rise by 44,000 tonne, compared with a forecast of a 47,000-tn decline in April.

India coffee exports during Jan 1- May 25.
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 tn. The board has estimated the output for 2016-17 at 316,700 MT tonne, down 9% on year.

Dairy body buys 46 tonne maize at 1,481 rupees/100 kg.
Ram Gopal Yadav (8 years ago)

The National Cooperative Dairy Federation of India bought 46 tonne maize at 1,481 rupees per 100 kg through an online auction. The commodity, which is used as cattle feed, was bought on behalf of the Sabarmati Ashram Gaushala. The federation, which has nearly 200 dairy cooperatives as its members, has developed an online trading platform to purchase feed stock and sell dairy products.

India coffee exports during Jan 1- May 24.
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 2% on short covering, low supply.
Ram Gopal Yadav (8 years ago)

June contract traded at 5,105 rupees per 100 kg, up 2.6% from the previous settlement. Prices of the spice also rose as arrivals in Ramganj and Kota more than halved to 3,000 bags (1bag=40kg). At Kota, the benchmark market for the commodity, coriander prices were unchanged as demand matched supply. The Badami variety was quoted at 5,800 rupees per 100 kg, while the Eagle variety was sold at 6,100-6,300 rupees. Markets in Baran, Rajasthan, were closed because Amavasya.

MANILA NFA had enough rice in Marawi City.
Ram Gopal Yadav (8 years ago)

NFA in Marawi City had 38,000 bags of rice, enough to feed the whole province of Lanao del Sur for five days. Combined with commercial rice supply, the stocks can feed the whole province for 15 days. NFA rice stocks for the whole of Mindanao currently stands at 15 million bags.

Bangladesh to speed up rice imports in wake of flooding.
Ram Gopal Yadav (8 years ago)

Local rice prices have reached record highs and state reserves are at six-year lows in the wake of flooding in April that wiped out around 0.7 million tonnes of output. Plans to import 0.6 million tonne of rice soon amid low stocks. To keep tariffs on private imports to protect farmers. Vietnamese prices hit 13 month high on strong demand from top importing countries such as Bangladesh and the Philippines.

Vietnam prices hit 13-month high; Thailand up on lower supply.
Ram Gopal Yadav (8 years ago)

Vietnam rice hit its highest level in over a year this week on potential export deals and prices in Thailand firmed up as supply eased, while the Indian variety gained on growing demand from Africa. Strong demand from top importing countries such as Bangladesh and the Philippines are fuelling the uptrend in Vietnam and Thailand rice prices. Vietnam 5-percent broken rice RI-VNBKN5-P1 was quoted at a level unseen since April last year, at $360-$380 a tonne, FOB Saigon, up from $365-$370 last week. Thailand benchmark 5-percent broken rice RI-THBKN5-P1 firmed this week to $411-$412 a tonne, free-on-board (FOB) Bangkok, from $385-$411 last week, the highest in nine months.