Dairy body buys 46 tonne maize at 1,481 rupees/100 kg.
Ram Gopal Yadav (9 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 (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 2% on short covering, low supply.
Ram Gopal Yadav (9 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 (9 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 (9 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 (9 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.

India non-basmati rice exports likely to grow at 5% in FY18.
Ram Gopal Yadav (9 years ago)

India exports of non-basmati rice are likely rise 5% in 2017-18 (Apr-Mar) from about 6.63 million tonne last year, due to high availability in country a bumper crop in 2016-17 (Jul-Jun). India non-basmati rice output in 2016-17 (Jul-Jun) is estimated at a record high of 103 million tonne. Higher supplies in the country have dragged the prices down, which has made Indian rice cheaper than its competitors. In global markets, 25% broken non-basmati rice from India is available at $415 a tonne while that from Thailand is sold at $544 a tonne and from Pakistan at $435 a tonne.

Coriander futures down 40%; under SEBI lens on alleged cartelization.
Ram Gopal Yadav (9 years ago)

Prices of coriander futures fell sharply over the last two months to hit five-year lows, despite strict curbs by the exchange, which has left not only the exchange, but also regulators in quandary about what could have led to the strong one-sided price movement. The contract has hit the 4% maximum lower circuit in at least six trading sessions over the last one month, despite NCDEX raising special margins by 20 percentage points. Concerned over allegations of excessive speculation in coriander futures contracts, SEBI is likely to hold a crucial meeting with NCDEX later in this week.

NCDEX coriander below support of 5,000 rupee/100 kg.
Ram Gopal Yadav (9 years ago)

Futures contracts of coriander on the NCDEX slipped below the crucial support level of 5,000 rupees per 100 kg due to continued selling pressure amid high supply. June contract hit a 4% lower circuit of 4,965 rupees per 100 kg, also a four-and-a-half year low. Rising stock of coriander at exchange-accredited warehouses and market buzz of rising imports of substantially cheaper Ukrainian crop have led to the fall in coriander futures despite strict curbs in form of margins and position limits by the exchange. Stocks of the spice at NCDEX-accredited warehouses rose to 32,130 tonne on Tuesday, up 10,728 tonne on month.