Prices of sugar fell in the key wholesale markets of Delhi and Muzaffarnagar, because of poor demand in the market. In Delhi and Muzaffarnagar, the sweetener was sold down by nearly 20 rupees. In Mumbai, the key wholesale market of Maharashtra, prices of sugar were unchanged due to thin trade. Prices in Mumbai, however, are likely to fall in the near term due to lack of demand. On the NCDEX, the most-active June contract of sugar traded down 0.3% from the previous close.
USDA arm sees India year to Sept 2018 coffee crop up 5% at 5.45 million bags.
The US Agriculture Department Foreign Agricultural Services has estimated India coffee production in 2017-18 (Oct-Sep) at 5.45 million bags (1bag=60kg), up 5.4% from 5.17 million bags pegged in 2016-17 due to pre-monsoon showers in March and April that helped the setting and development of the coffee fruit. Karnataka, rains were 2% above normal in Chikmagalur during Mar 1-May 10, while in Kodagu, rains were 18% above normal and Hassan received 37% above normal rains. The yield of Robusta constitutes over 70% of the total crop, is seen slightly higher than last year due to good rainfall and availability of water for irrigation. The Arabica variety is likely to bear higher fruits than last year.
Barley prices up in Jaipur on domestic demand.
Barley prices up in Jaipur on domestic demand.
Govt lifts stockholding limit on pulses to boost private procurement.
Govt lifts stockholding limit on pulses to boost private procurement.
Chana may rise 10% by Jul on likely lower crop, talk of import duty.
Chana may rise 10% by Jul on likely lower crop, talk of import duty.
Delhi chana down on higher arrivals, low demand.
Delhi chana down on higher arrivals, low demand.
Canadian pea exports well ahead of year ago.
Canadian pea exports well ahead of year ago.
NCDEX coriander hits 3% upper circuit on spot cues.
Futures contracts of coriander hit the 3% upper circuit on the NCDEX, tracking the gains in Rajasthan Baran market. June contract traded up 2.3% on NCDEX. Prices of coriander were up due to increased demand from local stockists. In Baran, a key wholesale market for the commodity, the Badami variety of coriander and the Eagle variety both up 200 rupees from previous close. Arrivals at the Kota and Ramganj markets in Rajasthan were 11,000 bags (1bag=40kg) up 2,000 bags from previous close. Arrivals in Baran were pegged at 6,000 bags.
Govt mulling hiking 2017-18 cotton MSP by 160 rupees/100 kg.
The government is considering increasing the minimum support price for medium and long staple cotton by 160 rupees per 100 kg for the new crop year beginning July. The agriculture ministry has proposed increasing the MSP of medium staple variety to 4,020 rupees per 100 kg and long staple to 4,320 rupees. The agriculture ministry has moved a Cabinet note on MSP for cotton, based on the recommendation of the Commission for Agricultural Costs and Prices. In the current season, MSP for medium staple cotton is at 3,860 rupees per 100 kg and long staple is 4,160 rupees.
Sugar prices down in Delhi, Kolhapur, unchanged in other markets.
In Delhi, sugar was traded down 20 rupees per 100 kg, as demand waned at higher prices. Prices also fell in the wholesale markets of Kolhapur, as mills scaled down prices to trigger demand. In Muzaffarnagar, another important wholesale market, prices were largely unchanged because trade was subdued. Prices were also unchanged in Mumbai because of subdued demand. Also, as price cuts by mills had failed to trigger demand, these entities weren’t lowering prices further. Demand for the commodity in Mumbai has declined as states that usually buy sugar from Maharashtra have shifted to Uttar Pradesh because of higher production in the northern state. NCDEX May contract was down 0.4%.
Russian barley exports down 43% on year.
Russian barley exports down 43% on year.
NCDEX barley futures down as warehouse stocks rise.
NCDEX barley futures down as warehouse stocks rise.
Barley prices slightly up in Jaipur on bargain buys.
Barley prices slightly up in Jaipur on bargain buys.
Global stocks of barley may slip to 34-year low.
Global stocks of barley may slip to 34-year low.
Govt to allocate 60,975 free minikits of pulses seed for 2017-18.
Govt to allocate 60,975 free minikits of pulses seed for 2017-18.
Soybean sowing begins in Sangli; shift to pulses may hit acreage.
Soybean sowing begins in Sangli; shift to pulses may hit acreage.
Indian coffee exports, in tonne.
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.
Chana up in Delhi on hopes stock cap will be lifted.
Chana up in Delhi on hopes stock cap will be lifted.
Govt May 1 wheat stock down 11.8% on year at 27.7 million tonne.
The government had 27.7 million tonne wheat in its stocks at the beginning of this month, down 11.8% from 31.4 million tonne a year ago. The stocks are down despite a bumper crop this year as lower output in last two years had taken the government stocks to a multi-year low of 9.4 million tonne in March. The procurement target is higher as India’s wheat production in 2016-17 (Jul-Jun) is seen at 97.4 million tonne, up from 92.3 million tonne a year ago. So far, 28 million tonne wheat has been procured across the country, up nearly 24% on year.
Tur prices down in Akola on subdued demand.
Tur prices down in Akola on subdued demand.