India maize unchanged in spot markets.
Ram Gopal Yadav (9 years ago)

Maize prices remained unchanged in Bihar Purnea market but traders fear that prices of new crop may fall in coming days as the state has been lashed by rains and hailstorm. The situation is bad, rains may deteriorate the quality of crop lying in fields.it only support the prices of stocked maize which is very few in quantity. India Meteorological Department forecast, squall and thunderstorm are likely to continue in Bihar on Thursday. Amid fears of crop damage, future contracts of maize gained on the NCDEX and June contract ended up 0.2% from previous close.

Govt rice stock rise on May 1.
Ram Gopal Yadav (9 years ago)

The government had 22.8 million tonne rice in its stocks as of May 1, up from 21.3 million tonne a year ago, due to a higher procurement of rice. So far, 36.0 million tonne rice has been procured for the 2016-17 (Oct-Sep) marketing year, up 24% on year.

Govt procures 36 million tonne rice since Oct, purchases up 24% on year.
Ram Gopal Yadav (9 years ago)

The central government has procured 36.0 million tonne rice so far in the 2016-17 (Oct-Sep) marketing year, up 24% on year. The Centre is buying rice from farmers at MSP of 1,470 rupees per 100 kg. Procurement has been the highest in Punjab, where the government has purchased 11.1 million tonne of the food grain, up 18.2% on year. In Chhattisgarh, 4.7 million tonne rice procured so far, up 35.4% on year, and in Haryana government bought 3.6 million tonne rice, up 25.2% from a year ago. About 141,302 tonne rice has been procured in Tamil Nadu so far, down 86.2% from a year ago. Procurement has been higher year-on-year in most states as India rice output in 2016-17 (Jul-Jun) is estimated at a record high of 109.15 million tonne.

NCDEX coriander hits 3% upper circuit on spot cues.
Ram Gopal Yadav (9 years ago)

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.
Ram Gopal Yadav (9 years ago)

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.

India wheat flat in spot markets.
Ram Gopal Yadav (9 years ago)

Prices of wheat in the key wholesale markets were largely unchanged amid thin trade. Arrivals in Indore were pegged at 15,000 tonne (1bag=100kg), up from 14,000 bags. Arrivals are increasing as procurement by the government is nearing an end. The most-active June wheat contract on the National Commodity and Derivatives Exchange ended up 0.1% from the previous close.

Govt offer 4 million tonne wheat under open market sales scheme FY18.
Ram Gopal Yadav (9 years ago)

The Centre is likely to allocate 4 million tonne of wheat for the open market sales scheme during the 2017-18 (Apr-Mar) marketing year. During 2016-17, the government sold 4.6 million tonne wheat across the country at a base price of 1,640 rupees per 100 kg compared to the initial plan of selling 6.5-7.5 million tonne. The quantum of wheat offered under the open market sale scheme is lower this year because of tight government stocks. Carryover stocks at the beginning of the season were at 7.4 million tonne, which when added to the expected procurement of 30 million tonne wheat this year will take total stocks in government reserves to 37.4 million tonne.

Purnea maize down on low demand for rain-hit crop.
Ram Gopal Yadav (9 years ago)

Prices of maize in the key market of Purnea, Bihar, fell due to poor demand for the crop after recent rains in the region. Mill-quality maize was sold at around down 40 rupees from previous close. Recent heavy rains have hit the harvested crop lying in fields and led to higher moisture content in the grain. This had reduced demand. At around 5,000 tonne, arrivals were down compared with 9,000 tonne on previous close.

India Maize down in spot markets on low demand.
Ram Gopal Yadav (9 years ago)

Wholesale prices of maize fell in the key market of Purnea, Bihar, due to poor demand after severe rains recently. The mill-quality maize was sold at around down 40 rupees from previous close. Heavy rains recently have hit the harvested crop lying in the fields and led to higher moisture content in the grain, thus reducing demand. Prices of the grain to fall further due to a likely bumper crop along with subdued demand.

Dairy body buys 900 tonne maize.
Ram Gopal Yadav (9 years ago)

The National Cooperative Dairy Federation of India on Monday bought 900 tonne maize in three lots at 1,765-1,851 rupees per 100 kg through an online auction. The commodity, which is used as cattle feed, was bought on behalf of the Kerala Cooperative Milk Marketing Federation. 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.