Dairy body to buy 900 tonne maize via e-auction Monday.
Ram Gopal Yadav (7 years ago)

The National Cooperative Dairy Federation of India buy 900 tonne maize through a reverse electronic auction on Monday. The commodity, used as cattle feed, will be bought on behalf of the Kerala Co-operative Milk Marketing Federation. The National Cooperative Dairy Federation of India, which has nearly 200 dairy cooperatives as members, has developed an online trading platform to purchase feed stock and sell dairy products.

NCDEX coriander up on low crop view, bargain buying.
Ram Gopal Yadav (7 years ago)

The May and June contracts of coriander on the NCDEX gained because of a likely decline in output in 2016-17 (Oct-Sep). Bargain buying by investors after prices fell to a 43-month low on Monday also supported coriander futures. The most-active June contract on the exchange was up 1.1% from the previous settlement. In the benchmark market of Kota, Rajasthan, the Badami variety and the Eagle variety both steady from previous close. Arrivals in Kota and Ramganj were pegged at 5,000 bags (1bag=40kg) up 200 bags.

Global coffee body sees market well supplied near term on higher crop.
Ram Gopal Yadav (7 years ago)

The international coffee market is seen well supplied in the near term as total export from major growing countries during Oct-Mar is estimated to be up 4.8% at 60 million bags (1bag=60kg). Global supply outlook during 2017-18 (Oct-Sep) is seen positive as initial concerns about frost in Brazil and a shortage of rainfall in Vietnam affecting the crop have eased. Rise in exports during Oct-Mar was mainly due to an increase in supplies of Colombian mild Arabica and other mild coffee grades. Colombia exported 10.3% larger volumes in the first six months of coffee year 2016-17. Shipments of Arabica coffees from origins in the Other Milds group are 16.6% higher than in the same period of the previous year. The rise in export shipments have ensured sufficient global stocks, and thereby have weighed on global prices.

USDA pegs India 2017-18 cotton output at 28 million bales, up 6%.
Ram Gopal Yadav (7 years ago)

The US Department of Agriculture has pegged India 2017-18 (Aug-Jul) cotton output at 28.0 million bales (1USbale=480pound), up 6% on year. Following projections of higher output, the department cut its estimate for India cotton imports by 30% to 1.75 million bales for 2017-18. India cotton exports for the next season are seen rising to 4.5 million bales, from an estimated 4.2 million bales this year. Global cotton production in 2017-18 is seen at 113.22 million bales, up from 105.88 million bales estimated for this year. Global production is expected to rise nearly 7%, despite marginally lower average yields, as area rebounds to its highest level in three years Global ending stocks of cotton in 2017-18 are estimated at 87.14 million bales, lower from 89.52 million bales in 2016-17.

NCDEX cotton oilcake ends down on early monsoon view.
Ram Gopal Yadav (7 years ago)

Futures contracts of cottonseed oilcake on NCDEX hit a 17-month-low because of expectations of early onset of the southwest monsoon this year. Most-active June contract was down 1.2% from previous close. The southwest monsoon is likely to hit Andaman sea and the Nicobar Islands by Monday, five days ahead of the normal date of May 20. Lower demand from stockists and reports of higher inventories are seen weighing on prices of the commodity, In Akola, a key delivery centre in Maharashtra, cottonseed oilcake was sold down 20-30 rupees from the previous day.

Sugar up in Delhi on good demand; steady in Mumbai.
Ram Gopal Yadav (7 years ago)

Prices of sugar in the key wholesale markets of Delhi were up due to improved demand as consumption has increased amid wedding season. In Delhi, the sweetener was sold up 5 rupees per 100 kg from previous close. In Mumbai, prices of sugar were unchanged amid thin trade. On the NCDEX, the most-active May contract was up 1.8%.

India no plans to allow extra sugar imports.
Ram Gopal Yadav (7 years ago)

India, the world biggest sugar consumer, has no plans to allow extra imports of the sweetener as stocks held in mills will suffice, Food Minister Ram Vilas Paswan said on Thursday. Last month, the government allowed imports of half a million tonnes of duty-free raw sugar, as a drought cut output below consumption for the first time in seven years. Traders were speculating that the government could soon be forced to allow imports of an extra 500,000 to 1 million tonnes to meet local demand, estimated at 24-25 million tonnes a year. Local sugar prices are steady around 38,000 rupees ($590.38) a tonne despite an uptick in demand during the summer months when sales of ice cream and cold drinks soar, potentially boosting demand for sugar.

UP government plans to bring congruency between sugar cane and sugar prices.
Ram Gopal Yadav (7 years ago)

The issue about the sugar sector currently buzzing in the market is that there is no congruency between the sugar cane and sugar prices in the state of Uttar Pradesh. Market analysts and top honchos of sugar companies believe that the UP government is likely to fix the issue of sugarcane prices soon. Upcoming Sugar year starting on October 1 is likely to see the well balance of production and consumption of sugar. In current trading session, the sugar stocks are trading mostly higher. Dwarikesh sugar is trading higher by 1.05%. Dhampur Sugar stock is trading higher by 0.13%. Uttam Sugar is trading higher by 0.08%. Balrampur Chini stock is trading higher by 1.2%.