Mustard seed prices up in Jaipur on renewed demand.
Dairy body buys 900 tonne maize.
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.
NCDEX mustard seed down as investors book profits.
NCDEX mustard seed down as investors book profits.
NCDEX coriander hits 4% lower cap as inventories up.
Futures contracts of coriander hit 4% lower circuit on the NCDEX because of a rise in inventories at exchange-accredited warehouses. Stocks rose to 31,794 tonne on Monday, up by 1,498 tonne from a week ago. Prices also fell as the bourse marked 3,050 tonne of coriander for staggered delivery in the May contract till now. Sentiment for the spice was weak as high delivery marked by the exchange would push up supply in the physical market. The most active June contract was down 4% on the NCDEX. In Kota, the benchmark market for the commodity, the Badami variety and the Eagle variety both unchanged from previous close. Arrivals at Kota and Ramganj markets in Rajasthan were 9,000 bags (1bag=40kg) down by 4,000 bags from the previous day.
Nov-Apr sunflower oil import 1.18 million tonne vs 771,088 tonne year ago.
Nov-Apr sunflower oil import 1.18 million tonne vs 771,088 tonne year ago.
NCDEX cotton oilcake down 1% as expiry stocks rise.
Futures contracts of cottonseed oilcake were down over 1% on the NCDEX because of a rise in quantity of stocks which expire in the May contract. The most active June contract of cottonseed oilcake on the NCDEX was down 1.3%. About 10,535 tonne of cottonseed oilcake expire in the May contract and available in the spot market. Sufficient availability of the oilcake in the local market, along with expectations of an early onset of the monsoon in Kerala and subsequently, to the interior parts of the country, is seen weighing on prices of cottonseed oilcake.
Groundnut seed up in Rajkot on demand from millers.
Groundnut seed up in Rajkot on demand from millers.
ICE cotton down on profit booking post 3-year-high.
July cotton futures on the ICE fell because traders booked profits after the contract hit a three-year-high of 87.18 cents a pound on previous close. The most-active July contract of cotton on the ICE was at 84.54 cents a pound, down 0.9% from previous close. Prices of cotton on the ICE rose because of higher demand for the crop from the US, a heavy build-up in net long positions in cotton contracts.
Burkina Faso 2017-18 cotton output seen up 17%.
Cotton production in Burkina Faso, a West African country, is likely to rise 17% on year to 800,000 tonne in 2017-18, as the country started using conventional seeds again. The higher instances of pink bollworm pest attacks in some regions in India despite the use of the BT cotton seed variety has raised questions over the use of the genetically modified seed. BT cotton seed is used widely in India to guard against pink bollworm pest attacks.
Sugar prices unchanged in major markets in thin trade.
Prices of sugar were unchanged in the key wholesale markets of Mumbai and Muzaffarnagar in thin trade. In Muzaffarnagar and Mumbai, sugar was unchanged from previous close. There was no bulk demand for sugar in the market, only day-to-day demand is keeping prices steady. On the NCDEX, the most active July contract of sugar traded up 0.5% from the previous close.
Paddy Procurement robust in chhattisgarh and odisha.
Union Ministry of Consumer Affairs, Food and Public Distribution has stated that paddy procurement is already robust in Chhattisgarh and Odisha. The procurement target from the eastern States by the end of Kharif Marketing Season (KMS) 2017-18 is 155.93 Lakh MT. Presently, the figure stands at 53.65 Lakh MT for KMS. In consultation with the States it was decided to procure 330.00 lakh MT of wheat during Rabi Marketing Season 2017-18, which is considerably more in comparison with the last season actual procurement of 229.61 lakh MT. The State government decided to purchase 65 lakh metric tonnes of paddy during the Kharif Marketing Season for year 2016-17. Chhattisgarh stood second in the country in Kharif season 2015-16 among a list of 18 states with targetted procurement of 36 lakh metric tonnes of paddy crop during 2015-16 as per information made available by the Central Government in that year where Punjab ranked first with paddy procurement target of 82 lakh metric tonnes.
Barley prices at 2-week low in Jaipur as supply rises.
Barley prices at 2-week low in Jaipur as supply rises.
NCDEX barley at 14-month low on higher stock, spot cues.
NCDEX barley at 14-month low on higher stock, spot cues.
Chana down in Delhi on high supplies, low demand.
Chana down in Delhi on high supplies, low demand.
At Rs 53/kilo, Visakhapatnam gets highest price for rice.
Grade-1 variety of superfine rice cost Rs 53 per kilo in Vizag as against the state’s average of Rs 46.45 per kg. Prices are higher at the supermarkets. At the Rythu Bazar, sell the rice below Rs 50.
Soybean down in Indore on low demand from crushers.
Soybean down in Indore on low demand from crushers.
Bangladesh rice crisis imminent after poor harvest.
Agriculture Ministry estimates say the average per hectare Boro production in Bangladesh is about 4 tonnes. The nation’s food supply is likely to face a threat from the loss of Boro production in the current season from early flash-floods in the Haor wetlands, as well as pest attacks on paddy crops across the country. Rice prices are already unusually high and market insiders fear that the worst is yet to come. The government is now scrambling to make a quick response and has agreed the first rice imports for six years, ordering 600,000 tonnes.Government rice reserve came down to 262,000 tonnes on May 7. In May, last year the reserve was about 678,000 tonnes. Traders are also have very little rice in reserve.
India rice unchanged in spot market.
Wholesale prices of rice were unchanged in major spot markets. The steam variety of basmati rice Pusa 1121 was sold at 6,800-6,900 rupees per 100 kg in Amritsar, while non-basmati variety Permal Raw sold for 2,900-3,000 rupees per 100 kg.
NCDEX coriander hits 3% lower cap on weak demand.
Futures contracts of coriander hit their 3% lower circuit on the NCDEX because of subdued demand from overseas buyers and the spice industry. A rise in arrivals also weighed on the prices. The most active June contract was down 3% on the NCDEX. Arrivals in Kota, the benchmark market, were at 13,000 bags (1bag=40kg) up from 10,000 bags on previous close. In Kota, the Badami variety and the Eagle variety both down 200 rupees from the previous trading day.
NCDEX Friday marks 5,150 tonne cotton oilcake for staggered delivery May.
The National Commodity and Derivatives Exchange on Friday marked 5,150 tonne cottonseed oilcake, and 1,700 tonne mustard seed for staggered delivery in the May contract. The May derivative series will expire on May 19, Under the staggered delivery mechanism, sellers can indicate intention of delivery to the exchange during the tender period, which is 10 days before the contract expires.