Wheat prices in Delhi were at 1,760 rupees per 100 kg, up 10 rupees per 100 kg from previous close, as arrivals of the grain fell. Arrivals of wheat from Uttar Pradesh fell as the state government is procuring wheat at better prices and farmers are not bringing the produce to Delhi. Arrivals in the state fell to 4,000 bags, each carrying 100 kg of the grain, from 5,000 bags on previous close.
Barley down on NCDEX taking cues from spot market.
Barley down on NCDEX taking cues from spot market.
India wheat up in spot market unchanged in indore.
Futures contracts of wheat traded higher on the National Commodity and Derivatives Exchange for the fourth consecutive session taking cues from gains in spot markets. The June contract of wheat on the NCDEX ended up 0.6% from the previous close. In the key wholesale market of Delhi, prices of wheat rose because of a fall in arrivals. The prices of wheat, however, were unchanged in Indore. Arrivals in Indore were also unchanged at 7,000-8,000 bags.
Food minister says allowed states to scrap stock limits on pulses.
Food minister says allowed states to scrap stock limits on pulses.
Food minister sees FY18 wheat buys falling 3 milion tonne short of target.
The government wheat procurement in the current marketing year that started April is likely to fall 3 million tonne short of its initial target of 33 million tonne. So far, govt. has procured 28.4 million tonne wheat and expect to buy 30 million tonne. Government had bought 5.9 million tonne wheat from farmers in Madhya Pradesh compared to a target of 8.5 million tonne. In Uttar Pradesh too, though the state government is eyeing procurement of 8.0 million tonne of wheat. actual procurement may even fall short of the central government initial estimate of 3.0 million tonne. Though procurement is seen lower than initial estimates, it has already topped last year total procurement of 23.0 million tonne, and would be enough to meet requirements under state-run welfare schemes this year.
Official says food ministry not in favour of hike in tur import duty.
Official says food ministry not in favour of hike in tur import duty.
NCDEX maize futures up on concern over crop damage.
Futures contracts of maize on the NCDEX were trading higher due to concerns that rains in Bihar might damage the crop. The recent rainfall in the state is likely to damage the harvested crop lying in farms. In its third advanced estimate released last week, the government pegged India rabi maize output in 2016-17 (Jul-Jun) at 6.97 million tonne, slightly higher than 6.89 million tonne estimated earlier. Total production of maize in 2016-17 is pegged at 26.14 million tonne, slightly lower than 26.15 million tonne estimated earlier. Most active June contract of maize was trading up 0.8% from the previous close.
NAFED procures 3,853 tonne rabi masur.
NAFED procures 3,853 tonne rabi masur.
Maize prices up on strong demand and low arrivals on rains in Bihar.
Prices of maize were up in the key wholesale markets of Purnea, Bihar, because of strong demand for the coarse grain. Demand was high as rainfall in the state raised concerns of damage in the harvested maize crop lying in farms. In Purnea, the mill quality of the grain was sold up nearly 20 rupees from previous close. Prices of the poor-quality maize also rose by 10-20 rupees per 100 kg. Arrivals of maize in Purnea were estimated at 9,000 tonne, higher than 8,000 tonne on previous close.
Traders say 60% soybean mills in Madhya Pradesh have shut operations.
Traders say 60% soybean mills in Madhya Pradesh have shut operations.
Paddy distress sale in Jaleswar; Bengal traders make huge.
Despite adverse climatic condition, this agricultural district of Balasore has recorded bumper harvest of paddy this season. But farmers still resort to distress sale as the procurement process is yet to commence in this region. On the other hand, traders from West Bengal are set to make huge profit cashing in on the helplessness of the poor farmers. Though the government assessment has put the production at 50 quintals, some farmers have harvested more than 80 quintals per hectare. However, despite such bumper production, farmers are selling their produce at something around Rs 1,100 per quintal to traders of West Bengal against the government-fixed minimum support price of Rs 1,470 for fair average quality (FAQ) standard of paddy. It is not only paddy, farmers who have raised groundnuts, green gram and black gram, also suffer from distress sale.
NCDEX soybean down nearly 1% due to poor demand.
NCDEX soybean down nearly 1% due to poor 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.
Madhya Pradesh may miss FY18 wheat procurement target by 1.5 million tonne.
Madhya Pradesh is likely to miss the 8.5-million-tonne wheat procurement target for 2017-18 (Apr-Mar) by 1.5 million tonne, due to lower turnout of farmers at procurement centres following delay in payments. Target of 8.5 million tonne now seems difficult. Madhya Pradesh is the second-largest wheat growing state in the country with output this year seen at a record 23 million tonne. since the procurement began in the state late March, around 6 million tonne of wheat has been procured, while another 1 million tonne is expected to flow into government reserves till early June. Delay in payment from cooperative banks due to cash crunch has irked farmers, pushing them to sell the grain in spot markets for instant payments.
Chana prices at 3-week high in Delhi as supplies halve.
Chana prices at 3-week high in Delhi as supplies halve.
Grain exports from Ukraine exceeded 37 MMT.
Ukraine exported 37.2 MMT of grains in 2016/17 by May 3, or 9% more than shipped abroad at the same time a year ago (34.2 MMT). This volume included 15.8 MMT of wheat (+11% year-on-year), 16.1 MMT of corn (+4%) and 5.1 MMT of barley (+22%). In the same period, exporters also shipped abroad 303 KMT of flour, including 301.7 KMT of wheat flour and 1.2 KMT of flour from other cereals.
Tur prices up in Akola on govt buys, low arrivals.
Tur prices up in Akola on govt buys, low arrivals.