Spot sugar rises as demand up at beginning of month.
Ram Gopal Yadav (8 years ago)

Prices of sugar rose in Mumbai and Kolhapur, as demand for the sweetener improved with Stuckists replenishing their inventories at the start of the month. In Maharashtra, prices rose also due to bargain buying after a fall in the last week. In Mumbai and Kolhapur, sugar prices were up 7 rupees per 100 kg from previous close. On the NCDEX, the most active May contract of sugar traded down 0.3% from the previous close. The government had on Apr 5 allowed duty-free import of 500,000 tonne of raw sugar under the tariff rate quota. On the National Commodity and Derivatives Exchange, sugar futures traded in a narrow range. Most active May contract of sugar was down 0.2% from the previous close. In north India, soaring prices are unlikely to sustain due to record high output in Uttar Pradesh.

Mills surrender 13,940 tonne of allocated raw sugar import quota.
Ram Gopal Yadav (8 years ago)

Madhucon Sugar and Power Industries and Dalmia Bharat Sugar have surrendered their quota of 13,940 tonne raw sugar allocated to them by the Directorate General of Foreign Trade for import of raw sugar. Madhucon Sugar had applied for a quantity of 21,000 tonne raw sugar from the south zone, while Dalmia Bharat Sugar had applied for 100,000 tonne raw sugar–50,000 tonne each from the east zone and the south zone. The Directorate General of Foreign Trade, however, allocated a quota of 4,313 tonne raw sugar to Madhucon Sugar, and 5,750 tonne raw sugar to Dalmia Bharat Sugar from the east zone and 3,877 tonne from the south zone. The mills surrendered the quota as the quantity allocated to them was very small and thus import would be unviable.

Indore wheat prices fall despite low supply.
Ram Gopal Yadav (8 years ago)

Despite a decline in arrivals in the benchmark market of Indore, Madhya Pradesh, prices of wheat fell due to subdued demand from Stuckists and flour mills Mill quality grain was sold down from 1,550 rupees on previous close. Arrivals were around 6,000 bags (1bag=100kg), down nearly 1,000 bags from the previous day. Prices also fell in Delhi, as supplies from Uttar Pradesh rose Arrivals were around 50,000 tonne, up 5,000 tonne. The most active June contract of wheat ended up 0.3%.

USDA raises India 2016-17 wheat crop estimate to 96.5 million tonne.
Ram Gopal Yadav (8 years ago)

USDA Foreign Agricultural Services has raised the estimate for India wheat output this year to a record 96.5 million tonne from 95 million tonne. The agency wheat output estimate for India is close to the government projection of 96.64 million tonne. The production estimate for the crop has been raised on hopes of better yields due to conducive weather conditions. Cool temperatures and adequate rainfall during Jan-Mar helped in better yield of the crop. Despite record production of the food grain, the agency expects wheat imports to continue, as domestic price is likely to remain higher compared with international prices. India is likely to import 4 million tonne wheat this year, as against 6 million tonne last year. Imports are likely to remain attractive for flour mills nearer the coast despite the 10% import duty on the food grain imposed in March.

Bihar Purnea maize price up.
Ram Gopal Yadav (8 years ago)

Maize futures contracts ended flat on the NCDEX amid lack of sufficient cues. Maize prices rose in wholesale markets of Bihar Purnea because demand improved after better quality crop started arriving in markets. In Purnea, the coarse grain was sold up 20 rupees from the previous day. Arrivals at the Gulabbagh mandi in Purnea, rose to 3,500 tonne up from 3,200 tonne. Better quality maize started arriving in markets as rains stopped because of which, demand is increasing. On the other hand, prices of maize fell in Nizamabad, Telangana, due to subdued demand for the coarse grain from major poultry and starch feed firms, In Nizamabad, maize was sold down 10-15 rupees from previous close.

Non-basmati price down.
Ram Gopal Yadav (8 years ago)

Non-basmati variety Permal Raw was quoted down 75 rupees per 100 kg from previous close. And the steam variety of basmati rice of PUSA 1121 was unchanged.