Tur area may decline by 25-30 % to 4 million ha this year due to lower price.
Indore wheat prices fall despite low supply.
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%.
NCDEX barley at over 1-year low on lacklustre demand.
NCDEX barley at over 1-year low on lacklustre demand.
USDA raises India 2016-17 wheat crop estimate to 96.5 million tonne.
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.
Chana down in Delhi on weak demand, high arrivals.
Chana down in Delhi on weak demand, high arrivals.
Karnataka 3rd Adv estimate grains output up.
Kharif foodgrains output is expected to rise to 10.08 million tonne from 7.66 million tonne last year.
Tur prices up in spot markets on higher demand.
Tur prices up in spot markets on higher demand.
Bihar Purnea maize price up.
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.
NCDEX June soybean up 1% on bargain buying.
NCDEX June soybean up 1% on bargain buying.
Karnataka 3rd Adv estimate rice output up.
Karnataka aims to produce 3.1 million tonne of rice in 2017, up from 2.6 million tonne in the previous year.
CBOT soybean futures down as traders booked profits.
CBOT soybean futures down as traders booked profits.
Non-basmati price down.
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.
Jaipur mustard over 2-year low as output seen up.
Jaipur mustard over 2-year low as output seen up.
NCDEX coriander at 4% lower cap on talks of import.
The May and June contracts of coriander on the NCDEX hit their 4% lower circuit today on talk of cheap imports of the spice from Ukraine. The fall was also triggered by a 579-tn rise in inventories at exchange-accredited warehouses to 27,467 tonne on previous close. The most-active May contract on the exchange traded down 4% from the previous close.
NAFED procures 24,731 tonne of mustard seed in Haryana.
NAFED procures 24,731 tonne of mustard seed in Haryana.
Coriander rates fall in Ramganj on talks of imports.
Prices of coriander fell in Ramganj, in Rajasthan, on talks of cheap imports of the spice from Ukraine, Russia and Bulgaria. In Ramganj, the Badami variety of and Eagle variety coriander both down 100 rupees from previous close. Arrivals were unchanged at 8,000 bags (1 bag=40kg).
India FY17 groundnut exports surge 34% buoyed by Vietnam buys.
India FY17 groundnut exports surge 34% buoyed by Vietnam buys.
India coffee exports during Jan 1- May 3.
The Coffee Board of India has finalised its crop estimate for 2015-16 at a record-high of 348,000 tonne, up from 327,000 tonne produced a year ago, but down from previous estimate of 350,000 tn. The board has estimated the output for 2016-17 at 316,700 MT tonne, down 9% on year.
Groundnut down in Junagadh as supply rises.
Groundnut down in Junagadh as supply rises.
Spot sugar rises as demand up at beginning of month.
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.