Global body sees India 2017-18 cotton mill demand 5.2 million tonne, up 2%.
Ram Gopal Yadav (8 years ago)

Consumption by cotton mills in the country is seen rising 2% in 2017-18 to 5.2 million tonne, due to competitive prices for cotton yarn products. Current season, mill demand has been pegged at 5.1 million tonne. Cotton consumption in China, the largest consumer of the fibre, is seen increasing by 1% to 7.7 million tonne in 2017-18. China accounts 30% of world cotton consumption. Consumption by cotton mills in Pakistan is expected to rise by 1% to 2.3 million tonne due to new incentives for textile exports offered by the government, while demand in Bangladesh is projected to increase by 5% to 1.5 million tonne in 2017-18. The committee has increased its forecast for 2017-18 global cotton output to 23.58 million tonne, from 23.12 million tonne projected in April, as higher returns encouraged farmers to expand the area under the cotton crop. Global cotton consumption is expected to rise to 24.55 million tonne, from 24.42 million tonne in the previous month. Year-ending stocks are expected at 16.41 million tonne, against forecast of 16.55 million tonne in April. July cotton futures contract on the Intercontinental Exchange is down 0.04% at 79.4 cents a pound, while the December contract was down 0.09% at 75 cents a pound.

MCX cotton up on fall in arrival, likely high demand.
Ram Gopal Yadav (8 years ago)

Futures contracts of cotton rose on the MCX after arrivals declined in major spot markets across the country. arrivals of cotton in spot markets stood at 67,700 tonne, lower than 69,700 tonne on previous close. Consumption of cotton by mills is seen rising 2% in 2017-18 to 5.2 million tonne, due to competitive prices for cotton yarn products. This has also supported the sentiment. The most active May contract of cotton was at 20,650 rupees per bale (1bale=170kg), up 0.6% from the previous close.

India coffee exports during Jan 1- May 2.
Ram Gopal Yadav (8 years ago)

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.

Egypt contracted to import 20,000 tonnes of Indian rice.
Ram Gopal Yadav (8 years ago)

Egypt, traditionally a rice exporter, has contracted to purchase 20,000 tonnes of Indian rice as per a cabinet statement on 03 May. Egypt govt statement did not explain why it had contracted to buy the rice. But in December, govt said it would import rice after cancelling a tender to buy locally produced rice when the bidding companies all offered higher prices than the govt had asked for. Egypt rice paddy production is estimated at 5.1 million metric tonnes in 2016 versus annual consumption of about 3.95 million tonnes, said USDA.

India 2016-17 rabi maize output seen at 7.9 millon tonne, up 14.7%.
Ram Gopal Yadav (8 years ago)

India rabi maize output in 2016-17 (Oct-Sep) is seen rising 14.7% on year to 7.9 million tonne. Acreage under the coarse grain has risen 11.7% on year to 2.1 million hactare in 2016-17, with gains in Bihar. Andhra Pradesh and Maharashtra because of good water availability in these states. In Tamil Nadu, however, area under the crop declined because of prolonged drought conditions. The brokerage has pegged average yields at 3.9 tonne per ha, up 5.4% on year. Output in Bihar, the largest producer of rabi maize producer, is seen at 2.8 million tonne compared with 2.4 million tonne a year ago. Despite a rise in output, export demand for maize is expected to remain largely unchanged at 500,400 tonne. In 2015-16, India exported 500,600 tonne of maize.

Iran Likely to Produce 22.5 MMT of Rice in 2017.
Ram Gopal Yadav (8 years ago)

Iran is likely to produce 22.5 MMT of rice in 2017 compared to 21 MMT in 2016. For meeting its additional requirements of Basmati rice Iran depends on imports. The increase in production over the years is continuously reducing its dependency on imports. Iran imported 14.40 LMT in 2013-14, 9.66 LMT in 2014-15, 6.95 LMT in 2015-16 and 5.50 LMT during the first ten months of 2016-17 (April 2016 to January 2017) from India. It is estimated that in fiscal year 2016-17 Iran is likely to import 6.50 LMT of basmati rice from India. Therefore, Iran demand of basmati rice is likely to fall in coming year because increase in production.

Govt FY18 wheat procurement up over 18% on year at 25 million tonne.
Ram Gopal Yadav (8 years ago)

The government has procured 24.66 million tonne of wheat across the country so far, this marketing year started April. The procurement is 18.3% higher than in the year-ago period, as production in 2016-17 (Jul-Jun) is seen at a record high. Procurement by the government was the highest in Punjab at 10.92 million tonne, up 10.4% from a year ago. Haryana was the second, at 7.06 million tonne, up 9.2% on year. In Uttar Pradesh, where the state government expects to procure a whopping 8 million tonne of wheat this year, 904,704 tonne has already been procured. The purchase is 152.8% higher on year. In Madhya Pradesh, another major producer, the government has bought 5.06 million tonne of the grain so far, up 39.1% from the year-ago period. In Indore, the grain was sold up 10-20 rupees from Saturday. Overall, the central government has set a target to procure 33.0 million tonne of wheat in the current marketing season, up from 22.9 million tonne on year.

Efforts to foster sustainable rice production gain traction in nigeria.
Ram Gopal Yadav (8 years ago)

To help meet national demand of around 5.2m tonnes in 2016, Nigeria imported 2.3m tonnes of rice last year, according to the UNs Food and Agricultural Organisation (FAO). This heavy reliance on external sources has seen Nigeria – currently the world second-largest importer of the grain after China – import around 17m tonnes of rice in the last five years, with the country spending an average of $5m per day on shipments of the grain, Audu Ogbeh, minister of agriculture and rural development, told international media earlier this year.

Low supply lifts Indore wheat price; down in Delhi.
Ram Gopal Yadav (8 years ago)

Wheat prices in the benchmark market of Indore rose due to a decline in supplies. In Indore, the grain was sold up 10-20 rupees from the previous day. Around 5,000 bags (1bag=100kg) of wheat were brought to Indore markets down from 7,000-8,000 bags. Wheat prices in the key wholesale market of Delhi fell because supplies from Uttar Pradesh and Punjab are on a rise. Wheat was quoted down 15 rupees from the previous day. Arrivals were at around 50,000 tonne up from 40,000 tn. The most active May wheat contract on NCDEX had hit a two-month low down 0.9% from previous close. The July wheat contract on CBOT was at $4.58 a bushel, up 0.6% from previous close.

Haryana Arrival Update.
Ram Gopal Yadav (8 years ago)

Until 01st May over 69 lakh tonne of wheat have arrived in Haryana compared to 64.59 lakh tonne for the same period last year. Traders and government agencies have purchased 5874 tonne and 69.27 lakh tonne of wheat respectively. Of the total quantity procured by government agencies around 17.02 lakh tonnes has been procured by food, civil supplies and consumer affairs department, 24.72 lakh tonne by HAFED, 8.23 lakh tonne by FCI, 6.36 lakh tonne by Haryana Agro Industries corporation and 12.91 lakh tonne by Haryana warehousing corporation. Sirsa is the leading district with 9.69 lakh metric tonne of arrival

Fall in Russian Milling Wheat Prices.
Ram Gopal Yadav (8 years ago)

Export prices for Russian milling wheat decreased by $1 per tonne on weekly basis. Russian wheat with a protein content of 12.5% and 11.5% for April- May delivery settled at $186-188/tonne FoB and $181-183/tonne FoB respectively. Milling wheat prices kept on falling in Russia due to strengthening of Rouble and sufficient market supply. Furthermore, millers have enough stocks to keep prices down.

Tunisia Buys Wheat Through Tender.
Ram Gopal Yadav (8 years ago)

Tunisia has bought around 75000 tonne of soft milling wheat in three consignments of 25000 tonne each. The first consignment was bought at $173.85/T C&F, second at $186.73/T C&F and third at $189.58/T C&F. The sellers were Europemarkets, Bunge and Nidera.