Sugar Up in Maharashtra on rise in demand, unchanged in north India.
Ram Gopal Yadav (9 years ago)

Prices of sugar rose in the key wholesale of markets of Maharashtra due to an increase in demand from bulk and retail buyers. Medium-grade sugar was sold up 7 rupees from previous close. Prices remained unchanged in Delhi and Muzaffarnagar amid thin trade. Demand has risen as stockists are replenishing their stocks. In Maharashtra, where prices had fallen for the past one week, demand also rose due to buying at lower price levels. Traders, however, are bearish on prices in the near-to-medium term. Demand not sustain for too long. It remains high only for this week. Prices in Maharashtra are also expected to fall as the selling pressure on mills is expected to increase once the imports come in.

Global body sees India 2017-18 cotton mill demand 5.2 million tonne, up 2%.
Ram Gopal Yadav (9 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 (9 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 (9 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.

Uttar Pradesh Oct 1-May 1 sugar output 8.7 million tonne, up 28% on year.
Ram Gopal Yadav (9 years ago)

Mills across Uttar Pradesh produced 8.70 million tonne of sugar during Oct 1-May 1, up 28% from a year ago. The state had produced 6.80 million tonne sugar during the corresponding period a year ago. Mills in the state have crushed 82.04 million tonne cane so far, compared with 64.08 million tonne in the year-ago period. Average sugar recovery in Uttar Pradesh as of Monday was 10.61%, slightly higher than 10.60% a year ago. Of the 116 sugar mills in the state that started cane crushing operations this year, 102 mills have wound up the process so far. With some mills in Uttar Pradesh still operating. Market participants expect output of the sweetener in the state this season to touch an all-time high of 8.80 million tonne, surpassing the previous high of 8.47 million tonne in 2006-07.

Spot sugar prices rise on improved demand.
Ram Gopal Yadav (9 years ago)

Prices of sugar rose in the key wholesale markets of Muzaffarnagar and Mumbai, as demand for the sweetener improved at low prices, and as Stuckists sought to replenish inventories at the start of the month. In Muzaffarnagar and Delhi, sugar was sold up 10 rupees from previous close. In Mumbai, sugar was sold up 5 rupees from Monday. In Maharashtra, where prices had fallen for the last one week, demand also rose due to buying at lower price levels. In north India, soaring prices are unlikely to sustain due to record high sugar output in Uttar Pradesh. Mills across Uttar Pradesh produced 8.70 million tonne of sugar during Oct 1-May 1, up 28% from a year ago. The government had on Apr 5 allowed duty-free import of 500,000 tonne of raw sugar under the tariff rate quota. The most-active May contract was up 0.2%.

ICE raw sugar up 1% due to lower output in Brazil.
Ram Gopal Yadav (9 years ago)

Futures contracts of raw sugar on the ICE rose over 1% due to a decline in production in Brazil Centre-South region in the first half of April. The contracts had declined to a 12-month low last week. the July contract was up 1.1% from the previous close. Mills in Brazil Centre-South region produced 704,000 tonne of sugar during the first fortnight of April, down 51% from a year ago. The sharp fall in sugar output could be attributed to lower grinding and a reduction observed in the production mix.

Iran Likely to Produce 22.5 MMT of Rice in 2017.
Ram Gopal Yadav (9 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 (9 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 (9 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 (9 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.