National Seeds Corp aims 20% more certified pulses seed supply FY18.
Maize falls over 2% on NCDEX as arrivals rise.
Futures of maize fell over 2% as arrivals of the rabi crop rose in the major markets across the country. The most active May maize contract down 2.5% from the previous close. Farm ministry has pegged India maize output at 26.15 million tonne in 2016-17 (Jul-Jun), up from 22.57 million tonne a year ago. Arrivals are expected to be on the rise till May 15, which is likely to keep prices subdued in the days ahead.
USDA arm expects Myanmar 2017 pulses output to rise 2% to 5.2 million tonne.
USDA arm expects Myanmar 2017 pulses output to rise 2% to 5.2 million tonne.
IGC ups 2017-18 global maize output raised to 1.026 billion tonne.
The forecast for global maize output in 2017-18 has been raised to 1.026 billion tonne from 1.024 billion estimated in March. The projection is lower than 1.059 billion tonne produced in 2016-17, Maize output is expected to be lower due to a sharp cut likely in the US and China crop, Maize production in the US in 2017-18 is likely to be at 360 million tonne, down from 384.8 million tonne a year ago, production is seen higher in another producers Argentina, Brazil, South Africa, and Ukraine. The estimate for carryover stocks of maize has been raised to 207 million tonne from 205 million tonne forecast in March.
Demand from mills lifts tur in Akola and Gulbarga unchanged.
Demand from mills lifts tur in Akola and Gulbarga unchanged.
Chhattisgarh aims 8.2 million tonne rice crop 2017-18, up 2%.
Chhattisgarh government has set a rice production target of 8.2 million tonne for 2017-18 (Jul-Jun), up 2% on year, Chhattisgarh is one of the largest rice producing states in the country and the grain accounts for the bulk of state kharif food grain output.
Maharashtra to rope in state cooperatives to buy 0.1 million tonne more tur.
Maharashtra to rope in state cooperatives to buy 0.1 million tonne more tur.
IGC ups 2017-18 global rice output unchanged 487 million tonne.
The IGC has kept the forecast for global rice output unchanged from previous month at 487 million tonne. The production estimate is higher than 483 million tonne produced in 2016-17.
NCDEX mustard down as output seen up and stocks increasing.
NCDEX mustard down as output seen up and stocks increasing.
NCDEX coriander hits 7-week low as demand poor.
Futures contracts of coriander extended losses and hit a seven-week low on the NCDEX because of poor demand from domestic consumers. The fall in prices was also triggered by a 795-tn rise in inventories at exchange-designated warehouses to 23,987 tonne on. The most-active May contract on the NCDEX was down 2.25% from the previous close. In Kota, market in Rajasthan, the Badami variety and the Eagle variety both down 200 rupees. Arrivals were unchanged at 4,000 bags (1bag=40kg).
Soybean hits 2-week low as oil millers buys decline.
Soybean hits 2-week low as oil millers buys decline.
MCX cotton down on profit booking, likely output rise.
Futures contracts of cotton on the MCX fell after rising in the previous session as traders booked profits, the most active May contract of cotton was at 21,000 rupees per bale (1bale=170kg), down 0.6% from the previous close. likely higher output in 2016-17 (Oct-Sep) has also kept sentiment bearish, Cotton output in Punjab, among the largest producers in the country, is likely to rise a whopping 220% on year to 1.26 million bales in 2016-17, while in Haryana, output is seen up 106% on year at 2.04 million bales, according to the third advance estimates from the farm departments of the two states. IMD has forecast the Jun-Sep southwest monsoon to be normal at 96% of the long-period average, adding to the expectations of higher production of cotton and weighing on sentiment.
MCX mentha oil down over 1% on hope of better crop.
MCX mentha oil down over 1% on hope of better crop.
Rabobank sees ICE cotton declining in long term.
Rabobank expects cotton futures on the Intercontinental Exchange to decline in the long term due to expectations of a rise in the area under the crop globally in 2017-18. the July cotton contract on ICE is trading at 79.17 cents a pound, down 0.3 cents. prices are anticipated to come under pressures as excellent global prices incentivise area expansion, global cotton acreage is expected to rise 4% in 2017-18 led by the US, China India, and Pakistan. The market expects 2017-18 US cotton acreage to be in the range of 11-12 million acres, while Rabobank sees it at 11.3 million acres.
India coffee exports during Jan 1- Apr 26.
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 tonne. The board has estimated the output for 2016-17 at 316,700 MT tonne, down 9% on year.
Rabobank sees ICE arabica coffee higher in long term.
Benchmark contracts of arabica coffee on ICE are expected to rise in the long term, due to a likely fall in production in Brazil, world largest coffee grower. The most active July contract of arabica coffee on ICE was at 130.4 cents per pound, down 0.3% from previous close. Lack of adequate rainfall in Brazil main coffee growing areas may hamper growth of coffee beans and lead to a drop-in production in 2018, Futures of arabica coffee have been under pressure due to speculative selling due to lack of major cues and no major movement in currencies,
Turkey resumed imports of Ukrainian wheat.
Ukraine exported 1053 KMT of wheat in March 2017, or almost as much as in the same month last year (1070 KMT was in March 2016). the key end market for Ukrainian wheat was Egypt. Ukraine supplied a season-record 347.5 KMT of wheat to Egypt that month. This represented 33% of total exports at the time, The European Union also revived imports of Ukrainian wheat in March. That month the EU absorbed over 26% of all the supplies – 278 KMT. In addition, in view of the heightened tension between Russia and Turkey, shipments to the Turkish market became more active in March. 46 KMT of wheat was supplied to Turkey that month – the largest volume since the season beginning (a total 73.4 KMT in MY 2016/17). Ukraine exported a total 14.615 MMT of wheat in the nine months of MY 2016/17, or 13% more than at the same time last season (12.912 MMT went abroad in July-March 2015/16Г).
Directorate General of Foreign Trade allots 60% of 0.5 million tonne duty-free raw sugar import quota to south.
Directorate General of Foreign Trade allots 60% of 0.5 million tonne duty-free raw sugar import quota to south.
Dairy body to buy 750 tonne maize via e-auction.
The National Cooperative Dairy Federation of India buy 750 tonne of maize through a reverse electronic auction on Friday. The commodity, used as cattle feed, be bought on behalf of Kerala Cooperative Milk Marketing Federation Ltd. The dairy body, which has nearly 200 dairy cooperatives as members, has developed an online trading platform to purchase feed stock and sell dairy products.
Maize price up in Telangana.
Prices of maize rose in the key market of Nizamabad, Telangana, due to firm demand from the poultry sector. The coarse grain was sold in Nizamabad, up 20 rupees from previous close. Arrivals during the day were around 3,000 bags, each carrying 100 kg of the grain. On the NCDEX, the most-active May contract ended 0.9% down on hope of rise in arrivals in the days ahead. Wheat and maize futures are expected to remain subdued as arrivals are likely to pick up in the days ahead.