Delhi wheat down on low demand from coastal states.
Ram Gopal Yadav (9 years ago)

Delhi wheat down on low demand from coastal states. Mill-quality wheat was sold down 20 rupees in Delhi from previous close. Coastal states of Maharashtra, West Bengal, and south Indian states have already imported wheat for their stocks lower than the prevalent prices in north India. This has led to lower demand from these states. Arrivals in Delhi were around 35,000 bags (1bag=100kg). Prices have fallen as demand for wheat from Mumbai, West Bengal, and southern states is weak as there is a lot of imported wheat stocked at ports. India wheat imports in 2016-17 (Apr-Mar) are estimated at a record high 5.5 million tonne of the total imported wheat, nearly 2 million tonne is still unsold.

Govt procures 16.5 million tonne wheat this month, up 13% on year.
Ram Gopal Yadav (9 years ago)

The government today said it has procured 16.5 million tonne wheat since the start of the fiscal year this month, up 12.8% from a year ago. The procurement was the highest in Punjab, where the government has purchased 6.4 million tonne wheat so far, up 12% from the year-ago period. In Haryana, another major producer of wheat, the government has bought 5.7 million tonne of the grain, up 5.6% from a year ago. The government has purchased 3.6 million tonne wheat in Madhya Pradesh, up nearly 15% on year, while in Uttar Pradesh, it has bought 321,105 tonne so far, sharply higher than 105,246 tonne in the year-ago period. The Uttar Pradesh government has set a target to procure 8 million tonne wheat this year, much above the central government’s 3-mln-tn target for the state. The central government has set a target to procure 33.0 million tonne of wheat for the current marketing season, up from 22.9 million tonne a year ago.

USDA sees Australia 2017-18 wheat exports down 18% year of year.
Ram Gopal Yadav (9 years ago)

Exports of wheat from Australia in 2017-18 (Oct-Sep) are likely to fall by 18.2% on year to 18 million tonne due to transportation problems. Strong exports of pulses and canola due to higher demand for these commodities may lead to a hassle in transportation facilities and is likely to hit wheat exports. The port and logistical problems due to a shortfall in shipping containers may hamper wheat exports. Australia caters to a significant part of India wheat imports. India is also expected to import lesser wheat this year due to a bumper crop at home.

NCDEX coriander down 1%; demand low, inventories up.
Ram Gopal Yadav (9 years ago)

Futures contracts of coriander on the NCDEX were trading 1% lower because of weak demand from domestic retailers. The fall in prices was also triggered by a 518 tonne rise in inventories at exchange-designated warehouses to 18,586 tonne. The most active May contract on the NCDEX traded down 1% from the previous close. In Kota, the benchmark market in Rajasthan, the Badami variety of coriander and the Eagle variety both unchanged from previous close. Arrivals were pegged at 6,000 bags (1bag=40 kg) down 2,000 bags from the previous day.

India coffee exports during Jan 1- Apr 19.
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.

Dairy body to buy 3,000 tonne maize via e-auction.
Ram Gopal Yadav (9 years ago)

The National Cooperative Dairy Federation of India buy 3,000 tonne of maize through a reverse electronic auction. The commodity, used as cattle feed, will be bought on behalf of Karnataka Milk Federation. The federation, which has nearly 200 dairy cooperatives as members, has developed an online trading platform to purchase feed stock and sell dairy products.

Govt wheat procurement up 12% on year at 15 million tonne so far in FY18.
Ram Gopal Yadav (9 years ago)

The government has procured 15 million tonne wheat in 2017-18 (Apr-Mar) up 12.1% from a year ago. Punjab has surpassed Haryana to become the highest contributor to the government’s procurement drive. The government has so far purchased 5.5 million tonne wheat from farmers in the state, up 13.5% from the year-ago period. In Haryana, the government has bought 5.4 million tonne wheat, up 3.4% from a year ago. The government has purchased 3.4 million tonne wheat in Madhya Pradesh, up 12.9% on year, while in Uttar Pradesh, it has bought 267,995 tonne so far, sharply higher than 77,807 tonne in the year-ago period. The Uttar Pradesh government has set a target to procure 8 million tonne wheat this year, much above the central government’s 3- million tonne target for the state. The state government has also offered an incentive of 10 rupees per 100 kg for loading and transportation of the crop, Overall, the central government has set a target to procure 33.0 million tonne of wheat for the current marketing season, up from 22.9 million tonne a year ago.

India Govt procures 15 million tonne wheat so far, spot price stable.
Ram Gopal Yadav (9 years ago)

Wheat prices in key wholesale markets of the country remained unchanged as government procurement offset high supplies the government has procured 15 million tonne wheat for the 2017-18 (Apr-Mar) marketing season, up 12.1% from a year ago. Taking cues from spot markets, the most active May wheat contract on the National Commodity and Derivatives Exchange closed flat. The contract ended down 0.1% from the previous close. The most active July wheat contract on the CBOT was at $4.36 a bushel, up 0.4% from the previous close.