PHL rice output likely grew 12.8% in Qtl.
Ram Gopal Yadav (9 years ago)

The country rice production in the first quarter may have expanded by 12.8 percent to 4.44 million metric tons (MMT), from 3.93 MMT recorded a year ago. Palay production for January-March 2017 may reach 4.44 MMT, 2.1 percent below the January 2017 round forecast of 4.53 MMT, but 12.8 percent higher than the previous year’s output of 3.93 MMT. The projected palay production in the first quarter of the year is higher than the actual first quarter output of 4.36 MMT recorded in 2015. In the January round of its survey, titled “Rice and Corn Situation Outlook”, the PSA said the probable increase in first quarter rice output is due to the expansion in harvest area. The continuous and heavy rainfall and strong winds that were experienced during the vegetative and reproductive stages of the crop in Capiz, South Cotabato, Leyte, Compostela Valley, Aurora, Aklan, Surigao Norte and Negros Oriental may cause production of these provinces to go down. The Philippine Statistics Authority (PSA) said harvest area in the January-to-March period may contract to 1.15 million hectares, from 1.16 million hectares, or by 0.9 percent. Also, yield per hectare may decline to 3.85 metric tons (MT), from 3.92 MT.

High supply drag down wheat prices in Indore, Delhi.
Ram Gopal Yadav (9 years ago)

Wheat prices fell in the benchmark markets of Indore, Madhya Pradesh and Delhi due to abundant supply. In Indore, wheat was sold down 50 rupees from previous close. while in Delhi, prices were down 20 rupees at previous close. Around 600,000 bags (1bag=100kg) of wheat arrived in Madhya Pradesh up from 450,000 bags. In Indore arrivals were at 40,000 bags. In Delhi, around 30,000 bags arrived. Uttar Pradesh and Haryana, almost double the number of bags that arrived. In Kota’s wholesale market in Rajasthan, prices fell by 5-10 rupees due to high arrivals in markets. Supplies in Rajasthan are already at their peak and about 150,000 bags of wheat arrive in the market daily wheat prices fell also on the National Commodity and Derivatives Exchange.

Maize prices rise in Davangere, unchanged in Nizamabad.
Ram Gopal Yadav (9 years ago)

Prices of maize rose in the benchmark market of Davangere, Karnataka because of better quality of the crop arriving in the markets. In avangere, karnataka the grain was sold up 100 rupees from previous close. Telangana, prices remained unchanged. 700 tonne, arrivals in Nizamabad were unchanged from previous close. The most active June contract of maize on the NCDEX was up 2.2% from the previous settlement.

NCDEX coriander hits 4% lower circuit on weak demand.
Ram Gopal Yadav (9 years ago)

Futures contracts of coriander on the NCDEX hit their 4% lower circuit due to lack of demand from Stuckists. On the NCDEX, the most active May contract was down 2.9%. A rise in inventories at exchange warehouses also weighed on prices. Exchange-designated warehouses had 16,599 tonne of coriander, compared with 16,271 tonne on previous close. In Ramganj, a key market in Rajasthan, the Badami and Eagle variety of coriander was sold down 100-150 rupees from the previous close. Arrivals in Ramganj were pegged at 40,000 bags (1bag=40kg) unchanged from the previous day.