Rice prices rise on flash floods in Sylhet (Bangladesh).
Ram Gopal Yadav (7 years ago)

Rice prices edged up as large millers are cashing in on crop losses, caused by the recent flash floods in the greater Sylhet region, amid depleting stocks from previous harvests and low imports. In Dhaka, retail prices of coarse rice such as the swarna variety ise to a new level of Tk 40-42/kg, up 6.49% from Tk 37-40 a week ago. Prices of the medium and fine categories of the staple also went up between 1.96 percent and 4.65 percent in the last one week. The flood has affected 1.40 lakh hectares of paddy in the fields. Speculation over delayed harvest for the bad weather is another reason for the recent price spiral as farmers, small and medium millers and wholesalers do not have paddy stocks. Govt can reduce the import duty on rice to encourage imports and increase the supply in the market. Rice imports by private traders slumped 65 percent to 76,600 tonnes in July-March of the current fiscal year from the same time last year, after the government hiked the duty from 20% to 28% to ensure that growers get fair prices for their produce.

Customs restricts exit of rice from free trade zones Abuja (Nigeria).
Ram Gopal Yadav (7 years ago)

According to Nigeria Customs Service, it has restricted the exit of rice from Free Trade Zone in the country to ensure total compliance to the ban on the importation of rice. Due to the high level of security along the border lines, some Nigerians were taking advantage of the status of the Free Trade Zone to smuggle rice into the country.

Indian private traders import 44 lakh tonnes wheat in Apr-Feb FY17.
Ram Gopal Yadav (7 years ago)

Private traders have imported 44.10 lakh tonnes of wheat from April 2016 to February 2017, said govt. Govt had wheat stock of 94.29 lakh tonnes at the beginning of March as against the buffer norm of 64.60 lakh tonnes as on April 1. The wheat stock is likely to improve in the coming months when Rabi crop arrives in markets.

Barley down in Jaipur as new crop arrival gains pace.
Ram Gopal Yadav (7 years ago)

Prices of barley fell in Jaipur due to higher arrivals and a lacklustre demand from stockists and feed sector. New crop arrivals of barley were estimated at 90,000 bags (1 bag = 85 kg) compared with 75,000 bags previous close. The most-active May contract of mustard seed on the NCDEX was down 0.8%.

Barley down in Jaipur as supply rises, demand decreases.
Ram Gopal Yadav (7 years ago)

Prices of barley down in Jaipur for the second straight day due to an increase in the arrivals coupled with slow demand from stockists. Arrivals of the new crop of barley were estimated at 80,000 bags (1bag=85kg) compared with 70,000 bags of previous close. Expectations of higher output of barley for 2016-17 (Jul-Jun) is creating bearish sentiment in the market. On the NCDEX, the most-active May contract of barley traded down 1.3% from previous close.

Govt buys 950,000 tonne wheat in Madhya Pradesh.
Ram Gopal Yadav (7 years ago)

Govt procured 950,000 tonne wheat in Madhya Pradesh so far in the current marketing year ending March. Govt is buying wheat from farmers at the minimum support price and will use it to build its stocks, and to ensure adequate returns to farmers. The procurement is expected to rise in next two to three days as many farmers believe it is auspicious to sell their crops after Navratri. Madhya Pradesh is expected to produce a record 21.0 million tonne wheat in 2016-17 (Jul-Jun), up from 18.4 million tonne a year ago. Wheat procurement has also begun in Punjab, Haryana, and Uttar Pradesh, and government so far purchased nearly 200 tonne of the grain from these states. Govt is targeting to buy 22 million tonne wheat from Punjab, Haryana and Uttar Pradesh in the current crop year ending June. Govt has set its wheat procurement target at 33 million tonne, up from 22.9 million tonne bought a year ago.

Uttar Pradesh to pay 10 rupees/100 kg extra for wheat procurement.
Ram Gopal Yadav (7 years ago)

Uttar Pradesh will pay 10 rupees over and above the minimum support price for wheat procurement in the state. The incentive given to the farmers to pay labour to load and transport their produce to wheat procurement centres. To eliminate the role of middlemen in procurement operations, the state government will check farmers Aadhar cards and account books while making payments to them. Govt has opened 5,000 procurement centres across the state and govt is targeting to buy 8 million tonne wheat from farmers in the current marketing year against 7.97 million tonne purchased in the previous year.

Ukraine exported 5.5 MMT of wheat to Egypt.
Ram Gopal Yadav (7 years ago)

In 2016, Ukraine exported 5.5 MMT of wheat and 841 KMT of oilseeds to Egypt that represented over 12% of Ukraine total exports of these crops. Egypt has recently decided to liberalize its phytosanitary requirements to grain imports. In particular, this concerns permissible levels of ergot and ambrosia seeds in cereal and pulse grains.

India Wheat output to hit record high of 98 million tonnes despite soaring mercury.
Ram Gopal Yadav (7 years ago)

India wheat output will not suffer because of increased temperatures, as the crop nearing harvest in the top producing states of Punjab, Haryana and Uttar Pradesh has passed the stage which was vulnerable to the change in weather. The predicted production of the wheat this crop year to be an all-time high at 97-98 million tonnes, or even to touch 100 million mark, said Gyanendra Pratap Singh of the Directorate of Wheat Research at Karnal, Haryana. In Punjab and Haryana, average yields to be 48 quintals per hectare while in some places yields can go as high as 70 quintals per hectare. And the average yield in the country is 31 quintals.