Asia Rice-Prices rise in India, stable in Vietnam.
Ram Gopal Yadav (8 years ago)

Rice export prices extended its upward trend in India on a stronger rupee, while Vietnam rates were stable amid a subtle market on low demand. India’s 5 percent broken parboiled rice prices RI-INBKN5-P1 rose by $7 per tonne to between $382 and $387 a tonne this week, as gains in the rupee forced exporters to raise prices despite sluggish demand. India, the world’s biggest rice exporter, mainly exports non-basmati rice to African countries and premier basmati rice to the Middle East. Its rice output could rise by 4.3 percent to a record high of 108.86 million tonnes in 2016/17. In Vietnam, the world’s third-largest rice exporter, market was quiet on low demand and unattractive rice prices amid worries over rainfall affecting grain quality. Abnormal rain in some harvesting areas has affected rice quality, but not too seriously. Vietnam’s rice exports are expected to plunge 23.9 percent annually to 1.19 million tonnes in the first quarter, after the grain shipments dropped 26.5 percent in 2016 due to lower output caused by climate changes. Thai benchmark 5-percent broken rice RI-THBKN5-P1 was quoted at $350-$365 a tonne free-on-board (FOB) Bangkok on previous close.

Prices of the non-basmati variety of rice were unchanged.
Ram Gopal Yadav (8 years ago)

Government had 23.08 million tonnes rice in its stocks as of Apr 1, higher than 22.16 million tonnes a year ago. Prices of the non-basmati variety of rice, Permal Raw, were unchanged from previous close, while prices of the steam variety of basmati rice, Pusa 1121, were also unchanged in major spot markets.

Paddy arrivals low at purchase centres.
Ram Gopal Yadav (8 years ago)

Paddy purchase at the official purchase centers in the current yasangi [rabi] may not touch the expected levels despite high yield as large quantities of fine variety grain is being transported to Karnataka to be sold at a higher price. Grade-A type arrived early from Bodhan, Varni, Kotagiri and Beerkur and Grade-B (common class) from Nandipet, Armoor, Balkonda and so on arrived at centers. At some places, it is still in a flowering stage. About 403 tonnes of Grade-B variety was transported to centers. As many as 78 purchase centers (all under PACS) as against the total of 240 were opened. The centers under MEPMA-2, IDCMS-4 and IKP-22 are yet to be launched. There is no dearth of gunny bags to pack the grain and 15 lakh bags were already distributed to PACs. Another, 35 lakhs were on hand. Indent was placed for yet another 50 lakh bags. The Government agencies mostly purchase Grade-B variety that is called IR-1010 at the MSP of Rs. 1,470 per quintal. Fine categories such as Ganga and Kaveri are unlikely to reach these official centers in large quantities. The Government allotted paddy for custom milling to 57 mills and considering another six mills for the purpose.

Govt buys prevent fall in maize prices.
Ram Gopal Yadav (8 years ago)

Prices of maize fell in Purnea, Bihar, as arrivals of the new crop picked up pace. The commodity was sold at in Purnea, down 50 rupees from the previous day. About 500 trucks (1truck=100kg) of maize arrived at the market up from 300 trucks on previous close. June contract of rabi maize ended slightly higher today due to a rise in demand for the new crop from the feed industry. The contract ended up 0.3%.

Govt FY18 wheat opening stocks 8.06 million tonne, down 44.6%.
Ram Gopal Yadav (8 years ago)

Government held 8.06 million wheat in its stocks at the beginning of the current marketing year, sharply lower than 14.54 million tonne last year. Govt stocks are lower this year due to poor output in the last two years, and high sales through the govt open market auctions to manage supply in wholesale markets. Stocks are likely to be replenished that the government has already started wheat procurement for the current marketing year and aims to purchase 33 million tonne against 22.9 million tonne bought last year. Govt has procured 3.9 million tonne wheat from farmers across the country, up 7.4% from a year ago.

Govt buys prevent fall in wheat prices.
Ram Gopal Yadav (8 years ago)

Wholesale prices of wheat were unchanged in Indore, Madhya Pradesh, primarily due to the govt procurement of the grain from farmers to check a fall in prices and build up stocks. Government is procuring wheat from farmers in the state at a MSP and has procured 2.1 million tonne of wheat in the state. Around 30,000 bags (1bag=100kg) of wheat arrived in the market almost unchanged from the previous day. Around 20,000 bags of wheat arrived in Delhi, mainly from Uttar Pradesh, higher than 15,000 bags.

Over production of rice lead to sharp drop in prices in West Bengal.
Ram Gopal Yadav (8 years ago)

Rice production in West Bengal may reach 173 lakhs million tonnes by 2017-18 from the current level of about 148 lakh MT through increased usage of high yielding varieties, improving soil drainage, spreading rice-fish culture and taking other such measures, apex industry body. This high increase in the production definitely drop in the prices.

US wheat planted area falls to record low.
Ram Gopal Yadav (8 years ago)

U.S. wheat planted area peaked in 2008-09 at 63.2 million acres and U.S. wheat planted area has fallen 27 percent to a projected 46.1 million acres in 2017-18. It will be 16% below the 5-year average of 55.0 million acres. The increased winter wheat planted area by 360,000 acres from January 2017 estimate to 32.7 million acres. The new estimate is still 9% down from 2016-17 planted area. The increase came from hard red winter area, estimated at 23.8 million acres up 2% from the previous projection. Still, HRW planted area will be down 10 percent from 26.5 million acres (10.7 million hectares) planted for 2016-17. hard Red Winter planted area will be down 10% from 26.5 million acres planted for 2016-17. Soft red winter planted area decreased from the previous estimate to 5.53 million acres. USDA expects white wheat acres planted in both winter and spring to reach 4.12 million acres for 2017-18, down slightly from 2016-17.