Customs restricts exit of rice from free trade zones Abuja (Nigeria).
Spot wheat down as supplies rise in Madhya Pradesh.
Prices of wheat fell in the benchmark market of Indore. Madhya Pradesh as harvesting is at its peak in the state, with high supplies of the grain in markets Arrivals in Madhya Pradesh were higher today at 300,000-400,000 bags (1bag=100kg), up from 100,000 bags the previous day. Around 20,000 bags of wheat arrived in Delhi markets. The May wheat contract on the NCDEX fell marginally down 0.1% from the previous close. On the CBOT, wheat futures fell nearly 1% on subdued demand.
Barley down in Jaipur as new crop arrival gains pace.
Barley down in Jaipur as new crop arrival gains pace.
Food regulator says ITC, HUL, others to start fortifying wheat flour.
Major wheat flour producers like ITC Ltd, Hindustan Unilever Ltd, General Mills India Pvt Ltd, Patanjali Ayurved Ltd and Cargill India Pvt Ltd will start fortifying their wheat flour with iron, folic acid and vitamin B-12, said FSSAI. The fortified wheat flour will be available in different regions by July or August. The regulator has been pushing for fortification of all food products to enrich their nutritional quality, so as to deal with micronutrient deficiencies that are rampant in India.
Ukraine boosted grain exports by 9%.
Ukraine exported roughly 33.1 MMT of grains in the 2016/17 season by March 28, 2017, or 9% more than a year ago (30.3 MMT). The exports included 14.5 MMT of wheat (12.8 MMT in MY 2015/16), 13.6 MMT of corn (13.3 MMT) and about 4.78 MMT of barley (4 MMT). And 271.6 KMT of flour was shipped abroad in the period under review up 18% from the same time in 2015/16 (230.1 KMT).
National Food Authority in Philippine pegs deficit in govt rice stocks at 490,800 MT.
National Food Authority has appealed to the NFA Council to allow the importation of rice, as the deficit in its buffer stock stands at 9.8 million bags, equivalent to 490,800 metric tons (MT). NFA to maintain a buffer rice stock good to last for 15 days at any given time and for 30 days at the onset of the calamity-prone lean months, based on the daily consumption requirement of 32,150 MT. NFA needs an additional 490,800 MT of rice to meet the mandated volumes for food security. This additional stock to come from local produce, cannot compete with the private traders who are offering prices much higher than the government’s P17-per-kilogram support price.
Rice prices rise on flash floods in Sylhet (Bangladesh).
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).
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.
Barley down in Jaipur as new crop arrival gains pace.
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%.
Indian private traders import 44 lakh tonnes wheat in Apr-Feb FY17.
Indian private traders import 44 lakh tonnes wheat in Apr-Feb FY17.
NCDEX coriander at 3% lower limit as supply seen up.
NCDEX coriander at 3% lower limit as supply seen up.
Govt procures 5,243 tonne wheat in Uttar Pradesh, up three-fold on year.
Govt procures 5,243 tonne wheat in Uttar Pradesh, up three-fold on year.
Spot wheat down as supplies rise in Madhya Pradesh.
Spot wheat down as supplies rise in Madhya Pradesh.
Importing wheat from North costlier than importing from Australia for South India.
Importing wheat from North costlier than importing from Australia for South India.
Barley down in Jaipur as supply rises, demand decreases.
Barley down in Jaipur as supply rises, demand decreases.
Importing wheat from North costlier than importing from Australia for South India.
South Indian state, importing wheat from North India is costlier than importing the same from Australia, said Nirmala Sitharaman Union Minister of State for Commerce and Industry on 8th april. The Goods and Services Tax will actually make Indian goods cheaper for Indian customers rather than importing them.
Barley down in Jaipur as supply rises, demand decreases.
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.
Ukraine exported 5.5 MMT of wheat to Egypt.
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.
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.
Telangana Govt all set to start paddy procurement.
All arrangements were made for procurement of paddy during Rabi season in the State to ensure minimum support price to farmers. Paddy procurement operations would commence from the next week. The arrangements for procurement of paddy in Rabi season stating that 3,076 paddy purchase centres were opened, during Rabi last year, the corporation procured 8.42 lakh MT of paddy through 1,288 purchase centres. Paddy purchase centres target of procurement of 37 lakh MT. Market arrivals of paddy will be 11.35 lakh MT in April 18.92 LMT in May and 7.57 LMT in June.