International Grains Council has pegged India wheat output for the marketing year starting April at 95.5 million tonne up from the estimate of 86 million tonne for the previous year. Wheat output is likely to rise due to higher acreage, adequate soil moisture during the sowing season and favourable conditions during growth period. A record production in 2016-17, global wheat output in 2017-18 is likely to fall by 2.5% on year to 734.5 million tonne, said IGC. Wheat output is likely to fall in major producers Australia, Canada, US, Ukraine, and Kazakhstan. Production of the grain is seen higher in the European Union.
FCI procures 706,676 tonne wheat so far in three states.
FCI has procured 706,676 tonne wheat from Madhya Pradesh, Rajasthan, and Gujarat so far, compared with 517,020 tonne procured in the year-ago period. FCI is procuring wheat from farmers at a minimum support price. Of the total purchases, 704,000 tonne was bought in Madhya Pradesh, about 1,998 tonne wheat was purchased in Rajasthan and 678 tonne in Gujarat. Procurement in other parts of the country starts on April 1 and FCI will open about 10,000 centres across the country. Govt plans to procure 33 million tonne wheat, up from 22.9 million tonne purchased last year.
Turkey buys European, Ukrainian wheat to replace Russian origin.
Turkish millers imported at least 500,000 million tonne of high protein wheat from alternative Black Sea and European origins for April shipment. Turkish authorities on March 15 ditched tax exemptions of a 130% import duty on wheat imports from Russia. Since then the Turkish flour industry has found itself in need of diversifying its origins. Turkey needs at least 400,000-450,000 million tonne of monthly imports of wheat. At least 100,000 million tonne of Ukrainian wheat has already been purchased. 50,000 million tonne of Hungarian wheat was booked as well as 350,000 million tonne of Latvian and Lithuanian wheat. Turkish millers preferred the quality from the small Baltic states than Hungarian and Ukrainian origin and is very competitively priced. Latvian and Lithuanian annual exports for the 2016-17 marketing year are estimated at less than 2 MMT.
Rice basmati extends gain on strong demand.
Rice basmati prices rise up at the wholesale grains market following pickup in demand. Pick-up in demand from retailers against restricted supplies from producing regions, mainly led to the rise in rice basmati prices.
Rice output up 5.34% in Philippine.
Philippine rice production in the first quarter expanded by 5.34 percent to 4.14 million metric tons (MMT), from the 3.93 MMT recorded in the same period last year. The increase in production could be attributed to good weather and the use of high-yielding hybrid rice seeds. A total of 4,142,960 MT was harvested from an area of 997,687 hectares in the first quarter, compared to only 3,932,292 MT, from a bigger area of 1,081,096 hectares during the same period in 2016. Mali (West Africa) expects 8% increase in rice output to 3 million tonne in 2017/18. Mali expects to increase its rice output to 3 million tonnes in the 2017/18 season, about 8% more than the previous crop. Mali (West Africa) is second biggest rice grower after Nigeria. The ministry showed 2.78 million tonnes of rice were produced in 2016/17. The forecast of three million would be over an area of 947,878 hectares cultivated.
Barley up in Jaipur on bargain buying.
Barley prices were up in Jaipur because demand from stockists rise after prices hit a one-week low. Lower arrivals also supported barley prices. New crop arrivals of barley were estimated at 100,000 bags (1bag=85kg), compared with 150,000 bags. Futures contracts of barley rise 2% taking positive cues from the spot market in Jaipur.
NCDEX coriander hits 8-week high as arrivals decline.
NCDEX coriander hits 8-week high as arrivals decline.
Import duty unlikely to affect wheat procurement in Punjab, Haryana.
Import duty unlikely to affect wheat procurement in Punjab, Haryana.
5,000 wheat purchase centres become operational in UP.
5,000 wheat purchase centres become operational in UP.
IGC pegs India 2017-18 wheat output at 95.5 million tonne up 11%.
IGC pegs India 2017-18 wheat output at 95.5 million tonne up 11%.
FCI procures 706,676 tonne wheat so far in three states.
FCI procures 706,676 tonne wheat so far in three states.
Western Canadian wheat bids seen softening.
Spring wheat bids in Western Canada were lower during the week ended March 24, as favourable weather in the U.S. Plains and large world supplies weighed on the market. Average Canada Western Red Spring wheat prices were down $4-$5 per tonne across the Prairie provinces. Average durum prices were mostly lower, with bids in southern Alberta, up by 25 cents, being the lone exception. Bids in Saskatchewan were steady to down $2 per tonne, to range from $260 to $263.
Lima grain barley exported from Pacific Northwest (North America) to South Africa.
Lima grain barley exported from Pacific Northwest (North America) to South Africa.
NCDEX wheat fall as supply seen rising in spot.
Futures contracts of wheat fell on the National Commodity and Derivatives Exchange today due to expectation of a rise in supply in coming days. Arrivals of wheat usually peak in April when crop is harvested in most states. In Indore, about 40,000 bags (1bag=100kg) of wheat arrived and in Kota market, arrivals were at 60,000-70,000 bags.
NCDEX coriander hits 8-week high on rising demand.
NCDEX coriander hits 8-week high on rising demand.
Philippine may review rice imports on larger crop.
The country was looking to import 250,000 tonne of rice from Vietnam. Rice output in Philippine is seen higher because of favourable conditions and no infestation so far. Philippine is among the largest importers of rice, buying mostly from neighbours Thailand and Vietnam.
Pakistan sends rice for drought-hit Sri Lanka.
Pakistan will send 10,000 metric tonnes of rice to Sri Lanka which is facing its worst drought in four decades. The first shipment of the consignment will depart from Pakistan on March31 and reach Sri Lanka on 3rd April. Earlier, 25 metric tonnes of rice was airlifted to Colombo on February8 as immediate short term assistance.
Rice prices rise in India, Thailand on stronger currencies.
Rice prices firmed in Thailand and India on stronger local currencies, while prices weakened in Vietnam as the country entered its peak harvest season. In India, percent broken parboiled rice prices rise by $2 per tonne to $373 to $378 a tonne this week, as gains in the rupee led exporters to raise prices. The rupee was near its highest level in about 18 months. Prices of the benchmark 5% broken rice rise to $350-$365 a tonne free-on-board (FOB) Bangkok from $350-$36 as the baht appreciated against the U.S. dollar, but demand has been low. In Vietnam, its main harvest season since late March, pushing down prices of the 5% broken rice to $348-$350 a tonne FOB Saigon from $350-$355. Vietnam rice exports are expected to fall 23.9% annually to 1.19 million tonnes in the first quarter, after its shipments of the grain dropped 26.5% in 2016 due to lower production caused by climate changes.
Barley stocks in Ukraine 24% up year-on-year.
Ukraine reserves of grains and pulses totalled 19.21 MMT as of March1, 2017 that is 18.7% more than at the same time last year (16.19 MMT). Barley inventories are 24% up from last year, amounting to 1.59 MMT (1.28 MMT).
Lima grain barley exported from Pacific Northwest (North America) to South Africa.
Lima grain Europe and Lima Grain Cereal Seeds sent 12 tonnes of the malting barley variety LCS Genie to South Africa for farming and malting purposes. This barley variety high-yielding and passed all the malt tests in the U.S which yields have high with the feed barley. Recently Lima Grain Cereal Seeds has sent varieties to India, Australia and South Africa.