NCDEX coriander hits 8-week high as arrivals decline.
Ram Gopal Yadav (9 years ago)

Coriander contracts rise for the third consecutive week and hit eight-week high due to lower arrivals and as demand from domestic and overseas markets rise. Arrivals at Kota were pegged at 6,000 bags (1bag=40kg), down 2,000 bags from the previous day. On the NCDEX, the most-active April contract was up 0.5%.

Import duty unlikely to affect wheat procurement in Punjab, Haryana.
Ram Gopal Yadav (9 years ago)

Private flour millers in Punjab and Haryana feel the 10% import duty will have little impact on wheat procurement for public distribution system while private buying of the cereal will remain limited due to lack of trading infrastructure and higher levy in the two-states. The procurement for public distribution system is expected to better than the last year in the two-states due to favourable weather this year. A target of 33 million tonne wheat has been set for the current procurement season, higher by 43 per cent over the last corresponding season. The procurement missed target due to scanty rains in the last year and stood at 22.96 million tonnes. The procurement figure stood at in Punjab and Haryana stood at 104.44 lakh tonnes and 67.78 lakh tonnes respectively in 15-16 Rabi season. This year Haryana is expecting around 75 lakh tonnes of wheat during the Rabi procurement season and procurement is expected to higher in Punjab as well.

5,000 wheat purchase centres become operational in UP.
Ram Gopal Yadav (9 years ago)

By ending the role of middlemen, 5,000 wheat purchase centres spread across Uttar Pradesh began functioning on April 1. CM Aditya Nath revised the target of wheat purchase and government agencies have been asked to buy 70 lakh tonne of the total target of 80 lakh tonnes in 2017. The previous Samajwadi Party government had purchased wheat through middlemen which will not be allowed at any cost by the present Bharatiya Janata Party government in the state, said CM.

IGC pegs India 2017-18 wheat output at 95.5 million tonne up 11%.
Ram Gopal Yadav (9 years ago)

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.
Ram Gopal Yadav (9 years ago)

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.

NCDEX coriander hits 8-week high on rising demand.
Ram Gopal Yadav (9 years ago)

Futures contracts of coriander on the NCDEX extended gains and hit an 8-week high as demand from domestic and overseas markets rise. Arrivals at Baran were pegged at 5,000 bags (1bag=40kg), up 3,000 bags from previous day. On the NCDEX, the most-active April contract was up 0.4%.

ITC buys 15,000 tn wheat in Kota over 15 days.
Ram Gopal Yadav (9 years ago)

Fast moving consumer goods major ITC Ltd has purchased 15,000 tonne new wheat crop from Kota market. StarAgri, an agricultural marketing company has also been buying 2,000-3,000 tonne of wheat from Kota every day. Many other trading houses are buying the commodity since the start of new crop arrivals to build up their stocks. About 70,000 bags (1bag=100kg) of wheat arrive in the Kota market in Rajasthan daily. Supplies are yet to peak and may cross 100,000 bags in next 15 days.