Govt imposes 10% import duty on wheat with immediate effect.
Ram Gopal Yadav (9 years ago)

Govt has imposed a 10% customs duty on import of wheat with immediate effect to restrict fall in their prices following a bumper crop in the country this year. Govt had scrapped the 10% import duty on wheat as supply in wholesale markets had dried up and prices had hit a record high. In the benchmark Indore market, wheat was sold lower than the MSP. After the removal of the duty in December, imports of wheat rise to a record 5 million tonnes in the current financial year.

Syria gets 50,000 tonnes of Russian wheat in aid.
Ram Gopal Yadav (9 years ago)

Syria has received 50,000 tonnes of Russian wheat as humanitarian aid. Russian govt said in November their country plans to send around 100,000 tonnes of wheat as aid to Syria. A deal struck in October for Syria to buy 1 million tonnes of Russian wheat with little known firm Zernomir is in jeopardy.

Govt to spend Rs225 billion on wheat procurement in Pakistan.
Ram Gopal Yadav (9 years ago)

Govt decided to purchase Rs225 billion worth of 7.05 million tonnes wheat, allow export of 200,000 tonnes of sugar and to pay one-month salary to Pakistan Steel Mill employees. The decisions were taken at a meeting of the Economic Coordination Committee (ECC) of the Cabinet presided over by Finance Minister Ishaq Dar.

Guyana cleared for paddy exports to Mexico.
Ram Gopal Yadav (9 years ago)

Guyana will now be able to bid on three quotas, totalling 30,000 metric tonnes of paddy for export to Mexico, following the Govt of Mexico decision to allow the tax-free importation of 150,000 metric tonnes of paddy and rice products from outside of the North American Free Trade Agreement(NAFTA) member states. Normally taxes for countries, other than NAFTA member states, trading with Mexico, are 9% on paddy and 20% on rice products.

India needs 120 million tonne rice by 2030.
Ram Gopal Yadav (9 years ago)

India will need to produce 120 million tonnes of rice in 2030 to feed its one and a half billion plus population using less land, less water, less manpower and optimising all agri input usages. Cultivable land areas are expected to shrink and there will be pressure on resources. Rice is the staple food for more than 60% of Indians. The current production is about 106 million tonnes. (Source: Times of India)

Barley exports down 23% from last year in Kazakhstan.
Ram Gopal Yadav (9 years ago)

Kazakhstan barley exports turned down in 2017 and 89.8 KMT of this commodity was shipped for export against 148 KMT 2016 (down almost 40%). Thus, Kazakhstan exported 27% less barley in the five months of the current season compared to the same period a year ago (445 KMT against 609 KMT in September-January 2015/16). Iran remains the top market for Kazakh barley with an export share reaching 90%. Shipments of Kazakhstan barley continue to the US market in which U.S. imported 18.5 KMT of barley from Kazakhstan that is almost twice as much as last season. In Kazakhstan, total barley harvest in net weight was 3.2 MMT in 2016, or 18.5% more than in 2015.

Solvent Extractors Association of India ask to paddy, wheat farmers of Punjab, Haryana to grow mustard.
Ram Gopal Yadav (9 years ago)

Solvent Extractors Association will ask paddy and wheat growers in Punjab and Haryana to partly switch to mustard so as to meet the aim of 10 million tonne mustard output by 2020. A shift to mustard will also check a sharp fall in underground water table level in the two states as the oilseed crop needs comparatively less water for growth. Use of genetically modified mustard crop would also help in meeting the objective of 10 million tonne mustard production. Higher mustard production in domestic markets will reduce burden on imports of edible oils. The country meets 70% of its domestic demand through imports of edible oils and Mustard crop accounts for around 20% of the total oilseed basket.

Barley prices down in Jaipur as arrivals increased.
Ram Gopal Yadav (9 years ago)

Prices of barley fell in Jaipur because arrivals of the grain increased due to low demand from stockists and the feed sector. Arrivals of the new crop were estimated at 150,000 bags (1bag=85kg) compared with 50,000 bags. The most-active April contract of barley on the NCDEX was down 1.16%. Supplies of barley have increased because arrivals of the new crop have gained pace. Limited purchases from malt industries also weighed on prices.

NCDEX coriander up for 3rd week as exports seen strong.
Ram Gopal Yadav (9 years ago)

Futures contracts of coriander on the NCDEX rise for the straight third week due to expectations of strong export demand. The most active April contract of coriander on the NCDEX, up 0.2%. Arrivals of coriander in Kota were unchanged at 45,000 bags (1bag=40 kg).