FCI has procured 389,792 tonnes higher than around 376,000 tonne procured a year ago. Around 389,000 tonne, almost all of the procured grain has come from Madhya Pradesh. Farmers in Madhya Pradesh are choosing to sell their crop to government agencies as market prices have now fallen below the MSP of offered by the Centre. In Gujarat, about 480 tonnes of wheat has been procured so far, while in Rajasthan is at 312 tonne.
Russian wheat prices fall on weaker demand from Egypt, Turkey.
Russian wheat export prices fell due to lower demand from Egypt and Turkey. Turkey put purchases of wheat, maize and sunflower from Russia on hold from mid-March. Russia exported 26.9 million tonnes of grain between July1 and March22, down 1.8% from a year earlier including 20.6 million tonnes of wheat. Domestic prices for third-class wheat, excluding delivery, fell in the European part of Russia. (Source: Reuters)
Solvent Extractors Association of India ask to paddy, wheat farmers of Punjab, Haryana to grow mustard.
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.
Russia Sends Wheat to Syria as Aid.
A shipment of 31,500 tonnes of wheat from Russia has arrived in Tartous (Syria). This shipment is the 2nd batch of Russian aid as a ship loaded with 17,300 tonnes of wheat arrived in Tartous early this month. The total amount of the soft wheat provided by the Russian govt to the Syrian people has reached 48,893 tonnes so far.
Prices of rice basmati and non-basmati firmed up.
The wholesale grains market during the week on the back of rising demand from retailers against restricted supplies. An increase in demand from retailers against tight stocks position on fall in supplies from producing regions mainly attributed the rise in rice basmati and non-basmati prices. In the national capital, rice basmati common and Pusa-1121 variety rise respectively. Non-basmati rice, permal raw, wand and IR-8 followed suit and finished higher from previous close.
Emami Agritech sees FY18 rice bran oil output rising 20%.
Rice bran oil production is expected to grow 20% in 2017-18 (Apr-Mar) to 1.2 million tonnes owing to rising demand from health-conscious consumers. Major demand for the oil is seen arising from West Bengal, Punjab and some pockets in southern India. The country produced around 1 million tonnes of the premium oil last year. In West Bengal, rice bran oil production is seen growing to around 200,000 tonnes in 2017-18 from 180,000 tonnes in 2016-17.
Lower supplies lift barley to 1-week high in Jaipur.
Barley prices hit a one-week high in Jaipur due to lower arrivals and rise in demand from malt industries. Arrivals of the new crop were estimated at 5,000 bags (1bag=85kg) compared with 8,000 bags. Strong demand from stockists and feed sector also supported barley prices. Supplies are lower because farmers are holding their produce in the expectation of prices to rise in the coming days.
NCDEX coriander hits 7-week high as output seen down.
Futures contracts of coriander on the NCDEX extended gains with the April and May contracts hitting seven-week high because of rise in demand and as production is seen lower in 2016-17 (Oct-Sep). Most-active April contract on the NCDEX traded up 0.83% from previous close. Arrivals in Kota were unchanged at 10,000 bags (1bag=40kg).
Delhi wheat prices up on high demand for fresh crop.
Delhi wheat prices up on high demand for fresh crop.
Wheat should be purchased at society level in place of silo in Indore.
Wheat should be purchased at society level in place of silo in Indore.
Russia Sends Wheat to Syria as Aid.
Russia Sends Wheat to Syria as Aid.
Prices of rice basmati and non-basmati firmed up.
Prices of rice basmati and non-basmati firmed up.
Emami Agritech sees FY18 rice bran oil output rising 20%.
Emami Agritech sees FY18 rice bran oil output rising 20%.
Lower supplies lift barley to 1-week high in Jaipur.
Lower supplies lift barley to 1-week high in Jaipur.
NCDEX coriander hits 7-week high as output seen down.
NCDEX coriander hits 7-week high as output seen down.
Delhi wheat prices up on high demand for fresh crop.
Wholesale prices of wheat in the key market of Delhi rise due to good demand for the new crop. Prices are likely to fall in the next 10 days, once arrivals start from all growing regions across the country. In Madhya Pradesh, prices were unchanged.
Wheat should be purchased at society level in place of silo in Indore.
Wheat purchasing should be done on support price at society level in place of silo centres. The state govt has directed to purchase the wheat on support price at silo centres to provide benefit to industrialists. Farmers are bound to face additional financial burden after paying extra transportation charges to bring their crops to silo centres. State government should permit the farmers to sale their wheat crops at society level, the farmers will be able to save huge amount of money. (Source: The Free press)
Non-basmati rice edges up on increased demand in India.
Non-basmati rice prices firmed up at the wholesale grains market due to increased demand from retailers. Increased demand from retailers against restricted supplies from producing regions mainly helped non-basmati rice prices to trade higher.
Asia Rice-Thailand rice prices firm on stronger baht but dip in Vietnam and India.
Rice prices firmed in Thailand on a stronger baht while prices dipped in Vietnam and India. Thailand sold 3.6 million tonnes of rice abroad between the start of the year and March21 which is up 2.7% from the same period last year. In India, 5% broken parboiled rice fell due to amid less demand. In Vietnam, 5% broken rice fell as supply increased during the main harvest season. Global demand is not so strong as Thailand is still selling their inventor. Vietnam rice shipments fell 26.5% last year to 4.8 million tonnes, while exports of the grain in the first two months of 2017 decreased 23.5% year on year to 738,000 tonnes.
Rain and hail flatten ripe crops in Rajasthan.
Heavy rain and hailstones damaged Rabi crops of wheat, barley, cumin, mustard, gram and potato as well as vegetable farms in the countryside that feed Delhi and all major urban centres in western and northern states.