NCDEX wheat ends up as traders fear import duty recovery.
Ram Gopal Yadav (9 years ago)

Wheat futures contracts ended higher on the NCDEX as traders anticipate prices to rise if the govt recovers import duty on the food grain. The most active April wheat contract on the NCDEX up 0.6% from previous close. Govt has started buying wheat from farmers in Madhya Pradesh, Rajasthan and Gujarat at a MSP. In Madhya Pradesh benchmark Indore market, wheat prices fell due to a rise in supplies. About 25,000 bags (1bag=100kg) of wheat arrived in the market up from 20,000 bags.

Bharatiya Kisan Union calls for imposing duty on imported wheat to safeguard interests of farmers.
Ram Gopal Yadav (9 years ago)

Bharatiya Kisan Union has urged the Union govt to impose at least 25% custom duty on the import of wheat to safeguard the interests of Punjab farmers. The import of wheat was subject to 10% custom duty which was later withdrawn by the govt. Wheat crop in Punjab was about to arrive in mandis in the next few days and the price of imported wheat needs to be made uneconomical so that the entire wheat crop in Punjab could be procured by the govt agencies at MSP.

Asia Rice-Thailand rice prices firm on stronger baht but dip in Vietnam and India.
Ram Gopal Yadav (9 years ago)

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.
Ram Gopal Yadav (9 years ago)

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.

Ukraine barley exports currently up 18% year-on-year.
Ram Gopal Yadav (9 years ago)

About 200 KMT of barley was shipped abroad that month which is 8.4 times more than 24 KMT of Feb,2016. Ukraine exported 4670 KMT of barley in July-February of the current season which is 18% more than in the same period in 2015/16 (3964 KMT). Ukrainian barley shipments to the market of Libya also continue expanding and this share in Ukraine barley exports have already reached 19%. Deliveries to Israel increased to 143 KMT that is 65% more than exported there for the entire last season. Exports of Ukrainian barley to Lebanon market hit six times high as much as purchased for the entire marketing year of 2015/16.

Farmers to dump rice for corn when quantitative restriction ends in Manila(Philippine).
Ram Gopal Yadav (9 years ago)

Rice output could decline to below 18 million metric tonnes after the quantitative restriction on rice is scrapped on June 30. Rice output in MY 2017-2018 could settle at 17.93 MMT, lower than the 18.52 MMT projected for the current marketing year 2016-17 which would end on July 31. The projected decline in unmilled rice output, the imports could double to 2 MMT during MY 2017-18. Rice farmers are expected to shift to planting corn that local corn output could reach 8.3 MMT in 2017-18 which is 2% higher than the 8.1 MMT estimated output in 2016-17. In 2017/18, corn production will likely increase due to firm feed demand by the expanding domestic livestock and poultry industries. and also, this increase in corn production in the country imports could decline to 500,000 metric tonnes in 2017-18 from 600,000 metric tonnes in 2016-17.

NCDEX coriander hits 6 week high as output may fall.
Ram Gopal Yadav (9 years ago)

Futures contracts of coriander on the NCDEX extended gains and hit a 6-week high because of a likely decline in output in 2016-17 (Oct-Sep). The most active April contract on the NCDEX traded up 0.5%. Coriander output may be hit due to the late onset of winter followed by lower than normal temperatures in Rajasthan in mid-January and on expectation of above-normal temperatures later this month. Arrivals in Rajasthan were pegged at 45,000 bags (1bag=40kg) up 13,000 bags.