Govt to sell 8 million tonnes from rice stocks this year in Thailand.
Ram Gopal Yadav (8 years ago)

Govt plans to sell 8 million tonnes of white rice inventory within this year. The inventory is part of rice stocks of 18 million tonnes accumulated from the rice subsidy scheme implemented by previous govt. 8 million tonnes comprise three grades of rice; 3 million tonnes food grade, 3.66 million tonnes industrial-use grade and 1 million tonnes of rotten rice which can be used only for alcohol production. Govt put up 1.3 million tonnes of food-grade rice for auction last month and another 1.5 million tonnes will be put up for auction in May.

Farmers to dump rice for corn when quantitative restriction ends in Manila(Philippine).
Ram Gopal Yadav (8 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 (8 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.

U.S wheat fall to multi-week low.
Ram Gopal Yadav (8 years ago)

U.S. wheat futures dropped to their lowest level in more than six weeks and their second straight day of declines as weather forecasts bolstered expectations for strong yields adding to already high supplies in the coming weeks. Good rains expected to build across much of the winter wheat belt over the next 10 days. CBOT May soft red winter wheat settled down 3-3/4 cents. Weather for U.S. winter crop is expected to improve and there is more downside for wheat prices.

Wheat arrivals rise in Indore, prices above MSP.
Ram Gopal Yadav (8 years ago)

Wheat arrivals rise sharply in the benchmark market of Indore as farmers refrained from selling high quality produce to the govt. Around 25,000 bags (1bag=100kg) of the new crop arrived in Indore sharply up from 12,000-14,000 bags. Fresh crop arrivals rose as farmers brought quality crops to the market instead of selling it to the govt at a much lower MSP.

Higher temperatures may hit wheat crop in northwest.
Ram Gopal Yadav (8 years ago)

The India Meteorological Department has forecast a 2-4 degree Celsius rise in maximum temperatures in north western and central India over the next three days. Higher temperatures in north western India could increase the susceptibility of the late sown wheat crop to wheat rust, fungal disease. Higher temperatures could be beneficial for the wheat grown in Madhya Pradesh as it would take the moisture out of the crop ready for harvest.

Lower supplies lift barley prices in Jaipur.
Ram Gopal Yadav (8 years ago)

Barley prices rise in Jaipur due to lower supplies in the market coupled with higher demand from stockists and feed sector. Arrivals of the new crop were estimated at 6,000 bags (1bag=85kg) compared with 10,000. Barley arrivals fell in Rajasthan due to rains. Expectations of a rise in demand from malt industries due to onset of summer season also supported prices.

NCDEX barley up over 1% taking cues from spot markets.
Ram Gopal Yadav (8 years ago)

Futures contracts of barley on the NCDEX were up over 1% tracking the spot market in Jaipur. The most active April contract on the NCDEX was up 1.73%. Prices in Jaipur rise due to lower supplies in the market as well as higher demand from stockists and the feed sector. Arrivals of the new crop were estimated at 6,000 bags (1bag=85kg), compared with 10,000 bags.

NCDEX coriander hits 6 week high as arrivals decline.
Ram Gopal Yadav (8 years ago)

Futures contracts of coriander on the NCDEX hits 6 week high because of low arrivals at the benchmark market in Rajasthan. The most active April contract on the NCDEX traded up 0.33%. Arrivals in Rajasthan were pegged at 32,000 bags (1bag=40kg) down 18,000 bags. Likely decline in coriander output in 2016-17 (Oct-Sep) is also seen contributing to the rise in prices.

No damage from rains so far for coriander; concerns remain.
Ram Gopal Yadav (8 years ago)

Unseasonal rains in Rajasthan over the last three days have not caused much damage to the coriander crop so far but likely spells of heavy rainfall in the key growing areas pose a threat. 30-40% of the mature coriander crop still standing and forecast of rainfall this month has kept growers and traders on edge about likely damage to the harvest. Coriander crop in some areas of Jodhpur and Barmer districts in the state may see some quality erosion in the form of discoloured grains though the production volume may remain unchanged. Rainfall in Rajasthan is likely to bring colour variations in the standing crop of Badami and Eagle varieties of coriander.