Debut for Black Sea wheat derivatives contract.
Ram Gopal Yadav (9 years ago)

Agricultural traders and investors are looking for the debut of a new derivative product that will allow them to bet on the benchmark price of Black Sea wheat. Russia became the leading exporter of wheat last year. Russia, Kazakhstan and Ukraine, collectively known as the Black Sea region among grain traders which accounted for just under a third of global wheat exports in the 2015-16 crop season. Grain brokers have started to offer over the counter Black Sea derivative contracts based on the Russian wheat benchmark shipped out of the Novorossiysk port. The first derivative deal based on Black Sea wheat prices from S&P Global Platts, the commodities pricing agency was traded last week.

Barley down in Jaipur on supply surge on weak demand
Ram Gopal Yadav (9 years ago)

Prices of barley fell in Jaipur because of a surge in arrivals and less demand from feed sector and stockists. Arrivals of the new crop were estimated at 15,000 bags (1bag=85kg) compared with 5,000 bags. Demand from malt industries was less due to high moisture content in the new arrivals, which weighed on barley prices. On the NCDEX the most-active April contract of barley was down 0.5%.

Japan to import 600 tonnes barley via tender.
Ram Gopal Yadav (9 years ago)

Japan would import 600 tonnes of barley for livestock use, via a simultaneous buy and sell (SBS) auction. The ministry had sought 200,000 tonnes of feed barley to be loaded by June 30 and arrive in Japan by Aug. 31 in the tender.

Mexico offers zero tariff for rice import.
Ram Gopal Yadav (9 years ago)

Thailand is expected to export 10,000 tonnes of long-grain white rice to Mexico soon after receiving a free import tariff quota from the Mexican govt. Mexico recently allowed zero tariff for 150,000 tonnes of imported long-grain white rice from March 2 to Dec 31 this year, as its government seeks to lower the country’s food costs and meet higher demand. Apart from Thailand, the Mexico has also granted the zero tariff for long-grain white rice to Argentina, India, Italy, Uruguay, Vietnam and the US. The country’s import tariff for rice is normally set at 20%. Mexican government has set a maximum 10,000 tonnes per company to get free import tariff.

Rice basmati up on rising demand in New Delhi.
Ram Gopal Yadav (9 years ago)

Rice basmati prices firmed up in the wholesale grains market due to pick up in demand. Bajra and maize also traded higher on increased offtake by consuming industries. HIgh demand from retailers against restricted supplies from producing regions mainly led to the rise in rice basmati prices.

NCDEX coriander hits 1week high as output seen down.
Ram Gopal Yadav (9 years ago)

Futures contracts of coriander on the NCDEX extended gains and hit a one week high in anticipation of a decline in output in 2016-17 (Oct-Sep). The most-active April contract traded on the NCDEX up 1.1%.Coriander estimated output at 320,000 tonnes down 20% from 400,000 tonnes of previous year. Arrivals of coriander in Kota were pegged at 15,000 bags (1bag=40kg) up 5,000 bags.

Recent rains in north India boost hopes of record wheat production.
Ram Gopal Yadav (9 years ago)

Recent rains in north India are likely to benefit the wheat crop and improve its yield in most regions, while hail in isolated places in the North may hit the output of Chana and mustard. Rainfall is really good for the crop because after rainfall, temperatures have gone down which are very helpful for standing wheat crop and low temperatures are helping the grain-filling. Rains would benefit the late-sown wheat crop and improve the quality of the grain.