Barley prices in Jaipur at 1-week low on high supply.
Ram Gopal Yadav (9 years ago)

Barley prices in Jaipur hit a one-week low as arrivals of the new crop increased and demand from stockists and the feed industry was lacklustre. Arrivals of the new crop estimated at 7,000 bags (1bag=85kg) compared with 5,000 bags. Limited purchases from the malt industry also weighed on prices.

NCDEX coriander up on bargain buying, low arrivals.
Ram Gopal Yadav (9 years ago)

Futures contracts of coriander on the NCDEX rise as investors bought the commodity after prices hit a one-week low. Coriander futures also gained because arrivals in Rajasthan spot markets almost halved to 25,000 bags (1bag=40 kg) compared with 47,000 bags. Most active April contract of coriander on the NCDEX was up 0.4% from the previous close.

Wheat open market tender average price falls in Delhi.
Ram Gopal Yadav (9 years ago)

Under govt’s last open market sale for 2016-17 (April-March), the average price of wheat in Delhi fell in this week’s tender in which govt sold around 16,000 tonne of wheat in Delhi. Average price of the food grain fell because of anticipation that demand might shift to the new crop, which is expected to start arriving in Delhi next month. Arrivals of the new crop have already started in some parts of Madhya Pradesh and are likely to peak across the country in the beginning of April. Total quantity of wheat offered by the govt through open market sales in the country in March was at 85,600 tonne, while the actual sale was of 74,350 tonne. Wheat stocks in the govt’s central pool at a multi-year low of 11.55 million tonne as of Feb 1, 2017, compared to 20.34 million tonne a year ago.

Wheat prices fall in spot, futures as supplies increase.
Ram Gopal Yadav (9 years ago)

Prices of wheat fell in both spot and futures markets as supplies across the country are rising and demand from bulk buyers is weak. In Indore, new crop arrivals had started last month, supplies are rising each day and prices are getting lower. About 8,000-10,000 bags (1bag=100kg) of wheat arrived in Indore, up from 7,000-8,000 bags. To support falling prices, Madhya Pradesh govt will start procuring wheat from farmers at a MSP from March15.

Delhi wheat prices unchanged due to high demand, supply
Ram Gopal Yadav (9 years ago)

Wholesale prices of wheat in the key market of Delhi were largely unchanged as both demand from millers and supply from the govt. were high. Govt sold around 16,000 tonne wheat in Delhi under the Open Market Sale Scheme. Govt will conduct the last open market sale of 2016-17 (April-March) on March9 as the procurement season starts in Madhya Pradesh and Rajasthan by mid-March.

Egypt raises supply price of wheat for the 2017 crop season.
Ram Gopal Yadav (9 years ago)

Egypt raised the supply price of wheat it will buy from farmers from mid-April to mid-July depending on the quality of the crop. Second time the country has increased the supply price for wheat in the past five months. Wheat harvest season starts in May. In November 2016, immediately after the country floated its currency and cabinet increased the prices of purchasing wheat from farmers to support local producers.

NCDEX barley down tracking weakness in spot market.
Ram Gopal Yadav (9 years ago)

Futures contracts of barley fell on the NCDEX tracking key spot markets in Jaipur. Prices of barley fell in Jaipur because of increased arrivals amid lacklustre demand from stockists and feed sector. Arrivals of the new crop were pegged at 5,000 bags (1bag=85kg) compared with 4,000 bags.

Philippines estimates rice import requirement at 800,000 MT.
Ram Gopal Yadav (9 years ago)

National Food Authority (NFA) is looking to import around 800,000 metric tons (MT) of rice this year under a government-to-government arrangement to cover the lean months in the third quarter. Critical stock levels of the staple grain in government warehouses and inventory in government warehouses was 400,000 MT. Stocks have thus fallen below the buffer stock the agency is mandated to maintain. Some places will have very tight supply by April and May. By end of June, the NFA’s buffer stock will be short so there is approval of the 250,000 MT importation which need to utilize by June this year and the remaining standby volume to cover the gap in buffer stock requirement. Of this total, only 250,000 MT has been activated with the top exporting countries, Vietnam and Thailand, clinching the bid.