Rise in chana contract lifts NCDEX Dhaanya index.
Ram Gopal Yadav (6 years ago)

The NCDEX Dhaanya index rose 9.82 points to 3205.08 points, largely due to gains in chana and castor seed contracts. A fall in guar seed contracts restricted the rise in index. Dhaanya is a value-weighted index, computed real-time using the near-month prices of 10 most liquid commodity futures. The components of the index and their weights are re-balanced every quarter. Currently, chana and guar seed carry a weight of 20% each, soybean 16%, and mustard seed 15%, and cottonseed oilcake 8%. Castor seed, coriander, barley, jeera, and turmeric are the other components of the index.

Maharashtra extends registration date for urad, moong procurement.
Ram Gopal Yadav (6 years ago)

The Maharashtra government has extended the registration date for procurement of urad and moong under the minimum support price to Oct 24 from Oct 9. Procurement of moong and urad will commence from Oct 11. Output of kharif moong in the country in 2018-19 (Jul-Jun) is estimated at 1.58 mln tn, while urad production is expected to be 2.65 mln tn. As of now, a total of 20,341 farmers have registered themselves for the procurement, of which 6,183 have registered for moong procurement, 8,851 for urad.

Pulses import at Tuticorin port down 66% on year at 13,598 tn in Sept.
Ram Gopal Yadav (6 years ago)

Import of pulses at Tuticorin port was down 66.6% on year at 13,598.7 tn in September. A sharp decline in imports of chana, peas and tur led to the fall. Imports of most pulses have fallen since the beginning of the year, following trade restrictions and a rise in customs duty. For May, the last month for which data is available, imports of pulses were pegged at 18,962.30 tn.

USDA Maintains Indian Corn Production At 26 MT, Exports To Surge.
Ram Gopal Yadav (6 years ago)

The latest report of United States Department of Agriculture (USDA) stated that despite the slightly higher-than-anticipated planting of kharif corn, MY 2018/19 forecast for corn production is unchanged at 26 MMT due to expected lower yield, compared to last year due to patchy monsoon in western India, and reports Fall Army Worm (FAW; Spodoptera frugiperda) in corn producing states in southern India. The governments provisional planting report for the period ending September 20, 2018, estimates the kharif corn planted area at 7.92 million hectares compared to 7.93 million hectares during the corresponding period last year, but higher than the five-year historical average of 7.89 million hectares. However, deficient rains during July delayed planting of corn in most of the growing states, while prolonged dry spells during critical crop growth and reproductive stages of the crop in some parts of Karnataka, Maharashtra, and Gujarat are likely to affect yield prospect. MY 2017/18 corn exports are estimated marginally higher at 900,000 MT based on the latest available official export figures. According to available trade estimates from the Global Trade Atlas, MY 2017/18 corn exports through June 2018 are estimated at 742,000 MT compared to 389,000 MT during the corresponding period last year, mostly to neighboring Nepal and Bangladesh, with small quantities going to south Asia. Market sources report that exports during July 2018 were steady around 100,000 MT. With exports likely to taper down in the last quarter on rising domestic prices, MY 2017/18 exports are likely to reach 900,000 MT

India NCDEX maize futures end lower on profit booking.
Ram Gopal Yadav (6 years ago)

Futures contracts of maize on the NCDEX ended lower due to profit booking after rising in the last two sessions. On the NCDEX, October delivery maize contract ended 6 rupees lower at 1,388 rupees per 100 kg. Bulk demand from starch and poultry industry has reduced in spot markets due to less availability of good quality stocks. Fresh crop arrival has commenced in some parts of Karnataka, a leading grower of the coarse grain in the kharif season, but the moisture content is too high at present. The new crop has moisture content of 28-30%, while the desirable level is only 14-15%. Both the quantity and quality of the fresh crop arrivals are expected to improve from the next month, when harvest peaks.

Madhya Pradesh to give subsidy of 750 rupees/100 kg on wheat seed.
Ram Gopal Yadav (6 years ago)

Madhya Pradesh government will provide 750 rupees per 100 kg subsidy to farmers on purchase of certified wheat seed for sowing in 2018-19 (Jul-Jun) rabi season. Farmers may buy certified wheat seeds from cooperative societies mostly under Rashtriya Krishi Vikas Yojana and in some districts it is also given under the National Food Security Mission. Wheat grown in the state have high level of protein content than grown in Uttar Pradesh, Punjab and Haryana, among the major growers.