Wheat prices inched up by Rs 5 per quintal at the wholesale grains market due to increased offtake by flour mills. Besides increased offtake by flour mills, pause in arrivals from growing regions, helped wheat prices trade higher. In the national capital, wheat dara (for mills) edged up by Rs 5 to Rs 2,035-2,040 per quintal.
Saudi Arabia’s SAGO buys wheat 630,000 tonnes of wheat
Saudi Arabia’s main state grain buyer, the Saudi Grains Organization (SAGO) had bought 630,000 tonnes of wheat in an international tender. The wheat was purchased at an average price of $270.22 a tonne. Origins offered were the European Union, North America (excluding Canada), South America and Australia, with the seller having the option of selecting the origin supplied.
Kharif maize acreage up on year at 7.9 mln ha
Area under maize in India was 0.2% higher on year at 7.9 mln ha. Maize acreage in the country was higher than the normal area of 7.4 mln ha for the season, which is based on the average of last five years. Sowing was higher on year in key growing states of Karnataka, Madhya Pradesh, Rajasthan, Uttar Pradesh, and Telangana, while it was down in Maharashtra, Bihar, Jharkhand, and Haryana. Acreage was higher in states like Andhra Pradesh, Telangana, and Karnataka despite reports of armyworm pest attack in some pockets of these states. The India Meteorological Department had given timely advisories to maize growers in these states to curb the spread of pest attack.
Fall Armyworm attacks maize crop across Telangana
A fresh problem in the form of Fall Armyworm, or Spodoptera frugiperda, threatens farmers across the country this kharif season. Currently infesting the maize crop, agricultural scientists warn that this pest could soon spread and attack other crops, including cotton, sorghum, sugarcane, cabbage and soyabean. This pest, which reportedly entered India from Africa, could result in huge economic losses if not attended to in time. From Karnataka where it was reported first, it spread to Telangana and Andhra Pradesh. Telangana is among the hardest hit, with the Fall Armyworm extensively affecting the maize crop in 17 out of 30 districts.
Onion, potato & tomato output drops slightly in 2017-18
Production of onion, potato and tomato has fallen marginally in the 2017-18 crop year ended June 30. As per the ministry’s third advance estimate, onion output is likely to be around 22 million tonnes (MT) during the reported period, lower than 22.4 MT in 2016-17. Similarly, potato production is estimated to remain flat at 48.5 MT as against 48.6 MT in 2016-17, while tomato output is projected at 19.4 MT as against 20.7 MT earlier. However, the overall production of vegetables is estimated to be higher by one per cent to 179.7 MT over the previous year, the data showed. In case of fruits, the output is projected at 97 MT, higher by 4.5 per cent from the previous year.
Nafed to begin disposal of 13k tonne buffer onion stock
National Agriculture co-operative Marketing Federation of India (Nafed), which procured onions from Lasalgaon and other wholesale markets in the state over the past four months is now set to dispose nearly 13,000 tonnes of the buffer stock from its various storage facilities across Nashik district.
Govt source says pulses buffer stock 1.2-1.3 mln tn.
Currently, buffer stocks of pulses are at 1.2-1.3 mln tn and the government has no plan to increase it to the 2.0-mln-tn limit in coming months. Buffer was created around three years back to safeguard consumers from the brunt of sharp spike in prices due to shortage in physical markets. As currently markets are well-supplied due to record production in last couple of years and due to hopes of bumper output this year, the government has no immediate plan to build a buffer to its limit of 2 mln tn in near future. At 1 mln tn, tur accounts for the maximum share in the buffer stock.
USDA arm sees Myanmar 2018-19 pulses output down 14% at 3.8 mln tn
The US Department of Agriculture’s Foreign Agricultural Service sees Myanmar beans and pulses 2018-19 output down 14.2% on year at 3.8 mln tn. Output of the pulses in the country is estimated to decline as the Myanmar government has urged the farmers to reduce production of some pulses such as urad and tur and shift to other crops such as seed corn, soybeans, green gram, dry season rice and sesame. About 80-90% of the total tur production and 60-70% of urad is exported to India, and the domestic wholesale prices depends mostly on India’s demand. In March last year, India had imposed a 10% customs duty and in August imposed quantitative restriction of 200,000 tn on tur and 300,000 tn on urad and moong annually, to curb cheaper imports. The restrictive policy by the Indian government has led to a sharp drop in the exports of pulses from Myanmar.
China’s soymeal futures fall 3 pct at open after U.S. invites China to talks.
China’s soymeal futures fall 3 pct at open after U.S. invites China to talks.
EU becoming a more significant importer of Russian soybean meal.
EU becoming a more significant importer of Russian soybean meal.
China’s interest in buying soyabean from Maharashtra to benefit farmers.
China’s interest in buying soyabean from Maharashtra to benefit farmers.
Australia’s wheat output in 2018-19 season seen down 10% at 19.1 mil mt.
Australia was expected to produce 19.1 million mt of wheat in the 2018-19 (October-September) season, down 10% from 21.2 million mt in 2017/18. The decline in estimate is primarily attributed to reduced crop prospects from exceptionally unfavourable seasonal conditions in Queensland, New South Wales and parts of Victoria and South Australia. In New South Wales, the well below average rainfall during the planting window resulted in much less area planted to winter crops than was initially intended. As a result, wheat production is forecast to fall by 44% to 2.5 million mt in 2018-19.In Queensland, the dry conditions and low levels of soil moisture reduced potential yields with wheat production forecasted to be around 525,000 mt, down 23% from the previous harvest. South Australian wheat production is forecasted to fall by 10% to 3.7 million mt due to 13% decline in average yield. Timely rainfall in early spring will be critical to ongoing crop development in many cropping regions in eastern states (including South Australia) because of low levels of soil moisture.
Bulgaria Expects Wheat Crop of 5.4 Million Tonnes.
The expected wheat production this year is 5.4 million tonnes. There is enough bread wheat despite concerns. The industry has similar data – an average yield of about 4,600 kg/ha. Its quality is different – it is high in areas with no rainfall during the harvest, but in the rest pre-harvest sprouting is observed. Wheat prices are about 25% higher this year. On average, bread wheat is traded at BGN 354 a tonne compared to BGN 270 a tonne in 2017, while feed wheat is sold on average for BGN 318 a tonne compared to BGN 254 last year.
JAPAN TO RAISE IMPORTED WHEAT PRICES TO MILLERS BY 2.2 PCT.
Japan will sell imported wheat to domestic millers at an average price of 55,560 yen ($498) per tonne in October to March, up 2.2 percent from the previous six-month period. The move reflects higher wheat prices in its main suppliers and higher shipping rates due to oil prices.
India Spot maize a tad lower.
Prices of maize in Purnea, a key market in Bihar, eased by around 4 rupees from previous close to 1,321 rupees per 100 kg amid steady arrivals of around 2,000 tn. Spot price of the coarse grain eased after rising in the last few sessions on the back of good demand from poultry and starch sector. Expectation of higher maize production in Karnataka, a key growing state, weighed on prices. Karnataka has pegged its maize output for 2018-19 (Jul-Jun) at 3.53 mln tn, up 26% on year.
Barley prices rise in Jaipur as supply weak.
Prices of barley were up in Jaipur due to weak supplies and higher demand from domestic stockists and poultry feed sector. In Jaipur, the benchmark market, the coarse grain was sold at 1,590 rupees per 100 kg, up 10 rupees. Supplies are negligible as stocks held by farmers are almost over and new crop arrivals are likely to commence only from March.
Onion exports rise by 15% as global prices turn competitive for traders.
Onion exporters see shipments increasing by about 15per cent from a year ago with prices turning competitive in the international market on the back of a government incentive scheme and potential of good domestic production. After the government extended the Merchandise Export from India Scheme (MEIS) to onion growers, the freight-on-board (FOB) price of the Indian variety declined to $195/tonne (from $220 per tonne earlier), giving competition to the produce from China, where a good crop is seeing producers take advantage of high prices in neighbouring nations. The average price in the wholesale markets of Maharashtra is now around Rupee10/kg.
Export curbs Tomato prices crash in Maharashtra.
The suspension of trade via roads between Pakistan and India and the consequent supply glut has sent local tomato prices crashing. Wholesale prices have crashed to some Rs 2-3/kg at Pimpalgaon Baswant and Lasalgaon. Even top quality tomatoes are now being sold at just Rs 6-7 per kg. In Nashik district, the prices crashed to a third in just over a week. Pakistan used to import nearly 50,000 tonnes of tomatoes from India annually and Bangladesh up to 35000 tonnes. While political tension between India and Pakistan led to the suspension of exports via land to Pakistan, exports to Bangladesh are hit after Dhaka increased the import duty on agricultural produces to 48%.
The Cabinet is set to approve 25% increase in the price for ethanol
The Cabinet is set to approve 25% increase in the price for ethanol
NCDEX soybean settles 1% higher on cues from CBOT.
NCDEX soybean settles 1% higher on cues from CBOT.