Prices of barley rose in Jaipur due to improved demand from poultry feed sector amid negligible supply. In Jaipur, the benchmark market, the coarse grain was sold for 1,610 rupees per 100 kg, up 10 rupees. Barely two-three bags (1 bag = 85 kg) have been arriving in markets due to low stocks with farmers, and the new crop will only be available from March. However, sluggish demand from malt manufacturers, the key consumers, capped sharp gains in prices.
Chana prices dn in Delhi on subdued dal millers buys
Prices of chana fell in Delhi due to subdued demand from dal millers. In Delhi, the benchmark market, prices of chana were down by 50 rupees. However, arrivals of chana declined. Prices of chana are likely to increase in the coming days owing to sluggish sales of government-procured stocks.
Govt ups ’18-19 foodgrain output target to 285.2 mln tn vs 283.7 mln
The government has also revised upwards its production targets for pulses in 2018-19 to 25 mln tn from 24 mln tn seen earlier.
Maharashtra Markfed to sell 30,286 tn tur
Maharashtra State Co-operative Marketing Federation has offered to sell 30,286 tn of tur through NCDEX e-Markets. The tur to be auctioned is stocked at godowns of Maharashtra State Warehousing Corp.
Kharif tur area up nearly 1% at 4.57 mln ha
Area under tur was up nearly 1% at 4.57 mln ha because acreage in Karnataka, one of the key producing states, rose on the back of good monsoon. Good rains in north Karnataka led to higher acreage, said Vishwanath Biradar. Though acreage in another key producer Madhya Pradesh is down on year, it is higher than the season’s normal acreage based on five-year average.
Urad acreage down 8.8% on year at 4 mln ha
Farmers in the country have sown urad across 4.02 mln ha this kharif season, down 8.8% on year. Urad acreage during this kharif reason is already well above the five-year average of 3.12 mln ha for the corresponding week. In Madhya Pradesh, the largest grower of urad, acreage was down 7.7% on year at 1.65 mln ha as farmers shifted to paddy and soybean for lucrative returns.
Moong acreage up 7.5% on year at 3.4 mln ha.
Moong acreage across the country rose 7.5% on year to 3.43 mln ha, largely due to a rise in area under the crop in Rajasthan and Karnataka. In Rajasthan, the largest grower, area under the crop jumped 22.5% on year to 1.92 mln ha. The government’s effort to boost pulses production and an increase in minium support prices has pushed moong acreage higher. The Centre has raised the minimum support price for moong for 2018-19 by a steep 50%. Rajasthan’s moong crop is in good condition and no major pest attack or disease has been reported so far.
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 interest in buying soyabean from Maharashtra to benefit farmers.
China’s interest in buying soyabean from Maharashtra to benefit farmers.
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.
Urad acreage down 12.5% on yr at 3.8 mln ha
Farmers in the country have sown urad across 3.80 mln ha this kharif season, down 12.5% on year. In Madhya Pradesh, the largest grower of urad, acreage was down 16.7% on year at 1.49 mln ha as farmers shifted to paddy and soybean in search for lucrative returns. For 2018-19 (Jul-Jun), the government has increased the minimum support price for paddy by up to 13% and for urad by 3.7%. Last year, many farmers opted for urad instead of soybean due to scattered rains and low realisations from the latter, which resulted in a jump in urad acreage. The country produced 2.84 mln tn of urad during the last kharif season.
Soybean futures posted losses of 13 to 14 cents in the front months
Soybean futures posted losses of 13 to 14 cents in the front months
Moong acreage up 7.3% on year at 3.4 mln ha.
Area under moong crop across the country was at 3.40 mln ha, up 7.3% on year, largely due to a rise in acreage in Rajasthan and Karnataka. In Rajasthan, the largest grower, area under the crop jumped 22.5% on year to 1.92 mln ha. The rise in overall acreage this year is due to the steep hike of 50% in the minimum support price for moong for 2018-19. In Karnataka, the area under moong cultivation rose 16.2% on year to 423,000 ha.
Govt expects rice procurement to touch 38 mln tn 2018-19.
Govt expects rice procurement to touch 38 mln tn 2018-19.
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.
Down in Maharashtra on weak demand, steady in N India.
Down in Maharashtra on weak demand, steady in N India.
India Spot wheat prices up in Indore, Kota.
Prices of wheat increased around 25 rupees per 100 kg in the key wholesale market of Indore in Madhya Pradesh due to good demand from flour mills and bakery product manufacturers. Wholesale price of mill quality wheat in Indore was at 2,025 rupees per 100 kg. In Kota market, price of the food grain was at 1,900-1,925 rupees per 100 kg, up 10-15 rupees from the previous session. Food Corp of India sold 115,200 tn of wheat in the eighth round of auctions under the open market sales scheme for 2018-19 (Apr-Mar).
Cane acreage up 4.2% on year at 5.19 mln ha.
Cane acreage up 4.2% on year at 5.19 mln ha.