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.
Wheat prices edge up on demand from flour mills
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.
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.
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.
FCI sold 115,200 tn of wheat in 8th open mkt sale FY19.
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). The state-run agency had offered 1.8 mln tn of the grain at the auction.
High arrivals, demand keep coriander steady in Kota.
High arrivals, demand keep coriander steady in Kota.
Dec 18 CBOT Wheat closed at $5.18 3/4, down 9 1/2 cents.
Wheat futures saw Turnaround losses of 8 to 9 1/2 cents in the CBT and KC contracts, with MPLS down 4 to 6 cents. September showed thin trade. Crop Progress report indicated that 93% of the US spring wheat crop was harvested as of Sunday, 8% faster than the average. The winter wheat crop was shown at 5% planted, even with the normal pace and last year. Ahead of the monthly USDA report, projecting the USDA will trim new crop world ending stocks for wheat by 1.37 MMT to 257.58 MMT. The French wheat crop is estimated at 34.55 MMT, down 5.5 MMT from their August number.
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.