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.
India soybean area up 6% on year at 11 mln ha.
India soybean area up 6% on year at 11 mln ha.
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.
Soybean futures drop 0.22% on weak global cues.
Soybean futures drop 0.22% on weak global cues.
India’s Oilmeal Exports Jump 21% In Last Five Months.
India’s Oilmeal Exports Jump 21% In Last Five Months.
Iran issues tender to buy 30,000 tonnes rice from India
Iran issues tender to buy 30,000 tonnes rice from India
Coriander futures fall on subdued demand.
Coriander futures fall on subdued demand.
Mustard seed prices up in Jaipur on robust demand.
Mustard seed prices up in Jaipur on robust demand.
NCDEX Sep mustard near 3-wk high tracking spot mkt.
NCDEX Sep mustard near 3-wk high tracking spot mkt.
Govt may declare 100-bln-rupee scheme for oilseed farmers.
Govt may declare 100-bln-rupee scheme for oilseed farmers.
Prices steady in key spot markets amid thin trade.
Prices steady in key spot markets amid thin trade.
