Wheat prices steady in Delhi.
Ram Gopal Yadav (8 years ago)

Prices of wheat in the key wholesale market of Delhi and Indore remained steady as there was adequate supply to meet the demand from flour mills. Wholesale price of mill quality wheat in Delhi and Indore was at 2,000 rupees per 100 kg. Subdued arrivals of the food grain from key producing states due to a lean season is seen supporting price of wheat in the coming days. Demand from bulk buyers is seen improving this month as the base rate for wheat auction under open market sale scheme will be higher in October at 1,925 rupees per 100 kg, against 1,900 rupees till September-end.

India maize prices gain on improved demand
Ram Gopal Yadav (8 years ago)

Wholesale price of good quality maize in Bihar’s Purnea, a key market, rose 5-10 rupees 1,320 rupees per 100 kg. Good demand from starch and poultry industry along with less availability of good-quality crop in the wholesale markets supported prices. Stocks of good quality maize in Bihar the largest producer of maize in the rabi season are dwindling, because most was exported to Bangladesh in Apr-May.

Wheat prices are likely to be confined to a narrow range
Ram Gopal Yadav (8 years ago)

Wheat prices are likely to be confined to a narrow range in the coming days as the government has huge inventory of the food grain in its central pool. The government had 40.9 mln tn of wheat inventory in its central pool as on Aug 1, higher from 30.1 mln tn on the same day last year. The government has also raised its estimate for wheat output in 2017-18 (Jul-Jun) to a record high 99.70 mln tn from 98.61 mln tn earlier.

Barley up in Jaipur on demand from poultry sector
Ram Gopal Yadav (8 years ago)

Despite concerns over quality, barley prices were up in Jaipur because of strong demand from poultry feed sector. In Jaipur, the benchmark market, the coarse grain was sold at 1,570 rupees per 100 kg, up 10 rupees. Very low supplies in the market and demand from stockists also supported the grain. Prices are likely to rise further as stocks held by farmers are nearly over and new crop arrivals are likely to commence only from March. Arrivals were estimated at 1-2 bags (1 bag = 85 kg), compared with 2-3 bags.

Moong acreage up 6.5% on year at 3.4 mln ha.
Ram Gopal Yadav (8 years ago)

Area under moong crop across the country was at 3.37 mln ha, up 6.5% on year, largely due to a rise in acreage in Rajasthan and Karnataka. In Rajasthan, the largest grower, area under the crop jumped 22.0% on year to 1.91 mln ha. The rise in overall acreage this year is also 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.

Urad acreage down 13% on year at 3.76 mln ha.
Ram Gopal Yadav (8 years ago)

Farmers in the country have sown urad across 3.76 mln ha this kharif season down 12.8% 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.

Kharif tur area unchanged on yr at 4.45 mln ha.
Ram Gopal Yadav (8 years ago)

India’s tur acreage was at 4.45 mln ha, largely unchanged from the previous year. Acreage under tur in Karnataka, the second largest producer of the pulse, was up 12.3% on year at 984,000 ha. During Jun 1-Sep 2, Karnataka received 693.6 mm rainfall, 2% above the normal weighted average of 683.0 mm. In Maharashtra, the area under tur was down 4.5% on year to 1.2 mln ha.

India Wheat tad up on NCDEX, most spot markets shut.
Ram Gopal Yadav (8 years ago)

Wheat futures on NCDEX also edged higher amid absence of cues from key spot markets that were shut on account of Janmashtami. On NCDEX, the September-delivery wheat futures closed at 2,016 rupees per 100 kg, up 12 rupees. Wheat prices are likely to be confined to a narrow range in the coming days as the government has huge inventory of the food grain in its central pool. The government has also raised its estimate for wheat output in 2017-18 to a record high 99.70 mln tn from 98.61 mln tn earlier.

EU wheat rises on tight supply concerns.
Ram Gopal Yadav (8 years ago)

European wheat rose on concerns about availability on the world market with lower than expected supplies in the European Union and Canada and uncertainty on export policies in the Black Sea region. Benchmark December milling wheat on Paris-based Euronext, settled up 1.9 percent at 205.50 euros a tonne. European wheat gained 2.75 euros this week and 1.25 euros over the whole month of August which was marked by volatility with prices moving in a 198.00 to 219.25 euro a tonne range. The low euro against the dollar which remains below the $1.17 resistance is also supportive for European wheat, making it more competitive on the world markets.