Japan’s Ministry of Agriculture is seeking to buy 57,914 tonnes of food-quality wheat from the United States in a regular tender.
Chana futures gain 3.68% on rising demand.
Chana futures gain 3.68% on rising demand. Chana prices rose 3.68 per cent to Rs 4,169 per quintal in futures trade as participants created fresh positions, driven by rising demand from dal mills in the spot market. Besides, tight stocks positions following drop in arrivals from producing regions, too, fuelled the uptrend. The rise in chana prices to surging demand in the spot markets against restricted supplies from the producing regions.
Chana is trading at Rs 3,932 per quintal at the benchmark Bikaner market.
Chana is trading at Rs 3,932 per quintal at the benchmark Bikaner market. In the coming days, prices are expected to head towards Rs 3,950-4,000 per quintal. Low availability in free market coupled with strong demand from processors would continue to drive prices higher in the near term.
Lentils production in Australia too is bound to decline
Lentils production in Australia too is bound to decline from 8.3 to 4.19 lakh tonne in 2017-18. It is almost 50 % down from last year. Lentils area was reported higher by 16 % at 3.55 lakh ha. Due to rough weather condition Lentils production, would decline to 4.19 lakh tonne. Field peas production too, is bound to decline by 32.47 % to 2.8 lakh tonne in 2017-18. Australia had produced 4.15 lakh tonne field peas in 2016-17.
Canada lentil area is said to be lower
Canada lentil area is said to be lower than intended by one million acres to 3.77 MMT.Agri experts expected it to be 4.05 million acres. Actually, at the time of sowing prices remained subdued and it impacted farmers to reduce area from 4.05 to 3.37 million ha. Canada had planted 4.4million acres in 2018.Under current prevailing condition production would be only slip from last year’s 2.559 million metric ton (MT) harvest to 2.495 million this year.
Inidan farmers across the country sowed paddy across 11.68 mln ha
Inidan farmers across the country sowed paddy across 11.68 mln ha this kharif season, down 8% on year. The area under paddy was also below the normal average area of 13.02 mln ha for the period. However, after a delayed start, the sowing of paddy picked up pace last week, with rainfall increasing over the country. Paddy acreage is up 73.53% from the previous week. Uttar Pradesh, which is the largest grower of paddy in the country, has recorded a fall of 11.7% on year in paddy area to 1.73 mln ha due to below-normal rains.
Vietnam wins contract to export rice to Korea.
A Vietnamese company has won a bid to export 60,000 tonnes of Japonica brown rice to the Republic of Korea (RoK), defeating competition from rivals of China, Thailand and Australia. The deadline for delivery of 60,000 tons to South Korea’s port is September 15.
PHL rice production seen reaching 12.9 MMT in 2018.
The country’s rice output this year could rise by 1.6 percent to a record high of nearly 13 million metric tons (MMT) on the back of favorable weather conditions and high farm-gate prices. Asia is expected to drive the global production expansion of 2018, harvesting a record 461.9 million tons, up 1.2 percent from 2017. Despite the record-high harvest, Manila’s rice imports this year would expand by half to 1.5 MMT, from 1 MMT a year ago, as the government seeks to beef up the National Food Authority’s (NFA) depleting stockpile and keep retail prices of the staple within affordable level.
India Wheat price shoots up after increase in import duty.
Wheat prices have shot up within two months after rise in the import duty. The Centre had raised the import duty by 10 per cent to curb imports of wheat in May this year and the wholesale prices have gone up by up to 10 per cent in last couple of weeks. Wheat, which was selling at Rs 1,750 per quintal, has crossed Rs 1,900 per quintal mark and traders claimed that it is expected to rise further. Rise in import duty could be one reason. Southern states generally procure wheat from other countries. However, this time they have not procured from outside. Increase in import duty is the reason they placed orders with the northern states. The open sell price of wheat has also been fixed at higher rate of Rs 1,900 and more for upcoming quarters.Retail prices have also gone up accordingly in Delhi.
Govt offer 10 million tons wheat in open market sale plan FY19.
1st e-auction for sale of wheat and rice for the year 2018-19 shall be conducted on 19 July 2018 and the notice for the same shall be published on 16 July 2018. For Madhya Pradesh, Punjab and Haryana, reserve price for wheat for second, third and fourth quarter of FY 2018-19 will be taken as Rs. 190/-, Rs. 1925/- and Rs. 1950/- per quintal respectively. For Other States, railway freight, ex-Ludhiana to the nearest railhead and road transportation cost from railhead to depot, where sale is undertaken, will be added in the above reserve price. This reserve price includes loading and handling charges for all types of sales including dedicated movement. Quantum for sale of wheat has been fixed as 10 million tons, however it may be reviewed by the department of Food and Public Distribution (DFPD). if offtake is more.
Govt offer 20 lakh tons rice in open market sale plan FY19
Sale of rice reserve price of rice will be taken as s. 2500/- per quintal for auction up to 30th sept. 2018. From 1st October 2018, it will be taken as Rs. 2500/- per quintal or MSP derived price, whichever is higher. Quantum of 20 LMT of Grade ‘A’ rice has been kept for sale under OMSS during 2018-19.
India govt Jul 1 wheat stocks at 5-year high of 41.8 mln tn.
Wheat inventory in the government’s central pool has touched a five-year high of 41.8 mln tn as of Jul 1. Higher inventories this year are mainly because of increased procurement in the country. Government’s wheat procurement for the current year started April was 35.5 mln tn, 15.8% higher on year till Jun 25.
Wheat exports from Russia up 41%.
In July-May 2017/18, wheat exports from Russia totaled roughly 38 MMT. This is already 41% more than in the whole of MY 2016/17, when some 27 MMT was shipped abroad. Russia exported 3.9 MMT of wheat in May 2018 that is 19.3% more than in the previous month and up 103% from May 2017. Vietnam imported 1.96 MMT of wheat in July-May 2017/18.
Egypt once again preferred Russian wheat in a tender.
On July 10, Egypt purchased 175 KMT of milling wheat from Russia to be delivered on August 21 – 31, 2018 at an average price of USD 220.27/MT C&F. The price in the previous tender equaled USD 217.50/MT C&F.
India govt Jul 1 rice stocks at 5-yr high of 23.3 mln tn
The government had 23.3 mln tn rice in its stock as of Jul 1, the highest since 2013, when the inventory was 31.5 mln tn.
The Philippines rice inventories decline.
Based on the latest data provided by Philippine Statistics Authority (PSA), the total rice stock inventory of the country was estimated at 2.36 million MT as of 01 June 2018. This was a drop of 8.24 percent from previous year’s level of 2.57 million MT and 18.85 percent below the previous month’s stocks level of 2.9 million MT.
Philippine food agency to propose extra 500,000 t of rice imports.
The Philippines’ food security agency seek approval to import an extra 500,000 tonnes of rice this year to ensure healthy supply and stable prices in the local market. The cargoes should arrive in the country in December.
Coriander up in Ramganj on low supply of new crop.
Prices of coriander rose in the key market of Ramganj, Rajasthan, due to limited supply of good quality new crop harvested this year on the back of lower production. In Kota, the badami variety was sold at 5,200 rupees per 100 kg and the eagle variety was quoted at 5,500 rupees, both up 50-100 rupees from previous close. Coriander futures may continue to rise for the fifth consecutive week and move towards 4,900 rupees per 100 kg due to a decline in arrivals. The most active August contract of coriander on NCDEX was up 0.6%.
Indore soybean up on improved demand from millers
Prices of soybean rose in Indore owing to improved demand from oil millers and crushers. Indore market, soybean was selling at 3,575-3,625 rupees per 100 kg, up 25-30 rupees. A fall in arrivals amid higher demand from stockists also supported prices.
China cuts soybean import forecast for next crop year as trade war to curb demand
Imports of soybeans in the crop year that starts on Oct. 1 will be 93.85 million tonnes, down 1.8 million tonnes, or 2 percent, from last month’s estimate. Compares with its estimate of 95.97 million for the 2017/18 crop year and would be the lowest import level since the 2016/17 year. Meanwhile, crushers that make meal and oil from the beans will process fewer beans in favour of other protein substitutes. Meal made from rapeseed, peanuts and sunflower seeds are expected to be popular alternatives. The government also cut its soybean consumption forecast by 2 percent from the previous month’s outlook to 109.23 million tonnes. That would still be 1 percent higher than consumption in the 2017/18 crop year.