Coriander prices fell in Kota, Rajasthan due to continued imports at lower prices and subdued local demand. Coriander imports from Russia and Bulgaria are 6-9 rupees per kg cheaper than the local crop even after paying an import duty of 36.5%.
China may open doors to Indian non-basmati rice.
China may open doors to Indian non-basmati rice.
GAPKI says Indonesia’s palm oil exports down 4% YoY in Jan-Apr
Indonesia’s palm oil exports including biodiesel, oleofood and olechemicals, fell 4% on year to 10.24 mln tn in Jan-Apr as demand from major buying countries declined. In April, the country’s palm oil exports totalled 2.40 mln tn, 5% lower than 2.53 mln tn in the previous month. The drop in palm oil exports was due mainly to the decline in demand from major importing nations such as India, China, the EU and the US, even though demand increased from Bangladesh, West Asian countries and Pakistan. In April, crude palm oil prices averaged at $662.2 per tn, lower than $676.2 per tn in March.
Genetic Modified golden rice gets approval from food regulators in the US.
Genetic Modified golden rice gets approval from food regulators in the US.
NAFED may ask mills to crush 400,000 tn groundnut, offer oil in PDS
The National Agricultural Cooperative Marketing Federation of India is planning to divert 400,000 tn of groundnut seeds, procured under the price support scheme in Gujarat, to millers so that the resultant edible oil could be distributed under state-run welfare schemes. NAFED procured over record 800,000 tn of groundnut alone in Gujarat. Of which half would be diverted to crushers so that the oil could be provided to the beneficiaries of welfare schemes like public distribution system and mid-day meal. Rest groundnut seed would be sold in open market to the traders.
Qatar to facilitate Pakistan rice exports.
Qatar to facilitate Pakistan rice exports.
Russian soybeans will trade on the Moscow Exchange
The Moscow Exchange started trading soybeans on May 23. It plans to trade the commodity in deliverable forward contracts and swap contracts, with at least a three-day delay in settlement of transactions. At the initial stage, exchange trades will be held on a delivery basis of LLC Bureyskoye Grain Plant, which is the first accredited basis all over the Far East. It is planned to expand the geography of trade in the future through involving accredited delivery bases in other regions.
Asia rice-India prices up as buyers cash in on recent dip; Bangladesh to axe deal.
Asia rice-India prices up as buyers cash in on recent dip; Bangladesh to axe deal.
Argentina imports of soybean to double, stocks to fall 40%
Argentina’s imports of soybeans are expected to reach 4 million mt this crop year, double the previous volume.
NCDEX soy down as area may rise, monsoon progress good
Soybean contracts on NCDEX fell on expectation that farmers may sow more of the oilseed this kharif season lured by better returns and government procurement. The most-active June contract was down 1.1%. Meanwhile, the crucial southwest monsoon current has advanced into interior parts of Karnataka and will advance further into other states, boosting sowing prospects.
NCDEX maize down more on high supply, weak demand om 31 May.
NCDEX maize down more on high supply, weak demand om 31 May.
Uttar Pradesh govt looking to boost production of millets, maize.
Uttar Pradesh govt looking to boost production of millets, maize.
U.S. corn condition second highest on record.
U.S. corn condition second highest on record.
East Africa maize prices fall after bountiful harvest.
East Africa maize prices fall after bountiful harvest.
India wheat futures shed 0.44% on ample stocks.
India wheat futures shed 0.44% on ample stocks.
U.S. wheat extends losses, lingers near one-week low.
U.S. wheat extends losses, lingers near one-week low.
Traders dumping maize from Uganda for quick, handsome profits.
Traders dumping maize from Uganda for quick, handsome profits.
Spot wheat prices rise in Kota, unchanged in Indore.
Spot wheat prices rise in Kota, unchanged in Indore.
Philippine govt issues rules for importation of 805,000 MT of rice under MAV.
Philippine govt issues rules for importation of 805,000 MT of rice under MAV.
NCDEX coriander down for 10th day as imports continue
Futures contracts of coriander fell for the 10th consecutive day on NCDEX and hit an over seven-month low of 4,362 rupees per 100 kg due to higher imports from Ukraine and Russia, and muted domestic demand. The most-active June contract was down 3.5%. Instead of buying Indian coriander, exporters are importing it from Ukraine and after processing, they are re-exporting it. Bulgaria is also offering their new crop that was harvested in April at very low prices when compared to India.