Rice basmati declines on tepid demand.

Ram Gopal Yadav (8 years ago)

Rice basmati prices dipped by rupees 100 per quintal at the wholesale grains market owing to slackened demand. Muted demand from retailers against ample stocks position led to decline in rice basmati prices. In the national capital, rice basmati Pusa-1121 variety fell by rupees 100 per quintal.

Cotton area seen up 10% in 2017-18 but harvest hinges on rain.

Ram Gopal Yadav (8 years ago)

Cotton farming in the country is seen gaining ground next season as favorable prices this year have again stirred the interest of farmers in the fiber crop. The acreage under cotton is likely to increase 10% to more than 11 million ha in the season starting Oct 1, but corresponding production estimates depend largely on how the monsoon pans out. In the current season, the acreage under cotton had fallen 12% to 10.5 million ha on fears of pink bollworm infestation and whitefly attack, which had damaged a large quantity of the crop in 2015. Record high prices of many pulses in the previous year had also prompted the shift away from cotton. Cotton output rose marginally to 34.05 million bales (1bale=170kg) from 33.8 million bales due to a sharp rise in yields across states owing to conducive weather conditions.

NCDEX coriander up on short covering, low crop view.

Ram Gopal Yadav (8 years ago)

Futures contracts of coriander on NCDEX rose as investors covered their short positions after prices hit a six-week low on previous close. The most-active May contract on the bourse was up 0.5% from previous close. Anticipation of decline in production in 2016-17 (Oct-Sep) also boosted coriander prices. In Kota, market in Rajasthan, the Badami variety and Eagle variety of coriander both up 200-300 rupees from previous close. Arrivals in Kota were at 4,000 bags (1bag=40 kg), up 1,000 bags from previous day.

Ukraine Corn planting lags 66% behind last year.

Ram Gopal Yadav (8 years ago)

Due to this year later start of corn planting against 2016 and in view of last week weather deterioration in Ukraine. This work already lags 66% behind last year. Corn was sown on 688 thousand hectares (15% of its projected area) compared with 2023 thousand hectares at the same date last year (45% of the projected).

Maize price up in Telangana.

Ram Gopal Yadav (8 years ago)

Prices of maize rose in the key market of Nizamabad, Telangana, due to firm demand from the poultry sector. The coarse grain was sold in Nizamabad, up 20 rupees from previous close. Arrivals during the day were around 3,000 bags, each carrying 100 kg of the grain. On the NCDEX, the most-active May contract ended 0.9% down on hope of rise in arrivals in the days ahead. Wheat and maize futures are expected to remain subdued as arrivals are likely to pick up in the days ahead.

Dairy body to buy 750 tonne maize via e-auction.

Ram Gopal Yadav (8 years ago)

The National Cooperative Dairy Federation of India buy 750 tonne of maize through a reverse electronic auction on Friday. The commodity, used as cattle feed, be bought on behalf of Kerala Cooperative Milk Marketing Federation Ltd. The dairy body, which has nearly 200 dairy cooperatives as members, has developed an online trading platform to purchase feed stock and sell dairy products.

CBOT wheat prices slumped last week.

Ram Gopal Yadav (8 years ago)

CBOT wheat prices slumped (-6.23%). Price reduction in Chicago was triggered by the weather factor. Rains in winter wheat producing regions improved crop conditions. At the beginning of the week, 54% of crops were in good and excellent conditions (53% the previous week and 57% last year). This week meteorologists also forecast precipitation, which contribute to further crop conditions improvement. During April 06-13, contracting of the old-crop US wheat equaled 413.9 KMT (-11.2% compared to the same week last season).

Global warming hit India wheat crop in 5-15 year.

Ram Gopal Yadav (8 years ago)

India wheat output, which has risen 40% over the last decade due to improved yield, could come under threat over the next 5-15 years because of global warming. For wheat, high night temperatures have a significant impact on yields, referring to in Africa where higher-than-usual night temperatures cut the wheat crop cycle by 19 days, resulting in a 30-50% fall in yields. Every 1 degree Celsius rise in average daily maximum and minimum temperatures tends to pull down the average wheat yield by 2-4%. Not just the (wheat) yield, but the nutritional value would also come down due to the gradual increase in the carbon dioxide in the atmosphere. Indian farmers are likely to harvest a record 96.6 million tonne wheat in 2016-17 (Jul-Jun), as against the 69.5 million tonne output in 2005-06.