Bihar rice 3rd Adv. Est.

Ram Gopal Yadav (7 years ago)

Rice output in the state is now estimated at 8.32 million tonne, against earlier projections of 8.49 million tonne. The estimate is still higher than last year output of 6.80 million tonne.

Sugar steady in Maharashtra.

Ram Gopal Yadav (7 years ago)

In Maharashtra, prices of the sweetener are expected to fall as there is selling pressure on mills. Sugar prices are seen falling about 10 rupees (per 100 kg) on Monday. On Apr 5, the government had allowed duty-free import of 500,000 tonne raw sugar under the tariff rate quota. The trade body had on Apr 27 allotted 30% of the total quota for import of raw sugar to Shree Renuka Sugars. On the National Commodity and Derivative Exchange, sugar futures rose, in line with the rise in north Indian spot markets. the benchmark May contract was up 0.4%.

Spot sugar prices up in north India as demand rises.

Ram Gopal Yadav (7 years ago)

Prices of sugar in the key wholesale markets of Delhi and Muzaffarnagar rose on improved demand for the sweetener, with Stuckists replenishing their inventories at the start of the month. Retail demand from households usually increases during the first week, thereby supporting prices. Delhi and Mumbai, sugar was sold up 10 rupees from previous close. On the NCDEX, the most active May contract of sugar traded up 0.1% from the previous close.

Bengaluru coffee auction offtake at 74 tonne, up 25.4% on week.

Ram Gopal Yadav (7 years ago)

J. Thomas & Co Pvt Ltd sold 74 tonne of 257.02 tonne coffee on offer at the auction in Bengaluru on Thursday. The volume of coffee sold was 25.4% higher than the previous auction, Of the total coffee on offer, 151.96 tonne was of the Arabica variety, while 105.06 tonne was the Robusta variety. Roasters in the domestic market purchased superior quality Arabica plantation and cherry variety, while merchants continued to be selective in their purchases. Exporters bought Robusta parchment coffee.

Coffee exporters cautious ahead of GST rollout.

Ram Gopal Yadav (7 years ago)

As the government gears up to roll out the Goods and Services Tax from Jul 1, coffee traders are treading cautiously, unsure of its potential impact. Exporters and domestic traders are not taking long positions and are buying only hand-to-mouth as there is lot of uncertainty surrounding GST taxation rules. Sale of coffee fell over 20% to 74 tonne from 93 tonne sold at the beginning of the season in January. Under GST regime, green beans as well as the ground and roasted coffee may fall under one tax slab, which, according to the trade, is not justified. Industry speculations are rife on what tax rate would be applied on coffee under GST regime, as the government is yet to specify rates for food products.

Spot coriander rates up as demand rises, supply down.

Ram Gopal Yadav (7 years ago)

Prices of coriander rose in Kota, the benchmark market in Rajasthan, because of pick-up in demand from domestic consumers, as well as low arrivals. In Kota, the Badami variety of coriander and the Eagle variety both up 100 rupees from previous close. Arrivals were at 2,000 bags (1bag=40kg) down 1,000 bags from the previous day. On NCDEX, the front-month May contract of coriander was down 1.7% from the previous settlement. NCDEX has cut the open interest limit for the concentration margin in coriander futures to 50,000 tonne from 61,500 tonne. NCDEX has also withdrawn the margin benefit on early pay-in of the spice against short positions. Coriander futures have fallen nearly 20% in the last seven sessions on the bourse, double the pace of the fall in prices in spot markets.

Dairy body buys maize 30,000 tonne.

Ram Gopal Yadav (7 years ago)

The National Cooperative Dairy Federation of India bought 30,000 tonne maize through an online auction. The commodity, which is used as cattle feed, was bought on behalf of the Karnataka Milk Federation. The federation, which has nearly 200 dairy cooperatives as its members, has developed an online trading platform to purchase feed stock and sell dairy products.