Centre-South Brazil Apr 2017-18 sugar output 1.12 million tonne, down 38% year on year.

Ram Gopal Yadav (7 years ago)

Mills in Brazil Centre-South region produced 1.12 million tonne of sugar during the second fortnight of April, down 38.1% from 1.81 million tonne produced a year ago. The fall in sugar output can be attributed to delay in milling and low sugar recovery from cane. Mills in the region, which accounts for more than 90% of Brazil total sugar output, crushed 24.09 million tonne of sugarcane during Apr 2017-18 down 33.5% on year. Mills in the region crushed 41.71 million tonne of cane during April, down 39.7% on year. They produced 1.83 million tonne of sugar, down 43.8% on year. Of the total cane crushed, around 41.5% was used for sugar production, while 58.5% was used to make ethanol. Mills in Brazil Centre-South region are likely to produce 35.2 million tonne of sugar this season compared with 35.6 million tonne produced in the 2016-17 (Apr-Mar) season.

Sugar prices fall in Maharashtra, steady in north India.

Ram Gopal Yadav (7 years ago)

Prices of sugar fell in Mumbai and Kolhapur, in Maharashtra, due to weak buying even as mills lowered their prices to trigger demand. Demand has been subdued for almost two weeks in the state. In the key wholesale markets of Kolhapur and Mumbai, sugar was sold down 5 rupees from Thursday. In the other key wholesale markets of Muzaffarnagar and Delhi, prices were unchanged as trade remained thin. Demand for sugar is also subdued in the country as forecast of normal monsoon in 2017 has dampened the sentiment. Adequate rainfall may help in reviving the sugarcane crop across the southern part of India, which is facing acute shortage of water. Sugar prices in the near term may further fall as supplies are expected to increase once the imported sugar arrives in the market. On the NCDEX, the most-active July contract of sugar traded up 0.2% from the previous close.

Bengaluru coffee auction offtake at 74 tonne of 243 tonne offered.

Ram Gopal Yadav (7 years ago)

J. Thomas & Co Pvt Ltd sold 74 tonne of 243.28 tonne coffee on offer at the auction in Bengaluru on Thursday. The volume of coffee sold was unchanged from the previous auction, held on May 4. Of the total coffee on offer, 154.12 tonne was of the Arabica variety, while 89.17 tonne was the Robusta variety. Roasters purchased superior quality Arabica Plantation variety, while Robusta Parchment coffee received enquiries from exporters.

China sells 73% of 1.18 million tonne cotton offered in Mar-Apr.

Ram Gopal Yadav (7 years ago)

China has so far managed to sell 869,712 tonne of the 1.18 million tonne of cotton from its state reserves during Mar-Apr. During Mar 6-31, the country sold 465,722 tonne out of 615,082 tonne it offered to textile mills, while during Apr 1-28, 403,990 tonne of the 568,254 tonne were sold. The total auctioned cotton was mainly from its domestic stocks, In April, the average price realisation of the cotton auctioned ranged from 14,639 yuan a tonne to 15,312 yuan. The country is de-stocking its massive state cotton reserves built over the past three years. China cotton auction has the potential to influence global cotton prices. International Cotton Advisory Committee has projected China stocks ending for the current season at 9.3 million tonne, accounting for 53% of world stocks. In 2016, the country had sold around 2.6 million tonne cotton from its reserves and expects a similar volume to be sold this year. It sells cotton stocks until Aug 31.

MCX cotton up 2% as prices on ICE near 3-year high.

Ram Gopal Yadav (7 years ago)

Futures contracts of cotton traded up 2% on the MCX, tracking a sharp rise in the benchmark contract on ICE. May contract of cotton on MCX traded up 2.2% from the previous close. On ICE, the most-active July contract hit a three-year high of 82.18 cents per pound. Cotton prices on ICE rose sharply because of short covering. Prices rose as ending stocks of cotton are expected to fall globally in 2017-18. The US Department of Agriculture has pegged the world 2017-18 (Aug-Jul) cotton ending stocks at 87.14 million bales (1USbale=480 pound), lower from 89.52 million bales in 2016-17.

Coriander prices fall in Rajasthan as arrivals rise.

Ram Gopal Yadav (7 years ago)

Prices of coriander in the spot markets of Rajasthan fell because of a sharp rise in arrivals. Arrivals in Kota and Ramganj more than doubled to 13,000 bags (1bag=40kg) from 5,000 bags on Thursday. In the benchmark market of Kota, the Badami variety and the Eagle variety both down 100 rupees from the previous day. On the NCDEX, the most active June contract of the spice traded down 0.3% from the previous settlement.