Paddy Procurement robust in chhattisgarh and odisha.

Union Ministry of Consumer Affairs, Food and Public Distribution has stated that paddy procurement is already robust in Chhattisgarh and Odisha. The procurement target from the eastern States by the end of Kharif Marketing Season (KMS) 2017-18 is 155.93 Lakh MT. Presently, the figure stands at 53.65 Lakh MT for KMS. In consultation with the States it was decided to procure 330.00 lakh MT of wheat during Rabi Marketing Season 2017-18, which is considerably more in comparison with the last season actual procurement of 229.61 lakh MT. The State government decided to purchase 65 lakh metric tonnes of paddy during the Kharif Marketing Season for year 2016-17. Chhattisgarh stood second in the country in Kharif season 2015-16 among a list of 18 states with targetted procurement of 36 lakh metric tonnes of paddy crop during 2015-16 as per information made available by the Central Government in that year where Punjab ranked first with paddy procurement target of 82 lakh metric tonnes.

Sugar prices unchanged in major markets in thin trade.

Prices of sugar were unchanged in the key wholesale markets of Mumbai and Muzaffarnagar in thin trade. In Muzaffarnagar and Mumbai, sugar was unchanged from previous close. There was no bulk demand for sugar in the market, only day-to-day demand is keeping prices steady. On the NCDEX, the most active July contract of sugar traded up 0.5% from the previous close.

Burkina Faso 2017-18 cotton output seen up 17%.

Cotton production in Burkina Faso, a West African country, is likely to rise 17% on year to 800,000 tonne in 2017-18, as the country started using conventional seeds again. The higher instances of pink bollworm pest attacks in some regions in India despite the use of the BT cotton seed variety has raised questions over the use of the genetically modified seed. BT cotton seed is used widely in India to guard against pink bollworm pest attacks.

ICE cotton down on profit booking post 3-year-high.

July cotton futures on the ICE fell because traders booked profits after the contract hit a three-year-high of 87.18 cents a pound on previous close. The most-active July contract of cotton on the ICE was at 84.54 cents a pound, down 0.9% from previous close. Prices of cotton on the ICE rose because of higher demand for the crop from the US, a heavy build-up in net long positions in cotton contracts.