Canada Manitoba bean crops nearing maturity.

Ram Gopal Yadav (7 years ago)

Canada exported 101,300 tonnes of peas during the week ended September 3. Dry bean crops in Manitoba are at, or nearing, maturity in most cases. Early harvest operations are underway in the Pembina Valley, with yields of 1,800 to 2,500 pounds per acre reported for pinto beans and 2,000 pounds per acre for cranberry beans.

Centre allows import of additional 44,000 tonnes of tur dal.

Ram Gopal Yadav (7 years ago)

Following the imposition of annual import ceiling on pigeon peas (tur dal) fixed at two lakh tonne last month in response to the glut in the domestic market, the Centre has allowed an additional 40,000-44,000 tonne of the pulse to be imported. This has been done to accommodate the orders already paid for by traders prior to the restriction. It was brought to the notice of the Directorate General of Foreign Trade that some traders had already given advance to foreign suppliers before the import ceiling was imposed. Since they can’t get their money back they are being allowed to import the contracted amount. When the government imposed the import restriction of an annual 2 lakh tonne on tur dal, the import limit had almost been reached. So the additional amount that is coming to the market is just restricted to the 44,000 tonne of pigeon peas that was contracted before the restriction was imposed.

Sebi considering lifting a decade-old ban on futures trading of tur and urad.

Ram Gopal Yadav (7 years ago)

With fears of inflationary pressure in pulses having been abated due to a bumper harvest in 2016-17 and the government inventory brimming with around two million tonne of pulses stocks, the regulator is weighing the possibility of lifting the ban. The review of the ban has started but a final decision on allowing such futures could be taken after factoring in production estimates as areas under pulses are down by almost 4% from a year earlier. Prices of tur started plunging late last year as farmers, encouraged by record prices in 2015-16, stepped up sowing of the key pulse variety, leading to an all-time-high production level of 4.78 million tonne in 2016-17. This was 87% higher than the production in the previous year and far exceeded the target of 3.62 million tonne for 2016-17.

European vegetable oils were firm.

Ram Gopal Yadav (7 years ago)

European vegetable oils were firm, supported by a strong rise in Malaysia, but activity remained thin with some buyers seeing the recent rise as overdone. Malaysian palm oil futures jumped to their highest level since March, driven by a fall in production and higher exports that kept inventory numbers lower than expected.

Brazil 2017/18 soy planting seen delayed due to climate factors.

Ram Gopal Yadav (7 years ago)

Weather forecasts suggest soybean planting in key regions of Brazil may be delayed due to scarce rains following the end of the fallowing period in states like Paraná, Mato Grosso and Mato Grosso do Sul. The absence of rains over the next 10 days in these three regions, where about 51 percent of Brazil’s soybeans are grown, will push back planting this year in relation to last.

Egypt issued a tender to purchase vegoils.

Ram Gopal Yadav (7 years ago)

Egypt’s state buyer GASC has issued a tender to purchase 10 KMT of sunflower oil and 30 KMT of soybean oil. The sunflower oil is to be delivered between October 25-November 10, 2017 and the soybean oil between November 5-20, 2017. In addition, it is planned to purchase 10 KMT of soybean oil for Egyptian pounds. The deadline for tender bids is September 12, 2017.