Latest Report on Oil seeds Daily | Oilseeds Daily 20171103.pdf
Latest Report on Wheat Daily | Wheat_Dail 20171103.pdf
Latest Report on Wheat Daily | Wheat_Dail 20171103.pdf
Latest Report on Coriander Daily | Coriander Daily 20171103.pdf
Latest Report on Coriander Daily | Coriander Daily 20171103.pdf
Latest Report on Rice | Rice Daily 20171103.pdf
Latest Report on Rice | Rice Daily 20171103.pdf
US winter wheat crop condition worse than expected.
The winter wheat crop in the US is in a worse condition than expected. Around 52% of the wheat crop is in good or excellent condition, lower than expectation of 59% and also worse than 58% a year ago. wheat sowing in the US was 84% complete, slightly lower than 85% a year ago.
CBOT wheat up on short covering post recent fall.
Futures contracts of wheat on the CBOT rose as investors covered their short positions after prices fell over 4% in the last six trading days. Prices of wheat had declined as planting in the key growing regions in the US is almost complete and the harvest is expected to add to the existing glut in the global market. December contract of wheat on the CBOT was at $4.2025 per bushel (1 bushel = 27.2 kg), up 0.5% from the previous close.
NCDEX wheat down as import duty hike seen unlikely.
November wheat contract on the NCDEX was down 1% from previous close.
Haryana farmers told to sow long duration wheat.
Agrimet division of the India Meteorological Department has advised farmers in Haryana to complete sowing of long duration variety of wheat in key growing regions by November end. Farmers should sow PBW 725, PBW 677, HD 3086, WH 1105, PBW 621, HD 2967, WHD 943 and PDW 291 long-duration varieties of the crop.
EU sets Dec 31 deadline to adhere to new Basmati import norms.
European Union has given time to India till December 31 to meet the bloc new norms on importing Basmati rice. The new norms set by European Commission bring down the maximum residue limit (MRL) level for Tricyclazole (a fungicide) in Basmati rice to 0.01 mg per kg from next year. The norms are applicable on all rice-exporting countries.
Thailand aims to boost rice exports; India rates dip on fresh supply.
Thailand has exported 8.23 million tonnes of rice since January to September this year and have a target to reach 11 million tonnes in exports by the end of the year. India’s rice exports during April-August rose 7.4 percent from a year earlier, to 5.13 million tonnes, as shipments of non-basmati rice surged. The country mainly exports non-basmati rice to African countries and premier basmati rice to the Middle East.
India rice exports during April-August rose 7.4 percent.
India rice exports during April-August rose 7.4 percent from a year earlier to 5.13 million tonnes as shipments of non-basmati rice surged. Non-basmati rice exports jumped 9.4 percent to 3.29 million tonnes, while premium basmati rice exports rose 4 percent to 1.85 million tonnes, the Agricultural and Processed Food Products Export Development Authority said in a statement. India mainly exports non-basmati rice to African countries and premier basmati rice to the Middle East. The country`s buffalo meat exports in April to August edged up 0.2 percent to 503,496 tonnes, while guar gum exports surged 61.5 percent to 218,165 tonnes.
Govt 2017-18 rice purchases at 13.2 million metric tonne so far, up 7.1% on year.
The government has procured 13.2 million metric tonne rice so far in the 2017-18 (Oct-Sep) marketing year at a minimum support price of 1,550 rupees per 100 kg. The procurement is 7.1% higher than 12.3 million metric tonne purchased a year ago due to a higher MSP. The support price of common grade paddy is 1,470 rupees per 100 kg. The procurement was highest in Punjab where the Centre has bought 9.2 million metric tonne rice so far, up from 8.9 million metric tonne a year ago. The second highest contributor to the central pool was Haryana where the government has bought 3.8 million metric tonne rice, up 13.3% on year.
CBOT soybean up on concerns over low US crop yield.
Futures contracts of soybean rose for the third straight day on CBOT on concern over a lower-than-expected yield of the US crop. Contracts also extended gains on the back of good demand for US soybean from China. the January contract was at $9.97 per bushel, up 0.6% from the previous close.
GAPKI head Supriyono sees CPO output up 12.3% at 36.5 million metric tonne in 2017
Indonesia Palm Oil Association, or GAPKI, expects the country’s crude palm oil production to increase 12.3% to 36.5 million metric tonne in 2017. With the estimated significant increase in palm oil production this year, Indonesia’s exports (of crude palm oil and its derivatives) is expected to reach 30 million metric tonne, up around 20% from last year.
Malaysia CPO ends down noting losses on CBOT soyoil.
The futures contracts of crude palm oil on the Bursa Malaysia Derivatives ended lower, taking cues from soyoil contracts on the CBOT. A strong ringgit against the dollar further weighed on crude palm oil prices on the Malaysian bourse as firmness in the ringgit makes palm oil more expensive for buyers holding other currencies. January contract of crude palm oil on the Malaysian bourse closed at 2,820 ringgits (43,092.01 rupees) per metric tonne, down 0.6% from the previous close.
Farm panel member sees sharp hike in CPO, refined oil import
The government may raise the import duty on edible oils and export incentives on soymeal to push domestic prices of soybean above minimum support price. It was suggested to raise import duty on refined edible oils to 45% and on crude palm oil to 35%. Also discussed to double the incentive on soymeal exports to 10% from 5%. Both the steps help push soybean prices above the minimum support price.
Jaipur mustard seed up on likely import duty hike.
Mustard seed prices rose in Jaipur, Rajasthan, due to expectations of a hike in import duty on edible oils soon.Expectations of fall in mustard acreage this season due to low soil moisture also pushed prices higher.
Indonesia to retaliate against EU discriminative palm oil policy.
The Indonesian government has issued a fresh threat to European Union countries that it would stop importing milk powder, wine and Airbus aircraft if the bloc continues discriminating against palm oil in its market. European parliament started a trade war by passing a resolution earlier this year that accused oil palm plantations of causing deforestation. EU discriminatory policy on palm oil is actually a matter of competition in the global market between palm oil and vegetable oils produced in the EU. The Indonesian government does not subsidise palm oil, there is no dumping practice either.
Soybean ends higher on bargain buying, CBOT cues
Futures contracts of all components of the edible oil basket rose significantly on domestic exchanges. Soybean on the National Commodity and Derivatives Exchange closed 2.5% higher, bolstered by strong buying at lower price levels by stockists and crushing plants.
NAFED buys 14,219 metric tonne groundnut in shell
The National Agricultural Cooperative Marketing Federation of India has procured 14,219 metric tonne of groundnut-in-shell in Gujarat and Rajasthan under the price support scheme. NAFED started procuring the crop from growers as market prices fell below the minimum support price of 4,450 rupees per 100 kg, inclusive of a bonus of 200 rupees.