Soybean prices in Indore were unchanged as lower arrivals were offset by weak demand from oil millers. Farmers brought fewer stocks to the market as lower prices discouraged them to offload their inventory. The most active December futures contract of soybean on NCDEX ended 7 rupees lower.
Jaipur mustard price was down
Prices of mustard seed fell in the benchmark market Jaipur, Rajasthan, due to subdued demand from stockists after prices hit a three-week high. A rise in arrivals also weighed on mustard seed prices. Supplies have increased as farmers have offloaded more produce in order to avail higher prices.
Malaysia CPO ends down on strong ringgit vs dollar
Futures contracts of crude palm oil on the Bursa Malaysia Derivatives ended 1% lower due to a strong ringgit against the dollar. Firmness in the Malaysian currency makes palm oil more expensive for buyers holding other currencies. The most-active February contract of crude palm oil on the Malaysian bourse closed at 2,712 ringgits (42,373.88 rupees) per metric tonne, down 1% from the previous close. Gains in soyoil contracts on the CBOT, however, prevented a sharp fall in crude palm oil prices on the Malaysian bourse.
Belarus became the top importer of Ukrainian soybean meal in September
Soybean meal exports from Ukraine increased to 13.2 KMT in September 2017/18 against 11.7 KMT in August 2017 and 5.7 KMT in September 2016. Growth of soybean crushing early in the season pushed them up to the second highest level after the record export volume of September 2015/16 (15.7 KMT). Belarus begins the new 2017/18 season with more active purchases of Ukrainian soybean meal: the country stepped them up to 4.5 KMT against 0.7 KMT a year ago. Now Belarus holds the leading position among importers – its market share equals 34%. In addition, EU countries maintain an upward import trend and absorb 28% of total soybean meal exports from Ukraine.
Ukraine new season brought a new record in sunoil exports
Sunoil exports hit an all-time high of 537 KMT in October 2017/18 that is 73% more than in the previous month (310 KMT) and up almost 24% from October 2016 (434 KMT). In addition, sunoil export shipments also set a new record in the first two months of MY 2017/18 (September-October): 847 KMT against 706 KMT a year ago (+20%).
Ukrainian farmers planted 860.5 Thousand hectare of winter rapeseed
Oilseed harvesting in Ukraine is drawing to an end. farmers have planted 860.5 Th ha of winter rape that is 12% above the projected 769.2 Th ha. So, winter rape was sown on 836 Th ha a year ago.
Egypt 42.5 KMT of vegoil purchased in a tender
The Egyptian state buyer GASC purchased 32.5 KMT of sunflower oil and 10 KMT of soybean oil in a tender held on November 14, 2017. the sunflower oil was bought at a price of USD 790/MT from Aston (22.5 KMT) and ADM (10 KMT) and the soybean oil was bought at a price of EGP 14670 (USD 831.63/MT) from Watanya/Cargill (10 KMT). The delivery period is January 1-15, 2018.
India Mustard seed up in spot markets on seasonal demand
Prices of mustard seed rose in key wholesale markets of country, as the onset of winters improved demand for mustard oil. Decline in supplies also supported prices. Export demand for mustard meal further lifted oilseed prices in domestic market.
India Palm oil imports up 10.06% to 92.93 lakh tonnes in 2016-17: SEA
India, the world’s leading vegetable oil buyer, had imported 84.43 lakh tonnes of palm oils during the last marketing year (November-October). Palm oil imports rose by 10.06 per cent to 92.93 lakh tonnes in 2016-17 marketing year that ended in October due to lower domestic production. The country’s total vegetable oils (edible and non- edible) import increased by 4.75 per cent to 154.40 lakh tonnes in 2016-17 from 147.38 lakh tonnes the last year. Among soft oil, import of sunflower oil increased to 21.69 lakh tonnes in 2016-17 from 15.16 lakh tonnes last year. The shipment of soybean oil declined to 33.16 lakh tonnes from 42.35 lakh tonnes, while that of mustard seed oil to 2.93 lakh tonnes from 3.77 lakh tonnes in the said period.
Chana prices down in key markets as acreage seen up
Prices of chana were down in Delhi and Bikaner due to expectations of a likely rise in the area under the chana crop. A rise in arrivals, coupled with lacklustre demand from stockists also weighed on prices.
Russian chickpea exports dropped in the beginning of MY 2017/18
Russia supplied 231.6 KMT of chickpeas to foreign markets in the 2016/17 season, or 7.5% more than in the previous marketing year (215.5 KMT was in MY 2015/16). Chickpea exports from Russia slowed down in the beginning of the current 2017/18 season. Russian exporters supplied 39.3 KMT of chickpeas to foreign markets in the first quarter of this marketing year, or 46% less than at the same time a year ago. Russian pulse production has been expanding rapidly since a few years ago. Russia’s 2017 output of pulses is up 27-30% year-on-year.
Farm secy says chana acreage seen up 35-40% on year this rabi season
The area under the chana crop across the country in the ongoing rabi season is likely to rise 35-40% from 9.9 million ha the previous year. Chana acreage so far is more than double the year-ago level. Even if the pace of sowing slows down, area could be 35-40% higher this time. India’s chana output in 2016-17 was 31.7% higher on year at 9.3 million metric tonne. The country’s total pulses output in 2017-18 is expected to be around 22.0 million metric tonne, against 22.95 million metric tonne the previous year. Though there was a shortfall in production of pulses in the kharif season, the rabi crop is likely to compensate for it and the year’s output is likely to match the year-ago level.
NCDEX chana choppy as govt lifts export curbs but mum on import duty
Chana contracts on the National Commodity & Derivatives Exchange were volatile due to mixed cues following the government’s move to scrap all restrictions on exports and remain silent on import duty on chana and masur. After the government announced the measure, the December contract of chana on the NCDEX rose but later closed 1.8%.
Speculation of import weighs on Jaipur barley price.
Barley prices fell in Jaipur due to speculation on import of the grain from Argentina, following concerns over quality in the domestic market. Sluggish demand from malt industries also created pressure on barley prices.
NCDEX barley down taking cues from Jaipur market.
Futures contract of barley was down on the NCDEX, tracking a fall in prices in Jaipur, the benchmark market for the grain. The most active December contract was down 2 rupees.