Kharif paddy area down 1.3% YoY to 1.1 mln ha.

Ram Gopal Yadav (6 years ago)

Sowing of kharif paddy was hit as monsoon current stalled for more than a week, leading to a 1.3% on-year fall in acreage. The crop was planted across 1.10 mln ha compared with 1.12 mln a year ago. The monsoon current has resumed progress and hit Bihar. With a pick up in circulation of monsoon current, paddy sowing is also expected to gather pace.

MMTC seeks expression of interest to export 200,000 tn rice.

Ram Gopal Yadav (6 years ago)

State-owned MMTC Ltd has invited expression of interest from suppliers for export of 200,000 tn of non-basmati rice, white or parboiled, of Indian origin. Interested suppliers have to submit their expression of interest by Jul 5. The commodity should be packed in polypropylene bags of 50 kg each, and must be in “good condition, fit for human consumption, without any unpleasant odour, free from any sign of mould, fermentation or deterioration, and free from any obnoxious and deleterious matters and poisonous weed seeds. The rice must also be free from any kind of insect infestation. The grain should be delivered on cost, insurance, and freight basis at discharge port.

Bangladesh invites bids for import of 50,000 tn milling wheat.

Ram Gopal Yadav (6 years ago)

Bangladesh has invited bids for import of 50,000 tn milling wheat from international suppliers. The deadline for submission of quotations on Jul 3, and bids will be opened on the same day. The country has sought delivery of the consignment within 40 days from the date of signing of the contract.

India Govt FY19 wheat procurement rises 16% YoY to 35.5 mln tn.

Ram Gopal Yadav (6 years ago)

Government’s wheat procurement for the current year started April has topped 35.0 mln tn, up 15.8% on year. The Centre has so far purchased 35.5 mln tn wheat during the current marketing year, against a target of 32 mln tn. In Punjab, the government has purchased 12.7 mln tn wheat so far, while the target was 11.9 mln tn.In Haryana, 8.7 mln tn wheat has been purchased against the target of 7.4 mln tn. In Madhya Pradesh, another major wheat producing state, the procurement was 8.4% higher on year at 7.3 mln tn. The procurement was 42.8% higher on year in Uttar Pradesh at 5.1 mln tn.

NCDEX mustard seed up taking cues from spot markets.

Ram Gopal Yadav (6 years ago)

Futures contracts of mustard seed were up on the NCDEX, taking cues from Jaipur, Rajasthan, where prices rose due to a fall in arrivals amid fresh demand from domestic oil millers and crushers. On the NCDEX, the most active July contract was at 3,934 rupees per 100 kg, up 0.3%. In Jaipur, the benchmark market, prices rose by 10-15 rupees to 4,090-4,100 rupees per 100 kg.

Mustard seed up in Jaipur as arrivals fall sharply

Ram Gopal Yadav (6 years ago)

Prices of mustard seed rose in Jaipur, Rajasthan, due to a sharp fall in arrivals amid renewed demand from domestic stockists after a recent fall in prices. In benchmark market Jaipur, prices rose by 10-15 rupees to 4,090-4,100 rupees per 100 kg. Arrivals of mustard seed in Jaipur were estimated at 75,000 bags (1 bag = 85 kg), down 25,000 bags. Expectation of a rise in demand of mustard oil in the monsoon season also supported prices of mustard seed. However, tepid demand for mustard meal from overseas buyers capped the rise in prices.

US-China trade war offers Brazil opportunity to boost soybean exports.

Ram Gopal Yadav (6 years ago)

One country that could indirectly benefit from the intensifying US-China trade war is Brazil, which finds itself in a strategic position to increase its market share of soybean exports to China. China is expected to import 100 million mt of soybeans this year, up from 95 million mt in 2017. The US accounted for 33 million mt, or just over a third, of the 2017 total. With US soybeans now in line for a 25% tariff, Chinese buyers are likely to shift their interest to the South American region, which accounts for nearly half of global soybean production. The latest estimate for the 2017-2018 Brazilian soybean crop is up to 119 million mt, compared to last year’s harvest of 114 million mt. Of this 51 million mt was exported to China, up 33% up from 2016. The other major South Americn producer, Argentina, is not in much of a position to offer competition this year. Soybean production there has been hammered by poor weather conditions that mean its crop is expected to be the lowest in a decade.This leaves the field open to Brazil as the main supplier of soybeans and at more competitive prices than the other options available on the market. Meanwhile, the weakness of the Brazilian currency enhances farmers’ margins when compared with the more expensive US grains that, despite the drop in prices caused by the US-China trade dispute, are still not as attractive.

Trump trade war with China puts 300,000 soybean farmers, $14 billion export industry in limbo

Ram Gopal Yadav (6 years ago)

Hundreds of thousands of U.S. soybean farmers are rethinking strategy because of a growing fear that a potential trade war with China would cripple the industry. The Trump administration announced $50 billion in tariffs on Chinese goods for “unfair trade practices” involving intellectual property and American technology, and China responded with its own trade threat – $50 billion in tariffs on U.S. goods, including soybeans. Soybean farmers say they are already feeling the pinch. The back-and-forth has caused significant price drops for soybeans this year, just months ahead of harvest season. China imported 60 percent of U.S. soybeans exports in 2017, according to the American Soybean Association (ASA). The ASA, which represents 300,000 soybean farmers, noted a $6 billion price drop for the 2018 crop, which will be harvested later this year.

Stagnant supply to push India’s vegetable oil imports.

Ram Gopal Yadav (6 years ago)

India’s vegetable oil imports will rise to 25 million tonne in 2030 from 15.5 million tonne in 2017 due to increasing demand and stagnant supply. India is the world’s biggest vegetable oil importer. More than 70% of India’s edible oil demand is met from imports. Rabobank estimates Indian vegetable oil demand to grow significantly with a CAGR of 3% to exceed 34 million tonne by 2030, with the per capita consumption pegged at 24 kg in 2030, due to rising disposable income and population growth. Domestic oil seed production growth can’t keep up with rising demand. Rising demand and stagnant domestic vegetable oil supply ,which has been range bound between 6.5 million tonne and 8.5 million tonne in the past decade ,will push India’s vegetable oil imports to over 25 million tonne by 2030.

Soybean up in Indore as supply falls, area seen down.

Ram Gopal Yadav (6 years ago)

Soybean prices in Indore rose because arrivals of the oilseed fell, and as area under the oilseed is seen lower. The area under soybean in the country was at 212,400 ha as of Thursday, down 59% from a year ago. In Indore, the benchmark market, prices were up 50 rupees at 3,450-3,500 rupees per 100 kg. arrivals of soybean in Madhya Pradesh were estimated at 30,000-40,000 bags (1 bag =100 kg), down 4,000-5,000 bags.