India’s rice exports set to ease as government raises buying price.

Ram Gopal Yadav (6 years ago)

Exporters were this week offering Indian 5 percent broken parboiled rice at $388-$392 per tonne on a free on board (FOB) basis, nearly the same as prices quoted by Thailand exporters. But the hike in guaranteed price will force Indian exporters to offer the new season crop at around $430 from October, making exports uncompetitive.

Kharif paddy area down 15% on yr at 6.7 mln ha.

Ram Gopal Yadav (6 years ago)

Farmers across the country sowed paddy across 6.73 mln ha this kharif season, down 14.9% on year. The area under paddy was also lower than the normal of of 8.57 mln ha for the period. The decline in acreage can be attributed to subdued monsoon rains in key growing regions. Paddy is a water-intensive crop. During Jun 1-Jul 8, the country received 214.2 mm rainfall, 8% below the normal weighted average of 233.5 mm. Sowing of kharif paddy was down in the key producing states of Punjab, Uttar Pradesh, Chhattisgarh and Haryana.

NCDEX coriander down 2% on profit booking.

Ram Gopal Yadav (6 years ago)

Futures contracts of coriander on NCDEX fell over 2%, as investors booked profits ahead of the staggered delivery period. The most-active August contract of coriander on NCDEX was down 2.2% at 4,758 rupees per 100 kg. A fall of 2,370 tn in open interest in the July contract at 6,540 tn indicated profit booking. Prices of coriander also fell in the benchmark market of Kota, Rajasthan, where the badami variety was sold at 4,900 rupees per 100 kg and the eagle variety at 5,300 rupees, both down 100 rupees. Arrivals of coriander in Rajasthan were at 10,000 bags (1 bag = 40 kg), down 1,000 bags from the previous day.

Mustard seed prices up on demand from oil millers.

Ram Gopal Yadav (6 years ago)

Prices of mustard seed rose in Jaipur due to improved demand from oil millers and crushers amid a fall in arrivals. In Jaipur, the benchmark market, prices of the oilseed rose by 20-25 rupees to 4,230-4,250 rupees per 100 kg. Arrivals of mustard seed in Rajasthan fell by 5,000 bags (1 bag = 85 kg) to 60,000 bags. Strong demand for mustard oil in the ongoing monsoon season also supported prices of the seed.

U.S. Soybean Vessel Was Loaded for China Just Before Duties.

Ram Gopal Yadav (6 years ago)

A ship carrying U.S. soybeans took off for China last week just before the Asian country’s retaliatory tariffs went into effect. The shipment of about 69,000 metric tons was loaded from the Pacific region in the week ended July 5. The following day, China imposed tariffs on a slew of American agricultural goods. The country’s ministry of commerce has told companies to boost imports of goods including soybeans from countries other than the U.S.

EU imports 54,000 T soybeans, 280,000 T soymeal in 1st week of 2018/19

Ram Gopal Yadav (6 years ago)

European Union soybean imports for July 1-8, the first reporting week of the July-June 2018/19 season, totalled 54,000 tonnes against 192,000 tonnes in the corresponding period last season. EU soymeal imports totalled 280,000 tonnes compared with a year-earlier 415,000 tonnes, while palm oil imports reached 70,000 tonnes versus a year-earlier 161,000 tonnes.

Soybean down in Indore on global cues, weak meal buys.

Ram Gopal Yadav (6 years ago)

Prices of soybean in Indore were down as investors stayed on the sidelines ahead of a report on global supply-demand. In Indore, the benchmark market for soybean, the commodity was sold at 3,625 rupees per 100 kg, down 10-15 rupees. Lower demand for meal in the domestic market is also seen weighing on prices. The October contract of soybean on NCDEX was down 0.3%.

India soybean area dn 4% on yr at 5.2 mln ha as of Thu.

Ram Gopal Yadav (6 years ago)

Area under soybean across the country was at 5.2 mln ha, down 4% from a year ago. Farmers have expedited the planting of the oilseed because the sowing window is drawing closer. However, the overall acreage is still lagging marginally on year as rains are playing truant in key growing regions of Madhya Pradesh. In Madhya Pradesh, area under soybean was at 2.8 mln ha, down from 2.9 mln ha sown in the year-ago period. Area under soybean would gather momentum in the coming days because the sowing window usually ends by the mid of July.