India Wheat price shoots up after increase in import duty.

Ram Gopal Yadav (6 years ago)

Wheat prices have shot up within two months after rise in the import duty. The Centre had raised the import duty by 10 per cent to curb imports of wheat in May this year and the wholesale prices have gone up by up to 10 per cent in last couple of weeks. Wheat, which was selling at Rs 1,750 per quintal, has crossed Rs 1,900 per quintal mark and traders claimed that it is expected to rise further. Rise in import duty could be one reason. Southern states generally procure wheat from other countries. However, this time they have not procured from outside. Increase in import duty is the reason they placed orders with the northern states. The open sell price of wheat has also been fixed at higher rate of Rs 1,900 and more for upcoming quarters.Retail prices have also gone up accordingly in Delhi.

PHL rice production seen reaching 12.9 MMT in 2018.

Ram Gopal Yadav (6 years ago)

The country’s rice output this year could rise by 1.6 percent to a record high of nearly 13 million metric tons (MMT) on the back of favorable weather conditions and high farm-gate prices. Asia is expected to drive the global production expansion of 2018, harvesting a record 461.9 million tons, up 1.2 percent from 2017. Despite the record-high harvest, Manila’s rice imports this year would expand by half to 1.5 MMT, from 1 MMT a year ago, as the government seeks to beef up the National Food Authority’s (NFA) depleting stockpile and keep retail prices of the staple within affordable level.

Vietnam wins contract to export rice to Korea.

Ram Gopal Yadav (6 years ago)

A Vietnamese company has won a bid to export 60,000 tonnes of Japonica brown rice to the Republic of Korea (RoK), defeating competition from rivals of China, Thailand and Australia. The deadline for delivery of 60,000 tons to South Korea’s port is September 15.

Inidan farmers across the country sowed paddy across 11.68 mln ha

Ram Gopal Yadav (6 years ago)

Inidan farmers across the country sowed paddy across 11.68 mln ha this kharif season, down 8% on year. The area under paddy was also below the normal average area of 13.02 mln ha for the period. However, after a delayed start, the sowing of paddy picked up pace last week, with rainfall increasing over the country. Paddy acreage is up 73.53% from the previous week. Uttar Pradesh, which is the largest grower of paddy in the country, has recorded a fall of 11.7% on year in paddy area to 1.73 mln ha due to below-normal rains.

Canada lentil area is said to be lower

Ram Gopal Yadav (6 years ago)

Canada lentil area is said to be lower than intended by one million acres to 3.77 MMT.Agri experts expected it to be 4.05 million acres. Actually, at the time of sowing prices remained subdued and it impacted farmers to reduce area from 4.05 to 3.37 million ha. Canada had planted 4.4million acres in 2018.Under current prevailing condition production would be only slip from last year’s 2.559 million metric ton (MT) harvest to 2.495 million this year.

Lentils production in Australia too is bound to decline

Ram Gopal Yadav (6 years ago)

Lentils production in Australia too is bound to decline from 8.3 to 4.19 lakh tonne in 2017-18. It is almost 50 % down from last year. Lentils area was reported higher by 16 % at 3.55 lakh ha. Due to rough weather condition Lentils production, would decline to 4.19 lakh tonne. Field peas production too, is bound to decline by 32.47 % to 2.8 lakh tonne in 2017-18. Australia had produced 4.15 lakh tonne field peas in 2016-17.

Chana futures gain 3.68% on rising demand.

Ram Gopal Yadav (6 years ago)

Chana futures gain 3.68% on rising demand. Chana prices rose 3.68 per cent to Rs 4,169 per quintal in futures trade as participants created fresh positions, driven by rising demand from dal mills in the spot market. Besides, tight stocks positions following drop in arrivals from producing regions, too, fuelled the uptrend. The rise in chana prices to surging demand in the spot markets against restricted supplies from the producing regions.