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Archive for December, 2015

Agri Commodity News update 30 Dec 2015

Castor Oil Export Increased By 47% Week On Week Basisimages-1.jpg

Castor oil export during week ending 20th Dec-2015 increased by47 % from 10606.6 to 15693.28 tonne at an Average FoB price of $1335.78 per T. India had exported 35434.25 tonne oil in last three weeks in Dec-2015. Price realization too has increased by 1.16 percent last week. As prices of seed are expected to decrease, FoB quotes are bound to trade weak once again in the near term.

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B,desh Invites International Tenders To Import 50,000 T Wheat

B,desh has issued an international tender to import 50,000 tonnes of milling wheat. The deadline for this offer is 10th of January-2016.Bid winners have to deliver wheat within 40 days  of the signing of the contract.The tender called for wheat with at least 12.5 percent protein and a minimum test weight of 76 kilos per hectoliter.Around 1.25 lakh tonne wheat has been rejected due to quality reasons in last four weeks.Wheat imported from Brazil was rejected ealier.French wheat too was found below quality norm in recent weeks.

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Export Premium For US Wheat Stayed Steady Due To End Of Year Holidays

Export premiums for wheat shipped from the US Gulf Coast were steady in light dealings as many traders were absent from the market for end-of-year holidays.US wheat export demand is facing headwinds from ample world supplies and a strong dollar, which makes the grain more expensive for those buying with other currencies. Egypt’s GASC is seeking cargoes of wheat from various origins for shipment January 21-31. Results of the snap tender are expected by this weekend. Traders are not expecting US wheat to be offered in the tender due to uncompetitive prices.Traders continue to monitor grain sales in Argentina, which have been lighter than anticipated following the peso devaluation, cuts to export taxes and an expected lifting of wheat and corn export quotas. Any increase in sales of stored grain would challenge US supplies in the world market.

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Cardamom Futures January Contract Hit Upper Circuit Level

Cardamom January future market up by 3.99% (High –708.90/Kgs) on Tuesday.

Export demand continued in the spot market for grade variety cardamom. Exporters have bought an estimated 80 tonnes of cardamom last week.

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Cotlook Fell By More Than 20% In 2014-15: ICAC

According to the latest report of ICAC, average Cotlook A index during the season 2014-15 stood at 71 cents per pound, around 22% lower when compared to the index previous year which was 91 cents per pound and around 19% lower when compared to the price during previous to last season which was 88 cents per pound.

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Agri Commodity News Update 29th Dec 2015

Government To Cut Cotton Procurement Drastically

Due to the robust demand from overseas including Pakistan, Government of India is expected to cut drastically on the cotton purchasing under the MSP operation this season. According to the sources, country spent Rs 160 billion to procure 8.7 million bales of cotton in season 2014-15, surprisingly it could only spend Rs 20 billion approximately to procure 1 million bales of cotton in the current season i.e.2015-16.

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Cotton Weekly Price Review and Outlook

Average price of Kapas at Rajkot during the week was Rs. 4790 per quintal, which stood at Rs 4665 previous week. Average price of Lint at Sirsa during the week was Rs. 3510 per maund (of 37.32 Kg each), which stood at Rs 3445 previous week. Cotton fiber (Shankar-images-1.jpg6) prices remained firm this week. Average price was Rs 33675 per candy (of 355.6 kg each) during the week, which was Rs 33810 per candy previous week. Future price of cotton (at NCDEX, April’16 contract) remained sideways this week and closed at Rs. 899.5 per maund (of 20 kg each) which was Rs 885.5 a week earlier.

In the coming week we expect Kapas price to remain firm with the price band of Rs. 4650-4800 per quintal in the bench mark market. Lint price at Sirsa is likely to be in range of Rs 3450-3600 per maund. Kapas prices at NCDEX (April’16 contract), is expected to hover in the range of Rs.890-925 per maund (of 20 kg each).

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India Weekly Rice Export Up by 14%

Total Rice exported from India in the third week of December was 178763.75 tonnes, up about 14.17% from last week export of 156573.02 tonnes. Out of total rice exports, basmati rice contributes 58.93%, and non-basmati rice is 41.06% in this period with quantity of around 105349.19 tonnes and 73415 tonnes respectively as per latest data extract from IBIS. Major importers of Indian Basmati rice in this period were Saudi Arabia, Iran and Kuwait whereas top importers for non-basmati were Benin, Djibouti and Nigeria. We expect Middle East countries to remain the major basmati buyers for Indian Basmati from Tuticorin, Mundra, Kandla and Kakinada Port in coming months.

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U.S Corn Weekly Exports Surge

As per USDA, U.S corn exports reached 84,86,631 metric tons in the 2015-16 marketing year. At 8,23,584 MT (for the period 11th Dec- 17th Dec, 2015) exports were up 66 percent from the previous week and 75 percent from the prior 4-week average.  The primary destinations were Mexico (164,500 MT), Japan (148,500 MT), Saudi Arabia (143,700 MT), Colombia (138,600 MT), South Korea (71,500 MT), Panama (35,300 MT), and Taiwan (34,700 MT).

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Castor Seed Cash Market May Trade Range Bound In The Near Term

Castor seed markets trade steady to slightly week taking clue from weak futures. Increasing possibility of ample supply from  new crop and active bears operators have weakened sentiments in the cash market.As prices are ruling lower recovery at current level is expected in futures  market around mid January-2016.Export demand continues and it may lend support to cash market  in the coming weeks.Futures market may test 4000-4100 level once again. However,at peak arrival season prices may hover in in the range of Rs 3000 to 3200 per qt.medium term outlook remains bearish.

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Agri Commodity News Update

U.S Corn Weekly Exports Surge

agri commodity tips news

As per USDA, U.S corn exports reached 84,86,631 metric tons in the 2015-16 marketing year. At 8,23,584 MT (for the period 11th Dec- 17th Dec, 2015) exports were up 66 percent from the previous week and 75 percent from the prior 4-week average.  The primary destinations were Mexico (164,500 MT), Japan (148,500 MT), Saudi Arabia (143,700 MT), Colombia (138,600 MT), South Korea (71,500 MT), Panama (35,300 MT), and Taiwan (34,700 MT).

Castor Seed Cash Market May Trade Range

Bound In The Near Term

Castor seed markets trade steady to slightly week taking clue from weak futures. Increasing possibility of ample supply from  new crop and active bears operators have weakened sentiments in the cash market.As prices are ruling lower recovery at current level is expected in futures  market around mid January-2016.Export demand continues and it may lend support to cash market  in the coming weeks.Futures market may test 4000-4100 level once again. However,at peak arrival season prices may hover in in the range of Rs 3000 to 3200 per qt.medium term outlook remains bearish.

Cardamom Supply Reported Up Current Year

Cardamom supply reported up during the week. Total arrivals during the season from April to 18th December were at around 11304 tonnes against 10204 tonnes in the corresponding period last year. Sales were at 7089 tonnes and 3258 tonnes respectively.

Weekly Guar Gum Export Figures

In the third week of December 2015, India has exported 4146.8 tons of guar gum powder, 1100 tons of guar splits and 2736 tons of guar meal.

Recent week guar gum powder exports are 5.5% higher compared to last week export figures but declined by 5.1% compared to last month same period.

Egypt Buys Wheat From Argentina At $190.94 Per T

Egypt Buys 1.2 lakh tonne wheat from Argentina for January end delivery.Wheat has been brought from Louis Dreyfus at the average price of $190.94 a tonne cost and freight.It is first time Argentina has brought wheat from Argentina.

 

AGRI COMMODITY TIPS:- MORNING NEWS UPDATE 23 DEC 2015

AGRI COMMODITY MORNING NEWS

WTO To Provide LDC’s Cotton The Duty-Free Access In Developed Nations

During a Ministerial meeting at World Trade Organization (WTO), held at Nairobi, a
decision was made to give more importance to cotton form least developed countries by
providing duty-free and quota-free access to the developed nations. The decision includes
three elements that is market access, domestic support and export competition and the
same will be effective from January 01, 2016.

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India Exports 772.49 Tonne Wheat last Week At An Ave FoB Of $332.78 Per Tonne

Wheat export from India begins once again after a gap of three weeks. India exported 772.49 tonne wheat during the week ended 20th Dec-2015 at an average price of $332.78 per tonne. Philippines brought 222.78 tonne, UAE 378 tonne and Somalia around 100 tonne last week. Other Buyers were Bahrain and South Africa.During the same period India
imported3850 tonne wheat from Australia at an average CiF of $254.42 per T.Wheat has been sourced from Australia and offloaded at Cochine port.

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Castor Oil Export Increases By 47.96 % Last Week

Castor Oil Export during week ended 20 th Dec-2015 was registered 47.96 % higher to 15693.28 tonne week on week basis. Price realization too increase by 1.16 percent during the same period of time.Previous week India has exported 10606.6 tonne oil at an ave price of $1320.31 per tonne.India exported castor oil at an average price of $1335.78 per
tonne. As prices are ruling lower, export volume is expected to remain at higher level in January-2016 too.

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After Pulses Rice Gears Up For Bull Run

Indian rice price is expected to shoot up after the beginning of New Year. After toor dal that was making every meal pricey till recently, now it is the turn of rice. Continuously two years of lower rainfall (El-Nino) directly hampered the paddy production in various growing states.  As per Agriwatch estimates, around 99-100 million tonnes of rice production in 2015-16 is expected which is down by 4-5 million tonnes from last year. Apart from production, carry over stock in the MY 2015-16 is approx 50-52% down from last year stock of 17-18 million tonnes to 7.5-8 million tonnes. Non-basmati as well aromatic cash rice market would continue to trade firm taking clue from firm global market and renewed export demand from India, besides lower rice production, carryout stock, supported by higher demand has lent support to cash rice market fundamentals.

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Lower Wheat Acreage Would Reduce Wheat Production Size Below 85 MMT In 2016

Late sowing, lower rainfall and increasing fear of 10/15 lakh ha lower coverage will impact final size of wheat crop this year below 85 MMT.As on 18th December-2015, total area under wheat was recorded at 239.45 lakh ha, lower by 10.74 % from previous year(268.26 lakh ha) on corresponding date. Major short fall has been seen in states like Uttar Pradesh (19.17% 74.59/91.28 lakh ha), Rajasthan (9.33% 24.69/27.23 lakh ha), Madhya Pradesh (13.33%, 40.58/46.42 lakh ha),Gujarat (26.13 %,6.05/8.19 lakh ha) .The states like Bihar, Punjab and Haryana  have covered slightly higher area this year so far.Bihar,Punjab and Haryana have covered1.51,0.65 and 1.07 % higher area respectively so far.In these states sowing has entered at final stages now

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AGRI-COMMODITIES : NEWS UPDATE 22 DEC 2015

The Agriwatch Agri Commodities Index rose by 1.03% to 103.05

during the week ended Dec 19, 2015. The Index had stood at 102.0 during the previous week ended Dec 12, 2015. The base for the Index is Jan 1, 2014 (= 100). The Index was led higher by the sweeteners group (sugar, gur, khandsari) which increased by 4.75% during the week, the cereals group (+2.26%) and condiments group (+0.06%). All other groups registered declines during the week. The weekly changes in the other groups were: Pulses (-0.06%), Vegetables (-2.2%), Edible Oils (-0.9%), Fibres (-0.13%), Oilseeds (-1.22%) and Other Non-food articles (-2.05%). The charts showing the indices of each commodity group and individual commodities along with the methodology used for computation of these indices can be viewed online on
the ET website and on.download

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Jeera Sowing Scenario in Rajasthan and Gujarat State

In 2015-16, Jeera sowing in Rajasthan (Jodhpur division) reported 2,42,000 hectares as compared to last year 2,39,882 hectares till 15-12-2015. Current year in Jodhpur district area reported 1,30,000 hectares as compared to last year 1,35, 359 hectares and in Barmer district, Jeera area reported 1,12, 000 hectares  as compared to last year 1,04, 523
hectares. Sources revealed that, Jeera sowing almost finished in Rajasthan major growing regions.

In Gujarat state, current year till 14-12-2015, sowing completed 2,43,000 hectares, Normal area is 3,52,300 hectares. Last year Jeera sowing reported 2,66,700 hectares. Jeera sowing reported low in Gujarat as compared to last year area, 95% sowing completed in Gujarat current year. Farmers reveled that, Jeera sowing delay in Gujarat as compared to Rajasthan around 15 – 20 days. As per trade information, new Jeera crop arrivals may delay as compared to normal arrivals time.
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China Cotton Supply and Demand Situation: CCA

According to the China Cotton Association, the country is likely to import around 1.65 million tons of cotton in 2015-16. China during the current season would be consuming around 7.2 million tons. The ending stocks by the end of season 2015-16 would be around 13.16 million tons as compared to 13.56 million tons in 2014-15.

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China To Witness 20% Fall In Production: CCA

China is likely to produce 5.15 million tons of cotton this season, around 70,000 tons or 20.76% lower when compared to the previous year, according to the latest estimates by China cotton association.

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Daily Guar Gum Export Figures

India has exported 997 tons of guar gum powder and 60 tons of Guar splits on 18th December 2015 mainly to US, UK, Germany, Italy. Exports of guar gum done mainly from ports: Bhagat ki Kothi ICD, Mundra Port and Sabarmati ICD.

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MCX-NCDEX TIPS: Agri News Update 21 Dec 2015

MCX-NCDEX TIPS

Rabi Pulses Weekly Sowing Progress

According to the Ministry of Agriculture, area under Rabi pulses throughout the country stood 123.70 lakh hectares as on 18th December this year, around 1.2% higher when compared to the area sown during corresponding period last year which was 122.26 Lakh hectares.

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MCX-NCDEX TIPS

Cotton Pakistan Production May Dip By 32% In 2015-16

Cotton supply situation in Pakistan is in trouble this season. According to the latest arrival data, so far 9.034 lakh bales of cotton has been arrived in Pakistan as on 15 Dec 2015, which is around 32 per lower when compared to the arrival of same period during last year, and hence denoting a severe deficit in production.

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Cotton Export Blooms Up By 80% During Oct-Nov

Cotton exports from India during October-November noticed a rise of 80% a compared t the previous month. India exported around 18 lakh bales of cotton during the October and November, which were 10 lakh bales during the same period previous year. According to the cotton corporation of India (CCI), India is likely to export around 60-65 lakh bales ofcotton, whereas Cotton Advisory Board estimates it to be around 68 lakh bales.

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China Could Import More Yarn Instead Of Raw Cotton

China is likely to import more cotton yarn this year instead of raw cotton, according to International Cotton Advisory Board (ICAC). As labor cost is rising in country, China is willing to cut the cost of cotton processing; meanwhile South East Asian countries are processing cotton at much cheaper rates.

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NCDEX TIPS MARKET NEWS UPDATE 18 DEC 2015

NCDEX TIPS NEWS

Agri commodity tips

Argentina Devalues Peso By 26.5%, Grains Farmer Gets Benefitted

Argentina local currency Peso has plunged 26.5 percent with govt’s free market reforms  being underway.Govt wants to revitalize the stagnant economy.It was the sharpest one-day devaluation in decades.Farmers have benefitted much with this decision.Farmers in Pampas grain belt will start getting paid in stronger U.S. export dollars, while average consumers risk seeing their purchasing power fall.Large devaluations tend to be pretty disruptive and negative for gross domestic product in the short-term, but much more helpful in the long-term

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FSG Revises EU Soft Wheat Export Forecast Up By 0.8MMT To 27.6 MMT

French consultancy Strategie Grains has revised its forecast up for EU soft wheat exports this season in view of improved competitiveness on world markets and evidence of more buoyant exports, particularly from France. EU soft wheat shipments may reach at 27.6 million tonnes, 800,000 tonnes above last month’s estimate but still sharply lower than
the 32.5 million exported last season.

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India Gets Lower Coffee Exports Revenue By 4.46% In November 2015-DGCIS

As per DGCIS latest report, India received around Rs.306.63 crore as the total coffee exports revenue which is 46.38 million in USD in October 2015. This is lower by 4.46 % in Rs. and 10.82% in USD respectively as against Rs.320.94 crore and USD 52.01 million respectively in the corresponding month of previous year. It stood at Rs. 3294.41 crore and the value in USD at 511.97 million since April-2014 to November 2015 up by 3.86% in Rs. however down by 2.51% in USD as against  the last year revenue i.e. Rs.3171.94 crore and in USD 525.15 million in corresponding period of time.

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India Will Produce 350,000 Tonnes Of Coffee Beans In 2015/16

As per the state- run Coffee Board, India may harvest total 350,000 tonnes of beans in 2015/16 with a decline of 1.6% from the previous estimates followed by 107800 tonnes of Arabica and 24200 tonnes of Robusta in the 2015/16 marketing year which started from 1st October 2015 on account of recent heavy rainfall. India exports three-quarters of its production. Italy, Germany and Belgium are the main buyers of India’s crop. However, the production estimates is placed higher by 7% against last year records harvesting i.e. 327000 tonnes due to ample rainfall in coffee growing areas in India.

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