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Archive for January, 2016

Agri Commodity News Update 28 January 2016

Malaysia’s Jan. 1-25 Palm Oil Shipments Eased 8.3% – SGS

Shipments of Malaysian palm oil during January 1-25 fell by 8.3 percent to 931,173 tonnes from 1,015,105 tonnes in the corresponding period last month.

Top buyers were European Union at 198,188 tonnes (266,465 tons), India at 170,000 tons 203,400 tons), China at 97,607tons (22,200tons), United States at 54,735 tons (101,712 tons) and Pakistan at 29,000 tons (39,500tons). Values in brackets are figures of the corresponding period last month, reports cargo surveyor Societe Generale de Surveillance.

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Argentina is Expected to Harvest 58 Mn T of Soybean in 2015/16 – BAGE

Argentina is likely to produce 58 million tonnes of soybean in 2015/16. This is the first estimate by Buenos Aires Grain Exchange in the weekly report last week.

However, according to the estimates by the government agency, the Argentina’s 2015/16 soybean production is estimated near 60 MMT which is below last year production of 61.4 MMT.

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Wheat Area Lags Behinsd By 4.46 % To 291.97 Lakh Ha Till 22nd Jan-2016

All India Wheat Area coverage recovered slightly from 288.98 to 291.97 lakh ha till 22nd Jan-2016. Despite recovery week on week basis, overall area coverage lags behind by4.46% till date.Total area coverage had been recorded at 305.6 lakh ha last year till 22jan-2015.Gujarat lags behind by 20.90 %,M.P by 10.82% and UP by 4.09 %.As wheat sowing is over now,weather condition remains very crucial for yield as sowing has been delayed by two weeks.

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Castor Oil Export Increases By 21% To 6424.08 Tonne Last Week

Castor Oil export during the week ended 17 th Jan-2016 was registered at 6624.08 tonne, higher by   by 21.78 % from previous week(5442.65 tonne). India exported at an average FoB price of $1308.97 per tonne, lower by 2.97 percent from previous week. It had exported 5442.65 tonne oil during the week ended 10th   Jan-2016 at an average price of $1343.51 per tonne.

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Yellow Flower In Castor Plants May Reduce Yield By 10 To 15% In parts Of Gujarat

Yellow flowering in castor plants in Mahesa,Banskantha and other regions have been reported by farmers and it may reduce normal yield expectation by 10 to 15 % and resultantly the crop size by 50,000 thousand tonne in that particular area. If weather turns rough castor price may firms up in the season once again.Hailstorm,heavy rains and higher than normal temperature too may damage castor yield. However, at current condition market is likely to trade bearish. Stake holders must keep eye on any weather aberation.

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Agri Commodity News Update 25 January 2016

fgsdgdChina Cotton Imports Reaches Nine Years Low: Reuters

China cotton imports have moved 9 years low, according the calculation of Reuters. The country imported 188,200 tons of cotton in December, around 28.85 per cent lower as compared to the volume in the same month previous year. However till December the total volume for the calendar year stood 1.48 million tons, the lowest level in last nine years, according to Reuters.

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Govt Procures 15000 Tons of Pulses So Far

As pulses supply is in deficit side, the government is importing the same from the other nation and around 15,000 tons of pulses has been procured so far during the current season, said Food Minister Ram Vilas Paswan.

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U.S Wheat Exports Down-WoW

As per USDA, U.S wheat exports at 2,57,700 MT (for the period 8th Jan- 14th Jan, 2016) were down 53 percent from the previous week and 31 percent from the prior 4-week average. The primary destinations were Japan (118,000 MT), Guatemala (31,700 MT), Mexico (28,900 MT), South Korea (23,900 MT), and the Dominican Republic (22,900 MT).

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U.S Corn Exports Down 10% From Last Week

As per USDA, U.S corn exports reached 10,610,683 metric tons in the 2015-16 marketing year. At 5,71,590 MT (for the period 8th Jan- 14th Jan, 2016) exports were down 10 percent from the previous week and 4 percent from the prior 4-week average. The primary destinations were Mexico (298,400 MT), Japan (125,100 MT), Saudi Arabia (76,500 MT), Colombia (22,900 MT), El Salvador (21,100 MT), Peru (11,000 MT), and Taiwan (6,600 MT).

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India Earns Higher Coffee Exports Revenue By 4.46% In December 2015-DGCIS

As per DGCIS latest report, India received around Rs.401.39 crore as the total coffee exports revenue which is 60.27 million in USD in December 2015. This is higher by 15.26 % in Rs. and 8.59% in USD respectively as against Rs.320.94 crore and USD 55.50 million respectively in the corresponding month of previous year. It stood at Rs.3695.80 crore and the value in USD at 572.24 million since April-2015 to December 2015 up by 4.99% in Rs. however down by 1.45% in USD as against the last year revenue i.e. Rs.3520.19 crore and in USD 580.65 million in corresponding period of time.

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Agri Commodity News Update 22 January 2016

Castor Seed Cash Markets May Dip Below Rs 3000 Per Qtl On Higher Crop SizeCapvision
Castor seed cash market continued to reel under pressure despite good export demand for oil from China, EU and other countries. This year arrival started one month earlier with good volume and quality of seed is in better shape and size. It indicates better yield from incoming crop. At peak arrival time castor seed may trade below Rs 3000 per qtl.Regional conference on castor seed due on 24th January-2016 at Palanpurmay provide actual crop size this year. Agriwatch expects over 15 lakh tonne production this year and it would pressurize cash market at least for two quarters. Overall outlook remains bearish.

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Maize Market Reels Under Pressure On Reduced Demand From Consuming Industries
Pressure on maize prices continued with higher arrival from newly harvested crop and lower demand from major consuming industries.Maize in various markets slips in the range of Rs 10 to Rs 20 per qtl and is being traded at Rs 1645 to Rs 1650 per qtl. in Delhi. cash market may continue to trade under pressure due to weak global market. Due to disparity export volume too is almost negligible. If prices decrease in domestic market and maize price in global market increases,export may start in limited volume.

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US Imports Wheat From Argentina First Time For Feed Use

Argentina Started exporting wheat to US first time in bulk volume due to cheaper availability of wheat in lacal markets of Argentina. US importer would use this wheat for cattle feed. Notably,Argentina has scraped export tax and devalued its currency by around 25 % and all these developments have made Argentina very competitive now. Wheat exported volume to US may cross one lakh tonne in next two months.

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Cotton Output To Fall By 20% In Andhra Pradesh
Cotton production in Andhra Pradesh is likely to fall by around 20% in the current season to 22.18 lakh bales as compared to the 27.51 lakh bales a year ago, according to the second advance estimates released by the State Agriculture Department. However according to the cotton association of India, cotton production in the state would be around 26 lakh bales.

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Agri Commodity News Update 21 January 2015

dfsfgLentil Acreage Stands Lower by 10% this Rabi

According to latest report released by Ministry of Agriculture, Lentil area till date (as on 15.01.2016) was registered at 13.40 Lakh Ha which was around 10.6% lower than the last year in the corresponding period. Last year it was 14.99 Lakh ha.

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Urad Acreage Stands Same As Previous Year: MoA

According to latest report released by Ministry of Agriculture, Rabi Urad area till date (as on 15.01.2016) was registered at 7.47 Lakh Ha which is around 0.5% higher than last year in the corresponding period. Last year it was 7.43 Lakh ha.

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Peas Sowing Progress Lagging By 5% Countrywide

According to latest report released by Ministry of Agriculture, Peas area till date (as on 15.01.2016) was registered at 9.75 Lakh Ha which was around 5.1% lower than the last year in the corresponding period. Last year it was 10.27 Lakh ha.

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Informa Economic Raises 2016 U.S. Soybean Planting Area to 85.23 Mn Acres

Informa Economics has raised its 2016 US soybean planting forecast to 85.23 million acres from 84.537 million in December.This indicates likely record US soybean production in 2016.

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Agri Commodity Market News Update 20 January 2015

India Exports 490 Tonne Wheat At An Ave Price Of $335.36 Per T

Wheat export parity is not in favour of India and export volume is almost negligible  at this point of time.Huge gap in FoB quotes($50 to 60 per tonne) remains restrictive for the  Indian exporters.India exported only490.2 tonne wheat at an average price of $335.36 per tonne during the week ending 17th january-2016.The highest and the lowest average prices realized during the week were $438.7 and 4279.82 per tonne.There was no import registered last week.

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Cotton Arrivals Lag Due To Farmers Stock Holding

According to the Cotton Association of India (CAI), cotton arrivals are standing lower this year as compared to the previous year. CAI said that, as farmer are holding back their produce in the anticipation of better prices in future, cotton stocks has not been liquidated in the market resulting in the lower arrivals.
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Uzbekistan To Cut Cotton Production by 10% In Next Five Years

Uzbekistan, the fifth major cotton exporter would lower down its cotton production by 10 percent in the next five year due to the lackluster prices and lower export demand. the country is likey to cut its cotton production to 3.0 million tons by 2020 from 3.35 million tons in 2015. Besides the weaker price and exports, the factor which is making cotton less lucrative is the encouragement by government to grow to food grain.

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Pakistan Witnesses Shortfall of 33.5% In Cotton Output Y-o-Y

According to the Pakistan Cotton Ginners Association, the country has produced around 9.475 million bales of cotton during this season, around 33.5 per cent lower as compared to the 14.251 million bales previous year.

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Agri Commodity News Update 13 January 2015

Coriander Sowing Updateimages-2.jpg

In Gujarat, as on 11-01-2016, Coriander sowing has been completed in 79300 hectares. In Kutch, area total 6600 hectares, Saurashtra regions 70800 hectares reported. Highest area reported till now Junagadh district 33600 hectares.

Soybean Crop Condition Improved to 30% vs 43% in Mato Grosso, Brazil

IMEA, the private farm institute, reported that the 30% of the 2015/16 soybean crop of top Brazil’s soybean growing state of Mato Grosso is in bad condition, the crop condition improved from 43% in December.

IMEA has forecasted Mato Grosso’s soybean production at 27.8 million tonnes, which dwon from 28 million estimated in December. Deficit rains in November over the state when the crop was under the development phase. The precipitation in the state improved in late December and early January when the harvesting just commenced.

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Indian Rice Procurement May Pass 32 MT in 2015-16

 

Government’s rice procurement in MY 2015-16 may surpass last year’s level of 32 million tons despite prospect of lower production due to deficient monsoon. Rice procurement has risen by 31 per cent to 20 MT so far in the 2015-16 marketing year that started from October, from 15.29 MT in the year-ago period.  At present, procurement has been completed in Punjab and Haryana, while the operations are in full swing in Uttar Pradesh, Chhattisgarh, Andhra Pradesh and Telangana. As per the latest data, rice procurement in Punjab rose to 9.34 MT in 2015-16 from 7.78 MT in the last year. Similarly, rice purchase in Haryana increased to 2.85 MT from 2.01 MT in the review period. Rice procurement in Andhra Pradesh has more doubled to 1.2 MT so far this year as against 5,58,573 tons in the year-ago period, while neighbouring Telangana state procured only 9,07,180  tons as against 1.28 MT in the corresponding period last year. In Chhattisgarh, the procurement was up at 2.53 MT from 1.56 MT, while in Uttar Pradesh the purchases rose to 1 MT from 6,05,000 tons from last year. Rice procurement in Odisha increased to 7, 36,945 tons so far this year from 1, 59,793 tons in the year-ago period.

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Castor Seed May Continue To Trade Lower

 

Castor Markets traded mixed last week.  Any major recovery is unlikely to continue. New crop started hitting the market and it would build up pressure on cash market. Agriwatch expects market to stay steady to slightly weak this week as supply is higher than demand. Old stock are being used for crushing and buyers are unwilling to buy new crop as current prices..

Medium term (Feb-March) outlook remains weak. Market may touch 3000 level in March –April-2016.  Major stock holders, sensing the weak tone and good production prospect, have started releasing old stock. New arrival and release from major stock holders would continue to drag market down in coming weeks.

Higher area coverage and normal demand for oil from overseas market may restrict one way bull- run .Production prospect is good and stock is ample. Expectation of early arrival too may weigh on market fundamentals. 

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Abnormal Variation In Temperature May Reduce Wheat Production By 5 to 6 % This year

 
Weather condition for wheat crop is not normal in various wheat growing states in India and higher than normal temperature can affect normal yield of wheat crop in Punjab,Haryana and Madhya Pradesh.Lower area coverage in Uttar Pradesh,Madhya Pradesh,Gujarat and Maharashtra has already raised fear of lower production.If temperature continue to hover above normal,it would further reduce the crop size.
Sunshine in day could help in photosynthesis and increase the threat to wheat from fungus (yellow rust) strike.Variation in temperature after rain could also affect the maturity of the grain, resulting in lower yield across the region.If temperature continues to be above normal level, production may dip by 5 to 6 % from normal this year.The temperature during this season is fluctuating between 3°C and 23°C, while it was between 1°C and 17°C last year during this period
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Agri Commodity News Update 11 JANUARY 2015

Total Coffee Exports Of The World Inched Up By 2.3% In November 2015
According to ICO, total coffee exports of the world is reported 2.3% higher to 8506 thousands 60-kg bags in November 2015 against 8317 thousands 60-kg bags in November 2014 followed by Arabica coffee exports volume i.e. 5705 against 5096 thousands 60-kg bags and Robusta coffee exports volume which is recorded 13% down to 2801 thousands 60 kg bags from 3220 thousands 60-kg bags.

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Castor Seed Arrival From New Crop In Mahesana Registered 1200 Bags
New seed arrival in Mahesana was registered at 1200 bags and it is likely to increase in the forth week of January. Seed quality is good and yield is expected to increase this year.Buyers are not interested at current price and they expect more decrease in the weeks ahead.There is limited buying selling activities in mandis. However,oil export continues with good pace and major jor stockiests are supplyiong seed to plants from old stock and want to consume old stock as soon as possible as crop size would be higher this year.

Rajkot castor futures March contract continued to trade sideways. Buyers /sellers remained active during full trading session.Castor Seeds ready price quoted at 3,540.00 per quintal compared to the previous closing price of 3,535.00 per quintal.It traded higher at Rs3540 and lower at Rs 3490 per qtl

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China’s 2015/16 Soybean Imports to Rise by 2.1%, Lowest Since 2011/12
China the largest soybean importer is expected to purchase 2 million tonnes more in 2015/16 at 80 million tonnes, up 2.1% compared to 2014/15 on likely higher crushing demand in the new marketing season, said China National Grain and Oils Information Center.
China imported around 78.36 million tonnes of soybean previous season, i.e. between October and September.
The projected growth of 2.1 percent is the lowest since 2011/12 as the country’s overall economy is slowing.
The rise in demand is cited due to higher than expected demand for soy meal due to rise in China’s hog stocks.
However, the projected growth of 2.1% is the lowest since 2011/12 due to sluggish Chinese economy.
China’s rapeseed meal production is expected to ease 3.7% in 2015/16 from last year and cottonseed meal is likely to fall by 18% year-on-year, CNGOIC.

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FCStone Slashes Brazil’s Soybean Forecast, Informa Keeps it Unchanged
FCStone has slashed 1 million tonnes of their forecast for Brazil’s 2015/16 soybean crop to 97.8 million tonnes followed by initial losses on yield output due to dry weather condition in the key soybean growing areas in November and December.
However, Informa has kept its Brazil’s soybean forecast of 2015/16 unchanged at 101.4 million tonnes.

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Soybean Harvesting Commences in Brazil
Soybean harvesting has commenced in Brazil, initially in the top growing states of Mato Grosso and Parana with farmer’s concern on output followed by incessant rains which damaged the crop in the center-west region.
The harvesting is around 1% complete in Mato Grosso which is behind same period last year.
Mato Grosso is expected to harvest 28 million tonnes while Parana to harvest 18.1 million tonnes. Overall, Brazil is likely to harvest around 100 million tonnes.

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