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Archive for February, 2016

Agri commodity news Update 26 feb 2016

U.S Corn Exports For The Period Of 12-18 Feb’16

As per USDA, U.S corn exports reached 14,048,329 metric tons in the 2015-16 marketing year. At 8,70,660 MT (for the period 12th Feb- 18th Feb, 2016) exports were up 19 percent from the previous week and 36 percent from the prior 4-week average.  The primary destinations were Mexico (353,200 MT), Japan (248,600 MT), Colombia (182,300 MT), South Korea (58,100 MT), and Taiwan (11,700 MT).

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Indian Weekly Rice Export Up by 5.6%

Total Rice exported from India in the third week of February was 171893.14 tons out of which basmati rice contribute 46.02%, and non-basmati rice is 53.97% in this period with quantity of around 79106.46 tons and 92786.68 tons respectively as per latest data extract from IBIS. Major importers of Indian Basmati rice in this period were, Kuwait, UAE & Saudi Arabia. We expect Middle East countries to remain the major basmati buyers of Indian Basmati from Mundra, Kakinada and Kandla Port in coming months. Major non basmati importers were Benin, Ivory Coast, & Cambodia. Total rice exported was up by 5.6% from last week export of 162753.4 tons.

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Buying Of Castor Seed At Rs 2800 Per Qtl May Ensure Good Return In 2016

Buyers should start procuring seed around Rs 2800/2900 per qtl for stock purpose. Future prospect for good return seems in the second half of the year. As oil export has been higher than normal pace, almost 80 percent old stock seems to be consumed so far.Major dip from current level is unlikely.

 

Market fundamentals and recent developments hint that the year will remain favorable for castor oil consumers as upside potential is very limited in the short to medium term. Speculators have burnt their fingers and would prefer to remain sidelined in futures if futures contracts are re-launched. Under current condition castor business may revert to fundamental good demand -supply equations

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State Wise Rice Procurement Up So far Despite Lower Production

Government’s rice procurement has increased 21.47% to 26.98 million tons in the 2015-16 marketing year so far despite prospects of lower production due to poor monsoon. The Centre has kept rice procurement target of 30 million tons for the current marketing year, which started in October-2015. These agencies had procured 22.21 million tons a year-ago, while the total purchases had reached 32 million tons. At present, procurement has been completed in Punjab and Haryana which is up by 20% and 41% respectively with quantity of 93.50 lakh tons and 28.60 lakh tons, while the operations are in full swing in Uttar Pradesh, Chhattisgarh, Andhra Pradesh and Telangana. As per the government’s latest data, rice procurement in Uttar Pradesh has risen to 5.97 lakh tons so far this year as against 4.29 lakh tons a year-ago. Procurement in Chhattisgarh increased to 39.72 lakh tons from 33.54 lakh tons, while that of Andhra Pradesh has increased to 25.13 lakh tons from 12.71 lakh tons in 2014. Rice purchase in Telangana was lagging behind at 10.14 lakh tons so far this year as against 15.23 lakh tons in the corresponding period of the 2014-15 marketing year.

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Black Pepper Production Expected Lower Current Year

As per Agriwatch production estimate, due to bad weather condition during flowering stage pepper crop reported damaged. Current year India’s pepper production expected to be around 52,000 – 56,000 tonnes compared to last year bumper production of 70,000 tonnes. Lower production expectations current year may support prices in coming days.

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Agri Commodity News Update 25 feb 2016

Lower Demand Put Cap on Cardamom Prices

Lower demand from domestic buyers and exporters in the spot market drag cardamom prices. Cardamom March future market down to Rs.654.50/- per kgs on Wednesday. Cardamom markets reported inactive as picking continued in fifth phase, lower quality material coming to the market during last picking; planters revealed.

Agriwatch Cardamom (Continuous chart, C1) Monthly call target achieved. As per Monthly Technical analysis, cardamom sell below Rs.650/- per kgs with target1 Rs.610/- per kgs and target2 is Rs.600/- per kgs. Cardamom  lower prices reported Rs.579.9/- per kgs. this month till date.

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Rajkot Castor Futures Eased On Profit Booking

Rajkot Castor seed Futures Closed slightly lower on profit booking and  increasing expectation for higher arrivals with rising temperature in Gujarat maturity process would increase. Castor seed future March-June contracts eased from Rs3101 to Rs 2995 per qtl.Castor Seeds ready price quoted at 3,062.50 per quintal compared to the previousclosing price of 3,050.00 per quintal.

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Red Chilli Reported High in Warangal Market, New Crop Started Coming

At Warangal market, Red Chilli Teja is trading high at Rs. 12000-13100 per quintal, higher by 0.77 per cent from previous trading day. Red Chilli Wonder Hot is offered firm at Rs. 12500-13100 per quintal, higher by 3.97 per cent against previous trading day. Red Chilli 341 at Warangal market is quoted lower at Rs. 13000-14400 per quintal, down by 2.04 per cent from previous day’s price level.

Red Chilli Denvor Delux at Warangal market is offered lower at Rs. 13000-13800 per quintal, lower by 6.76 per cent against previous day. Red Chilli Fatki at Warangal market is trading at Rs. 7000-9500 per quintal, unchanged from previous close.

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Gujarat Provides Fund Allocation For Subsidized Wheat & Rice

Gujarat Finance Minister presented a Rs. 1,51,852 crore budget for 2016-17 while announcing a scheme for wheat and rice for the poor at Rs.2 and Rs.3 a kg respectively.The state would now provide 35 kg of foodgrains per family living below poverty line. The lower middle class too would get the benefit of the scheme and can avail up to 5 kg of foodgrains every month.

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NCAER Pegs Wheat Production At 85 MMT

National Council for Applied Economic Researchhas estimated85 MMT wheat production this year from 2015-16 crop,lower by 1.5 MMT from 2014-15 crop.It is almost 8.5 MMT lower than estimate of 93.82MMT published in Second Adv  Estiamte on 15.02.2016.The NCAER report released in January also said that India might not export any wheat in 2016-17 marketing year. However, because of lower procurement and strong purchases by private traders from October 2015 to March 2016, the total wheat stock in the Central pool might fall to 15 mt by April, which would be 2 mt less than the stocks during the year-ago period.

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Agri commodity news Update 23 feb 2016

Coriander Production Expected Higher Current Year, Agriwatch Estimate

In 2015-16 Coriander production (Agriwatch Estimate) expected increase by around 18 lakh bags (1 bag = 40 kgs) as compared to last year. No major crop damaged reported till now. Sources revealed that, in Madhya Pradesh districts like Neemuch and Mandsour yield little affected due to higher temperature during maturity stage.  However, in major growing state like Rajasthan and Gujarat current year crop reported well, farmers expected good yield.

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Six of Argentina’s Key Farm States Declared Emergency, Soybean Hit Hard

Argentina’s soybean crop conditions are likely to get worse before it gets better on heavy rains in the key grain growing reasons. Rains which were considered to be beneficial for Argentina’s soybean crop reached to the levels which is abnormal.

Six of Argentina’s key farm states are declared flood emergency areas by the government last week.

Argentina’s is expected to receive about 4 – 5 Inches of rains in near-term.

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Castor Seed Arrivals Crosses 35000 Bags last Week

Arrivals of seed have started increasing in all major markets despite lower price.   Pressure would continue to rise as higher arrival is expected in the weeks ahead. Stake holders would prefer to wait for stabilization in the cash market. Market participants say that arrival pace would increase as  small farmers need money for various activities and they will continue to sell.  Arrivals have increased in Patan ,Deesa and Sumerpur. It may expected to touch its peak around mid April.Total arrivals have croseed 35000 bags  last week.

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Castor Seed Ave Price decreases By 3.66 % Week On Week Basis To Rs 2986.38 Per Qtl.

Castor seed all India average price decreased by3.66 % to Rs 2986.38 per qtl week on week basis. It was being traded at Rs 3099.96 per qtl. during the week ended 15th  Feb-2016. More dip from current level is likely as pressure from new crop would increase. However, any steep fall in cash market seems a remote possibility Current average price of seed is ruling lower by 13.79 % from mid Feb-2015.

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Thailand Weekly Rice Export

Unofficial preliminary rice exports (excluding premium white and fragrant rice) for February 8-14, 2016 totaled 132,703 metric tons, up 84,695 metric tons from the previous week and 40,159 metric tons from the four-week moving average of 92,544 metric tons . Rice exports from January 1 – February 14, 2016 totaled 532,658 metric tons, up 24.5 percent from the previous week.

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Agri Commodity News Update 22 feb 2016

Red Chilli Rabi Sowing Update

In Andhra Pradesh, Red Chilli sown during Rabi 2015 -16 week ending 17-02-2016 is 23904 hectares compared to last year 27225 agri commodity tips newshectares. District wise current year area reported 3216 hectares in East Godavari, Prakasam 9427 hectares, Kurnool 417 hectares, Guntur 2120 hectares, Krishna 1122 hectares,  Nellore 1962 hectares.

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Weekly Rice Export From India Down by 1.16%

Total Rice exported from India in the second week of February was 162753.40 tons out of which basmati rice contribute 37.97%, and non-basmati rice is 62.02% in this period with quantity of around 618101.15 tons and 100952.24 tons respectively as per latest data extract from IBIS. Major importers of Indian Basmati rice in this period were, Saudi, UAE & Iran. We expect Middle East countries to remain the major basmati buyers of Indian Basmati from Mundra, Kakinada and Kolkata Port in coming months. Major non basmati importers were Ivory Coast, South Africa and Senegal. Total rice exported in this were down by 1.16% from last week export of 164672.13 tons.

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Zimbabwe Will Buy 5Lakh Tonne Maize From Ukraine

Zimbabwe is now ready to buy 5 lakh tonne maize  from Ukraine  to stave off starvation. Imports from Ukraine will move the country into a safe zone after widespread crop failures were declared a national disaster.Maize supply from Ukraine will make things easy for locals.In addition to 500,000 tonnes of maize coming in from Ukraine, another 115,000 tonnes is to be brought in from neighbouring Zambia.Around three million Zimbabweans are facing hunger after poor rains wiped out crops and at least 20,000 cattle are believed to have died.

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Daily Volumes At RCX Increases 8 Times After Suspension Of Contracts At NCDEX

Daily volume of castor seed at regionalRajkot Commodity Exchange (RCX) has increased considerably after suspension of castor Seed contracts at NCDEX on 27th january-2016. Volumes on RCX have increased to 5,650 tonnes from 1000 tonnes in three weeks. In terms of value, the daily turnover of the exchange has moved up eight-fold, from Rs two crore to Rs 16 crore, during this period.

Currently, there are two exchanges that run castor seed contracts in India.  Several traders  resorted to trade at RCX, which resulted in volumes rising substantially after suspension of NCDEx. RCX is not an electronic platform and runs contract in traditional way. Trading method in regional commodity exchange is traditionally called ‘ring’. It is an open space where sellers loudly offer their stocks and similarly buyers present in the ring area demand for the needed quantity they wish to buy.

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Rajkot Castor Seeds Futures Open Firm

Castor seed future March Contract(Rajkot) firms up in the early trades due to Speculative buying enquiries and plants interest at current level.Castor seed arrivals, in 75-kilogram bag was reported at29,000-0,30,000 versus 0,25,000-0,26,000 Bags.Castor seed ready auction price was seen in rupees 560-0,610 per 20 kilograms.

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Agri Commodity News Update 18 feb 2016

Cardamom Prices Reported Lower Due to Higher Production

Cardamom production (Agriwatch estimate) may up to 24000 tonnes current year as compared to last year 22000 tonnes. Cardamom stocks reported higher in the spot market as production increased from last two year. Production increased in India from last two years due to favourable weather condition in major growing regions.

For more details please visit Agriwatch Spices Report.

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India Sources Cotton Majorily from USA During Week

During the last week (i.e. 08 Feb-14 Feb 2016) India imported cotton from USA, Argentina, Australiindia sorucea followed by Mali and Egypt. The respective volumes these countries exported to India during the week are 0.045 lakh bales, 0.028 lakh bales, 0.024 lakh bales, 0.015 lakh bales, 0.014 Lakh Bales.

 

 

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Bangladesh Stands as Major Cotton Buyer

Major importer of Indian cotton during the week was Bangladesh.bangala According to the data released by IBIS, Bangladesh imported 0.76 lakh bales of cotton from India in the past week (08 Feb-14 Feb 2016). Other major importers were Pakistan, Vietnam, Indonesia and China and their imported volumes were 0.50 lakh bales, 0.21 lakh bales, 0.17 lakh bales and 0.09 lakh bales respectively.

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Cotton Weekly Export Import Updates

India exported 1.794 lakh bales of cotton last week (08 Feb-14 Feb 2016), which was 2.29 lakh bales previous to last week (01 Feb-07 Feb 2016), according to the data released by IBIS and compiled by Agriwatch. Imports on the other hand stood 0.129 lakh bales last week, which was 0.104 lakh bales previous to last week.

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Agri Commodity News 11 February 2016

dfsfgChina Cotton Yield Is Falling, Impacted Production

Cotton yield in China in falling with the rate of 9.3 percent every year, said National Bureau of Statistics. Due to the fall in the yield and acreage, cotton production in China is likely to lag by 5.74 lakh tons in 2015, said NBS. Cotton acreage in country fell by around 10% to 37.99 lakh hectares in 2015.

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Thailand Rice Production is Likely to Down in MY-2015-16

Thailand MY2015/16 rice production is revised down to 15.9 million metric tons which is a decline of 18 percent from last year. This is due to an acreage reduction in off-season rice which is adversely affected by limited irrigation availability. Rice exports totaled 9.8 million metric tons in 2015, down 11 percent from the previous year due mainly to a reduction in parboiled rice exports.

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Monthly Brazil Rice Stocks Decline About 4%

Brazil rice stocks stood at around 110,388 tons in January 2016, down about 4% from around 115,126 tons in December 2015 and down over 50% from around 240,544 tons in January 2015, according to the country’s national grain supplying agency Conab.

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China Remained Major Importer of Indian Cotton Yarn

India exported around 988 lakh Kg of cotton yarn in December 2015 which was distributed in 76 countries. The value of the volume was USD 26.60 crores (approx Rs. 1760 crores). During December, China stood as major cotton yarn export destination of India.

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Agri commodity news update 10 February 2016

India Exports 10,014 T Castor Oil At An Ave Price Of $1193.83 Per T

As prices of oil is ruling lower India has exported 10014 tonne oil last week at an average price of $1193.83 per tonne. Major buyers like China,EU and others are covering their lonf period needs as they are not sure about price. They think it may recover after April. As they are covering their long term demand , they will buy at lesser quantity in in the last phase of second half.This may restrict seed market to recover smartly.

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Castor Seed Market May Recover After April This yimages-2.jpgear

Castor seed markets tardes under pressure on expectation of higher supply in the weeks ahead. However, farmers may retain stock as prices are ruling lower.Oil export is on full swing as major stake holders are releasing stock and till April 90 % of old stock might be sold out.Farmers would not sell at lower level and old stock would end by April . So Agriwatch see recovery in seed market after April. Seed stockiests should buy in the range of Rs 2800 to 2850 per qtl.

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Jeera Futures March Contract Reported high Rs.14315/-qtl, Jeera Crop Damaged in Gujarat

Jeera March future market up by 2.15% (High –14315/Qtl) on Tuesday.
Jeera farmers in Kutch district (tehsil like Anjar, Bhachau and Rapar) revealed that, Jeera crop reported damaged due to Kaliya Zar (locally name). Farmer expected lower yield current year

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Wheat Area Under Durum In MP Increases To 13% In Last Five Years

Area under Durum wheat in M.P. is increasing continuously and the increasing trend may continue as private sector companies demand for durum wheat is growing faster than normal pace.Durum wheat is also known as MAlvi wheat.Durum wheat is being used for making different types of pasta,which is hard and rich in protein.other varieties lacks these quality.

The area under cultivation of durum wheat in MP has increased nearly seven-fold to 13% of the total wheat area from 2% five years ago.Its yiel is higher than sharvati and yield around 55 to 65 qtl. per ha.The milling of other varieties of wheat breaks down the endosperm, resulting in fine, powdery flour that is suitable for baking products such as breads, cakes and cookies.

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Wheat Production Increases By 1% To 24.2 MMT For 2015-16 Season In Australia
As per the latest update by ABARE wheat production in Australia touched 24.2MMT for 2015-16 season.It is 1% higher than the estimate released in December-2015.Its previous 2015/16 production estimate was 23.98 MMT.Higher production in Australia increased global supply and prices decreased to five year’s low.New palnting in Australia would start in April for 2016-17.

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