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 hectares. 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.
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.
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.
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.
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.