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Archive for March, 2016

Haryana Govt May Procure 75 Lakh T Wheat News Update 31 March 2016

Haryana Govt May Procure 75 Lakh T Wheat

Haryana government has made all arrangements for the procurement of 75 lakh metric tonne of wheat for Rabi marketing season 2016-17,starting from April-2016. The procurement agencies have also made necessary arrangements for packing material for procurement of 75 lakh MT of wheat. The state government was committed to making payments to the farmers within 48-72 hours of their grains being procured, The Minimum Support Price (MSP) for wheat has been fixed at Rs 1,525 per quintal. As many as 379 mandis or purchase

centres have been set up across the state. The Food and Supplies Department and HAFED would purchase 33 percent each of thewheat in the mandis. Similarly, the Food Corporation of India and the Haryana Warehousing Corporation would purchase 12 percent each, and the Haryana Agro Industries Corporation ten percent of the total arrival of wheat.

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Egypt Buys Wheat From France At $189.2 Per T News Update 31 March 2016

Egypt Buys Wheat From France At $189.2 Per T

Egypt has made an agreement to purchase 60,000 tonnes of wheat from France at $189.2 per tonne, a higher price than the $185.4 per tonne that was agreed to last month.Egypt will begin receiving the supply of grain on 25 April and it will last for 10 days.The French contract is part of a bigger deal that the General Authority of Supply Commodities (GASC) signed in February.The deal included the purchasing of 300,000 tonnes of wheat from France, Romania, Ukraine, and Argentina following an international tender.

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Increasing Red Chilli Supply in Warangal Market after Weekend Put Cap on Prices News 31 March 2016

Increasing Red Chilli Supply in Warangal Market after Weekend Put Cap on Prices

At Warangal market, Red Chilli Teja is trading lower at Rs. 10500-11900 per quintal, down by 0.83 per cent as against previous day. Estimated market supply was at 60000 bags, up by 30000 bags from previous trading day.Red Chilli Wonder Hot is offered lower at Rs. 11400-12800 per quintal, down by 0.78 per cent as against previous day. Red Chilli 341 at Warangal market is quoted lower at Rs. 10700-12600 per quintal, down by 3.82 per cent from previous day’s price level.

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Wheat Production In Punjab May Touch 168 Lakh T-State Govt News 31 March 2016

Wheat Production In Punjab May Touch 168 Lakh T-State Govt

Wheat procurement is set to commence on 1st,April in Punjab and Haryana.However,states are still waiting for the sanction of the cash credit limit (CCR) of Rs20,093 crore by the Centre.Punjab state govt expects168 MMT wheat production this year. Out of total production 120lakh tonne wheat may arrive in various markets of Punjab.Farmers may retain 46 lakh tonne for personal consumption. During the paddy procurement season in October-November last year, the final installment of the CCR was delayed for weeks.

The farmers and commission agents had to resort to agitation to get their dues cleared. The money sanctioned under the CCR is paid to the farmers, labour and others concerned in lieu of the foodgrain procured for the central pool.

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Ukraine rapeseed exports to hit 9-year low News Update 30 March 2016

Ukraine rapeseed exports to hit 9-year low :- Rapeseed exports from Ukraine will fall to a nine-year low next season – potentially boding well for growers in Australia, the only other major exporter to the key European Union market.
Ukraine will export 1.05m tonnes of rapeseed in 2016-17, a drop of 25% year on year, the US Department of Agriculture’s Kiev bureau said, in its first forecasts for next season.
The drop, which reflects the dent to sowings from poor weather and the lure to farmers of other crops, leaves Ukraine’s shipments forecast to hit their lowest since 2007-08.

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US weather to speed up corn sowings News 30 march 2016

US weather to speed up corn sowings – but bodes ill for wheat :-  US corn sowings, after a slow start, are expected to make better progress as they begin in the key Midwest region – but dryness-pressed winter wheat crops face more of the dryness worrying investors.
The opening stages of the US corn planting period, in southern states, have been hampered by wetness which limited to 8% sowings progress in Arkansas as of Sunday, well below the typical 20% at this time of year, US Department of Agriculture data showed.
In Mississippi – where wetness curtailed seedings to 5%, compared with the average of 29% – one USDA scout reported that “abnormal amounts of rainfall continue to prevent producers from all fieldwork.
“Most corn planted prior to the excess rain will be replanted due to saturated conditions.”
And in neighbouring Louisiana, where “some fields are still under water” after receiving 7-10 inches of rain last week, 36% of corn is seeded, well behind the average of 60%.

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Agri Commodity News Update 26 March 2016

Russian Wheat Export May Reach 23.5MMT Due To Weaker Rouble & Ample Stock

Russia is set to become the world’s second largest wheat exporter in the 2015/16 marketing year, eating into Canadian and the U.S. market share, owing to a weak rouble and a decline in supplies from its main rivals.Russian wheat exports are running at a historically record pace this season, which lasts until June 30, thanks to a large crop of 61 million tonnes in 2015 and the weaker rouble.Global prices are, however, depressed and leading exporters have to compete for a smaller market share due to the oversupply and the 2016/17 season is expected to start with high stocks. Wheat export may reach at 23 to 23.5MMT-Reuters

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Castor Cash Markets Trade Weak Despite 90% Lower Arrival

Castor cash market traded weak  despite lower arrivals in mandis due to holifestival.Fresh trading activities are expected from next week.Arrival decreased around 90 percent as mostly market remained closed. Futures too stayed steady at previous level.About 5,000 bags arrived in Gujarat against 45,000 bags and price decreased by Rs10 to Rs585-605 per 20 kg. At Saurashtra arrival was at 500 bags and price declined Rs5 to Rs580-605 per 20 k.

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South Africa Maize Crop Pegged Down By 32% To 6.77 MMT

South Africa will cut its 2016 maize forecast by almost 7% as late rains have failed to provide enough relief for a crop scorched by drought.Maize is South Africa’s staple food and the price of the white variety, used for human consumption, doubled last year and is pressuring inflation, which accelerated to 7% in February, its highest in seven years, from 6.2% in January

The Crop Estimates Committee (CEC), which will provide its third production forecast for the 2016 crop on March 30, is seen pegging the harvest at 6.77 million tonnes, down almost 7% from last month’s estimate of 7.255 million tonnes and 32% less than last year’s harvest-Source: Reuters

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South Africa Would Receive Above Normal Rainfall, Summer Maize Crop Still Under Stress

South Africa are forecast to receive above average rainfall in the autumn season from April. It is too late to benefit the drought-seared summer maize crop.South Africa experienced its driest year on record in 2015 and record temperatures in January this year as an El Nino weather pattern triggered drought and heatwaves, threatening the staple maize crop among others.

The weather service said that there are “enhanced chances” for above-normal rainfall for the southern hemisphere winter months of June through August in most of the country apart from the central region.Higher than normal rainfall could bring much-needed relief to parched pasture lands and dam levels, which the water minister has said could take more than three years to recover to pre-drought levels.

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Ethiopia To Buy % Lakh T Wheat Through Tender

Ethiopian has issued an international tender to buy around 499,000 metric tons of milling wheat sourced from optional origins as the country continues purchases following a serious drought.The tender closes on March 25.Shipment of the wheat is sought between May and July.Failed rains during spring and summer 2015 have sparked food and water shortages in the country, which boasts one of Africa’s highest growth rates but depends heavily on farming.On Jan. 31, Ethiopia urged international donors to offer aid promptly for relief operations to support 10.2 million people critically short of food.Ethiopia last tendered to buy 70,000 metric tons of wheat in February-Source: Reuters

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