Author: Updates Ncdex

The southwest monsoon has covered the entire country today, six days ahead of its normal date of Jul 8, the India Meteorological Department said. India is expected to receive normal monsoon rainfall in July at 94-106% of the long period average, the India Meteorological Department said. UK-based Cotton Outlook has revised downward its estimate for Read More

Prices of eggs have skyrocketed to six-month highs in key consuming cities across India due to a spike in cost of rearing broilers, even as demand remains firm. The procurement of paddy by the government in the 2021-22 (Oct-Sep) kharif marketing season was at 86.2 mln tn as on Tuesday, according to an official release. Read More

India received 4.0 mm rainfall yesterday, 46% below the normal weighted average of 7.5 mm, according to data released by the India Meteorological Department. India has received 128.3 mm rainfall since Jun 1, 10% below the normal level of 141.8 mm for the period. Kharif acreage in Madhya Pradesh was down 54.7% on year at Read More

The National Agricultural Cooperative Marketing Federation of India is likely to miss its tur procurement target for the year ending in September, under the price stabilisation fund scheme, an official with the agency said. India received 4.7 mm rainfall, 33% below the normal weighted average of 7.0 mm, according to data released by the India Read More

India received 8.1 mm rainfall in the week ended yesterday, 19% above the normal of 6.8 mm for the period, data released by the India Meteorological Department showed. India has received 105.8 mm rainfall since Jun 1, which is adequate. Even before members of the Monetary Policy Committee convened on Jun 6, Reserve Bank of Read More

The southwest monsoon has advanced to most parts of Madhya Pradesh, Bihar and Jharkhand, the India Meteorological Department said. The Cotton Association of India has revised downward its production estimate for the 2021-22 (Oct-Sep) marketing season to 31.5 mln bales (1 bale = 170 kg), from 32.4 mln bales projected a month ago, it said Read More

The Union Cabinet approved 4.4-8.9% hike in minimum support price of key kharif crops for 2022-23 marketing season. India received 1.3 mm rainfall, 68% below the long period average of 4.1 mm, according to the India Meteorological Department. The India Sugar Mills Association has revised upwards the country’s sugar output estimate for 2021-22 (Oct-Sep) season Read More

Turmeric prices are under pressure on large arrivals followed by limited demand. Demand for new turmeric crop has failed to pick up as expected and demand from overseas market is also reported bleak. Turmeric arrivals across the country was higher during March at 136,424 tonnes, which is three times higher than March 2016 arrivals.

Such revision is applicable in respect of all claims settled out of Trust, wherein settlement is done post the date of revision of such limits Agri-commodity bourse NCDEX on Tuesday said it has increased the maximum compensation limit from its investor protection fund to Rs 5 lakh from Rs 2.5 lakh earlier with effect from Read More

Gujarat has bought 558,636 tn of chana worth 29.22 bln rupees over the last 90 days. The quantity is higher than the amount that was initially proposed due to lower market prices, Raghavji Patel, minister of agriculture, Gujarat, said in an official statement. The southwest monsoon has covered more of the central Arabian Sea, entire Read More

Technically Turmeric market is under short covering as market has witnessed drop in open interest by 3.68% to settled at while prices up 84 rupees. Now NCDEX Turmeric is getting support at 7168 and below same could see a test of 7116 levels, and resistance is now likely to be seen at 7286, a move Read More

Technically Jeera market is under long liquidation as market has witnessed drop in open interest by 1.02% to settled at 9933 while prices down 160 rupees. Now NCDEX Jeera is getting support at 15995 and below same could see a test of 15890 levels, and resistance is now likely to be seen at 16250, a Read More

An Indian company has signed a deal to export 50,000 tn of raw sugar to Iran, the first such deal with the West Asian country in over a year, industry sources said. The government has cleared projects worth 120 bln rupees under the ambitious 1-trlnrupee National Agriculture Financing Facility, a senior government official said. The Read More

Procurement of chana across all key producing states has picked up pace, and the government has so far purchased 752,963 tn of the pulse, an official said. India’s non-basmati rice exports during 2021-22 (Apr-Mar) rose 27.1% on year to $6.1 bln, the Centre said in an official release .

As of Sunday, the Centre has procured 6.92 mln tn of wheat in the ongoing 2022-23 (Apr-Mar) rabi marketing season, according to an official release. Production of natural rubber in Malaysia fell 39% on month to 29,920 tn in February, the Statistics Department Malaysia said in a release. The production in January was at 49,087 Read More

As per SOPA, India’s Soymeal and its other value added products export during March 2022 is 180,884 tons compared to 26.645 tons in March 2016 showing an increase of 578% over the same period of last year. On a financial year basis, the export during April’ 2016 to March’ 2017 is 9,90,155 tonnes as compared Read More

The Centre on Wednesday decided to increase the minimum support price of milling copra by Rs. 550 per quintal to Rs. 6,500 for the 2023 season to boost coconut cultivation. Last year, it stood at Rs. 5,950 per quintal. The support price of “ball copra” has been raised by Rs. 545 per quintal to Rs. Read More

The vegetable oil industry is pinning its hopes on the ongoing peace talks between Ukraine and Russia. If there is a breakthrough, trade could start returning to normal and prices may head for a correction. Exports of agricultural commodities from India have touched a record high of $50.21 bln in 2021-22 (Apr-Mar), up nearly 20% Read More

In view of boiling edible oil prices in India due to ongoing geopolitical tensions between Russia and Ukraine, the Solvent Extractors’ Association of India President Atul Chaturvedi advised all members to refrain from raising maximum retail prices of oilseeds. The International Cotton Advisory Committee has raised its estimate for global cotton prices for 2021-22 (Aug-Jul) Read More

Prices of chana in key markets across India are likely to rise gradually over the next 10- 15 days because of the government’s procurement drive, which was triggered by a recent fall in prices of the rabi crop. The UK-based Cotton Outlook has scaled down its estimate for global production in 2021-22 (Aug-Jul) by 165,000 Read More