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
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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
The government has raised the base import prices of all edible oils by $82-$102 per tn, the Central Board of Excise and Customs said in a notification. The government has set the limit for sale of sugar by mills at 2.20 mln tn in April, up from 2.15 mln tn set in March, according to Read More
Commodity bourse NCDEX on Monday said it has temporarily suspended trading after a minor fire broke out in the basement of its headquarters at the Akruti Corporate Park on Kanjur Marg here. The trading on the NCDEX, the second largest commodity bourse, was halted at 12.19 hours after due intimation, it said. “There is minor Read More
The US Department of Agriculture’s Foreign Agricultural Service expects India’s cotton production in 2022-23 (Aug-Jul) to increase 4% to 27.7 mln bales (1 US bale = 218 kg) because of likely higher acreage under the crop on the back of a normal monsoon forecast this year. The Centre has set a target to export 7 Read More
The US Department of Agriculture’s Foreign Agricultural Service expects India’s cotton production in 2022-23 (Aug-Jul) to increase 4% to 27.7 mln bales (1 US bale = 218 kg) because of likely higher acreage under the crop on the back of a normal monsoon forecast this year. The Centre has set a target to export 7 Read More
India is racing to bolster its wheat export infrastructure as the Russia-Ukraine war has led to record shipments of the grain from the country and the demand is still pouring in. India’s maize exports in Apr-Jan rose to an all-time high of $816.31 mln due to strong demand from key export destinations like Bangladesh, Vietnam Read More
Indian traders have signed a deal to sell around 50,000 tn wheat to Tanzania at $370 per tn, free on board, sources in the know of the development said. The revenue of the Indian poultry industry is expected to rise 5-6% in 2021-22 (AprMar) compared with the 2-3% growth indicated by a sample set of Read More
The selling shareholders include Build India Capital Advisors LLP, Canara Bank, Indian Farmers Fertiliser Cooperative Limited, Investcorp Private Equity Fund I (formerly known as IDFC Private Equity Fund III), Jaypee Capital Services Limited, National Bank for Agriculture and Rural Development, Oman India Joint Investment Fund and Punjab National Bank, it said. The exchange proposes to Read More
The government’s procurement of paddy has reached 72.59 mln tn as of Sunday in the ongoing 2021-22 (Oct-Sep) kharif marketing season, according to an official release. The Indian Council of Agricultural Research has released three new varieties of basmati rice this year. The average price of 25% broken non-basmati rice exported from India rose to Read More
Production of turmeric is likely to decline by 20-25% in 2021-22 (Jul-Jun) due to a drop in yields following heavy rain in key growing states during Sep-Nov. The conflict between Russia and Ukraine may only have a minimal impact on barley prices in India as new arrivals are set to hit the market within a Read More
The guar complex basket was down during the greater part of the week, which ended recently. Approaching November series expiry had attracted short sellers to give deliveries against their holdings, because of which pressure was seen in the derivatives. The primary direction was bullish in the oil complex mainly because of strength in global markets Read More