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Nagpur Soybean, Soyoil, Soymeal Open-December 31, 2018 Nagpur, Dec 31 (Reuters) – Soyabean and cottonseed oil prices reported strong in Vidarbha region of Western Maharashtra on fresh buying by Vanaspati millers for the festive season amid a firming global trend. Sentiment also improved after palm oil climbed in Malaysian oil market. Notable hike on NCDEX in soyabean oil, the healthy rise in Madhya Pradesh soyabean oil, reported demand from South-based traders and weak overseas supply also fuelled price, according to sources. ***** VIDARBHA MARKETS OILS * Groundnut loose, Groundnut refined, Sunflower refined, Linseed, Rapeseed, Castor and Coconut KP oil ruled steady here in sluggish trading activity. * Traders expect upward trend in Soyabean and Cottonseed oils here. SOYMEAL * Soymeal prices today ruled steady in open market here but demand was poor. SOYABEAN * Soyabean prices firmed up again in Nagpur Agriculture Produce Marketing Committee (A...

Government agencies have procured 238.8 lakh tonnes of rice in the current 2018-19 marketing season so far, with purchase in Punjab and Haryana almost over, according to official data. The rice procurement target for the current season (October-September) has been fixed at 375 lakh tonnes. In the previous year, total rice procurement stood at 381.8 lakh tonnes. Procurement is undertaken by state-run Food Corporation of India (FCI) and State agencies for the central pool to meet the requirements of the food security law. Rice is purchased at the minimum support price (MSP). According to FCI data, rice procurement has reached 113.3 lakh tonnes in Punjab, 39.09 lakh tonnes in Haryana and 22.42 lakh tonnes in Chhattisgarh so far. In Telangana, rice procurement has touched 22.46 lakh tonnes, while in Uttar Pradesh it is 13.28 lakh tonnes, and 10.7 lakh tonnes in Andhra Pradesh so far, the data showed. A Food Ministry official said procurement operations in Punjab a...

The government has extended restrictions on the import of Pulses like Yellow Peas, Green Peas and Kaspa Peas for a period of another three months from January 1 to March 31, 2019. The announcement has been made in a notification by Directorate General of Foreign Trade (DGFT). The move is mainly to encourage the domestic production of Pulses and reduce import dependency. The existing restriction on import of peas is scheduled to end on December 31. In September, the government had extended import restrictions on Peas for a three-month period. India is the largest producer of Pulses in the world. In 2018-19, Pulses production stands at 24 million tonnes, which is marginally up from 23.95 million tonnes in 2017-18. Disclaimer:- The views and investment tips expressed by investment experts are their own. Ripples Advisory advises users to check with certified experts before taking any investment decisions. Best Share Market News, Click Here To Get More News - NCDEX Tip...

Wheat production in India is likely to increase in the current Rabi season as farmers looks to bring more area under the cereal crop in the key producing states. The sowing this season has progressed earlier than the last year in most states including Uttar Pradesh, Punjab, Haryana, and Rajasthan, a trend usually seen favourable for yield of wheat. Punjab and Haryana cultivate are mainstay of wheat procurement for federal food security public system in India. In Uttar Pradesh, the largest grower of wheat among states, the cereal is expected to be sown over 99 hectares compared to 98.4 lakh hectares in the last season. “Higher precipitation has ensured more groundwater this year and soil moisture is also conductive for higher yield,” an official of Uttar Pradesh Agriculture Department said. Farmers in Madhya Pradesh, the second leading grower of wheat, are likely to increase sowing area by 1.5-2 lakh hectares compared to 58 lakh hectares in the last year. Entic...

Indian Sugar Manufacturers Association (ISMA) revised output guidance for the next season from 35 MT to 32 MT and to 31.5 MT if the cane is diverted towards ethanol. The Sugar mills had a forgettable year in 2018 due to record production at a  growth of 59.1 percent which resulted in glut and lower prices. Sugar makers endured misfortunes as costs tumbled to Rs 25 a kg in FY17-18. The minimum selling price has since only improved to a small extent at Rs 29 a kg. Exports were not the answer because global prices too were subdued. Global Sugar prices dropped to below 11 cents a pound in FY17-18. In October, there was a small uptick and touched the level of 13 cents and currently, it is at 19 cents. The annual demand of Sugar in India is around 26 million tonne (MT) but companies produced a record 32.5 MT of the commodity in 2017-18 due to good cane season. Usually, Sugar mills keep some inventory and this year, it got piled up due to low demand. The government a...

It’s been a big year for the companies that sell coffee, but not so much for the growers that supply them. That could start to change in 2019.  Historically low prices for coffee beans in 2018 will likely reduce the incentive for farmers to expand supplies, said Rodrigo Costa, the US-based coffee director for Brazilian trading company Comexim. That could mean a price spurt ahead, analysts say, as major moves within the industry promise to boost consumption worldwide. Coca-Cola, for instance.  Meanwhile, NestleNSE -1.29 % made its third-largest deal in 152 years when agreeing to pay $7.15 billion for the right to market products from Starbucks, which is now expanding in China at a rate of a new store every 15 hours as demand in the world’s second-largest economy booms.  “You can’t have everybody in the chain winning at the same time,” said Lucio Dias, commercial director at Cooxupe, the world’s largest coffee-growers cooperative. “Now, it’s been the time of...

Brent has shed about 20 percent in 2018 following two years of successive growth. Oil prices edged higher on the last trading day of the year on Monday, taking a cue from firmer stock markets, but remain on track for the first yearly decline in three years amid concerns of a supply glut. Hints of progress on a possible US-China trade deal helped bolster sentiment, which has been battered by concerns over a weaker global economic outlook. Brent crude futures - the international benchmark for oil prices - rose 17 cents, or 0.3 percent, to $53.38 a barrel by 0115 GMT. Brent has shed about 20 percent in 2018 following two years of successive growth. US West Texas Intermediate (WTI) crude futures were at $45.52 a barrel, up 19 cents, or 0.4 percent, from their last close. WTI is down nearly 25 percent this year. Crude prices have been closely tracking equity markets during volatile trading for both asset classes last week. "Investors are looking for bargains i...

The breadth of the market favoured the advances with 1129 stocks advancing and 643 declining while 114 remained unchanged. On the BSE, 1152 stocks advanced, 480 declined and 97 remained unchanged. The Indian benchmark indices has been trading on a positive note in this Monday morning session with the Nifty50 adding 29 points, trading at 10,889 while the Sensex was up 80 points and was trading at 36,187. Nifty Metal was up 1.5 percent and was the outperforming sector led by APL Apollo, Hindustan Copper, Hindalco Industries, SAIL, NALCO, JSW Steel, Tata Steel, and Vedanta. From the auto space, the top gainers were Exide Industries, Motherson Sumi Systems, Tata Motors, Eicher Motors, Bajaj Auto and Bharat Forge. From the pharma space, Dr. Reddy's Labs added 1 percent while Glenmark Pharma, Piramal Enterprises and Cadila Healthcare were the other gainers. The top gainers from NSE include Titan Company which spiked 4 percent followed by Sun Pharma, Zee Entertainmen...

The benchmark palm oil contract for March delivery on the Bursa Malaysia Derivatives Exchange was up 0.2 percent at 2,126 ringgit ($514.02) a tonne at the midday break, on course for a third straight session of gains. Malaysian palm oil futures saw slight gains by Monday noon on firm crude oil and US soyoil prices, but were on track to chart a second consecutive year of declines as high stocks and weak demand weighed on prices. The benchmark palm oil contract for March delivery on the Bursa Malaysia Derivatives Exchange was up 0.2 percent at 2,126 ringgit ($514.02) a tonne at the midday break, on course for a third straight session of gains. The market had earlier climbed as much as 0.9 percent to a one-week high of 2,140 ringgit, but later pared some gains on a stronger ringgit and profit-taking, traders said. Trading volumes stood at 8,910 lots of 25 tonnes each at the midday break on Monday. "Palm is borrowing strength from gains in rival oilseeds and the ...