Posts Tagged ‘Agri Updates’

Centre May Raise Coffee Package to Rs 802 Crores

Hello Friends here we come up with the Latest Agri Commodities updates from various parts of the globe.

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Centre may raise coffee package to Rs 802 cr

Centre may raise coffee package to Rs 802 cr

Centre may raise coffee package to Rs 802 cr:

The Centre is likely to increase the debt relief package for coffee growers to Rs 802 crore, 58 per cent more than the recommendations of Coffee Board, Union minister of law and justice, M Veerappa Moily said.

There are discussions at different stages to work out the package.

The figures of the total loan owed by the coffee industry to banks are Rs 1,700 crore.

The coffee board recommended a scheme for Rs 504 crore.

The coffee growers are in need of an urgent relief package, so as to give them a one-time life line to come out of the crisis.

The coffee industry is continuously facing low productivity due to drought of 2003 and 2004, which have had a domino effect on productivity.

In Other major Commodities Updates we can see how Corn, Soybeans advanced on the Speculation of excess rains which can delay the harvesting of crops”.

Corn, Soybeans Rally on Speculation Rains to Delay U.S. Harvest:

Corn and soyabeans advanced on the concern that higher-than-normal rainfall in parts of the U.S. may raise the risk of yield losses in the world’s biggest exporter of both crops.

Above average rainfall was forecast in producing states, including Iowa, Illinois, Nebraska and Indiana between Nov. 21 and Nov. 25, according to a U.S. Climate Prediction Center report dated Nov. 15.

The four states are among the biggest corn and soybean growing areas in the U.S. Corn for March delivery added as much as 0.9 percent to $4.0925 a bushel in after-hours electronic trading on the Chicago Board of Trade, and was at $4.09 as of 9:58 a.m. Singapore time.

Soybeans for January delivery climbed as much as 1.4 percent to $10.0125 a bushel in Chicago and last traded at $9.9475.

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Food Inflation at 13.7% !!

Hello Friends here we come up with the Latest Agri Commodities updates from various parts of the country.

Food inflation at 13.7%

Food inflation at 13.7%

Food inflation at 13.7%:

The food price inflation went up marginally to 13.7% for the week ended October 31 following an increase in vegetable prices, but the arrival of winter crop is expected to bring down the prices soon.

The built up inflation in the current year, or the increase in prices from the beginning of the current fiscal to end of October, has been strong at 14.4% against 7.67% in the corresponding period last year, data released on Wednesday showed.

This rise has been particularly steep in case of pulses (21.2%), vegetables (54.5%) and potatoes at (127.6%), clearly indicating that poorer segment of the population, who would spend a high proportion of their income on food, would have been hit hard by the increase in the prices.

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In Other major Commodities Updates we can see that wheat production in country is set to increase by 2 million Tonne in 2009-10.

Wheat Production to Increase by 2 Million Tonne in 2009-10:

Wheat acreage and production is expected to increase in 2009-10 rabi season.

A large area, which was not sown under rice due to poor monsoon this year, is expected to come under wheat according to scientists.

Area in central and southern belt will increase as unsown area will come under wheat.

Also, in the Indo-Gangetic plain of the Punjab plain, the Haryana plains, and the middle and lower ganga area will increase.

Rains in the month of September have ensured moisture availability for wheat.

However, the late harvesting of paddy (due to increase in temperature in the last week of October) has delayed sowing of wheat which is a big concern for the agriculture scientist and the farmers.

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Imposition of Addl. Margin on Turmeric

Hello Friends here we come up with the Latest Agri updates in the country.

Imposition of Addl. Margin on Turmeric

Imposition of Addl. Margin on Turmeric

Imposition of Addl. Margin on Turmeric

As per notification & NCDEX Bye laws, Rules and Regulations of the Exchange, in addition to existing margins, special margin of 10% on long side will further be imposed on all running contracts of Turmeric (Symbol : TMCFGRNZM), effective from the beginning of trading day November 4, 2009.

Thus the total special margin on the long side of all running contracts and yet to be launched contracts in Turmeric shall be 20% with effect from November 4, 2009.

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In Other major Agri Updates we can see that Corn, Soybeans have Dropped as rally to One-Week High may erode Demand whereas Strong Demand has kept Cardamom firm.

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Corn, Soybeans Drop as Rally to One-Week High

May Erode Demand :

Corn and soybeans declined for the first time in three days on speculation that their rally to one-week highs may reduce demand for U.S. supplies.

Wheat climbed. Corn gained 6.6 percent the past two days and the oil-seed rose 3.5 percent after wet, freezing weather delayed Midwest harvests last month.

As well production in the U.S. may be curbed by above factors. USA is the largest grower and exporter of both crops.

The U.S. Department of Agriculture will update its crop forecasts on Nov. 10.

The soybean crop will reach 3.325 billion bushels, less than the Oct. 7 forecast of 3.411 billion, the Linn Group said.

Last month, the USDA predicted a record 3.25 billion bushels, up from 2.967 billion collected in 2008.

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In another Update,

Demand keeps cardamom firm :

The average cardamom prices vacillated between Rs 670 and Rs 710 a kg during last week at auctions held in Kerala and Tamil Nadu and good demand despite heavy arrivals.

In fact, the arrivals at the KCPMC auction on Sunday at Vandanmettu were the highest with 75 tonnes, ever since the commencement of e-auction in December 2007.

Buyers both domestic and export were active.

Around 35 to 40 tonnes of cardamom was bought by exporters. North Indian buyers were covering for their requirements for the winter.

They were actively buying on the apprehension that the prices might go up further in the coming days due to a likely squeeze in supply once the peak harvesting season gets over.

The weighted average price as on November 1, 2009 stood at Rs 681.11 a kg as against Rs 593.83 a kg on the same day last season.

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Next window for N-E monsoon from Oct 27 to Nov 4


Lets Get to know of the latest Agri updates in the country πŸ™‚

Next window for N-E monsoon from Oct 27 to Nov 4

Next window for N-E monsoon from Oct 27 to Nov 4

Next window for N-E monsoon from Oct 27 to Nov 4:

The next window for the North-East monsoon over the Bay of Bengal and adjoining peninsula is likely to open up during October 27 to November 4 in what is an unusually delayed onset this season.

The US National Centres for Environmental Prediction sees the south-central and adjoining south Bay of Bengal and peninsular India being brought under wet cover during this period.

This too is expected to happen around October 27, another reason why the nearly contiguous Bay of Bengal should be able to breathe free to get the northeast monsoon going.

Meanwhile, India Met Department satellite pictures showed cloud build up along the equator and a northwest-to-southeast banding of clouds over northeast Bay of Bengal.

These patterns were being attributed to the `pull’ effect of Super Typhoon Lupit.

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In Other major Agri Updates we can see that Wheat futures has hit the upper limit and has risen 4 per cent on short covering:

Wheat futures climbed 4 per cent to hit the upper limit on the Multi Commodity Exchange today on the back of covering-up of short positions by traders amid good demand in the spot market.

At the MCX, wheat for delivery in December contract shot up 4 per cent to hit the upper limit at Rs 1,320.80 per quintal in a turnover of 11 lots.

Besides covering-up of short positions, firming trend in wheat at spot markets following demand against tight supply mainly pushed up wheat prices at futures market.

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Wheat futures hit upper limit, rises 4 per cent on short-covering: