#Agri Mandi Traders

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[livemarketrate]

Anaj Mandi Bhav: The Price List of Crops and Helping Hand for the Farmers and Traders

Anaj Mandi Bhav or the Mandi rates of crops gives the exact prices of grains in the agricultural markets of India. These markets are popularly known as ‘Mandi’ which are controlled by the state Governments under the Agricultural Produce Marketing Committee. As the production volume, demand, as well as quality of the crops, varies from one state to the other, Anaj Mandi Bhav also differs from state to state.

Anaj Mandi Bhav is the daily rate of the crops and it changes every day. If one studies the Anaj Mandi Bhav of a particular crop for a week or a month. He/she will get an idea of the changes in the rate for a specific period. Another merit of the Anaj Mandi Bhav is that it gives the rates of the crops of the specific Mandis of a state. Therefore, the prices of crops are known on the different Mandis of the states.

Anaj Mandi Bhav is a great source of information for agricultural researchers as well as farmers and future farmers. The research scientists get the rise or fall of prices of crops over a period or according to the cropping season. On the other hand, the farmers also get a clear idea of their income by studying the Anaj Mandi Bhav.

Another interesting fact about the Anaj Mandi Bhav is that it guides those farmers who want to start farming but yet to decide on the kind of crop. By studying the Anaj Mandi Bhav, he can get the idea of the prices of different crops and hence get to know how much profit he will gain from which crop. In the case of a beginner starting cultivation of a crop, the Anaj Mandi Bhav is a good indicator of the profit margin of a particular crop.

Anaj Mandi Bhav has put an end to the word of mouth speculations about the prices of crops. It gives an area-specific price of each crop daily and hence there is no room for any misguidance by people with a vested interest. Anaj Mandi Bhav is an accurate system and easily available to the farmers through SMS or Mobile Apps apart from the digital rate-chart at the Mandis.

Anaj Mandi Bhav includes the daily prices of crops like Paddy, Wheat, Millets, Lentils, Chickpea, Grams, Mustard, Oilseeds, Cotton, different kinds of fruits and vegetables grown in the fields of India. It is a great database for all the people related to agriculture and agri-business. Anaj Mandi Bhav is a great effort to make everyone aware of the prices of the crops in different parts of India.

Anaj Mandi Bhav is a great statistical base of the prices of different crops. For example, the price of chana or chickpea per quintal is lesser in Rajkot or Junagarh than in Kolkata. This statistics is beneficial not only for the scientists but also for the traders as well as the farmers.

Recently, there has been a trend of organized scientific farming, wherein a person or a company buys a large plot of land and cultivate it with modern equipment as well as seeds, fertilizers, pesticides etc. Anaj Mandi Bhav gives them a great direction in calculating their return on investment. By studying the Anaj Mandi Rate for a considerable period, they will get the idea of the prices of crop/s they have selected for their farm and this will help them plan their financials accordingly. Anaj Mandi Bhav is the indicator and directing force for all those who are related to agriculture and agri-business. It is the first of its kind where they will get the accurate price of the crops rather than depending on unconfirmed sources.

[thelegalleopard]

Explained: Are New Farm Bills Anti-Farmer? All You Need To Know

On Sunday the Parliament gave nod to three farm Bills by passing them in Rajya Sabha. The three Bills – The Farmers (Empowerment & Protection) Agreement of Price Assurance and Farm Services Bill, The Essential Commodities Act (Amendment) Bill and Farmers’ Produce Trade and Commerce (Promotion and Facilitation) Bill – will now become a law as soon as President Ram Nath Kovind gives his assent.

For better understanding let’s peak into the bills and their major points of contentions.

1. The Farmers (Empowerment & Protection) Agreement of Price Assurance and Farm Services Bill: It draws a framework for contract farming agreement between farmers and buyer before sowing of a crop and for dispute settlement prescribes three level mechanisms – the conciliation board, sub-divisional magistrate and appellate authority. However, the points of contention are:

a) Under this law it’s not mandatory for a company to make a written contract with the farmer for any contract farming. So, even if the company violates the terms of the contract, the farmer cannot prove it.

b) It does not have any provision to penalize companies which do not register their contracts. For eg: Last year, Potato farmers from Gujarat witnessed a big issue where Pepsico attempted to penalize potato farmers for growing the same seed varieties. The farmer organizations finally had to knock on the doors of the court and agitate to get justice.

c) Bill does not prescribe or specify that contract price of the crop should be at least equivalent or above the MSP. It means the contractor/companies can pay whatever price they want to the farmer. India’s experience of the contract farming has been poor with farmers getting very low rates through contract farming as compared to selling it in government mandis on MSPs (Minimum Support Price).

2. The Essential Commodities Act (Amendment) Bill: It empowers the Central government to regulate food items in extraordinary circumstances or impose stock limits if there is a steep price rise. However, the points of contention are:

2. The Essential Commodities Act (Amendment) Bill: It empowers the Central government to regulate food items in extraordinary circumstances or impose stock limits if there is a steep price rise. However, the points of contention are:

a) Till now only farmers, farmer cooperatives and Farmer Producer Organisations didn’t have any limit or restriction for stocking, producing or selling their crop. As a result, they take conscious decision of selling their crops only when the market or the buyer is offering good price for the crop. So, under this bill the farmers are not getting any new freedom. On the contrary the government is now removing all the foodstuffs from this category allowing companies and traders to store as much quantity of food as they want which amounts to promoting hoarding.

b) Through this Amendment the government is giving up its power to prevent hoarding and controlling price inflation. According to the law, government can intervene only if there is 50% price rise over previous year’s price in case of non-perishable goods and 100% price rise over previous year’s perishable goods.

3. Farmers’ Produce Trade and Commerce (Promotion and Facilitation) Bill: It allows intra-state and inter-state trade of farmers produce beyond the physical premises of Agricultural Produce and Livestock Market Committee (APMC) markets. State will be now prohibited from levying any market fees or cess outside APMC areas.

a) The government says that now the farmers will have freedom to sell to anyone. Under the bill, the agri-business companies, corporate and traders will be allowed to open their own markets to purchase from farmers. However, the biggest fear coming from this is that it will destroy the level playing field between the APMC markets and other traders. Under the bill, the trade outside the APMC Mandis is virtually unregulated.

b) Farmers were demanding that in case the government is allowing, new set of farm markets to come up; the state and local government should be given power to oversee their functioning and also regulate them. However, the demand has been ignored.

c) Presently if the farmers feel the traders/corporate/agents working inside the APMC Mandis are involved in any unfair practices, they could complaint to the APMC Officers located in the yard itself. However, with the new Bill, in case of any disputes, farmers would be required to go to a sub-divisional magistrate court – which is beyond the capacity of small farmers to pursue given their financial constraints.

[the24times]

"A watershed moment in the history of Indian agriculture!", tweets Prime Minister @narendramodi as the Rajya Sabha today passed two key agricultural bills The Upper House Sunday passed through a voice vote two key agricultural reforms bills, which have been opposed by farm groups, even as the opposition protested On Thursday, the Lok Sabha passed by a majority voice vote the Farmers’ Produce Trade and Commerce (Promotion and Facilitation) Bill, 2020, and The Farmers (Empowerment and Protection) Agreement on Price Assurance and Farm Services Bill, 2020. India’s agricultural trade still requires licenced traders who must operate out of notified markets allotted to them. The bills aim to sidestep this system, called agricultural produce market committees (APMC), and free up market restrictions. But critics argue the new system will lack adequate oversight in its current form. The Farmers’ Produce Trade and Commerce (Promotion and Facilitation) Bill, 2020, allows buyers of farm produce to trade outside the mandi system or wholesale markets run by states under APMCs, which have become cartelised over time. APMC laws require farmers to only sell to licensed middlemen in notified markets, usually in the same area where the farmers reside, rather than in open markets, which economists say scuttles price discovery, hurting farm profits. The bill enables farmers and buyers of their produce to trade outside these markets without any taxes and will therefore open up APMCs to competitions. The Farmers (Empowerment and Protection) Agreement on Price Assurance and Farm Services Bill, 2020, lays down a new architecture for contract farming. It provides for a national framework on farming agreements, enabling a farmer to engage with agri-business firms, processors, wholesalers, exporters or large retailers for sale of future farming produce at a mutually pre-agreed price. Major farmers’ organisations, such as the Bharatiya Kisan Union and the umbrella All-India Kisan Sangharsh Coordination Committee, a front for nearly 200 farmers’ groups, have opposed the bills. Source: #hindustantimes #Agriculture #farms #farmers #FarmersBill #AgriculturalBills #The24Times (at India) https://www.instagram.com/p/CFWxRt4FF_k/?igshid=ao937fxootsx

[bigyack-com]

Only Rs 10 crore of Rs 2,000-crore farm fund used in two years - india news

A ~2,000-crore fund to set up a chain of modern markets for farmers, announced in the Union Budget 2018-19, has largely gone unspent in what experts see as a sign of how overregulated agricultural markets have kept farmers chained to outdated policies.These markets, essentially village-level bazaars, were meant to act as aggregation points for farm produce, where farmers and traders could transact freely with minimal rules. The aim was to provide an alternative to existing supply chains that are rigged by middlemen and, as a result, drive down farmers’ share of profits.Data accessed by the HT shows that nearly two years since its announcement, only a negligible amount -- ~10.45 crore, or just 0.5% of the allocated money -- has been utilised. This amount has been spent on developing 376 of the proposed 22,000 markets. However, no facility is yet ready for use.The Union budget 2018-19 allocated a dedicated ~2,000-crore fund known as the Agri-Market Infrastructure Fund (AMIF). Newly developed markets under the programme were to be known as Gramin Agricultural Markets or GRAMS.A key feature of the new markets would be that these would be free from the control of Agricultural Produce Market Committees (APMCs) so that farmers and food traders could sell and buy freely.Experts said they were not surprised that another effort to reform agricultural marketing was facing problems.“Attempts to reform agricultural marketing have been fragmentary and therefore failed to give satisfactory results. One example is that the model Agricultural Produce Market Committee Act 2003 has not been universally adopted by all states. Traders and commission agents as well as locally influential people often have a vested interest in keeping a tight control over mandis,” said KS Mani, an economist with the Tamil Nadu Agricultural University.Agricultural marketing in India is a complex system, with a mix of organised and unorganised markets. Farmers mainly sell in mandis, which are state-run market yards known as agricultural produce marketing committees or APMC. There are about 585 such highly regulated APMCs in 16 states and two Union Territories.Ushered in the 1960s, APMC regulations require farmers to sell only to licenced middlemen in notified markets, usually in the same area as the farmer, rather than directly to buyers elsewhere.These rules were originally meant to protect farmers from being forced into distress selling. Over time, they have spawned layers of intermediaries, spanning the farm-to-fork supply chain. This has resulted in a large “price spread” or the fragmentation of profit shares due to lots of middlemen, leaving farmers at a loss.“Messy land titles, involvement of multiple departments and organisations at the state-level, title of ownership of land of existing markets are some of practical hurdles that we have run into,” an official with knowledge of the matter said.Such problems have hobbled reforms in “agricultural marketing”, a jargon for the country’s mandi system that controls buying and selling of farm produce. A lack of these reforms is likely to keep farmers poorer than they would have been in a free-trade system, experts say.In 2016, PM Narendra Modi had declared his government would double farmers’ income -- in other words, raise incomes by 100% -- in six years by 2022-23.“Without marketing reforms and removing significant trade barriers, how is it possible to double farmers’ income?” asked KS Mani.India is currently a net exporter of agricultural products and, globally, the seventh largest exporter, according to the Food and Agricultural Organisation. Yet, according to the government’s Doubling of Farmers’ Income Report, 2017, the average income of an agricultural household during July 2012 to June 2013 was as low as ~6,426 against an average monthly consumption expenditure of ~6,223. Farmers can profit when they have ready access to markets. According to the agriculture ministry’s guidelines issued for the now languishing Agri-Market Infrastructure Fund on March 9, 2019, the proposed upgraded markets would have “substantially enhanced market accessibility” for socially disadvantaged Scheduled Caste and Scheduled Tribe farmers. Some of the blame for the lack of progress must go to scheme’s design, experts said. The money for physical infrastructure was to have been utilised from the Mahatma Gandhi National Rural Employment Gurantee Scheme. “States have shown a reluctance to increase their loan portfolio,” the official cited above said. The National Bank for Agriculture and Rural Development, which administers the ~2000 crore fund, did not officially respond to the HT’s queries addressed to chief general manager Sunil Kumar. Read the full article

[onlevelup01]

Congress argued that the abolition of APMCs — agri-mandis—will benefit agri-traders rather than farmers and that the government is trying to wriggle out of its commitment to procure foodgrains at their minimum support prices from Food Corporation of India. from India News | Latest News Headlines & Live Updates from India - Times of India https://ift.tt/35L725t

[ecoorganic]

House plan: Congress to oppose 4 ordinances

Congress argued that the abolition of APMCs — agri-mandis—will benefit agri-traders rather than farmers and that the government is trying to wriggle out of its commitment to procure foodgrains at their minimum support prices from Food Corporation of India. from Times of India https://ift.tt/35L725t from Blogger https://ift.tt/2Fwl4N2

[newslegendry]

Congress argued that the abolition of APMCs — agri-mandis—will benefit agri-traders rather than farmers and that the government is trying to wriggle out of its commitment to procure foodgrains at their minimum support prices from Food Corporation of India. from Times of India https://ift.tt/35L725t

http://newslegendry.blogspot.com/2020/09/house-plan-congress-to-oppose-4.html

[vinayv224]

House plan: Congress to oppose 4 ordinances

Congress argued that the abolition of APMCs — agri-mandis—will benefit agri-traders rather than farmers and that the government is trying to wriggle out of its commitment to procure foodgrains at their minimum support prices from Food Corporation of India. from Times of India https://ift.tt/35L725t from Blogger https://ift.tt/2ZAPEwe via IFTTT

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Congress argued that the abolition of APMCs — agri-mandis—will benefit agri-traders rather than farmers and that the government is trying to wriggle out of its commitment to procure foodgrains at their minimum support prices from Food Corporation of India.

[amitbchoudhury]

Reforms, a push for corporate takeover of agriculture: AIKS

Reforms, a push for corporate takeover of agriculture: AIKS

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Farmer organisations have described the agri reforms announced by the government on Wednesday as an attempt to facilitate corporate takeover of Indian agriculture and said the measures will no way solve real problems of farmers in the country.

“Allowing traders and big buyers to buy produce outside the notified mandis directly from farmers would mean that the produce would be purchased…

[mi95aman]

Protest against farmer welfare fees, agricultural produce mandis and mill closed for 5 days

Protest against farmer welfare fees, agricultural produce mandis and mill closed for 5 days. #Covid19

Jaipur | All 247 agricultural produce mandis and about 2,000 flour, pulses and oil mills in the state have been closed for five days in protest against the imposition of two per cent farmer welfare fees on the sale of agri commodities.

Commodity traders have warned to close the business indefinitely if the new tax is not withdrawn. It is well-known that the Agricultural Marketing Board has…

[jhasravi]

BORN IN INDIA I SERVED FROM INDIA I TO THE GLOBE

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Dated:  25.04.2020

Important Measures taken, opportunities & revamp required in India amid COVID-19 & post lockdown

We face the greatest challenge at the start of the millennia right here right now. These are very challenging times & needs very strong & resonating decisions to ride the waves of pessimism & uncertainty to overcome collectively. The mood of the business & the Govt. is worry some; of course there is a reason to be so however there is no ESCAPADE from this crisis.

This crisis has certainly forced most of us to see at things in a different way & going forward Digitization of Businesses & processes will even be more critical & mandatory for the Government as well as Corporates, MSME’s & small Businesses.

I have few suggestions which the Government may consider implementing in the short & long term basis to revive the business sentiments & minimize job losses any further across Industry

Confirmed Tax Breaks for a period of 6 Months or at least deferred Tax payments – Agriculture, Manufacturing & Services

Revise the interest on the late payment charges on direct & indirect tax deposits- burdened industry will have a respite

Government should revise the incentives or sops for promoting Exports rather than curbing during this pandemic as it opens up bigger opportunities for Indian manufacturers in the overseas market- Putting a carpet ban on the exports of Masks, Sanitizers, PPE or Coveralls etc. is a classic example of short sightedness of the Policy makers

Set up product wise special manufacturing zones across India and incentivize the investing company by granting approvals through single window within a defined time period and with a conditionality of engaging min 40-50% work force from the local area or vicinity- to minimize the migration of skilled and unskilled work force from one region of India to the other

Spending on R&D has to be boosted under the various industry verticals where even the private players has to mandatorily allocate budget and provision for R&D to boost research- This can enhance quality of products & services across the board

Set up specialized procurement and distribution hubs- through PPP mode and enhance the storage capacities across the board for different industry verticals & product categories

The Logistics division under the Min of commerce should be entrusted with the task of setting up a ONE STOP web based system for Logistics and REAL time Inventory management with provisioning and different interfaces for Stakeholders

Develop the coastal areas further with the state of the art warehouses and distribution points for coastal movement of goods & relax the coastal movement policies under the Indian Customs Act and Maritime Acts-This can considerably engage the local population in terms of job opportunities & reducing the transportation cost considerably

Create a Robust IT platform and further leverage the potential of Digital India programme by allowing more investments in innovation and digitization processes- Target should be to achieve 100% migration towards e-Governance

Thrusting more on Education, Services Sector, Agriculture, Healthcare, Pure Manufacturing not  just Assembly

IT networking for Agriculture based activities

Promote Technological Innovation in Agricultural production and cultivation methodology

Setting up of specialized Manufacturing hubs with Geographically spatial distribution industry & vertical wise- e.g. Pharmaceutical companies in Baddi/Solan (HP), Pant Nagar/Rudrapur (Uttarakhand), Mining in Jharkhand, Agri Tech in Bihar & West Bengal & North East India, Heavy Manufacturing in Gujarat/Maha/TN, Cement in Chattisgarh/MP, Warehousing clusters near Coastal areas

Views & Suggestions Authored by- Ravi Shekhar Jha (Personal Views) 

‘Direct Marketing’ helps decongest Mandis and facilitates timely marketing of farm produce during lockdown

Government of India has been making concerted efforts to facilitate farmers in direct marketing and assure better returns.  At the same time the Department issued advisories to maintain social distancing in the mandis to prevent the spread of Corona Virus in the wake of COVID19 pandemic. The States have been requested to promote the concept of ‘Direct marketing’ to facilitate farmers/ group of farmers/FPOs/ Cooperatives in selling their produce to bulk buyers/big retailers/processors etc.

The Union Agriculture Minister Shri Narendra Singh Tomar sent a letter on 16th April, 2020 to the Chief Ministers of States reiterating the need for direct marketing through Cooperatives/ Farmer Producer Organisations (FPOs) etc and encouraged all the stakeholders and farmers to adopt this process. The Department also issued an advisory to the States to promote direct marketing without insisting for licensing procedures and facilitate the farmers in timely marketing of farm produce.

In order to decongest wholesale markets & to boost the supply chain, following two modules under National Agriculture Market (e-NAM) have been introduced:

FPO Module: FPOs can directly trade with e-NAM portal. They can upload produce details from collection centers with picture/quality parameter and avail the bidding facility without physically reaching to the mandis.

Warehouse Based Trading Module: Farmers can sell their produce from Warehousing Development and Regulatory Authority (WDRA) registered warehouses notified as deemed market, and do not physically bring the produce to the nearest mandis.

Various States have adopted Direct Marketing and taken several measures:

Karnataka exempted Cooperative Institutions and FPOs in the State for engaging in wholesale trade of agricultural produce outside the market yards;

Tamil Nadu exempted market fee on all notified agricultural produce;

Uttar Pradesh allowed trading in e-NAM platform from  farm  gate  and promoted  issuance of unified licence to processors  for direct purchase from farmers and  also allowed FPOs to undertake procurement operations of wheat;

Rajasthan allowed direct marketing by traders, processors  and  FPOs. In addition to that, Primary Agriculture Credit Societies (PACS)/Large Area Multi-purpose Cooperative Societies (LAMPS) in Rajasthan have been declared as deemed markets.

Apart from Individuals, firms, and processing units, Madhya Pradesh  has allowed to set up private purchase centres outside the market–yard to purchase directly from farmers with an application fee of Rs. 500/- only.

Himachal Pradesh, Uttarakhand and Gujarat have also allowed direct marketing without requirement of any licence.

Uttarakhand has declared Warehouse/Cold storage and Processing plants as sub-mandis.

Uttar Pradesh Government has recently relaxed the rules and norms for declaring warehouses/ cold storages as Market-yards.

Impact of Direct Marketing:

Rajasthan has issued more than 1,100 direct marketing licences to processors during lockdown period wherein farmers have already started selling directly to the processors.  Out of more than 550 PACS declared as market-yards in rural areas, 150 PACS have become functional for direct marketing and village traders are performing trade transactions successfully.

Due to market fee waiver in Tamil Nadu, it was observed that traders have preferred to buy the produce from farmers from their farm gate/ villages.

In Uttar Pradesh direct linkages have been established by FPOs with farmers and traders thereby supplying their produce to consumers in cities which saved wastages and directly benefitted the farmers. Further, the State has facilitated in establishing linkages with FPOs and Zomato Food Delivery App thereby ensuring smooth distribution of veggies to consumers.

As per the report received from the States, the Direct Marketing has facilitated the famers groups, FPOs, Cooperatives and all the stakeholders in effective and timely marketing of farm produce.

Source: PIB, Govt of India

CSIR-IICT initiatives to reduce dependency for APIs and drug intermediates

Active pharmaceutical ingredients (APIs) and intermediates are the key components of any drug that produces the intended effects. India is largely depended especially on China for supply of APIs and drug intermediates. Now Indian Institute of Chemical Technology (IICT), Hyderabad, is collaborating with another Hyderabad-based integrated pharmaceutical company, LAXAI Life Sciences, to develop and manufacture APIs and drug intermediates. The initiative may help in reducing the dependency of the Indian pharmaceutical sector on Chinese imports of these ingredients.

IICT, a laboratory under the Council of Scientific and Industrial Research (CSIR), is working with LAXAI for synthesis of drugs being used in the fight against the Corona Virus.  The collaboration will primarily focus on Umifenovir, Remdesivir and a key intermediate of Hydroxy Chloroquine (HCQ).

India, one of the largest producers of anti-malarial drug HCQ, has seen a spurt in demand in the recent weeks. India has sent HCQ to over 50 countries over the last few days, including the United States. The collaboration will result in a cost-effective process with minimal dependency on China for key raw materials. In addition, Remdesivir, which has been previously administered to Ebola virus patients, is currently under clinical trials to evaluate efficacy and safety against COVID -19.

Realizing that drug security and undisrupted access to essential medicines are critical for public health, the Union Cabinet chaired by the Prime Minister, has approved a special package for promotion of bulk drug manufacturing in India and reduction of our dependence on China.

LAXAI Life Sciences Pvt. Ltd. was established in the year 2007, with a vision to accelerate the discovery chemistry campaign of global pharmaceutical companies. Today LAXAI has grown into an integrated pharmaceutical company with presence in API / formulation development as well as API manufacturing.

The collaboration will use the know-how for commercial manufacturing of the products. LAXAI Life Sciences shall be one of the first few to commercialize these products.  The manufacturing of these APIs and intermediates will be taken up at U.S. Food and Drug Administration (USFDA)/Good manufacturing practice (GMP) approved plants held by LAXAI through its subsidiary, Therapiva Private Limited.

Source: PIB, Govt of India

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The India after Lock down- Perspective & Suggestions BORN IN INDIA I SERVED FROM INDIA I TO THE GLOBE Dated:  25.04.2020 Important Measures taken, opportunities & revamp required in India amid COVID-19 & post lockdown…

[todaybharatnews]

via Today Bharat The pan-India Agriculture trading portal e-NAM completes four years of implementation on April 14. On this occasion, Agriculture Minister Narendra Singh Tomar said that e-NAM helped in realising the vision of One Nation One Market for agri produce.nbsp; Union Ministernbsp;also said that e-NAM is being expanded to cover additional 415 mandis which will take the total number of e-NAM mandis to 1000 soon. The Ministernbsp;also added that this online platform will prove to be a giant leap in reforming the agriculture market in India. e-NAM was launched by Prime Minster Narendra Modi in 21 mandis on 14th April in 2016.nbsp;More than 1.66 crore farmers and 1.28 Lakh traders are registered on e-NAM platform. Farmers are free to register on e-NAM portal and they are uploading their produce for sale online to the traders across all e-NAM mandis. Traders can bid for the lots available for sale on e-NAM from any location. During this current Covid-19 lockdown, Agriculture Ministry has initiated several steps to decongest wholesale markets and to make supply chain agile.

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Agri Commodity Fundamentals – Soybean, RMSeed, Ref Soy Oil, Crude Pal Oil (CPO), Channa, Cotton Kapas, Jeera & Turmeric

Agri Commodity Fundamentals : 11/12/2017

Soybean

NCDEX Soybean futures closed lower for the second consecutive day on Friday mainly on fresh selling initiated by the market participants tracking spot prices. However, the trend looks positive due to reports of good physical demand as Soybean Processors Association of India (SOPA) increased its estimates of meal exports for 2017/18. Moreover, earlier government has increased export incentives by 2% for all meals.

According to SOPA, Soymeal exports from the country in 2017-18 (Oct-Sep) are seen rising to around 20 lakh tn from previous estimate of 15 lakh tn due to a recent rise in export incentives.

India’s soymeal exports during November surged to 207,630 tn from 97,750 tn a year ago. For Apr-Nov, exports of soymeal were estimated at 768,981 tn compared with 204,860 tn a year ago as per SEA monthly report.

US Soybean settled 2-1/4 cents lower at $9.89-3/4 a bushel dropped 0.4 percent last week after rising in the previous four weeks mainly on improved weather conditions in Brazil and encouraging exports numbers.

Consultancy AgRural raised its forecast for 2017-18 Brazil soybean production to 112.9 mt from 110.2 mt. The USDA reported private export sales of 268,000 t of soybeans to China for 17/18 delivery through their daily reporting system. They also announced an additional 129,000 MT sold to Unknown destinations.

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RMseed (Mustard seed)

Mustard Jan futures continue to close lower for 5th consecutive day on Friday due to steady physical demand and reports of higher inventories with the traders and farmers. According to Mustard Oil Producers Association of India, mustard stock with Farmers & Processors as on 30th Nov’17 was at 13 lakh tonnes. Mills across the country crushed 475,000 tn of the oilseed in November, up nearly 6% on month.

As per rabi sowing report from the government, the acreage of mustard, another major rabi crop, was at 59 lakh ha, down from 64 lakh ha a year ago. Rajasthan is the largest mustard growing state but the sowing pace is slower than last year at 20.6 lakh ha Vs 27.4 lakh ha.

Outlook

Ncdex Soybean futures are expected to trade sideways to higher on good physical demand for new season crop for crushing needs as edible oil import duty is hiked. Moreover, higher incentives for oil meal export, good meal exports and higher estimates for meal exports will also support soybean prices.

Mustard futures expected to trade sideways on higher stocks with the oil mills and good start to rabi sowing. However, anticipation of good physical uptake by oil mills on expectation of good winter demand may keep prices supported above 4000 levels.

Refine Soy Oil

Refined Soy Oil Jan contract corrected closed to 2.8% last week due to higher stock levels, stronger rupee and weak international prices.

The prices have jumped higher to its 10 months higher when government increases the import duty of all edible oils. The government raised the duty of the crude soy oil to 30% from 17.5% to support domestic oilseed industry and farmers.

For the first half of December, government cut the base import price of soy oil, by $18 per tonnes. The government revises base import prices every fortnight, based on global prices and changes in foreign exchange rate. Prices were last revised on Nov 15.

As per latest SEA import report, Soybean oil imports slumped 21% to 220,200 tons in October from a year earlier while imports dropped during the oil year ended Oct. 31 by 22 % to 3.32 mt.

Crude Palm oil

MCX CPO fall more than 1% for the second consecutive day on Friday tracking weak Malaysian palm oil prices and strength in rupees during past 15 days which makes imports cheaper for Indian importers.

Moreover, government reduced base import price of all edible oils, with the steepest plunge of $26 per tn in crude palm oil for first half of December.

The prices have jumped higher in Nov when center has raised the import duty on crude palm oil to 30% from 15% and on refined oil to 40% from 25% in a bid to curb cheaper shipments and boost local prices for supporting farmers and refiners.

Malaysian palm fell for a fifth consecutive day on Friday, hitting a fresh five-month low as the prices was weighed down by concerns over high stockpiles amid expectation of higher production and lower exports data.

Stockpiles at end-November are seen rising 11.4 percent to 2.44 mt on the month, according to a Reuters poll, while output is pegged to drop 3 percent to 1.95 mt. Exports are forecast to fall 6 percent in November to 1.45 mt from October. Official data from the Malaysian Palm Oil Board is scheduled for release on December 12.

Outlook

We expect Ref Soy oil to trade sideways to down due to higher stocks, good domestic crushing and weaker rupees. Moreover, higher import duty and good demand from the stockists is may support prices.

CPO futures may trade sideways to lower due to weaker international palm oil prices and reduced base import prices by the government for first half of December.

Chana

Chana Jan futures plunge more than 6.3% last week as fresh selling is seen throughout the week due to improved sowing progress coupled with higher stocks in the country due to record imports. As per government data, India imported about 4.78 lakh tonnes of chana during April-Sep, up by 430% compared the last year imports.

As per government sowing data, area under the rabi chana crop across the country was up 10.25% on year at 89.6 lakh ha as on last week. The acreage of chana in MP and Karnataka, the largest and the second-largest grower of pulse, was up 17.1% on year at 31.24 lakh ha, and up 38.2% on year at 13.3 lakh ha, respectively.

To encourage farmers, govt. increase MSP by 10% to Rs. 4,400 per quintal. According to the target estimate released by government, India’s chana production target estimate for 2017-18 is 97.5 mt.

Outlook

Chana futures to trade sideways to down on good sowing progress while higher imports data for the current FY have increase stocks in the country also pressurizing prices. Low level buying may support prices.

Cotton / Kapas

MCX Dec Cotton jumps higher by more than 2% on expectation of big fall in domestic output due to pink bollworm attacks in some states. Concerns about crop quality have also impacted prices. Cotton production in Telangana this year is feared to come down drastically as it estimated that pink bollworm ay have eat up 40% of the cotton crop. According to trade sources, about 60 lakh bales have arrived in the Indian markets this season compared to 47.3 lakh bales last year till Dec 1.

ICE cotton fell on Friday after hitting an over seven-month high earlier in the session as investors took profits and as the U.S. dollar firmed.

Managed money spec traders climbed back to their largest net long position since mid-May at 82,409 contracts. That was an increase of 11,681 contracts over the week that ended 12/5. The USDA Ag Attaché in China expects the country to show 5.4 mt in 17/18 production, with total usage at 8.5 mt while importing 1.3 mt, an increase of 0.2 mt from 16/17.

Outlook

Cotton futures are expected trade higher on less than expected arrivals and reports of loss in production due to pest attack in three biggest cotton growing states. Arrivals are still slow in India with just 1.70 lakh bales reaching mandis daily in early December, when it should have crossed 2.25 lakh bales. Moreover, good physical demand from the mills and traders and commencement of procurement by CCI may keep prices supportive.

Spices (Jeera & Turmeric)

NCDEX Jan Jeera falls on Friday on fresh selling initiated by the market participants at higher levels coupled with encouraging jeera sowing progress in Gujarat. In Gujarat, jeera acreage up by 50% to 2.7 lakh ha this year compared to 1.8 lakh ha last year as on 4 th Dec.

As per government data, Jeera exports during first six month of FY 2017/18 (Apr-Sep) is 77,827 tonnes, up 8.4% compared to last year exports volume for the same period. India’s jeera exports in Sep increase 110% on year to 14,742 tn. Jeera arrivals for the first 10 days of Dec down by 60% to 906.7 tonnes on year due to tight supplies and lower stocks.

Turmeric Apr futures closed lower on fresh selling by the Market Participants on expectation of good supplies from the new season. The supplies will be higher due to government auctions and lower exports data. The export of turmeric is down by 15.2% to 56,900 tonnes for the first 6 month of FY 2017/18 compared to last years’ exports. The arrivals have been higher during first 10 days in December this year to 10,130 tonnes compared to 3,372 tonnes last year same month according to Agmarknet data.

Outlook

We expect Jeera Jan futures to trade sideways to lower on expectation of further technical correction as sowing progress is encouraging in Gujarat. Recently, export demand drive prices to all-time highs coupled with diminishing stocks with the traders also supporting prices. However, increase in exports demand may drive prices higher.

Turmeric Apr futures expected to trade sideways to lower on expectation of new season arrivals and lower demand for exports. The turmeric prices may get support from the up country demand however supplies from the government auctions and arrivals of medium quality supplies may keep the prices sideways.

The post Agri Commodity Fundamentals – Soybean, RMSeed, Ref Soy Oil, Crude Pal Oil (CPO), Channa, Cotton Kapas, Jeera & Turmeric appeared first on MCX FREE TIPS.

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