Cabinet okays MoU with UAE for cooperation in agriculture

 

The government has approved the signing of an agreement between India and the United Arab Emirates in the area of agriculture and allied sectors.

"The Union Cabinet, chaired by the Prime Minister Narendra Modi, has given its approval for signing of Memorandum of Understanding (MoU) between India and the United Arab Emirates in the field of agriculture and allied sectors," an official statement said.

"It will promote understanding of best agricultural practices in the two countries and will help in better productivity at farmer fields as well as improved global market access leading to equity and inclusiveness," it said.

The cooperation in agricultural technology would lead to innovative techniques for increasing productivity leading to strengthening of food security, the statement said.

 

Read more - Agro Updates

Commodity Important Updates for 19 Dec 2016

Aluminium trading range for the day is 115.5-119.5.Aluminium prices dropped tracking LME Aluminium closed down at $1,717 a tonne amid signs of softer demand from China. New residential construction in the U.S. saw a steep drop in the month of November, according to a report. Japanese stocks have been steadily decreasing since reaching a record high of 502,200 tonnes in May 2015.

Jeera trading range for the day is 17075-18015.Jeera prices dropped on profit booking after prices gained amid dwindled supplies and good demand for exports. In 2016-17 Jeera sowing completed around 180300 hectares as compared to last year same period 127600 hectares, as on now. NCDEX accredited warehouses jeera stocks gained by 108 tonnes to 281 tonnes. In Unjha, a key spot market in Gujarat, jeera edged down by -38.45 rupees to end at 18461.55 rupee per 100 kg.

Turmeric trading range for the day is 6900-7072.Turmeric dropped amid expectation of good crop next season and as damage to the turmeric crop in recent rains is not significant. The availability of good quality is quite low and crop arriving currently is of medium to low quality. NCDEX accredited warehouses turmeric stocks dropped by 556 tonnes to 1372 tonnes. In Nizamabad, a major spot market in AP, the price ended at 7761.25 rupees dropped -25.65 rupees.

Soyabean trading range for the day is 3010-3110.Soyabean prices ended with losses tracking weakness in spot demand amid increase in supplies in December and January. There is an expectation that the arrivals of soybean in the domestic market keeping the supplies more than the demand. NCDEX accredited warehouses soyabean stocks gained by 1924 tonnes to 122131 tonnes. At the Indore spot market in top producer MP, soybean dropped -7 rupee to 3045 rupee per 100 kgs.

Menthaoil trading range for the day is 984.7-1019.7.Mentha oil spot at Sambhal closed at 1069.20 per 1kg. Spot prices is down by Rs.-2.80-.Mentha oil settled up amid increasing demand in the domestic spot market. Sources mentioned that nearly 14500 MT of mint products were exported in six months of the current financial year. Farmers are keeping most of the stocks in their hands. Most buyers are willing to buy at these levels.

Nickel trading range for the day is 743.6-780.4.Nickel prices dropped as pressure seen on prices after update the global nickel market moved to a surplus. Data showed the global nickel market moved to a surplus of 900 tonnes in October from a deficit of 500 tonnes a month before. News that the Philippines government had cancelled permits for another three mines on environmental grounds did little to support the metal.

Zinc trading range for the day is 178.9-192.7.Zinc prices dropped on profit booking triggered by a rising dollar that cast doubt over demand strength and expectations of tighter supply. There is also idle mine capacity that can be reactivated to alleviate the supply deficit. ILZSG data for January-October shows zinc mine output fell 1.9% to 10.887 million tonnes, a drop of some 205,000 tonnes.

Copper trading range for the day is 379-395.2.Copper prices fell as rising stocks in London Metal Exchange warehouses and signs of softer demand from major consumer China. Upbeat economic data from China suggests demand should be positive next year, but rising inventories put the metal under pressure. Mining companies in Peru, are accelerating their production of copper to take advantage of better prices for the red metal.

Read More - Commodity News

Mentha oil futures flat on muted physical demand

 

Mentha oil futures were flat during morning trade in the domestic market on Thursday as investors and speculators remained on the sidelines in the agri-commodity amid muted physical demand for mentha oil from major consuming industries in the domestic spot market.

Further, trimming of positions by traders in the spot market was due to sluggish physical demand for mentha oil from consuming industries at the domestic spot market against sufficient stocks position on significant supplies from producing regions, influenced mentha oil prices at futures trade.

At the MCX, mentha oil futures for December 2016 contract is trading flat at Rs 1,006.80 per kg after opening at Rs 1,006, against the previous closing price of Rs 1,006.80. It touched the intra-day low of Rs 1,004 .

 

Read More -Mentha OIL Updates

Agro Updates - Cardamom futures little changed on rising demand

Cardamom futures were little changed during the morning trade in the domestic market on Thursday as investors and speculators build up fresh positions in the agri-commodity amid surge in physical demand for cardamom in the domestic spot market. Further, insufficient stocks position amid restricted supplies from producing regions, supported the uptrend in domestic cardamom prices. 

At the MCX, cardamom futures for September 2016 contract is trading at Rs 1,200 per kg, up by 0.08 per cent, after opening at Rs 1,210, against a previous close of Rs 1,199. It touched the intra-day high of Rs 1,210 

Read More  - Agro Updates

Mentha oil futures up by 0.39% on rising demand

Mentha oil futures were trading higher during the morning trade in the domestic market on Friday as participants indulged in building up of fresh positions in the agri-commodity amid a rise in physical demand from major consuming industries for mentha oil in the domestic spot market.

Further, an increase in demand for mentha oil futures was attributed to fresh positions build up by traders in the spot market, buoyed prices of mentha oil at futures trade. At the MCX, mentha oil futures for August 2016 contract were trading at Rs 909 per kg, up by 0.39 per cent after opening at Rs 905.10, against the previous closing price of Rs 905.50. It touched the intra-day high of Rs 910 .

Read More - Mentha Oil

Today Cardamom futures dip 0.32% on Sluggish Demand At the Market

 

Cardamom futures were trading lower during the morning trade in the domestic market on Tuesday as speculators trimmed their positions in the agri-commodity amid a decline in physical demand for cardamom in the domestic spot market. Further, sufficient supplies amid higher physical arrivals from the major cardamom producing belts in the country too exerted downward pressure on domestic cardamom prices. 

 

At the MCX, Cardamom futures for August 2016 contract is trading at Rs 953 per kg, down by 0.32 per cent, after opening at Rs 953, against a previous close of Rs 956.10. It touched the intra-day low of Rs 948.20.

 

Read More - Agro Updates .

 

 

Agro Updates - Cardamom futures up on strong Demand

 

Cardamom futures were trading higher during the morning trade in the domestic market on Tuesday after speculators widened their positions supported by rising demand in the spot market.

Further, restricted supplies from producing regions and rising domestic as well as export demand in the spot market also fuelled the uptrend. 

 

At MCX, Cardamom futures for August 2016 contract is trading at Rs 936.40 per kg, up by 0.11 per cent, after opening at Rs 937, against a previous close of Rs 935.40. It touched the intra-day hiigh of Rs 938.

 

Read More - Agro Updates 

India's crop protection industry to be worth $6.3 bn by 2020

 

Indian crop protection industry is estimated to grow by 7.5 per cent per annum to reach USD 6.3 billion by 2020, according to a report by Tata Strategic Management Group.
 

The report 'Next Generation Indian Agriculture - Role of Crop Protection Solutions' was released today by Hukumdev Narayan Yadav, Chairman, Standing Committee of Parliament on Agriculture and Farmers Welfare.

"As per the report, Indian crop protection Industry is estimated at USD 4.4 billion in FY 2014-15 of which 47 per cent are exports. The crop protection industry is expected to grow further at 7.5 per cent per annum to reach USD 6.3 billion by FY 2019-20," the report said as per the PTI.

The industry is dominated by insecticides which contribute to 60 per cent of the overall demand, followed by fungicides and herbicides which account for 18 per cent and 16 per cent of the demand respectively, the company said in a statement.

"Agrochemicals play a critical role in ensuring food and nutrition security of the nation. With estimated 355 million tonnes per annum food grain requirement by 2030 from current 253 million tonnes, efficient usage of crop protection products and solutions for Indian agriculture are the need of the hour," said Manish Panchal, Sr. Practice Head - Chemicals & Energy at Tata Strategic Management Group.

In order to realise the true potential, Industry, Government and Regulatory bodies need to work in tandem and embrace digital technologies to further improve farmer connect, he added.

The report highlights that the Indian agriculture sector is facing critical challenges like reduction in arable land, decreasing farm size, increasing pest attacks, low per hectare yield and a shift towards animal products consumption, all of which are leading to demand outpacing supply in the country's food chain.

"Agrochemicals could play a significant role in overcoming this imbalance," the report said. 

 

Read More - Indian Crop Protection

Agro updates - Cardamom futures Drop on Muted Demand

 

Cardamom futures were trading lower during the morning trade in the domestic market on Tuesday as investors and speculators remained cautious over booking fresh positions in the agri-commodity amid muted physical demand for Cardamom in the domestic spot market.

Further, abundant supplies on higher physical arrivals from the major Cardamom producing belts in the country also exerted downward pressure on domestic Cardamom prices.

At the MCX, Cardamom futures for August 2016 contract is trading at Rs 885.80 per kg, down by 0.55 per cent, after opening at Rs 889.90, against a previous close of Rs 890.70. It touched the intra-day low of Rs 882.

 

Read More - Agro Updates

SEBI Updates - SEBI Pitches India To Silicon Valley Investors

 

The Head of India`s financial markets regulator visited Silicon Valley this week to promote rule changes in his country protecting minority shareholders and encourage more investment in his country`s thriving technology startups.

U.K. Sinha, chairman of the Securities and Exchange Board of India (SEBI), said improved regulations make it much easier for investors in the country`s over-4,000 technology startups to eventually cash out through initial public offers in Asia`s third-largest economy.

"The technology startup scene in India has picked up dramatically," Sinha told Reuters in an interview on Thursday. "A lot of investment has taken place in those companies from Silicon Valley. The question is how they exit, and what is the minority shareholder protection available to them?"

A 2013 overhaul of India`s corporate governance rules clamped down on related-party transactions benefiting majority shareholders. It also beefed up the role of independent directors and audit committees on company boards.Minority shareholders in India now have stronger rights than in the United States, Sinha said.

In Silicon Valley, corporate governance can be a thorny issue. In April, Facebook said it would create a new class of non-voting shares so that Chief Executive Officer Mark Zuckerberg could give away his wealth without relinquishing control of the social media juggernaut he founded.

 

Read More - SEBI Updates

Agro Updates - Jeera Ends Lower On Waning Demand

Jeera prices closed lower by 1.56 per cent on Tuesday at the National Commodity & Derivatives Exchange Limited (NCDEX) on account of a surge in the supply from the producing regions in the midst of a decline in the export demand. At the NCDEX, jeera futures for June 2016 contract closed at Rs. 16,105 per quintal, down by 1.56 per cent, after opening at Rs. 16,370 against the previous closing price of Rs. 16,360. It touched the intra-day low of Rs. 16,050.
 

Global output of Jeera is around 2.2 lakh MT per year, of which India produces about 1.5 lakh MT per year.
 

India exports Jeera mainly to the US, UK, UAE, Japan, Brazil, Bangladesh, Singapore and many other countries. Other Major exporters are Syria and Turkey.
 

Read More – Jeera Tips.

Top Headlines For Todays Stocks Market .

                                                                   Stock Market Headlines

• Macro data, quarterly results key to stock market this week .
• Asian shares trade mixed, Nikkei gains 1%, Kospi, ASX near-flat .
• Sebi expands probe into financial dealings of Mallya firms.
• Weak jobs data may have pushed US Fed hike to September.
• Will make list of wilful defaulters public: RBI Governor.
• ITC up over 2% on progressive resumption of cigarette factories .
• GDP growth slowing; official data counter-intuitive: Ambit .
• Stocks in news: Siemens, ITC, Arvind, SBI, Power Grid, ONGC.
• Have fully complied with AQR norms but NPA pain not over .
• Thyrocare to make stock market debut today.
• MGL IPO in pipeline this month; to raise Rs 1,200 cr .
• E-commerce sector to see $120bn revenue by 2020: Study.
• Home prices hit roof but affordability also at its best: HDFC .
• Maruti plans to widen auto gear shift portfolio .
• Lakshmi Vilas Bank draws up plan to revitalise business .
• Honda to recall 20 million more Takata airbags:
• Samsung to launch two new mid-range phones today in India .
• Financial plan with difference for a special child. 
• Read More - Stock Tips

Agro Updates - Chana Ends lower on Higher Arrivals

Chana prices closed lower by 2.19 per cent on Monday at the National Commodity & Derivatives Exchange Limited (NCDEX) as a result of the steady sowing progress of pulses along with high supplies in major producing states. At the NCDEX, chana futures for May 2016 contract closed at Rs. 5,399 per quintal, down by 2.19 per cent, after opening at Rs. 5,487 against the previous closing price of Rs. 5,520. It touched the intra-day low of Rs. 5,355.
 

India is the largest producer of chickpea followed by Pakistan, Turkey and Iran. India produces around 6 to 8 million tonnes and contributes around 70 per cent of the total world production.
 

Read More – Chana Tips

Top Headlines of Stock Market on 22nd of April

                                              Stock Market News 

• Asia lower; ASX down 0.6%, Nikkei drops 0.3%, Kospi loses 0.4%
• Wall Street cedes ground after mixed bag of earnings
• Modi passionate about developing country: Mahesh Sharma
• Vodafone invites banks to pitch for $2-2.5 bn Indian IPO
• Banks need structural, internal upgrades to reduce NPLs
• ECB keeps rates unchanged at record low as expected
• HDFC Bank Q4 profit seen up 21%, retail may drive loan growth
• Govt unlikely to push labour reforms bills in next Parl session
• Stocks in news: Tata Steel, DHFL, Dishman Pharma, SKS Micro
• Bull's Eye: Buy Infosys, REC, EIL; sell TVS Motor, Wockhardt
• Exclusive : Govt kick-starts NMDC stake sale process, invites bids
• ATC concludes Viom purchase for Rs 7,635 crore
• Rajan, Pichai, Bansals among 100 most influential people: TIME
• FinMin looks to expedite clearances to FDI proposals
• Need level-playing field for algo trades, Sebi tells brokers
• Solar firm SunEdison files for bankruptcy
• Uttarakhand battle shifts to Delhi, Centre to move SC
• Read More - Stock tips

Agro Updates - Maize Ends Higher On Rise in Demand

Maize prices closed higher by 1.07 per cent on Monday at the National Commodity & Derivatives Exchange Limited (NCDEX) as a result of a rise in the demand from exporters and poultry industries. At the NCDEX, maize futures for May 2016 contract closed at Rs. 1,223 per quintal, up by 1.07 per cent, after opening at Rs. 1,210 against the previous closing price of Rs. 1,210. It touched the intra-day high of Rs. 1,234  Commodity markets were closed on April 19, 2016 on account of Mahavir Jayanti.

 

USA, China and Brazil are the top three maize producing countries in the world while the prominent exporters of maize are USA, Argentina and Brazil. Chief importers are Japan, EU, Malaysia, Taiwan, Indonesia etc.

 

Read More - Agro Updates 

Sensex, Nifty closed on account of 'Ram Navami' : Asia subdued

The Domestic stock market will remain closed on Friday on account of a public holiday while Asian markets remain subdued as caution toward a weekend meeting of oil producers tempered risk sentiment.
 

US crude oil dipped 4 cents to $41.46 a barrel from its peak of $42 on concerns that the top producers' meeting may not result in tightening of supply.
 

Nifty India stock futures in Singapore were trading 4 point lower at 7,924. The index gained over 50 points in the previous sessions even though the domestic market remained shut on account of public holiday.
 

Japan's Nikkei 225 index which was trading 0.34 per cent lower at 16,853 and Hong Kong's Hang Seng index was trading 0.20 per cent lower at 21,310.
 

China shares remain subdued after data suggested that the world's second-largest economy grew at 6.7 per cent in the first quarter from a year earlier, meeting expectations.
 

Overnight, US stocks ended marginally higher in muted trading on Thursday, propped up by financial stocks. Bank of America and Wells Fargo posted lower quarterly profits and increased provisions to cover bad loans from their stressed energy portfolios,
 

Back home, investors will keep a close eye on Infosys results for the quarter ended March 31 which will be out later today.
 

Infosys, one of India's largest outsourcing firm, is expected to report 1.4 per cent quarter-on-quarter (QoQ) rise in net profit to Rs 3,514 crore for the quarter ended March 31, compared to Rs 3,465 crore reported in the year-ago period. 

 

Read More - Market Updates 

Sufficient Agri production Despite of Adverse circumstances: Singh

Union Agriculture & Farmers Welfare Minister, Radha Mohan Singh on Monday said that government is taking concrete steps to remove debt problems of the farmers.

 

“The government has increased Agricultural Credit target Rs. 9 lakh crore for the year 2016-17 to bring the farmers within institutional fold, adding that government is taking long term measures to remove the problems of the farmers,” he said while speaking at two days Kharif Conference being held at NASC-ICAR Institute Pusa, New Delhi.

The Agriculture Minister informed that it is for the first time that the representatives of agriculture and related sectors have been invited for the conference. Shri Singh observed that inspite of a severe loss to the crops owing to unseasonable rainfall, hailstorm and other natural calamities, the whole food grain production which was 252.02 million tons in 2014-15 as per advance estimate (15.2.2016), it has been increased to 253.16 million tones on 2015-16.

Speaking at the occasion he said that, the government has to double the farmers income in the next five years as is announced in the budget 2016-17. Hon’ble Prime Minister has suggested 7 points to achieve the target.

The Government has increased budgetary provision in irrigation sector. Government aims at ‘more crop per drop’. Government policy is focused on water preservation and irrigation. Government is working hard to increase the productions of other crops alongwith paddy and oilseeds.

Government has decided last year to produce only neem coated urea so that plants get nutrients easily. Rs 20,000 per acre are being provided to the farmers to encourage them to adopt organic farming.

To increase the income of farmers by reducing their marketing expenditure: A national agriculture market is being set up for electronic trading. In this programme, 585 agriculture mandis of India will be connected to each other. The farmers will get maximum price of their crops and the interference of mediators will be reduced to a greater extent. Direct foreign investment is also being encouraged in this field. 

 

Read More - Agro Updates .

Agro updates - Chana Ends Higher On Restricted Stocks.

Chana prices closed higher 3.45 per cent on Thursday at the National Commodity & Derivatives Exchange Limited (NCDEX) as the traders enlarged their holdings in the commodity on account of the good demand in the market. At the NCDEX, chana futures for April 2016 contract closed at Rs. 5,100 per quintal, up by 3.45 per cent, after opening at Rs. 4,972 against the previous closing price of Rs. 4,930. It touched the intra-day high of Rs. 5,127.

 

Moreover, the restricted arrivals of the commodity in the physical market due to lower estimated output also influenced the chana prices.

 

Read more – Agro updates . 

 

India is the largest producer of chickpea followed by Pakistan, Turkey and Iran. India produces around 6 to 8 million tonnes and contributes around 70 per cent of the total world production.

Agri Updates - Jeera Ends Lower On Weak Demand .

Jeera prices closed lower by 0.68 per cent on Wednesday at the National Commodity & Derivatives Exchange Limited (NCDEX) on account of a surge in the supply from the producing regions in the midst of a decline in the export demand. At the NCDEX, jeera futures for April 2016 contract closed at Rs. 15,955 per quintal, down by 0.68 per cent, after opening at Rs. 15,930 against the previous closing price of Rs. 16,065. It touched the intra-day low of Rs. 15,760.
 

Global output of Jeera is around 2.2 lakh MT per year, of which India produces about 1.5 lakh MT per year. Read More – Agri updates.
 

India exports Jeera mainly to the US, UK, UAE, Japan, Brazil, Bangladesh, Singapore and many other countries. Other Major exporters are Syria and Turkey.

Agro Tips - Jeera Ends lower On Demand Concerns

Agro Tips - Jeera prices closed lower by 1.83 per cent on Monday at the National Commodity & Derivatives Exchange Limited (NCDEX) on account of a surge in the supply from the producing regions in the midst of a decline in the export demand. At the NCDEX, jeera futures for March 2016 contract closed at Rs. 13,150 per quintal, down by 1.83 per cent, after opening at Rs. 13,465 against the previous closing price of Rs. 13,395. It touched the intra-day low of Rs. 13,090. Global output of Jeera is around 2.2 lakh MT per year, of which India produces about 1.5 lakh MT per year. India exports Jeera mainly to the US, UK, UAE, Japan, Brazil, Bangladesh, Singapore and many other countries. Other Major exporters are Syria and Turkey.