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Sep 24, 2014

India to import record 13 mln T edible oils next year -Ruchi Soya exec

NEW DELHI/MUMBAI, Sept 24 (Reuters) – India’s overseas
purchases of edible oil in the year starting November are set to
surge to a record 13 million tonnes, an executive at key
importer Ruchi Soya said, as lower prices, rising population and
higher incomes boost consumption.

Higher purchases by India, the world’s top importer of
cooking oils, could support benchmark Malaysian palm oil futures
that hit a five-year low earlier this month and have
shed almost a fifth of their value so far in 2014.

Sep 19, 2014

Top rice exporter India importing over 100,000 T on temporary supply squeeze

NEW DELHI, Sept 19 (Reuters) – India, the world’s top rice
exporter, is preparing to import the grain for the first time in
nearly a quarter of a century to feed its remote and hilly
northeastern region where rail freight is being disrupted due to
a track overhaul.

The country will import more than 100,000 tonnes of rice
from neighbouring Myanmar over the next several months, likely
spread out across 10,000-30,000 tonne tenders, government
officials said.

Sep 18, 2014

India’s rice output, exports to climb on revival of monsoon

MUMBAI/NEW DELHI, Sept 18 (Reuters) – India’s summer-sown
rice output is likely to cross the previous year’s level due to
a pick up in monsoon rains, raising prospects for higher
overseas sales in 2015 by the world’s biggest exporter of the
grain, trade officials said.

Robust exports from India could keep a lid on global prices
RI-THBKN5-P1 that have surged 12 percent in the past three
months and help cut bulging Indian government stockpiles built
as a result of bumper harvests over the past several years.

Aug 12, 2014

Surplus to check India sugar prices even if some mills stop crushing

NEW DELHI, Aug 12 (Reuters) – India will have enough sugar
to last roughly four months when the new season starts in
October, the chief of a leading industry body said, keeping a
lid on local prices even if some money-losing mills stick to
their decision of not crushing cane.

Mills in the biggest cane producing state of Uttar Pradesh,
which accounts for a third of India’s total sugar output, will
not begin operations in the 2014/15 season citing their
inability to pay state-set cane prices.

Aug 9, 2014

U.S. urges India to step up as regional power

NEW DELHI, Aug 9 (Reuters) – The United States urged India
on Saturday to bolster its role as a global power and force for
regional stability, ahead of Prime Minister Narendra Modi’s
first visit to Washington since his election in May.

In a speech wrapping up two days of talks, Defense Secretary
Chuck Hagel also played up deepening defence industry
cooperation but did not have any major new arms export deals to
announce.

Aug 7, 2014

Modi sticks to failed recipe in India’s food-inflation fight

NEW DELHI, Aug 8 (Reuters) – It’s been more than a month
since Nirmala bought fresh tomatoes. A fourfold rise in prices
since early June has made the essential ingredient in Indian
curries and sauces a luxury she can no longer afford.

“Buying tomatoes feels like buying jewellery,” says the
29-year-old maid, who is struggling to make ends meet on her
monthly pay of $l65 as prices for fresh staples such as onions
and potatoes also soar in New Delhi.

Aug 5, 2014

Sugar mills in Uttar Pradesh to suspend cane crushing; risk of shortages

NEW DELHI (Reuters) – Sugar mills in India’s top cane producing state of Uttar Pradesh will not crush cane in the new season starting in October, the state’s mills association said on Tuesday, as they will not be able to pay high state-set cane price to farmers.

Mills in Uttar Pradesh often are at loggerheads with the state government, which typically forces sugar companies to pay a premium to farmers over the cane price fixed by the federal government. The mills suspended crushing activities last year for two months and have halted operations in earlier years too.

Aug 5, 2014

Sugar mills in Indian state to suspend cane crushing; risk of shortages

NEW DELHI, Aug 5 (Reuters) – Sugar mills in India’s top cane
producing state of Uttar Pradesh will not crush cane in the new
season starting in October, the state’s mills association said
on Tuesday, as they will not be able to pay high state-set cane
price to farmers.

Mills in Uttar Pradesh often are at loggerheads with the
state government, which typically forces sugar companies to pay
a premium to farmers over the cane price fixed by the federal
government. The mills suspended crushing activities last year
for two months and have halted operations in earlier years too.

Jul 29, 2014

Rural votes, old traumas drive India’s WTO brinkmanship

NEW DELHI (Reuters) – With grain silos spilling over, exports on the rise and an avowed market champion for prime minister, India’s threat to trash a global trade deal in the name of food security appears puzzling.

But government officials say Prime Minister Narendra Modi is prepared to brazen out global outrage to seize a historic opportunity to build a rural power base with his defense of farm subsidies and to banish memories of humiliating national food shortages.

Jul 22, 2014

Depleting water reservoirs need rains to prevent crop loss

NEW DELHI (Reuters) – India’s reservoirs are depleting fast and monsoon rains need to pick up now if they are to have enough water to prevent a drop in output of major winter crops such as wheat and rapeseed that are sown from October, a senior government official said.

Rains in India, the world’s second-biggest rice, wheat and sugar producer, were 15 percent below average in the week to July 16, an improvement from the previous week’s shortfall of 41 percent but still 29 percent deficient since the start of the season in June.

    • About Mayank

      "At Reuters, I have been covering India's vibrant and burgeoning commodities market since September 2006. Before joining Reuters, I helped NEWSWIRE18 (formerly CRISIL MarketWire), India's first and only real-time news agency, launch its commodity wire. NW18 is part of India's Network18 group which runs CNBC news channel. Between 2000 and 2005, I covered leading car and consumer durable companies for the Press Trust of India, the country's premier news agency."
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