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Nov 25, 2014

Asia Sugar-China contracts to import Thai raws, Indonesia could buy whites

NEW DELHI, Nov 25 (Reuters) – China has contracted to import
about 140,000 tonnes of Thai raw sugar and Indonesia is
exploring opportunities to buy some whites, or the refined
variety, from Bangkok but overall trade continued to be sluggish
in the region.

Thai raw sugar discounts remained unchanged and there was no
bid for J-spec, the low-quality Thai raws favoured by Japanese
buyers. But premiums for Thai whites rose marginally.

Nov 12, 2014

Food ministry recommends raising edible oil import taxes

NEW DELHI (Reuters) – India’s food ministry wants to double the import tax on crude edible oils and raise that on refined oils by 50 percent, but is waiting for other ministries to give their views before passing its recommendation to the cabinet, the food minister said.

The world’s biggest vegetable oil importer levies a 2.5 percent tax on the crude variety and 10 percent on refined. It imports nearly 60 percent of its 18-19 million tonnes annual demand, mostly as palm oil from top producers Indonesia and Malaysia.

Nov 12, 2014

India’s food ministry recommends raising edible oil import taxes

NEW DELHI, Nov 12 (Reuters) – India’s food ministry wants to
double the import tax on crude edible oils and raise that on
refined oils by 50 percent, but is waiting for other ministries
to give their views before passing its recommendation to the
cabinet, the food minister said.

The world’s biggest vegetable oil importer levies a 2.5
percent tax on the crude variety and 10 percent on refined. It
imports nearly 60 percent of its 18-19 million tonnes annual
demand, mostly as palm oil from top producers Indonesia and
Malaysia.

Nov 11, 2014
via India Insight

Interview: Rajdeep Sardesai on Modi, the Gandhis and politics in India

Photo

The best journalists get front-row seats to the most tumultuous years of a nation. Rajdeep Sardesai, one of India’s best-known journalists,¬†was in such a position for this year’s general election in India, in which 815 million people voted. Their decisions brought the Bharatiya Janata Party and its leader Narendra Modi into power, ending 67 years of near-uninterrupted control of Indian politics by the Congress Party and the Nehru-Gandhi clan.

Sardesai has published a book, “2014: The Election that Changed India,” and he shared his thoughts with Reuters on Modi, his ill-fated rival Rahul Gandhi, and politics in India today. Here are edited excerpts.

Nov 4, 2014

Asia Sugar-China buys some Thai sugar but discounts hold steady

NEW DELHI, Nov 4 (Reuters) – Thai raw sugar discounts held
steady this week even as China bought some of the sweetener from
Bangkok after Beijing lowered its output forecasts and stepped
up overseas purchases, mostly from the world’s top producer
Brazil.

“Only a little bit of Thai sugar has been transacted for the
Chinese market which has mostly been buying Brazilian sugar for
the past two-three weeks,” said a dealer.

Nov 3, 2014

India’s 2014/15 sugar exports seen at 1.0-1.5 mln T-Sucden India

NEW DELHI (Reuters) – India is likely to export up to 1.5 million tonnes of sugar in the year that began in October if the government extends incentives for exports of the raw variety, the country head of Sucden, one of the world’s top sugar traders, said.

India, the world’s biggest sugar producer after Brazil, exported 2.1 million tonnes, mostly raws, in the year to September 2014 after the government gave export incentives to help mills cut back large stockpiles at their warehouses.

Oct 29, 2014

India lifts domestic wheat purchase price by 3.6 pct

NEW DELHI (Reuters) – The government has raised the price it will pay to buy new-season wheat from local farmers by 3.57 percent to 1,450 rupees per 100 kg, encouraging the crop even though supply has exceeded demand for eight years.

India, the world’s second-biggest wheat consumer, sets a price each year to protect domestic farmers from distress sales and to cover emergency needs. It uses the grain to sell food to the poor at low prices.

Oct 29, 2014

Sugar mills to start crushing on time, output to rise

NEW DELHI (Reuters) – Sugar mills in India’s main cane-producing state are likely to start crushing on time next month, even though a dispute over cane prices is unresolved, and the world’s biggest consumer is poised to produce a surplus for the fifth straight year.

A timely start to the crushing season could depress local prices by increasing supplies and may force mills to seal export deals at lower price.

Oct 29, 2014

Indian sugar mills to start crushing on time, output to rise

NEW DELHI, Oct 29 (Reuters) – Sugar mills in India’s main
cane-producing state are likely to start crushing on time next
month, even though a dispute over cane prices is unresolved, and
the world’s biggest consumer is poised to produce a surplus for
the fifth straight year.

A timely start to the crushing season could depress local
prices by increasing supplies and may force mills to seal export
deals at lower price.

Oct 28, 2014

Asia sugar – Thai discounts widen despite muted trade, market awaits India decision

NEW DELHI (Reuters) – Thai raw sugar discounts widened this week but trade deals were muted as the market is still awash with sweetener after traders took delivery at the expiry of the October contract in New York.

Thai high-polarisation, or hipol, raw sugar was quoted at 90-95 points below the New York March contract, compared with discounts of 60 points the week before.

    • 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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