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Nov 6, 2015

India’s Oct oilmeal exports plunge by record 94 pct

NEW DELHI/MUMBAI, Nov 6 (Reuters) – India’s exports of
oilmeal plunged a record 94.3 percent in October from a year
ago, as higher prices prompted key Asian buyers to switch to
South American rivals offering a steep discount from Indian
prices, trade data showed on Friday.

Indian oilmeal exporters were forced to raise prices, as
oilseed output fell, hit by the first back-to-back drought in
three decades although South American suppliers trimmed prices,
thanks to abundant supply and sharp drops in their currencies.

Nov 3, 2015

India’s cotton exports to rise as Bangladesh takes China’s place

MUMBAI, Nov 3 (Reuters) – India, the world’s biggest cotton
producer, is likely to export 6.8 million bales in the 2015/16
season, up 18 percent from a year ago as demand from Asia is
expected to improve, a senior government official told reporters
on Tuesday.

Higher exports will cap global prices, but raise
domestic prices and help bring down government purchases at the
support price.

Nov 3, 2015

India seen unlikely to emerge as major raw sugar exporter

LONDON/MUMBAI (Reuters) – Indian mills are prioritising exports of low-quality white sugar, signalling that the world’s second biggest producer is unlikely to emerge as a major raws exporter this season, European traders said on Tuesday.

The trade is focused on how much of India’s exports will be raws and/or whites, and sentiment is growing that mills prefer to offer low-quality, 150-ICUMSA whites.

Oct 30, 2015

Asia Gold-Buying picks up in small volumes as prices dip to 3-week low

SINGAPORE/MUMBAI, Oct 30 (Reuters) – Gold demand in Asia saw
some uptick towards the end of the week, after a muted start, as
the metal’s drop to a three-week low attracted buyers.

Local premiums, however, remained largely unmoved, a sign
that demand hasn’t picked up in a significant way.

Oct 27, 2015

Attacks on India’s beef industry hit buffalo meat trade

NEW DELHI/MUMBAI (Reuters) – Rising tensions over eating beef in Hindu-majority India are starting to hit the multi-billion dollar buffalo meat trade, with exports falling in the last six months as traders run short of supplies and China lifts purchases from Brazil.

Religious activists, who critics say have been emboldened by nationalist premier Narendra Modi’s ascendance, have stepped up attacks on the beef industry, alleging that cows are being killed and falsely labeled for export as buffalo meat.

Oct 22, 2015

Indian festive demand for gold sluggish, discounts widen

MUMBAI/SINGAPORE (Reuters) – Festive demand for gold in India got off to a tepid start, with local prices still at a heavy discount to the global benchmark, a bad sign for a period when buying is typically strong.

Though sales picked up this week with the onset of the festival season, demand was lower than usual, retailers said, even as jewellers splashed newspapers across the country with ads promising good deals and discounts.

Oct 22, 2015

Asia Gold-Indian festive demand sluggish, discounts widen

MUMBAI/SINGAPORE, Oct 22 (Reuters) – Festive demand for gold
in India got off to a tepid start, with local prices still at a
heavy discount to the global benchmark, a bad sign for a period
when buying is typically strong.

Though sales picked up this week with the onset of the
festival season, demand was lower than usual, retailers said,
even as jewellers splashed newspapers across the country with
ads promising good deals and discounts.

Oct 21, 2015

Stock limit could spoil India’s pulse imports plan – trade body

MUMBAI (Reuters) – India has contracted to import 2.5 million tonnes of pulses for shipment in October to January, but the bulk of the purchases could be cancelled if the Maharashtra government continues a stock limit policy introduced earlier this week, the head of a trade body said.

The cancellation of pulse imports from countries such as Canada, Myanmar and Australia could exaggerate shortages in India, the world’s biggest pulse consumer, and push prices to new highs.

Oct 20, 2015

India to buy more cotton from farmers as China trims imports

MUMBAI (Reuters) – India will be forced to make large-scale government cotton purchases from farmers for a second straight year, following a cut in imports by top buyer China that has depressed prices, industry officials said.

India spent 160 billion Indian rupees ($2.5 billion) to buy 8.7 million bales of cotton at a government-set minimum support price (MSP) in the marketing year that ended on Sept. 30, up from just 400,000 bales in the previous year.

Oct 19, 2015

Indian mills seen exporting sugar but struggling to meet target

LONDON/MUMBAI (Reuters) – Indian mills have contracted exports of almost 100,000 tonnes of home-grown white sugar, but will likely struggle to meet an ambitious government target, traders said.

India has been pushing mills to sell sugar on the international market and use the proceeds to clear huge debts they owe farmers for sugarcane.

    • About Rajendra

      "Rajendra is a commodities correspondent based in Mumbai. He has been tracking agriculture commodities along with agrochemicals and fertilisers for Reuters since 2006. He loves to report on what's changing in the city's hinterland as urbanisation gains pace in India's predominantly agrarian economy."
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