Grain: Ups and Downs
August 16, 2017 at 8:25 AM ,
Rainbow Exports
Wheat: Not too fast
Domestic and foreign wheat is coming cheaper in south-western markets such as Poona, Bangalore, Coimbatore, Nagpur, which has reduced demand from North India. On the other hand, due to the rapid growth of last year, wheat stock has been abundant in producer and distributor markets too. Even in the mandis of UP, MP and Bihar, wheat is still running between US$238 to 242 per mt. From there, there is going to be US$273 per mt. all over India falling in the state. Given this, there is no particular reason of its speed. There was a lot of downside, due to which some market improved and US$15 to 30 per mt. can be made.
Rice: Market up side
The all-round purchase of rice mills in paddy has been increased by US$20 per mt., which has also turned into a sharp turn in rice. The rupees of exporters are also getting started in international markets, which had increased the fine rice prices by US$20 to 25 per mt. It will take two months to get the new crop and there is news in the market that less sowing has been done this year. Apart from this, paddy will be released this month. Looking at these conditions, market will be up by US$25 to 35 per mt. in the next one-two days.
Makki: A little bit faster than expected
The market has again become up of US$20 to 25 per mt., high prices of maize and incessant rains in the mandis of Bihar. Even with the stock being reduced here, the supply of Hoshiarpur line in Punjab has started raising Rs 10/12 in Rajpura line after the arrival of the goods coming off. Even here, the price of maize increased to US$204 per mt. by US$15 to 20 per mt. It will take one month for UP's maize to come. Before this the market can improve a little bit further.
Millet: roasting fast possible
In some areas of Rajasthan and Gujarat, millet has been destroyed from the flood. Badaamer, Jaisalmer Line, in the areas that originate from Gujarat, the bajra crop is flooded with flood. As a matter of fact, the traders have started raising the old goods. With the stoppage of sale by the stockists of Haryana, the trade increased to US$15 per mt. and US$ 185 per mt. Demand for local market is coming out and the supply of UP's goods has stopped. Moli Barwala, Rajasthan, has started raising US$20 per mt.as a result; it seems that market will go little up.
Guar: hope to go up.
With the demand for gum mills and weakening of the sale of stockists, guar prices in Jodhpur mandi remained strong at US$600 per mt. In the Hissar mandi, its quote was raised at US$575 per mt. from US$525 per mt. in bags. Prices has gone up by US$50 high for gum as speculators are in the market. In the coming days, there is no hope of a decrease in the market. The market will remain strong.
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