AgrI Commodity News & Tips Update 17 feb 2016

Rice Procurement Up by 21% Till Date

Paddy procurement by The Food Corporation of India (FCI) and other government agencies in the 201516 Kharif marketing season (KMS) has reportedly reached around 26.13 million tons as on February 11, 2016, up about 21% from around 21.54 million tons during the same time last year. The government is targeting to procure about 30 million tons in KMS 201516.

 

Cardamom Prices Reported Lower Due to Higher Production

Cardamom production (Agriwatch estimate) may up to 24000 tonnes current year as compared to last year 22000 tonnes. Cardamom stocks reported higher in the spot market as production increased from last two year. Production increased in India from last two years due to favourable weather condition in major growing regions.

India Sources Cotton Majorily from USA During Week

During the last week (i.e. 08 Feb-14 Feb 2016) India imported cotton from USA, Argentina, Australia followed by Mali and Egypt. The respective volumes these countries exported to India during the week are 0.045 lakh bales, 0.028 lakh bales, 0.024 lakh bales, 0.015 lakh bales, 0.014 Lakh Bales.

Bangladesh Stands as Major Cotton Buyer

Major importer of Indian cotton during the week was Bangladesh. According to the data released by IBIS, Bangladesh imported 0.76 lakh bales of cotton from India in the past week (08 Feb-14 Feb 2016). Other major importers were Pakistan, Vietnam, Indonesia and China and their imported volumes were 0.50 lakh bales, 0.21 lakh bales, 0.17 lakh bales and 0.09 lakh bales respectively.

Cotton Weekly Export Import Updates

India exported 1.794 lakh bales of cotton last week (08 Feb-14 Feb 2016), which was 2.29 lakh bales previous to last week (01 Feb-07 Feb 2016), according to the data released by IBIS and compiled by Agriwatch. Imports on the other hand stood 0.129 lakh bales last week, which was 0.104 lakh bales previous to last week.

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