Page 5 - Wheat

Wheat markets shrug off Black Sea flashpoints as exports flow: Report

Ukraine said the vessel stopped - the Sukru Okan - was Turkish. A person familiar with the matter said the ship was empty and had unloaded a corn cargo the previous day in Greece

Govt to offload additional wheat, rice via open market to tame prices

On likely cut in wheat import duty, the government said it will take action based on the requirement as things are dynamic and evolving

India to offer 5 million tons wheat to bulk consumers to cool prices

The country has adequate stocks of wheat and rice which the government can release on the open market to stabilise prices, Food Secretary Sanjeev Chopra said

Wheat prices jump to 6-month high on robust demand, limited supply

The government should release stocks from its warehouses into the open market to avoid potential shortages during the festive season, said a Mumbai-based dealer associated with a global trade house

Chicago wheat falls after Russian attack on Ukraine port renews worries

The most-active wheat contract on the Chicago Board of Trade (CBOT) fell 15 cents at $6.37-1/4 a bushel by 10:15 a.m. (1615 GMT), its lowest since July 13 after earlier rising nearly 5%

DGTF invites applications for allocation of wheat quota exports to Bhutan

The government has invited applications from exporters to allocate quota for exports of wheat to Bhutan during 2023-24 on humanitarian and food security grounds. In a trade notice, the DGFT (Directorate General of Foreign Trade) has laid out a detailed procedure for allocation of quota for export of wheat, 'atta' and 'maida' on humanitarian and food security grounds, based on requests received from Bhutan. It said the government has approved export of 14,184 tonne of wheat grain; 5,326 tonne of wheat flour (atta); 15,226 tonne of maida to Bhutan in 2023-24. "Accordingly, applications are invited from exporters for allocation of quota," it said. As per the procedure, the minimum threshold for these products will be 100 tonne by land transport to the neighbouring country. "Application would be allowed only if the exporter applies for quantity more than the minimum threshold," it said. In a separate notification, DGFT said it has banned exports of de-oiled rice bran till November 30

Punjab approves revised process for wheat distribution to beneficiaries

The Punjab Cabinet on Saturday approved a revised mechanism for the distribution of packaged wheat flour or wheat at the doorsteps of beneficiaries by roping in fair price shop owners. The decision in this regard was taken by the council of ministers in a meeting chaired by Chief Minister Bhagwant Mann here, according to an official statement here. The distribution of 'atta' (wheat flour) or wheat shall be allowed in loose quantities, duly weighed, across the counter in ration depots (fair price shops) or in specially-sealed packets delivered at the doorstep of the beneficiary or the nearest motorable point, by the ration depot holder, said the statement. It will be a more dignified way of receiving packaged 'atta' as the beneficiary shall not be required to stand in long queues, especially in inclement weather conditions, it said. Last year, the AAP government's plans of starting home delivery of 'atta' was put on hold after the fair price shop owners moved the Punjab and Haryana

FCI sells 100,000 tn wheat, 100 tn rice in 5th e-auction to control price

State-owned Food Corporation of India (FCI) on Wednesday sold 1.06 lakh tonnes of wheat and 100 tonnes of rice in the 5th e-auction of 2023-24. In order to control the retail price of rice, wheat and atta, the FCI organises weekly e-auctions. The government is committed towards price stabilization and its market intervention is aimed at providing relief to the consumers, the food ministry said in a release. "A quantity of 1.16 lakh tonne wheat from 361 depots and 1.46 lakh tonne rice from 178 depots were offered from across the country," it said. The weighted average selling price was Rs. 2182.68/qtl for fair average quality (FAQ) wheat against the reserve price of Rs. 2150/qtl Pan India whereas weighted average selling price of URS wheat was Rs. 2173.85/qtl against the reserve price of Rs. 2125/qtl. The weighted average selling price was Rs. 3151.10/qtl for rice against the reserve price of Rs. 3151.10/qtl Pan India. In the current tranche of e-auctions, the reduction in retail

Sale of wheat, rice to states under OMSS stopped for buffer, control prices

The Centre on Wednesday said it has discontinued the sale of wheat and rice to states under Open Market Sale Scheme (OMSS) with effect from June 13 to maintain adequate buffer stock and control price rise amid concerns of kharif crop being impacted due to expected shortfall in monsoon rains. This was informed by Minister of State for Food and Consumer Affairs Sadhvi Niranjan Jyoti said in a written reply to the Lok Sabha. "Considering expected deficiency in rainfall caused by El-Nino as speculated by IMD due to which Kharif crop production in country may be adversely affected, and in order to control inflationary trends and to maintain adequate stock levels under central pool for distribution under National Food Security Act and other welfare schemes..., the sale of wheat and rice under Open Market Sale Scheme (Domestic) for State Governments, including Tamil Nadu, has been discontinued with effect from June 13," she said. Replying to a separate question on wheat, the minister said

Release wheat, tur dal to cool prices, Tamil Nadu govt tells Centre

The Tamil Nadu government on Wednesday urged the Centre to allot 10,000 MT each of wheat and tur dal per month from the central stock so that these could be sold through cooperative outlets to cool prices. Writing to Union Food Minister, Piyush Goyal, Chief Minister M K Stalin underlined the 'worrying trends in food inflation' and requested him to take immediate steps to help the state governments mitigate the impact on consumers. The increase of prices of many essential food commodities has burdened poor and middle-class families immensely. Already the inflation rate, as released by the Ministry of Statistics, was high at 12.65 per cent for cereals and products and 6.56 per cent for pulses and products, during May 2023. The recent surge is likely to substantially worsen the situation. Referring to the review meet he held here on the issue on July 10, Stalin said the state government has floated bids for procuring some of the essential items from domestic or foreign producers. The

FCI to sell 4.29 lakh tonne wheat, 3.95 lakh tonne rice in 3rd e-auction

State-owned Food Corporation of India (FCI) will sell 4.29 lakh tonnes of wheat and 3.95 lakh tonnes of rice from the buffer stock to bulk consumers in the third round of e-auction to be held on July 12. The government is offloading wheat and rice from the FCI stock under the Open Market Sale Scheme (OMSS) to bulk consumers to improve the domestic supply and control the retail price of rice, wheat and atta. In the third round of e-auction, the FCI will offer a quantity of 4.29 lakh tonnes of wheat from 482 depots and 3.95 lakh tonnes of rice from 254 depots from across the country, the food ministry said in a statement. FCI has come out with tenders in this regard. Interested parties may empanel themselves for participation in future e-auctions, it said. The FCI is encouraging more small and marginal end users to participate in the weekly e-auctions so that the stocks reach a wider section of the society, it added. In the previous e-auction conducted on July 5, a total quantity of

India donates 10,000 metric tonnes of wheat to Afghanistan amid crisis

The 10,000 metric tonnes of wheat reached the Herat city of Afghanistan on Tuesday, United Nations World for Food Programme (UNWFP) said in a tweet

India approves wheat, broken rice exports requests from 4 countries

India has decided to approve wheat and broken rice exports to few selected countries following their requests to allow the shipments of the grains, the government said

Wheat rises in Paris as US drought may cut grain supply worldwide

Volumes were light as a US holiday deprived Euronext of the usual impetus from Chicago futures.

Chief of UN farm fund lauds India for reviving global focus on millets

The United Nations fund for agricultural development has complimented India for reviving focus on millets and exporting 1.8 million tonnes of wheat to 18 countries that faced an acute shortage of food last year in the wake of the war in Ukraine. Alvaro Lario, the president of the International Fund of Agricultural Development (IFAD), also said that India's G20 presidency has the potential to transform the global food systems as some of New Delhi's focus areas are in sync with the UN body's priorities. In an interview to PTI, Lario, a noted development finance expert, said the Indian expertise could support the agricultural and rural development of other countries in the Global South. "We also appreciate India's exports of wheat - 1.8 million tonnes - to 18 countries facing an acute shortage last year in the wake of the war in Ukraine," he said. Lario was in India to attend the G20 agriculture ministers meeting. The IFAD is a specialised agency of the UN that has been focusing on .

First e-auction of FCI wheat for pvt buyers under OMSS on June 28

State-owned Food Corporation of India (FCI) will offload 3-5 lakh tonne of wheat to small private buyers under the Open Market Sale Scheme (OMSS) via e-auction that will kick start on June 28, its Chairman and Managing Director Ashok K Meena said on Thursday. Under the OMSS, the government has decided to offload 15 lakh tonne of wheat from the central pool flour millers, private traders, bulk buyers and manufacturers of wheat products till March 2024 to check prices. "We will offer 3-5 lakh tonne of wheat in the first e-auction to be held on June 28. The registration process has already begun," Meena told reporters. The reserve price of wheat has been fixed at Rs 2,150 per quintal for fair and average quality and Rs 2,125 per quintal for under relaxed specifications (URS) variety for pan India up to December 31, he said. In the case of rice, the auction will commence on July 5 and the quantity will be offered as per the requirement. The reserve price of rice has been fixed at Rs 3

Retail price inflation for wheat, rice, jeera, tur remains on the boil

Government imposes limits on the quantity of wheat that traders, wholesalers can hold until March 31

Centre imposes stock limits on quantity of wheat to cool down prices

Move comes despite agriculture ministry estimating a record production of the cereal grain this year

Centre imposes stock limits on wheat till March 2024 to check prices

For the first time in 15 years, the government on Monday imposed stockholding limits on wheat with immediate effect till March 2024 in order to contain rising prices of the key commodity. The government also decided to offload 15 lakh tonnes of wheat to bulk consumers and traders from the central pool in the first phase under the Open Market Sale Scheme (OMSS). "There has been an uptick in wheat prices in the past month. There has been an increase of close to 8 per cent at mandi level. Though wholesale and retail prices have not gone up that much, the government has imposed stock limit on wheat..." Food Secretary Sanjeev Chopra told reporters here. The stock limit has been imposed on traders, wholesalers, retailers, big chain retailers and processors till March 31, 2024. On reducing wheat import duty, the Secretary said there are no plans to tweak the policy as the country has enough supplies and even the ban on wheat exports would continue. "The country has enough stock of wheat.

Wheat prices rise following collapse of major dam in southern Ukraine

The collapse of a major dam in southern Ukraine sent global prices of wheat and corn higher. Wheat prices gained 2.4% in early trading Tuesday at the Chicago Mercantile Exchange, to $6.39 a bushel. The cost of corn rose more than 1% (to $6.04 a bushel) and oats gained 0.73% ($3.46 per unit). Prices had jumped higher earlier in the day. The destruction of Kakhovka dam and hydroelectric power station, which sits on the Dnieper River in an area that Moscow controls, raised anxiety about a potential disruption to global supplies. There are massive agricultural fields in Southern Ukraine where the dam burst. Andrey Sizov, managing director of Black Sea agricultural markets research firm SovEcon, said the dam's collapse looks like a big escalation with dire consequences and huge headline risk. This could be just the start of the bull run, Sizov wrote on Twitter. Wheat prices have been falling throughout the year. Citi commodities analysts said Tuesday's incident is a reminder of ling