Market Reports : Indian wheat rise in prices to $285-290 a tonne for May delivery from a low of $265 a tonne in January.

Indian wheat prices remain firm in the global market with no signs of an ease off in the Ukraine-Russia crisis. Delayed harvesting of wheat in Rajasthan and parts of Gujarat owing to cool weather is also attributed to the rise in prices to $285-290 a tonne for May delivery from a low of $265 a tonne in January.

However, in the volatile market industry sources say that private exporters are not keen on further forward contracts and adopt a wait and watch policy.

"If the crisis in Ukraine-Russia continues we may see bulk buyers flocking to India and domestic prices may go up due to sudden demand pull," said Tejinder Ji grain analyst. Indian wheat prices are currently the cheapest compared to Australian, Russian and French.

Exporters state that wheat was sold on multi-origin basis and specification and Indian wheat could soon see arise in demand. "India wheat will be blended with high priced wheat from European Union for Middle East market. The contract size will fall to 20,000 tonne from 50,000-60,000 tonne as being done earlier due to uncertain global and domestic market," said a global player in wheat trade.

According to some exporters the buyers were ready to buy wheat at even $290 a tonne, but sellers were reluctant in hopes of prices to firm further amid reports of Rajasthan government likely to give bonus to wheat farmers this season. "I have been able to only buy 500 tonne wheat from around Rajkot in Gujarat as supplies have been low," said another global grains and oil seeds company official.

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New Crop -Indian Milling Wheat Daily Price 

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1.New Crop -Indian Milling Wheat (Min 12% Protein) April & May 2014 Shipment 

Packing : Loose In Container 

CNF Kalang 303 usd & Panang Port Malasiya 305 usd / Mt
CNF Colombo Srilanka 311 usd / Mt
CNF Kaohsiung and Taichung & Taiwan Port 306 usd / Mt
CNF Jakarta / Surabaya, Belawan Indonesia 312 usd / Mt

 

Rates Shown above are not our offer price, this is only to make you aware about the market.

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Reports: Heavy rains affect Rabi crops (20-25% of wheat plant has got damaged) in MP Feed Grain Agri Brokers

Another spell of heavy rainfall on Wednesday has destroyed hopes of farmers in Madhya Pradesh, which has been receiving torrential rains for the last two days.

Farmers have had no respite from rainfall during the last 24 hours and many districts, according to local weatherman, have received record rainfall in the last 24 hours.

"Bhopal has received 39.4 mm rainfall in the last 24 hours, which has never been recorded since 1935 when the weather observatory was established. Also, Dewas recorded 42 mm rainfall while Hoshangabad, Harda, Indore, Raisen and Vidisha received 28 mm, 22 mm, 31 mm, 28 mm and 20 mm rainfall respectively in the last 24 hours," said DP Dubey, director, Bhopal Meteorological department.

He has cited frequent and prolonged western disturbances for the unseasonal rainfall and this situation, he added, is likely to continue for another 24 hours.

According to farmers welfare and agriculture department, hailstorm struck 640 villages in 18 districts of the state. Hailstorm struck 93 villages in Seoni district, 90 in Dewas, 80 in Raisen, 72 in Umariya, 57 in Neemuch, among others.

According to the department, 37 districts have received rainfall between 15 mm and 50 mm in the last three days.

"The most-affected districts are Bhopal, Indore, Neemuch, Raisen, Balaghat, Hoshangabad, Dewas where damage to chana, masoor and wheat crops may rise, particularly in those areas where wind velocity is very high," Rajesh Rajora, principal secretary of the department said.

The local weather department also confirmed that barring 19 districts, almost all districts have received heavy rainfall or hailstorm. "Crop loss estimation will be difficult at this time but wheat has suffered the maximum damage. At least, 20-25% of wheat plant has got damaged," a senior official in agriculture department said.

"Normally this disturbance is observed in the last week of December or in the second week of January. The western disturbances and Nor'westers, which have resulted in rainfall and hailstorm, seems to be advancing eastwards and towards western Madhya Pradesh from tomorrow," Dubey said.

Madhya Pradesh is expecting production of more than 3 million tonnes of gram this year and 19.2 million tonnes of wheat. The state's total Rabi output last year (2012-13) stood at 21.26 million ton with per hectare yield of 2,038 kg.