AP May Import Agri Commodities- Jan 29, 2010

The Andhra Pradesh Government has said that it is planning to import some agricultural commodities, if required.

The government said it would take a call should there be a problem. The government faced with criticism from several quarters on the steep increase in the prices of commodities.

Addressing a press conference here on Wednesday, Mr Jupalli Krishna Rao, Minister for Civil Supplies, said that the Government had registered about 3,000 cases against traders and dealers in the financial year so far and collected Rs 215 crore in penalties.

Stating that the increase in prices was due to the huge demand-supply gap, he said the Government reduced the stock limits further to check hoarding by traders, retailers and distributors.

The Government also imposed restrictions on the movement of certain varieties of paddy and raw rice.

Spices Exports To Cross $1 Billion: Kurien- Jan 28, 2010

The chairman of the Spices Board, VJ Kurien has said that India will soon cross the $1-billion mark in spices export.

Despite the economic recession India was able to export spices worth $830 million last year. Addressing a press conference, Kurien said in the first half of the current year, the export sector was in troubled waters due to the economic downturn. But, exports of chilli, coriander, mint and value-added spices picked up later, he said.

In 2008-09, total exports touched 470,520 tonnes, valued at Rs 5,300.25crore ($1.16 billion).

India accounts for a 44 per cent share in quantity and 36 per cent in value terms of the estimated trade of 850,000 tonnes (valued at $2.2 billion). The board plans to focus on non-traditional markets like Africa and Latin America in order to achieve exports worth $10 billion by 2020. South Africa is expected to be an emerging market for Indian spices and an 11-member delegation from the country will attend the 10th world Spice Congress to be held in New Delhi on February 3-5.

Kurien said the Spices Park at Puttady in Idukki district of Kerala would commence operation in the first week of March and will be a processing hub for cardamom and pepper. Apart from this parks will be coming up in Guntur (Andra Pradesh), Jodhpur (Rajasthan) and Ahmedabad (Gujarat).

Amingaon ICD Tea Exports May Reach Record 3000 TEUs- Jan 27, 2010

Kolkata: During the present fiscal, the tea exports through the Container Corporation of India's Amingaon (Guwahati) inland container depot (ICD) is expected to touch the level of 3,000 TEUs against 2,440 TEUs last fiscal.

"If the throughput level reaches the level of 3,000 TEUs, about which we're very hopeful, it will really be an achievement because never before did Amingaon ICD handle so many boxes of tea exports", according to a spokesman for Concor.

"The last highest throughput was 2,758 TEUs achieved in 1997-98".

There are reasons for confidence. Up to 19 {+t} {+h} rake which just left the ICD, the throughput has been 2,395 TEUs as compared to 2,020 TEUs handled till 19 {+t} {+h} rake last year.

The tea exporters are believed to have assured Concor that, given the present buoyant tea demand in the world market, it should be possible to push another 600 TEUs or so till March.

Pepper Futures Drop- Jan 25, 2010

On Friday, pepper futures reported fall. The market fell sharply in the forenoon and recovered later to close marginally down.

The statement of the Union Minister of State for Agriculture and Consumer Affairs, Prof K.V. Thomas, in Kochi on Friday at a function organized by the India Pepper and Spices Trade Association (IPSTA) that the prices of all commodities have to be brought down, pulled down the prices, trading sources alleged.

February contract on the NCDEX on Friday fell by Rs 79 a quintal to close at Rs 13,223. March and April contracts eclined by Rs 82 and Rs 114 respectively to close at Rs 13,500 and Rs 13,800 a quintal. Total turnover increased by 1,071 tonnes to 5,341 tonnes. Total open interest dropped by 193 tonnes to 10,990 tonnes.

February open interest dropped by 282 tonnes to 8,199 tonnes. March and April went up by 59 tonnes and 29 tonnes respectively. Spot prices in tandem with the futures market trend despite good buying support dropped by Rs 100 to close at Rs 12,900 (ungarbled) and Rs 13,400 (MG 1) a quintal.

NAFED To Import 25000T Of Yellow Peas- Jan 22, 2010

National Agricultural Co-operative Marketing Federation (NAFED) has floated a . The move is aimed to import 25,000 tonnes of yellow peas for shipment on March 10 on the eastern ports, the state-run company said.

The company has also tendered to import 2,000 tonnes, or in multiples of 1,000 tonnes each, of black matpe, green moong, tur whole, red lentils and chick peas for the Feb-Mar shipment. The last date for submission of both bids is January 27, the company said on its website late on Tuesday.

Spot Rubber Remains Steady- Jan 21, 2010

Kottayam: On Wednesday, spot rubber finished unchanged on closed at unchanged mark. Though the domestic futures continued to be in the grips of bears, physical prices sustained at current levels, an analyst said. Sheet rubber closed flat at Rs 139.50 a kg and there were no fresh enquiries from major consuming industries.

RSS 4 weakened with February futures declining to Rs 141.65 (142.81), March to Rs 144.60 (145.57), April to Rs 148.59 (149.45) and May to Rs 151.62 (152.58) a kg on National Multi Commodity Exchange (NMCE). RSS 3 firmed up to Rs 147.07 (144.61) a kg on Singapore Commodity Exchange (SICOM). The grade moved up to Rs 147.37 (145.50) a kg at Bangkok. On the Tokyo Commodity Exchange, January futures improved to yen 293 (yen 291.7) (Rs 148.08), February to yen 291.8 (yen 289.3) and March to yen 294.5 (yen 291.2) a kg for RSS 3 during the day session on Tokyo Commodity Exchange (TOCOM).

Spot rates were (Rs/kg): RSS-4: 139.50 (139.50); RSS-5: 133.50 (133.50); ungraded: 130 (130); ISNR 20: 133.50 (133.50) and latex 60 per cent: 91 (91).

Biotech Sector May Double To $5 Billion By 2011- Jan 20, 2010

Kiran Mazumdar-Shaw, CMD of Biocon Ltd said by 2015, India's biotechnology sector will turn into an industry worth $10 billion and by next year, it is likely to grow to $5 billion as compared to $2.51 billion in 2008-09.

Mazumdar-Shaw said the India's biotechnology industry is at an incursion point, and accomplished a vital goal. At the moment, it has a platform from where it can move ahead and bring exponential growth.

Moreover, she added that today, India is becoming the Vaccine capital of the world. Bio-manufacturing offers a huge prospective and there are signs of many global contract manufacturers, to shift their foundation from Europe to Asia, and this move will benefit the India.

She said clinical trials, agri-biotech and bio-fuels are becoming opportunities and there are a lot of drivers and trigger points which will carry in the next 5 years.

Department of IT, bio-technology and science and technology (Karnataka), Vision Group on Biotechnology announced that the 10th edition of Bangalore Bio, rechristened Bangalore India Bio is scheduled to be held from 2 - 4 June in Bangalore.

As the biotechnology sector expects to grow fast, it may encounter the hurdles in its way like - poor human resources, where the industry finds it hard to acquire industry-ready graduates. Therefore, Karnataka has decided to opt for 10 institutions with the facilities to have finishing schools with emphasis on specialised skill development to make industry-ready graduates in biotechnology. Where, a sum of Rs 10 crore has been already been allocated to support the finishing schools.

Mr. Arjula R Reddy, Co-chairman of the high-power genetic engineering approvals committee (GEAC) had said earlier that China has become the first country to give the bio-safety approval for the development of Bt rice varieties and also took a step in producing the Bt rice.

Besides this, Kiran Mazumadar has extended her strong support for introduction of Bt Brinjal for commercial cultivation in the country as ``biotechnology is a safe science and regulated technology.'

She said that the introduction of Bt Brinjal must be viewed on a scientific basis and not governed by unfounded fears as it would lead to creating needless fear psychosis among the people.

47% Dust Teas Unsold At Coonoor Auction- Jan 19, 2010

Continuing with the trend of the past one month, Homedale Tea Factory got the top bid at Sale No: 2 of the e-auctions of Coonoor Tea Trade Association when the market opened after Pongal holidays.

"Our Broken Pekoe (BP), auctioned by Global Tea Brokers, got the highest price of Rs 133 a kg in the leaf market. Our Pekoe Dust (PD) got the highest price of Rs 132 in the dust market. As many as seven of our grades got Rs 108 and more," Mr Prashant Menon, Homedale Managing Partner, said.

Darmona Estate closely followed. "Our teas got the second highest bid of Rs 128.50 in the leaf and Rs 128 in the dust market. Four of our grades got Rs 120 and more," Mr Dinesh Raju, Darmona Managing Partner, said. In all, 68 grades fetched Rs 100 and more.

In so far as 27 per cent of leaf and 47 per cent of dust offered remained unsold continuing with the trend of the past two months.

Gems Council Warns Of Pullout From China- Jan 18, 2010

The apex body set up by the Union ministry of commerce to monitor the jewellery business overseas, Gems & Jewellery Export Promotion Council (GJEPC), says it is planning to pull out of the diamond cutting and polishing business in China.

This plan follows last week's confinement of 21 Indian diamond merchants in Shenzen province. "If the Chinese government has taken this step as a retaliatory action for the arrest of three Chinese engineers in India (in connection with the industrial accident last September at Balco's Korba unit, killing 41), we will have to consider pulling out from China," said GJEPC Chairman Vasant Mehta, on the sidelines of a seminar here.

Chinese police had detained the Indians on allegations of smuggling diamonds from Hong Kong to China and vice versa. The Chinese police said many of these Indians were part of a big smuggling ring.

External affairs ministry officials, however, rejected the retaliation explanation.

Commodity Exchanges Find A Way Out To Beat Sun Outage- Jan 15, 2010

Commodity exchanges finding way to beat sun outage. The NCDEX is asking its members to connect through an alternative mode instead of VSAT (very small aperture terminal) starting February 20.

MCX has managed to overcome sun outage problem by using advance Data Networking technology jointly provided by the BSNL and MTNL for the last five years.

Sun outage occurs when a satellite and earth are in perfect position. During this period, the interference in satellite signals disturbs VSAT, a two-way satellite ground station, through which trading terminals are connected. Exchanges have been changing or suspending trade timing by 45 minutes during sun outage.

"The exchange has decided that during the sun outage period market would not be suspended and trading would continue in the normal course," NCDEX said in a circular.

Barring VSATs, leased lines through point of presence, multi-protocol label switching and Internet remain unaffected during the sun outage, NCDEX added.

Pepper Futures Close Lower - Jan 14, 2010

On 13th January, the pepper futures witnessed high volatility and closed marginally lower from the previous close. The market recovered later as some bought back their sales while others switched over, though there was liquidation by long position holders of 774 tonnes of January contract, market sources said. The January contract on the NCDEX was lower by Rs 26 to close at Rs 13,279 a quintal. February and March declined by Re 1 and Rs 4 respectively to close at Rs 13,530 and Rs 13,763 a quintal. Total turnover dropped by 2,690 tonnes to 7,047 tonnes. Total open interest also delined by 292 tonnes to 12,237 tonnes.

Pepper Futures Report Fall - Jan 13, 2010

Kochi. On Tuesday, pepper futures reported fall and consequent bull liquidation resulting in all the contracts closing below the floor levels.

According to market sources, reports of Vietnam easing its prices aided the bearish activities. Besides, there was no demand from overseas while the domestic demand was being met directly from the primary markets by inter-State operators.

January contracts on NCDEX dropped by Rs 476 to close at Rs 13,270 a quintal while that of February and March declined by Rs 405 and Rs 419, respectively, to close at Rs 13,515 and Rs 13,736 a quintal.

Total turnover increased by 2,978 tonnes to 9,737 tonnes.

Total open interest declined by 824 tonnes to 12,527 tonnes. January open interest fell by 1,326 tonnes to 4,506 tonnes wile February and March moved up by only 395 tonnes and 90 tonnes, respectively.

Coffee Board For Early Release Of Debt Relief - Jan 12, 2010

The Coffee Board has recommended the government to announce the long-pending Coffee Debt Relief Package at the earliest. Coffee Board want early release of debt relief due to the recent heavy rains and subsequent damage to the standing coffee crops in parts of Karnataka.

The board said that more than the damage to the standing crop, the growers may be affected due to the pre-mature blossom in major growing areas.

It is estimated that nearly 30-40 per cent of the Arabica cherries and 10-20 per cent of the robusta crop have been lost following the unseasonal and widespread heavy rains between December 25th and December 30th last year, in some coffee growing regions of Karnataka including Chikmagalur, Sakaleshpur and Kodagu. Overall, an estimated 30,000 tonnes of coffee output has been lost due to the rains.

Campco Expands Chocolate Production Capacity - Jan 11, 2010

The Central Arecanut and Cocoa Marketing and Processing Co-operative (Campco) Ltd is a well-known player in domestic chocolate market. At present, it is geared up to produce more finished and semi-finished cocoa products with the expansion of its chocolate manufacturing unit at Puttur in Dakshina Kannada district.

Mr S.R. Rangamurthy, President of Campco, said that the co-operative had expanded its chocolate factory at Rs 7.5 crore.

The total production capacity of the factory has been increased from 12,000 tonnes a annum to 17,000 tonnes a annum. Meanwhile, the co-operative has increased the production capacity of products such as éclairs, chocomass and chocochips with this expansion.

Till three years ago, total production capacity of the factory was at 9,000 tonnes a annum. This was subsequently increased to 12,000 tonnes a annum. During 2008-09, the chocolate factory produced 10,435 tonnes of finished and semi-finished cocoa products.

Global Coffee Exports Fall - Jan 08, 2010

Coffee exports all over the world have dropped 7.8 per cent to 13.4 million bags (1 bag= 60 kg) during the first two months of the 2009-10 crop year. Meanwhile, exports from India have increased more than 20 per cent to 516,000 bags in the same period, the International Coffee Organization (ICO) has said. The coffee year runs from October to September.

"Exports during October-November period of the 2009-10 coffee year have decreased 7.8 per cent to 13.4 million bags compared to 14.5 million bags in the same period last coffee year," the ICO has said in a statement.

Global coffee export figures remained depressing due to a sharp fall in shipments from Brazil, the world's largest coffee producer.

During the October-November period, overseas sale of coffee bean from Brazil declined 11.11 per cent to 5.34 million bags from 6.01 million bags in the corresponding period last year.

According to the ICO, India's coffee exports increased 20.5 per cent to 516,000 bags from 428,000 bags in the first two months of the current crop year. Besides, Vietnam's coffee exports also reported rise to 1.87 million kg from 1.62 million kg, it said.