Tight global supplies to continue driving India’s maize exports till May
USDA, FAO project tight supplies, lower end stocks
Maize (corn) exports from India are expected to go on till May with global supplies projected to be tight this year and demand continuing from Malaysia and Vietnam.
The Food and Agriculture Organization (FAO), a UN arm, and the US Department of Agriculture have both projected that the ending stocks this marketing season (July 2020-June 2021) would be lower compared with last year. Both agencies have, however, raised the ending stocks in their reports this month on higher production estimates.
The FAO’s Agricultural Marketing Information System (AMIS), in its report for this month, said maize ending stocks will be 275.7 million tonnes (mt) against 301.7 mt. The ending stocks size for this season has been raised by two mt from last year.
Ramadan demand from West Asia for cardamom raises exporters’ hopes
Delay in Guatemala crop due to inclement weather and the spice selling 30 per cent higher than Indian cardamom present a good opportunity
The cardamom trade plans to focus more on the Gulf markets as its expects the revival of export demand during the forthcoming Ramadan festival that falls in the middle of May.
As the fasting ahead of Ramadan starts from April 15, export enquiries are coming in for Indian cardamom, especially from Saudi Arabia. Exporters are gearing up to cater to the demand for export quality 7-8 mm grades, currently hovering at ₹1,700-1,900 per kg.
NCML Surakshit Mandi’s auction volumes top 10,000 tonnes
Post-harvest management company National Collateral Management Services Limited (NCML) said on Wednesday that it has achieved over 10,000 tonnes auction quantity under its Surakshit Mandi project for which the value of the commodity is more than ₹10 crore.
NCML had initiated the programme during the lockdown to help farmers in selling their crops through its warehouses. Surakshit Mandi provides a direct platform to farmers to get the right price, timely and affordable credit and has also ensured a safe and easy transaction. It uses the latest RBI-approved escrow accounts, provides an e-wallets payment gateway, the company said in a statement.
