India’s soaring wage bills may revive tea prices

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India’s buoyant wage and fertilizer costs, part of the inflationary picture which prompted the country to go against the grain in raising interest rates, may revive flagging tea prices, which have fallen to a two-year low. Malcolm Perkins, chairman of Camellia, the avocado-to-citrus grower, flagged "considerable concern" across the tea industry in India, the world’s…


Aussie farm flags wheat tactic as price fears rise

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JPT Capital trumpeted the call by its Australian farms to lock in firm wheat prices by selling in advance even as data showing the country’s wheat stocks at a record high raised fears for values. The Monaco-based fund management group said that forward selling "a percentage" of the newly-started wheat harvest at prices "above current…


Kazakh wheat price falls to half world levels

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Kazakh wheat prices fell to roughly half international levels, and to below the cost of transporting the grain to port, depressed by a shortage of silo space which has left farmers storing grain in rail wagons. Prices of third grade milling wheat at the Kazakhstan border with Russia tumbled over August and September by 40%…


Twin boost to hopes for Aussie milling wheat price

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Prospects for prices of high-grade Australian wheat received a double boost on Tuesday as speculation mounted over large Chinese buying, and forecasters predicted quality-threatening rains. Speculation last week, reported by Agrimoney.com, that China had bought 1m tonnes of Australian wheat firmed into a report on Reuters of a purchase of 500,000 tonnes, of milling-grade grain.…


China acknowledges need for sizeable corn imports

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China acknowledged what analysts have long proclaimed, that it will make substantial corn imports, to keep its huge hog herd in feed and meet growing demand for pork among its enriched population. The China National Grain and Oils Information Centre, China’s official crop think tank, pegged the country’s corn imports in 2011-12 at a record…


India may re-impose 70% import duty on non-basmati rice

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  NEW DELHI (Commodity Online): On the back of surplus rice production, India may re-introduce import duty of 70% duty on semi and wholly-milled non-basmati rice from November. The import duty on rice varieties were under zero tax law for the past two years from 2009 as the rice production in India remained low during…


India CCEA pegs Rabi wheat MSP at Rs.1285

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NEW DELHI(Commodity Online): India’s Cabinet Committee on Economic Affairs(CCEA), the high-power ministerial group, on Tuesday approved the MSP (Minimum Support Price) for Rabi Crops of 2011-12 season to be marketed in 2012-13. The MSP of Wheat has been fixed at Rs.1285 per quintal marking an increase of Rs.165 per quintal over the last year’s MSP.…


Understanding rice varieties, the consumer guide

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A long time ago, I was told, “Rice is to Asians what wine is to Europeans.” Wine is linked to Europe’s culture and cuisines as closely as rice is to Asia’s. Both rice and wine have myriad differences, but both are influenced by the environmental conditions under which the crop is grown. Each domesticated rice…


China 2011 corn output pegged at record 184.5 mn tons

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BEIJING(Commodity Online): If the estimates of a Chinese think tank is anything to go by, China’s 2011 Corn output may rise 3.93% from last year to a record 184.5 million tons. In a report in Reuters, The China National Grain and Oils Information Centre (CNGOIC) has revised up its estimate for corn production by 2…


India basmati rice production to gain 15.3% to 7.5 mn tonnes in 2011-12

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NEW DELHI (Commodity online): India’s Basmati Riceproduction is expected to increase by 1 mn tonnes in 2011-12 due to good weather conditions in Punjab, Haryana and Western Uttar Pardesh. The nation produced 6.5 million tons of basmati rice in 2010-11 which is expected to record 15.3 % growth to 7.5 mn tones in 2011-12 harvest.…


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