Maharashtra government decides to pay FRP as the first advance of sugarcane price

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PUNE: A sub-committee on the state cabinet decided to fix the fair and remunerative price (FRP) declared by the central government as the first advance of cane payment for the sugar year starting October 2011. The state is expected to crush record sugar cane in the next sugar season. In the current sugar year, the…


Cotton subsidies top $1.3bn – despite record price

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World cotton producers received $1.3bn in subsidies despite market prices doubling to a record high, with farmers in some countries enjoying a rise in state support. Prices of cotton, as measured by the Cotlook A index, averaged 1.64 cents a pound in 2010-11, up from 0.78 cents a pound the season before. With output rising…


Barclays: Future of wheat price is tightly coupled with corn

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Wheat market fundamentals are less compelling than Corn or even soybeans, but substitution in demand and supply will mean the trajectory of corn prices will have a decisive effect on how Wheat trades, says Barclays Poor weather in key producers has not affected production, while a return of Black Sea exporters and a record Indian…


China to Import More Pork

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CHINA – The central government is thought to be considering importing more pork in order to bring food inflation under control. China is expected to import more pork in the future if the domestic price of the country’s staple meat continues to rise, experts said. An official source reports that China’s consumer price index, an…


Corn stocks ‘to prove even tighter’ than USDA says

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The squeeze on US corn supplies may be even stronger than shown by US data, implying a tightening to historic lows, given potential underestimates to demand from ethanol plants and foreign buyers, Standard Chartered said. The bank, saying corn futures may continue rising into 2012, hiked its corn price forecasts by up to $1.25 a…


Price of meat, vegetables to rise

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HA NOI — The price of meat and vegetables in the domestic market will not stabilise in the near future, according to experts. During a meeting in Ha Noi on Monday, ministries discussed strategies to reduce the cost of produce. Deputy director of the Cultivation Department Pham Dong Quang said that in recent weeks, the…


Vietnam food prices climb amid inflation battle

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Meat and vegetable prices have spiraled out of control in recent months, putting Vietnamese officials in a bind as they try to beat back inflation. Nguyen Xuan Duong, deputy head of the Department of Husbandry, said food prices have increased by 40-60 percent since April. The price of pork in particular surged 70 percent, he…


EXPORTERS CRY FOR HELP AS LOCAL COFFEE PRICE SOARS

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HCM CITY — The domestic prices of robusta coffee beans have been higher than the closing price at the London terminal market, causing huge losses to local exporters who are suffering a shortage of coffee. Last Thursday and Friday, in interviews on Viet Nam Television’s VTV1 Channel, local traders blamed international speculators for their losses…


Radiation fears lift Japan rice futures on debut

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Radiation fears fuelled a rise in rice futures on their first day of trading in Japan for 72 years, in an apparent signal of the premium buyers are prepared to pay for certified supplies of the grain. While no trades were completed on the Tokyo Grain Exchange, buy and sell orders were placed some 35%…


Sugar prices are on the up

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Over the last couple of months “two commodities stood out from the pack”, says research group Capital Economics. Wheat has been a poor performer, down by a fifth since the start of June, as “prices were undermined by the ending of Russia’s export ban”. Yet wheat remains historically expensive and, with Russian supplies set to…


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