Coimbatore: The total offerings of tea at the weekly auction held here on Sept 4 totaled to 4.70 lakh kg with leaf grades accounting for 2 lakh kg and the balance 2.70 lakh kg of dust. Well made Nilgiri larger leaf and brokens continued firm, fannings quoted lower by Re 1-Rs 2. CTC leaf saw only fair demand. Best sorts were quoting lower, medium bolder grades ruled firm and the remaining teas were lower by up to Rs 2/ kg. HUL was absent, Tata silent, internal demand limited and exporters operated only on bolder grades.
Showing posts with label Coimbatore. Show all posts
Showing posts with label Coimbatore. Show all posts
Thursday, September 4, 2008
Monday, May 19, 2008
Maize Prices Last Week Held Ground At Rs 7,200 A Tonne
Coimbatore: Market yard maize prices last week held ground at Rs 7,200 a tonne, though it is marginally lower compared to the previous week prices.
The delivered maize prices in Gujarat is quoted at Rs 8,400, while the same in Hyderabad is between Rs 7,900 and Rs 8,000 a tonne, according to the weekly commodity price quotes issued by the US Grains Council India market reports.
The maize export from India remained strong. The f.o.b. value of exports via Kandla is quoted at $205 per tonne and the delivered maize price to South-East Asian destination from India is quoted at $260 a tonne.
The report said that with import of India’s maize into Pakistan having opened, maize movement is on from Andhra, Karnataka and to some extend from Bihar.
Bajra, sorghum
The reports said that while bajra prices last week paled by five per cent to Rs 7,330 a tonne on improved arrivals in Rajasthan, UP and Gujarat, sorghum prices stood up by 12 per cent over the previous week at Rs 11,390 a tonne.
Barley
The barley prices remained stable at Rs 10,190 a tonne.
The corn price at the Chicago board of trade is quoted at $232 a tonne for the July shipment and the shipment for September is put at $237.
The delivered maize prices in Gujarat is quoted at Rs 8,400, while the same in Hyderabad is between Rs 7,900 and Rs 8,000 a tonne, according to the weekly commodity price quotes issued by the US Grains Council India market reports.
The maize export from India remained strong. The f.o.b. value of exports via Kandla is quoted at $205 per tonne and the delivered maize price to South-East Asian destination from India is quoted at $260 a tonne.
The report said that with import of India’s maize into Pakistan having opened, maize movement is on from Andhra, Karnataka and to some extend from Bihar.
Bajra, sorghum
The reports said that while bajra prices last week paled by five per cent to Rs 7,330 a tonne on improved arrivals in Rajasthan, UP and Gujarat, sorghum prices stood up by 12 per cent over the previous week at Rs 11,390 a tonne.
Barley
The barley prices remained stable at Rs 10,190 a tonne.
The corn price at the Chicago board of trade is quoted at $232 a tonne for the July shipment and the shipment for September is put at $237.
Wednesday, May 14, 2008
Fair Demand At Coimbatore Tea Sales
Coimbatore: The offerings of tea at the weekly auction held here on Friday totaled 6.03 lakh kg with leaf grades accounting for 2.02 lakh kg and the balance 4.01 lakh kg comprising dust.
Limited quantity of orthodox leaf on offer met with fair demand. CIS exporters lent fair support.
Limited quantity of orthodox dust grades sold around last.
HUL selective
There was fair demand for the CTC leaf. The best teas remained irregular around last, the bolder grades and plainer sorts quoted lower by Re 1 and the better liquoring smaller brokens and fannings ruled dearer. There were some withdrawals on bolder brokens. While HUL was selective, exporters lent fair support.
Good liquoring popular CTC dust and better medium grades ruled steady. HUL operated selectively.
The best CTC teas moved in the Rs 57 – Rs 64 price band, while the medium orthodox dust was slightly lower ranging between Rs 50 and Rs 57. Good CTC dust teas quoted between Rs 65 and Rs 68.
Limited quantity of orthodox leaf on offer met with fair demand. CIS exporters lent fair support.
Limited quantity of orthodox dust grades sold around last.
HUL selective
There was fair demand for the CTC leaf. The best teas remained irregular around last, the bolder grades and plainer sorts quoted lower by Re 1 and the better liquoring smaller brokens and fannings ruled dearer. There were some withdrawals on bolder brokens. While HUL was selective, exporters lent fair support.
Good liquoring popular CTC dust and better medium grades ruled steady. HUL operated selectively.
The best CTC teas moved in the Rs 57 – Rs 64 price band, while the medium orthodox dust was slightly lower ranging between Rs 50 and Rs 57. Good CTC dust teas quoted between Rs 65 and Rs 68.
Wednesday, March 12, 2008
Prices Rule Firm At Coimbatore Tea Auctions
Coimbatore: The total offerings at Friday’s weekly auction rose to 4.15 lakh kg, with leaf grades accounting for 1.40 lakh kg and the dust comprising 2.75 lakh kg.
There was fair demand for small volumes of orthodox leaf grades. Select well-made invoices of Nilgiri highgrowns ruled dearer by Rs 2-3, while others remained firm. CIS exporters lent fair support.
Limited quantity of the orthodox dust was on offer and these were quoting dearer by Rs 2 a kg.
The best CTC leaf grades remained firm to dearer, while the medium, plainer and bolder grades and fannings quoted dearer by Rs 2 and at times more. Exporters were active, but HUL was selective.
There was strong demand for the CTC dust grades. Best and good liquoring teas were firm to dearer by Re 1.
There was fair demand for small volumes of orthodox leaf grades. Select well-made invoices of Nilgiri highgrowns ruled dearer by Rs 2-3, while others remained firm. CIS exporters lent fair support.
Limited quantity of the orthodox dust was on offer and these were quoting dearer by Rs 2 a kg.
The best CTC leaf grades remained firm to dearer, while the medium, plainer and bolder grades and fannings quoted dearer by Rs 2 and at times more. Exporters were active, but HUL was selective.
There was strong demand for the CTC dust grades. Best and good liquoring teas were firm to dearer by Re 1.
Tuesday, March 11, 2008
Maize Prices Move Up
Coimbatore: Maize prices have firmed up over the week.
While the market yard price has risen by about five per cent at Rs 7,550 per tonne over the previous week, there has been a surge in the spot rates as well.
Maize spot price at Davangere was quoted at Rs 7,020 per tonne, while the same at Nizamabad and Karimnagar was quoted at Rs 7,550 and Rs 7,442 respectively which are marginally higher compared to the previous week price quotes.
Forward quotes
According to the US Grains Council India market reports, the maize rates for May and June deliveries have moved up to Rs 8,955-9,350 per tonne respectively from the previous week’s Rs 8,900-9,150.
The reports said with the Pakistan removing import duty on maize, there has been enquiries for import of India’s maize and the reported price offer of $250 (CNF Pakistan) is quoted for the end users in Pakistan for the supplies via Wagah border post.
While the market yard price has risen by about five per cent at Rs 7,550 per tonne over the previous week, there has been a surge in the spot rates as well.
Maize spot price at Davangere was quoted at Rs 7,020 per tonne, while the same at Nizamabad and Karimnagar was quoted at Rs 7,550 and Rs 7,442 respectively which are marginally higher compared to the previous week price quotes.
Forward quotes
According to the US Grains Council India market reports, the maize rates for May and June deliveries have moved up to Rs 8,955-9,350 per tonne respectively from the previous week’s Rs 8,900-9,150.
The reports said with the Pakistan removing import duty on maize, there has been enquiries for import of India’s maize and the reported price offer of $250 (CNF Pakistan) is quoted for the end users in Pakistan for the supplies via Wagah border post.
Tuesday, February 26, 2008
Maize Futures Close Higher
Coimbatore: Maize futures has closed higher in the Rs 8,140-8,490 per tonne range for the March/April deliveries as compared to current market yard prices (loose) which are quoted at Rs 7,200-7,300 per tonne, according to market reports. Run-up to Budget 2008-09
The May and June 2008 deliveries are quoted even higher at Rs 8,800-8,990 per tonne respectively.
According to the US Grains Council India market report for the just ended week, with the demand for Indian maize in export market remaining firm, the prices have started to show a firm trend after a little lull. Another reason for higher futures prices is the anticipated lower rabi crop which is expected to be around 2.54 million tonnes as against last year’s crop of 3.54 mt.
The report also stated that maize price in spot market too rose this week with Ratlam and Nimbaheda market quoting at Rs 8,300 and Rs 8,375 per tonne respectively, while the prices in Karimnagar and Davangere markets were prevailing at Rs 7,217 and Rs 6,877 per tonne.
The US maize prices kept moving up along with higher freight giving support to export of maize from India to South-East Asian markets. For example, the US Gulf maize prices on f.o.b. were indicated at $228-229 per tonne and the freight cost to Japan was at $107 per tonne, making the aggregate delivery cost at $325-326 per tonne. Whereas Indian corn at a quote of $235 per tonne (f.o.b. and freight quoted at $38-40 per tonne for the South Asian destinations, the delivery cost would work out at $275-280 per tonne. With the cost differential of $40 per tonne between Indian and the US corn, another round of buying by exporters could not be ruled out, the report added.
The May and June 2008 deliveries are quoted even higher at Rs 8,800-8,990 per tonne respectively.
According to the US Grains Council India market report for the just ended week, with the demand for Indian maize in export market remaining firm, the prices have started to show a firm trend after a little lull. Another reason for higher futures prices is the anticipated lower rabi crop which is expected to be around 2.54 million tonnes as against last year’s crop of 3.54 mt.
The report also stated that maize price in spot market too rose this week with Ratlam and Nimbaheda market quoting at Rs 8,300 and Rs 8,375 per tonne respectively, while the prices in Karimnagar and Davangere markets were prevailing at Rs 7,217 and Rs 6,877 per tonne.
The US maize prices kept moving up along with higher freight giving support to export of maize from India to South-East Asian markets. For example, the US Gulf maize prices on f.o.b. were indicated at $228-229 per tonne and the freight cost to Japan was at $107 per tonne, making the aggregate delivery cost at $325-326 per tonne. Whereas Indian corn at a quote of $235 per tonne (f.o.b. and freight quoted at $38-40 per tonne for the South Asian destinations, the delivery cost would work out at $275-280 per tonne. With the cost differential of $40 per tonne between Indian and the US corn, another round of buying by exporters could not be ruled out, the report added.
Tuesday, February 19, 2008
62 Tea Samples Short-Listed For Golden Leaf India Awarda
Coimbatore: Sixty-two tea samples out of the 213 entries received at the 4th edition of The Golden Leaf India Awards: Southern Tea Competition (TGLIA:STC), have been short-listed for the second and final round. The finale of the 4th edition is to be held in Dubai on February 19 and will coincide with the Global Dubai Tea Forum 2008, industry sources said. Run-up to Budget 2008-09
The first level of screening was held on February 2 at Coonoor, when a eight-member jury comprising tea brokers, buyers and tasters evaluated the 213 entries received for the competition.
The initial screening was done to position the teas appropriately in the national and international markets based on quality attributes. The short-listed teas were subsequently screened for pesticide residues and heavy metals at the UPASI Tea Research Foundation.
Final testing
The UPASI Secretary General, Ullas Menon, said all the 62 samples passed the technical analysis test and moved to the final round.
A panel of international jury comprising Kurush Bharucha (Unilever Gulf FZE, UAE), Liubov Bahareva (Orimi Trade KSC, Russia), Mohsin Saify (Tapal Tea Pvt Limited, Pakistan) and Richard Smyth (James Finlay, UAE) will taste these South Indian teas at the Global Dubai Tea Forum on Tuesday and pick the prize-winning entries.
The award-winning teas are proposed to be marketed at the Dubai Tea Forum, Menon said.
The first level of screening was held on February 2 at Coonoor, when a eight-member jury comprising tea brokers, buyers and tasters evaluated the 213 entries received for the competition.
The initial screening was done to position the teas appropriately in the national and international markets based on quality attributes. The short-listed teas were subsequently screened for pesticide residues and heavy metals at the UPASI Tea Research Foundation.
Final testing
The UPASI Secretary General, Ullas Menon, said all the 62 samples passed the technical analysis test and moved to the final round.
A panel of international jury comprising Kurush Bharucha (Unilever Gulf FZE, UAE), Liubov Bahareva (Orimi Trade KSC, Russia), Mohsin Saify (Tapal Tea Pvt Limited, Pakistan) and Richard Smyth (James Finlay, UAE) will taste these South Indian teas at the Global Dubai Tea Forum on Tuesday and pick the prize-winning entries.
The award-winning teas are proposed to be marketed at the Dubai Tea Forum, Menon said.
Saturday, February 16, 2008
Estimate Cotton Crop Accurately
Coimbatore: Indian Spinning Mill owners Association (ISMA) has asked the Centre to facilitate correct estimation of the domestic cotton production so as to fix the surplus available for exports.
The association has also suggested for assessing the actual working spindle-age and the correct estimation of the volume of fabric produced in the country.
LACK OF POLICY SUPPORT
In a representation to the Prime Minister, the ISMA President, R. Chinniayan, said the current crisis facing the textile industry was partly due to lack of policy support from the Government.
He wanted the shortfall in the raw material supply situation to the textile industry, namely cotton production, be addressed by encouraging cotton production through better seed varieties. Run-up to Budget 2008-09
Sufficient funds should be allocated to the agricultural R&D for seed development.
Check on exports
Chinniayan also highlighted the need for enabling the handloom, powerloom and hosiery sectors consume available cotton yarn supplies in the market.
Though protecting the domestic cotton growers could not be ignored, efforts should be made to prevent indiscriminate export of cotton to countries s
The association has also suggested for assessing the actual working spindle-age and the correct estimation of the volume of fabric produced in the country.
LACK OF POLICY SUPPORT
In a representation to the Prime Minister, the ISMA President, R. Chinniayan, said the current crisis facing the textile industry was partly due to lack of policy support from the Government.
He wanted the shortfall in the raw material supply situation to the textile industry, namely cotton production, be addressed by encouraging cotton production through better seed varieties. Run-up to Budget 2008-09
Sufficient funds should be allocated to the agricultural R&D for seed development.
Check on exports
Chinniayan also highlighted the need for enabling the handloom, powerloom and hosiery sectors consume available cotton yarn supplies in the market.
Though protecting the domestic cotton growers could not be ignored, efforts should be made to prevent indiscriminate export of cotton to countries s
Friday, February 1, 2008
Tea Tasting Competition At Coonoor On Feb 2
Coimbatore: The fourth edition of the tea-tasting competition is being organised jointly by the United Planters Association of South India (UPASI) and the Tea Board at Coonoor on February 2.
This is the second time that the cupping competition is being held in Coonoor after 2005. The second edition took place in Dubai and the third at Kochi.
Tea samples drawn randomly from the different estates/gardens of South India would be tested for smell, colour, taste, infusion etc. by a national jury of buyers, sellers and brokers.
• Quarterly results of corporates: Check out
‘It would be an objective and stringent selection process. As in the earlier editions, there will be a multi-layer screening process with a scoring system to capture the various quality attributes, and the award winning entries showcased at the Global Tea Forum in Dubai,’ the Executive Director of Tea Board, Nazeem, told Business Line.
Rise in entries
The total number of entries this year has risen to 213 against 208 last year and 194 two years back.
Industry sources said there was an increase in both the entry and garden/estate participation this year compared to the earlier editions, demonstrating sustained improvement in the quality of teas manufactured.
The competition would be in the Orthodox and CTC grades and speciality teas as well.
This is the second time that the cupping competition is being held in Coonoor after 2005. The second edition took place in Dubai and the third at Kochi.
Tea samples drawn randomly from the different estates/gardens of South India would be tested for smell, colour, taste, infusion etc. by a national jury of buyers, sellers and brokers.
• Quarterly results of corporates: Check out
‘It would be an objective and stringent selection process. As in the earlier editions, there will be a multi-layer screening process with a scoring system to capture the various quality attributes, and the award winning entries showcased at the Global Tea Forum in Dubai,’ the Executive Director of Tea Board, Nazeem, told Business Line.
Rise in entries
The total number of entries this year has risen to 213 against 208 last year and 194 two years back.
Industry sources said there was an increase in both the entry and garden/estate participation this year compared to the earlier editions, demonstrating sustained improvement in the quality of teas manufactured.
The competition would be in the Orthodox and CTC grades and speciality teas as well.
Thursday, January 31, 2008
Raw Cotton Prices Rise On Slower Arrivals
Coimbatore: Raw cotton (kapas) prices across varieties have firmed up this week amidst constraints in arrivals of kapas in key markets. The price increase ranged between Rs 200 and Rs 500 per candy (356 kg) and among the varieties that saw spurting are long-staple DCH-32, V-797, J-34 from Punjab, Jayadhar, MCU-5, MECH-1/H-4 and Bengal Deshi.
Arrivals of kapas (raw cotton) turned scarce this week as anxious spinners, hamstrung with minimum cotton stocks, went into buying mode. This is believed to have stoked the price surge, according to market sources.
The slower arrivals is attributed to farmers/ginners holding on to their stocks in anticipation of higher demand in the coming weeks.
Daily arrivals of cotton have dropped to 80,000 bales (of 170 kg each) from December last week/January first week’s levels of two lakh bales a day.
Lint output may fall
According to Ashok Daga, President of Coimbatore Cotton Association, part of the price increase is on account of a lower ratio of lint to cottonseed recorded this year. As compared to the normal lint realisation at 35 per cent against seed weight of 65 per cent, this year the Bt cotton yields have revealed a higher cottonseed weight that has gone up to 67 per cent bringing down the yield of lint.
• Quarterly results of corporates: Check out
This factor, according to Daga, is expected to bring down the overall lint production this season from the projected 310 lakh bales to around 290 lakh bales. This ratio difference has led to lint prices increasing by Rs 700 per candy.
According to Ramani, Joint Secretary, South India Cotton Association, though the international cotton prices have dropped by Rs 1,000 per candy this week, domestic cotton prices continue to remain firm partly on account of the higher holding capacity of cotton farmers who are reluctant to part with their kapas at the prevailing prices.
These farmers, having already sold 50 per cent of their produce at a seller’s market, now prefer to wait for the market to go up before they offload their remaining stocks. The higher kapas yield recorded by farmers especially in Punjab and Gujarat this season has enabled cotton growers in these tracts to hold back their stocks. Sizeable volume of cotton exported also gave the pep to the domestic raw cotton market in keeping prices firm.
Arrivals of kapas (raw cotton) turned scarce this week as anxious spinners, hamstrung with minimum cotton stocks, went into buying mode. This is believed to have stoked the price surge, according to market sources.
The slower arrivals is attributed to farmers/ginners holding on to their stocks in anticipation of higher demand in the coming weeks.
Daily arrivals of cotton have dropped to 80,000 bales (of 170 kg each) from December last week/January first week’s levels of two lakh bales a day.
Lint output may fall
According to Ashok Daga, President of Coimbatore Cotton Association, part of the price increase is on account of a lower ratio of lint to cottonseed recorded this year. As compared to the normal lint realisation at 35 per cent against seed weight of 65 per cent, this year the Bt cotton yields have revealed a higher cottonseed weight that has gone up to 67 per cent bringing down the yield of lint.
• Quarterly results of corporates: Check out
This factor, according to Daga, is expected to bring down the overall lint production this season from the projected 310 lakh bales to around 290 lakh bales. This ratio difference has led to lint prices increasing by Rs 700 per candy.
According to Ramani, Joint Secretary, South India Cotton Association, though the international cotton prices have dropped by Rs 1,000 per candy this week, domestic cotton prices continue to remain firm partly on account of the higher holding capacity of cotton farmers who are reluctant to part with their kapas at the prevailing prices.
These farmers, having already sold 50 per cent of their produce at a seller’s market, now prefer to wait for the market to go up before they offload their remaining stocks. The higher kapas yield recorded by farmers especially in Punjab and Gujarat this season has enabled cotton growers in these tracts to hold back their stocks. Sizeable volume of cotton exported also gave the pep to the domestic raw cotton market in keeping prices firm.
Thursday, January 24, 2008
Offerings Lower At Coimbatore Tea Auctions
Coimbatore: With leaf and dust grades accounting for 1.47 lakh kg and 3.20 lakh kg respectively, the total offering at the weekly tea auction held at the Tea Trade Association here dipped marginally to 4.67 lakh kg last week.
Select well-made, high-growns ruled firm, while others quoted lower by Rs 2 to Rs 3 a kg. Internal demand was limited to whole leaf grades, while others remained quite.
Limited quantity of the orthodox dust was on offer; enquiries were also limited. Secondary type teas witnessed some withdrawals, and others remained barely steady. CTC leaf grades witnessed improved demand. Good liquoring teas, especially smaller brokens and fannings remained dearer. The medium, plainer, bolder grades saw improved export demand.
High-priced teas down
The orthodox high growns moved in the Rs 65 to Rs 76 price band while the best CTC grades quoted between Rs 52 and Rs 58 a kg. High-priced liquoring teas were quoting lower by up to Rs 3, while medium types were lower by Rs 1.
• Quarterly results of corporates: Check out
Hindustan Unilever Ltd (HUL) lent fair support with additional support from internal buyers.
Select well-made, high-growns ruled firm, while others quoted lower by Rs 2 to Rs 3 a kg. Internal demand was limited to whole leaf grades, while others remained quite.
Limited quantity of the orthodox dust was on offer; enquiries were also limited. Secondary type teas witnessed some withdrawals, and others remained barely steady. CTC leaf grades witnessed improved demand. Good liquoring teas, especially smaller brokens and fannings remained dearer. The medium, plainer, bolder grades saw improved export demand.
High-priced teas down
The orthodox high growns moved in the Rs 65 to Rs 76 price band while the best CTC grades quoted between Rs 52 and Rs 58 a kg. High-priced liquoring teas were quoting lower by up to Rs 3, while medium types were lower by Rs 1.
• Quarterly results of corporates: Check out
Hindustan Unilever Ltd (HUL) lent fair support with additional support from internal buyers.
Monday, January 21, 2008
Maize Price Remains Volatile Despite Bird Flu
Coimbatore: Maize price remained volatile last week with the rates for the commodities quoted at mandis touching Rs 7,200-7,220 per tonne, some three per cent higher than last week, market reports said. The volatility is due to bird flu in the eastern region and high exports.
The maize supplies to the eastern region were affected this week. There has been a supply crunch in other parts especially Gujarat where the maize deliveries were being made at Rs 8,800 per tonne or higher, according to the US Grains Council’s India reports.
The prices at upmarket centres including Nibaheda (Rajasthan) and Ratlam in Madhya Pradesh remained firm at the previous week’s level, the rates moved up slightly in southern centres including Nizamabad, Kareem nagar and Davangee with the increasing ranging from Rs 90-200 per tonne.
The report said of the total maize production of 16 million tonnes expected for 2007-08, poultry sector is expected to use close to 48 per cent and starch sector another 11.4 per cent.
• Check out our Yearender Special
In the wake of the bird flu attacks in West Bengal, the wholesale prices of broilers and eggs went down by 20-25 per cent across all markets in the country.
The maize supplies to the eastern region were affected this week. There has been a supply crunch in other parts especially Gujarat where the maize deliveries were being made at Rs 8,800 per tonne or higher, according to the US Grains Council’s India reports.
The prices at upmarket centres including Nibaheda (Rajasthan) and Ratlam in Madhya Pradesh remained firm at the previous week’s level, the rates moved up slightly in southern centres including Nizamabad, Kareem nagar and Davangee with the increasing ranging from Rs 90-200 per tonne.
The report said of the total maize production of 16 million tonnes expected for 2007-08, poultry sector is expected to use close to 48 per cent and starch sector another 11.4 per cent.
• Check out our Yearender Special
In the wake of the bird flu attacks in West Bengal, the wholesale prices of broilers and eggs went down by 20-25 per cent across all markets in the country.
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