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Thursday 19 December 2013

Singapore’s Agrocorp makes highest bid for PEC wheat tender

Singapore’s Agrocorp International has offered the highest price of $281.5 a tonne to buy 50,000 tonnes of wheat from State-owned PEC Ltd. The offer has been made to procure Food Corporation of India’s stocks from Krishnapatnam port in Andhra Pradesh.
Agrocorp’s offer is against the 70,000 tonnes that PEC had tendered for sale.
Cargill was the second highest bidder, offering $281.26 for 30,000 tonnes, while Emmsons International bid at $281.11.
PEC received six bids, with Vitol ($277.79), Starcom ($271.68) and Glencore ($269.10) being the other bidders.
The bids, received on Monday, were marginally lower than those received on December 12. But they are over eight per cent higher than the floor price of $260for exports set by the Government recently.
State entities including PEC, STC and MMTC have been receiving better than expected response in recent tenders.
The entities had offered 6.5 lakh tonnes of wheat for exports this month as pressure was building up on Government to create space for the new crop arrivals.
Wheat stocks in the Central pool stood at 31 million tonnes, thrice the target for the October-December quarter.
Expectations are that the country may see yet another bumper wheat harvest this season, based on the current sowing pattern wherein acreage under the cereal crop is higher by 40 lakh hectares (lh) at 253.75 lh for this time of the year.
Wheat planting will continue till mid-January.
The Government has decided to ship out about two million tonnes of wheat to reduce surplus stocks. The state entities had exported 4.2 mt in fiscal 2012-13 and the value of these shipments was $1.4 billion.
The average price fetched by Indian wheat was $311.38 last fiscal.

With warm regards
Pankaj Katba
Feed Grain Agri Brokers  
"We Care Our Name & Commitment"
(International Brokers / Buyers sourcing agent for Grain, Pulses and Spices, Oil seeds,  Milling Wheat, Maize, Millet, Rice, Sugar Barley & Rape Seed Meal)
905, Star Plaza,  Phulchhab Chowk , Rajkot 360 001 Gujarat – INDIA
Tel       : +91 -281- 3065002 Fax: +91 -281- 3065002
Cell No : +91-88-6666-3400, +91-98246 -01900, 
E-mail  :  Pankaj@FeedGrainAgri.com  FeedGrainAgri@Gmail.com
Skype  :  FeedGrainAgri BBM PIN:26DD706F What's up / Viber: +918866663400
Rajkot Chamber of Commerce & Industries Registration No. F- 40.

Monday 18 November 2013

Wheat Tender Result



PEC / KRISHNAPATNAM – 70,000 MT

-                      AMIRA FOODS  - 70 K  284.70
-                      AGRI COMMODITIES – 30 K 289.90
-                      CARGILL – 30 K 279.75
-                      VITOL – 30 K 273.10

MMTC/KAKINADA  - 60,000 MT

-          AL GHURAIR               -           284.70 – 30 K/ 277 – 25k
-          AVANTI                       -           272.09  - 25 K
-          AGROCORP                 -           285.95  - 50 K
-          EMMSONS                  -           277.40  - 30 K
-          TOEPHER                     -           260.00  - 60 K
-          CARGILL                      -           280.00 – 40 K/282.75 – 30 K
-          STARCOM                   -           268.00 – 25 K

STC/MUNDRA  - 120,000 MT

-          AMIRA                         -           282.00 -  30 K 
-          AGROCORP                 -           280.00 -  50 K
-          LOUIS DREFUS             -           278.28 -  30 K
-          EMMSONS                  -           278.01 -  30 K
-          AGRI COMMODITIES  -           286.20 -  30 K
-          AL GHURAIR               -           285.85 -  30 K
-          PROMISING INTL.        -           279.75 -  30 K

PEC/KANDLA  - 90,000 MT

-          CARGILL                      -           280.00  – 40 K
-          LOUIS DREFUS             -           276.12  - 30  K
-          CONCORDIA                -           280.26  - 30 K
-          AL GHURAIR               -           284.70  - 30 K
-          EMMSONS                  -           278.01  - 40 K
-          STARCOM                   -           268.00  - 30 K

Tender Result : Indian Government Milling wheat Exports Tender result


Key Points: 

1. Wheat exports tender gets bids higher than floor price

2. India's PEC gets highest bid at $290/T in wheat export tender

Reports By: Pankaj Katba Feed Grain Agri Brokers 

Buyers in Singapore and Dubai have placed the highest bids for export of Indian wheat through State agencies — STC, MMTC and PEC Ltd — for which tenders were opened on Monday.


At the top-end, bids received by these agencies ranged from $284.70-289.90 a tonne, broadly in line with the prevailing global prices, which have increased in the last three weeks.

PEC Ltd received the highest bid of $289.90 a tonne from the Singapore-based Agri Commodities International for about 30,000 tonnes of the 70,000 tonnes wheat offered from Krishnapatnam port.

MMTC received highest bid of $285.95 a tonne for 50,000 tonnes of the 60,000 tonnes offered from Kakinada Port by Agrocorp International Pte Ltd, another Singapore-based firm.

Agri Commodities was also the highest bidder at $286.20 a tonne for 30,000 tonnes of the 1.2 lakh tonnes offered by STC through Mundra Port.

BIDS FROM DUBAI

The Dubai-based Al Ghurair had placed a highest bid of $284.70 for 30,000 tonnes of the 90,000 tonnes offered through Kandla Port.

The responses to the latest tenders are higher than the floor price of $260 a tonne. On October 30, the Government had cut the floor price for wheat exports by $40 a tonne to $260 to make Indian wheat shipments more viable in the global market after the State entities received poor response to export 1.6 lakh tonnes last month. Against a floor price of $300 a tonne, the bids received by these entities for the October tender ranged between $260 and $267 a tonne, forcing the Government to cut the price.

“It is interesting that the large and medium-sized traders in Singapore and Dubai have made the highest bids. May be they are taking new positions,” said Tejinder Narang, a grains trade analyst. Further, none of the multinationals, such as Cargill and Louis Dreyfus, submitted bids at the highest levels.

Narang also pointed out that the Indian wheat has come at a par with supplies from the Black Sea region, where it is quoted between $280 and $290 a tonne.

The Government has decided to ship out about two million tonnes of wheat to cut surplus stocks and create space for other cereals such as rice, for which paddy procurement is currently on in states such as Punjab and Haryana. On November 1, India’s wheat stocks stood at 34 million tonnes, three times more than the target for the October-December quarter.

The State entities had exported 4.2 mt of wheat in fiscal 2012-13 and the value of these shipments was $1.4 billion. The average price fetched by the Indian wheat stood at $311.38 a tonne last fiscal.

Read Full reports at our Website .. www. FeedGrainAgri.com

Thanks & Best Regards
Pankaj Katba

Feed Grain Agri Brokers 
"We Care Our Name & Commitment"
(International Brokers / Buyers sourcing agent for Milling Wheat, Maize, Millet, Rice, Sugar Barley & Repe Seed Meal)
905, Star Plaza, Phulchhab Chowk , Rajkot 360 001 Gujarat – INDIA
Tel        : +91 -281- 3065002 Fax: +91 -281- 3065002
Cell No : +91-88-6666-3400, +91-98246 -01900,
E-mail   : Pankaj@FeedGrainAgri.com & FeedGrainAgri@Gmail.com
MSN     : FeedGrain@Hotmail.com
Skype   : FeedGrainAgri   BBM PIN:26DD706F   What's up / Viber: +918866663400
Web : www.FeedGrainAgri.com   Blog : www.FeedGrainAgri.Blogspot.in

Sunday 17 November 2013

STC is offering 120,000 tonnes on India’s west coast, MMTC 60,000 tonnes on the east coast, while PEC is offering a total of 160,000 tonnes on both the coasts.

The bids for first tender following lowering of base price for export of 2 million tonne (mt) of wheat from Food Corporation of India (FCI) stock will be opened on November 18.

Sources said state-owned trading agencies, MMTC, PEC and STC, have invited bids for 3.4 lakh tonne of wh-eat to be exported from Mudra, Kandla, Krishnapatnam and Kakinada ports. An empowered committee, headed by the commerce secretary, will approve the successful bidders.

This is the second attempt by the government to export wheat from its stock this fiscal after the first bids were rejected because of lower price last month. The state-owned trading firms had floated tenders for export of 1.5 lakh tonne of wheat. But the bids were subsequently scrapped because government agencies got a highest quote of only $269 per tonne against the base price of $300 per tonne.

FCI can export 2 mt of wheat till June 31, 2014, instead of March 31, 2014.

As reported by FE earlier, the food ministry had sent a proposal to the government again, requesting reduction in base price for wheat shipments to $260 per tonne, which was later approved by the Cabinet Committee on Economic Affairs. “As global prices have firmed up in recent weeks, we expect bids more than the base price for wheat exports,” a food ministry official said.

Meanwhile, higher wheat output this year in key exporting countries such as Russia, Australia, Canada and France, has pulled down the global wheat price to $260- $ 275 per tonne from $310- $ 330 per tonne last year.

Last year, due to global shortage, FCI had exported 4.5 mt of wheat and realised R7,000 crore at an average price of about $ 310 per tonne.


Indian Wheat Tender State Trading Corp, MMTC Ltd and PEC Ltd will now close the bid on 18 November instead of 15 November.

India’s three state-owned traders have deferred the closing date for bids to export a total of 340,000 tonnes of wheat from government warehouses for shipment by December due to a public holiday, traders said on Tuesday.
State Trading CorpMMTC Ltd and PEC Ltd will now close the bid on 18 November instead of 15 November.
The companies are offering the quantity at a floor price of $240 per tonne as part of the latest round of global export tenders.
STC is offering 120,000 tonnes on India’s west coast, MMTC 60,000 tonnes on the east coast, while PEC is offering a total of 160,000 tonnes on both the coasts.

Thursday 14 November 2013

Asia Grains-Australian wheat prices rise, market eyes Indian supply

* Australian wheat up $12/T for Dec shipment
* Frost damage in Australia's eastern grain belt
* Market eyes Indian wheat on talk of lower prices
By Pankaj Katba
Australian wheat prices firmed this week as frost damage to east coast crops fed supply worries, while Asian millers are likely to snap up wheat cargoes from India, as it moves to cut prices.
Australian prime wheat prices rose $12 a tonne to $297 free on board for December shipment and Australian prime hard wheat with 13 percent protein gained $10 a tonne to $355. Australian standard wheat was quoted at $291 a tonne FOB.
"There was some damage to wheat in New South Wales and Victoria because of the frost," said one Sydney-based trader. "We are seeing prices in Australia move higher even though the global market has eased."
Australia has kicked off an early harvest in Queensland and New South Wales, with farmers reporting higher protein in grain but lower yields due to hot weather, traders said.
More than half the wheat harvested in Queensland is of the prime hard variety with protein content exceeding 13 percent.
Besides frost damage, Australia's wheat crop faces a threat from hot and dry weather.
Most of Australia is forecast to experience hotter and drier conditions than normal over the next three months, the weather bureau said on Wednesday.
Chicago Board of Trade front-month wheat has given up 1.2 percent this week, weighed down by expectations of growing competition from Indian wheat supplies in the global market.
INDIAN WHEAT
India's cabinet will soon consider a 13 percent cut in the floor price for wheat exports, two government sources said on Thursday, potentially boosting supplies from the world's second-biggest producer.
Buyers are likely to bid heavily for tenders called by India's state-run trading companies.
"Buyers will bid for Indian wheat at around $280 to $282 a tonne FoB, going by current prices," said a trader in Singapore.
The State Trading Corporation of India issued a global tender to export 120,000 tonnes of wheat from the west coast, while PEC floated two tenders offering a total 160,000 tonnes from both east and west coasts.
"There will be good demand for Indian wheat in Southeast Asia and the Middle East for lower-grade milling and feed," a second Singapore-based trader said. "It will be a relief for millers as global supplies are getting tighter."
CBOT wheat hit a four-month high of $7.11-1/4 a bushel on Monday, fuelled by concerns that harsh weather in Argentina, Australia and the Black Sea could damage crop prospects and boost export deals for the United States.
Black Sea wheat was offered around $320 a tonne, including cost and freight, to Southeast Asia, unchanged from last week.
"Supplies from Russia and Ukraine are getting tighter as farmers have slowed selling," said the first Singapore trader.
South Korean flour millers bought 25,500 tonnes of Canadian milling wheat and a combined 54,600 tonnes of U.S. milling wheat via tenders that closed on Wednesday.
In the feed grain market, the Korea Corn Processing Industry Association bought 55,000 tonnes of corn in a private deal this week after having rejected all offers in an international tender for the same volume.

The food-grade corn, which can be sourced optionally from the United States or Brazil, was bought from Cargill at $254.70 a tonne C&F.

Indian Wheat Exports Seen at Record on Government Price Cut

Wheat shipments from India, the second-largest grower, may climb to a record as the government cuts the price for overseas sales, adding to supplies in a year when farmers are reaping the biggest global harvest ever.
Shipments are set to jump 32 percent to 7 million metric tons in the 12 months starting April 1 from 5.3 million tons a year earlier, said Agrocorp International Pte, a Singapore-based trader. The cabinet today approved a cut in the minimum price to $260 a ton from $300 to reduce state reserves that are more than double normal needs, said Food Minister K.V. Thomas.
Futures in Chicago rebounded 6 percent since reaching a 14-month low in August on speculation dry weather in Argentina and rains in Russia would hurt crops, even as the U.S. government predicts the global harvest will jump 8.2 percent to 708.9 million tons. The rally could fade should India ship more wheat than expected, according to Rabobank International.
“Exports from India are likely to be bearish or put a cap on where wheat prices are able to rally to,” Graydon Chong, a grains and oilseeds analyst at Rabobank, said in a phone interview from Sydney yesterday. “It will relieve some of the pressure that we’re seeing build up in the wheat complex.”
Wheat declined 12 percent to $6.81 a bushel on the Chicago Board of Trade this year and reached a low of $6.355 on Aug. 14. Corn plunged 38 percent and the Standard & Poor’s GSCIindex of eight agricultural commodities fell 18 percent.

Black Sea

“It’s a good time for India to increase sales,” said Vijay Iyengar, managing director at Agrocorp, who has traded commodities for more than two decades. “India should seize the opportunity to export in a big way.”
Supplies from India compete with Black Sea milling wheat that contains 11.5 percent protein, said Tejinder Narang, an adviser with Emmsons International Ltd. (EMSI), a New Delhi-based exporter. Prices of this variety increased about 11 percent to as much as $277 a ton from $250 in August, while grain with 12.5 percent protein climbed 9.6 percent to $285, said Narang.
In Russia, planting of winter grain may be 4 million hectares (9.9 million acres) less than intended, with the most impact on wheat, Oil World said Oct. 15. The worst drought in 50 years in areas of Argentina, South America’s biggest exporter, resulted in “irreversible damage” to the crop, the Hamburg-based researcher said Oct. 22.
Wheat from India can fetch about $275 a ton free on board ship in Middle East, African and Asian markets and has a “natural geographical advantage” because of lower freight costs to those buyers, said Narang.

‘Bearish Risk’

Imports by China, the top consumer, may more than triple to 9.5 million tons and tie with Egyptas the world’s biggest, according to the U.S. Department of Agriculture. Buying by Brazil and China to replenish inventories helped spur a 3.7 percent advance in prices last month, the most since April.
The “bearish risk is if India tries to capture more market share by lowering the threshold for selling wheat,” Rabobank analysts including Luke Chandler wrote in a report e-mailed Oct. 25. Wheat will average $7 a bushel this quarter and $6.75 in the first three months of 2014, the bank estimates.
State stockpiles in India totaled 36.1 million tons at the start of this month compared with a normal requirement of 14 million tons, according to Food Corp. of India. The government buys about 30 percent of rice and wheat production from farmers at prices set by the state.
The harvest is estimated at 92.5 million tons in the year ended June, near the record 94.9 million tons a year earlier, according to the farm ministry. Shipments totaled 2.65 million tons between April 1 and Sept. 20 including 1.3 million tons from state reserves, government data show.

Friday 25 October 2013

Bumper Indian Groundnut crop predicted in Kharif 2013

Indian Oilseeds and Produce Export Promotion Council (IOPEPC) has forecasted a bumper groundnut crop in Kharif 2013.
During their Annual Trade meet held in Hyderabad, IOPEPC, which comes under the Ministry of Commerce, announced that groundnut production during Kharif 2013 is estimated to be 49.16 lakh tonnes in five major states of Gujarat, Rajasthan, Andhra Pradesh, Karnataka and Tamil Nadu which account for close to 90 per cent of total groundnuts produced in India.
This is higher by 21.03 lakh tonnes as compared to Kharif 2012, when the crop was only 28.12 lakh tonnes in these states, owing to monsoon failure. The final crop estimates will be released after crop cutting experiment in December 2013.
Groundnut exports during 2013-14 are expected to be about 6 lakh tonnes. Sesame seed exports this year may be lower because of extensive damage to crop caused by heavy rains during extended monsoon in major sesame growing areas.
With warm regards

Pankaj Katba
Feed Grain Agri Brokers  
"We Care Our Name & Commitment"
(International Brokers / Buyers sourcing agent for Grain, Pulses and Spices, Oil seeds,  Milling Wheat, Maize, Millet, Rice, Sugar Barley & Rape Seed Meal)
905, Star Plaza,  Phulchhab Chowk , Rajkot 360 001 Gujarat – INDIA
Tel       : +91 -281- 3065002 Fax: +91 -281- 3065002
Cell No : +91-88-6666-3400, +91-98246 -01900, +91 99251-77699
E-mail  :  Pankaj@FeedGrainAgri.com  & FeedGrainAgri@Gmail.com
Skype  :  FeedGrainAgri BBM PIN:26DD706F What's up / Viber: +918866663400
India has overtaken Thailand as Singapore’s biggest rice supplier for the first time, exporting 92,865 tonnes or 32.9 per cent of the total rice supply to the island nation in the first eight months of 2013.

Thailand shipped 85,816 tonnes or 30.4 per cent during January-August, The Straits Times reported today.
Vietnam supplied 77,459 tonnes or 27.4 per cent during this period.
Higher rice exports
India’s rice exports to Singapore had risen to 29.5 per cent last year from 15.3 per cent in 2009.
Thailand has been the leading rice supplier to Singapore since 1998, accounting for over half of the total rice consumption of the city state between 1998 and 2011.
But its market share fell to 35.3 per cent last year while supplies from India and other countries have increased.
“Importers (are) taking advantage of the lower prices of Indian rice compared to Thai rice,” the daily quoted a Trade and Industry Ministry spokesman.
The Singapore General Rice Importers Association said the shift in sourcing rice started when global rice prices began surging in 2008.
Other rice producing countries have also curbed exports to ensure sufficient domestic supplies while Thai crops have been hit by massive floods in the past.
Other rice suppliers to Singapore include Myanmar (2.5 per cent), Pakistan (2.4 per cent), United States (2.2 per cent), Cambodia (0.9 per cent) and Australia (0.6 per cent) as well as others (0.7 per cent).
With warm regards

Pankaj Katba
Feed Grain Agri Brokers  
"We Care Our Name & Commitment"
(International Brokers / Buyers sourcing agent for Grain, Pulses and Spices, Oil seeds,  Milling Wheat, Maize, Millet, Rice, Sugar Barley & Rape Seed Meal)
905, Star Plaza,  Phulchhab Chowk , Rajkot 360 001 Gujarat – INDIA
Tel       : +91 -281- 3065002 Fax: +91 -281- 3065002
Cell No : +91-88-6666-3400, +91-98246 -01900, +91 99251-77699
E-mail  :  Pankaj@FeedGrainAgri.com  & FeedGrainAgri@Gmail.com
Skype  :  FeedGrainAgri BBM PIN:26DD706F What's up / Viber: +918866663400

Japan to import 49,830 tonnes feed wheat via tender

Japan's Ministry of Agriculture said it would import 49,830 tonnes of feed-quality wheat via a simultaneous buy-and-sell (SBS) auction that closed late on Wednesday. 
It received no bids for barley for livestock use. The ministry had sought 180,000 tonnes of feed wheat and 200,000 tonnes of feed barley in the tender that is usually conducted weekly.
It is seeking the same amounts for each grain in a similar tender to be held on Oct 30.  
Japan buys a small portion of feed wheat and barley via so-called SBS auctions, in which end users and importers specify the origin, price and quantity of grain, allowing millers to meet their varied needs for the feed grain.  
Details of the results are below, with the quantity in tonnes and the average price in yen per tonne:
Pankaj Katba
Feed Grain Agri Brokers  
"We Care Our Name & Commitment"
(International Brokers / Buyers sourcing agent for Grain, Pulses and Spices, Oil seeds,  Milling Wheat, Maize, Millet, Rice, Sugar Barley & Rape Seed Meal)
905, Star Plaza,  Phulchhab Chowk , Rajkot 360 001 Gujarat – INDIA
Tel       : +91 -281- 3065002 Fax: +91 -281- 3065002
Cell No : +91-88-6666-3400, +91-98246 -01900, +91 99251-77699
E-mail  :  Pankaj@FeedGrainAgri.com  & FeedGrainAgri@Gmail.com
Skype  :  FeedGrainAgri BBM PIN:26DD706F What's up / Viber: +918866663400

Tuesday 1 October 2013

Thai government to offer 300,339 tonnes rice from huge stockpiles Read full reports http://feedgrainagri.blogspot.in/

The Thai government will open a tender to sell 300,339 tonnes of rice from state warehouses on October 14, its fourth attempt since July to reduce huge stockpiles built up under an intervention scheme that has made its grain uncompetitive on worldmarkets.

The exact size of the stockpiles is a matter of controversy but recent comments from the minister overseeing the scheme put them at about 15 million tonnes, more than double the 6.9 million tonnes that Thailand managed to export last year.
"The ministry offers to sell glutinous rice and several grades of broken white rice," the Commerce Ministry said in a statement on Tuesday, adding the tender was open to both local and foreign buyers.
The government sold just 240,000 tonnes of rice in three tenders in July and August out of the 660,000 tonnes offered. It bought the rice from farmers at prices way above the market and has been reluctant to sell near recent market levels, which would bring it big losses.
Commerce Minister Niwatthamrong Bunsongphaisan said last month that the stockpiles totalled just 10 million tonnes, well below the 17 million reported by the government in June.
This week he said the total would fall to 10 million over coming months after delivery of 5 million tonnes under deals signed with foreign governments.
Thailand said in September 2012 it had sold 7.3 million tonnes to foreign governments but it provided few details and exporters have until now seen little evidence of shipments.
Traders and industry officials noted that fresh grain would be going into the stockpiles soon because the government has renewed its buying scheme for the crop year that started on Tuesday, guaranteeing farmers a price of 15,000 baht ($480) per tonne for paddy.
Thailand's 5 percent broken rice is currently offered for export at around $444 a tonne.

($1 = 31.2800 Thai baht)

"Meet us @ ANUGA FOOD FAIR Germany. Oct 5th, 2013 to Oct 9th, 2013" 
Thanks & Best Regards
Pankaj Katba
Feed Grain Agri Brokers  
(International Brokers / Buyers sourcing agent for Milling Wheat, Maize, Millet, Rice, Sugar Barley & Rape Seed Meal)
905, Star Plaza,  Phulchhab Chowk , Rajkot 360 001 Gujarat – INDIA
Tel       : +91 -281- 3065002 Fax: +91 -281- 3065002
Cell No : +91-88-6666-3400, +91-98246 -01900, +91 99251-77699
E-mail  :  Pankaj@FeedGrainAgri.com  & FeedGrainAgri@Gmail.com
MSN    :  FeedGrain@Hotmail.com
Skype  :  FeedGrainAgri BBM PIN:26DD706F What's up / Viber: +918866663400
Web     :  www.FeedGrainAgri.com