Agricultural sector highlights: • Thailand is likely to witness record sugar output of 11 MMT on better productivity. • At LIFFE, sugar declined to lowest since July 1, 2012. • Global sugar output will exceed consumption— International Sugar Organization. • The USDA bought sugar from producers to ease glut in market. • World cereal production is likely to rise by 7 % to a record 2.48 billion metric tons in 2013—FAO. • MDA cut its world wheat output estimates. • Russian Agriculture Ministry revealed that grain harvest till July 10 is up to 18.8 MMT as compared from 10.6 MMT in same period during last year. Moreover, 13% of the harvesting is completed. • Czech Republic’s grain harvest may surge by 16% this year to 6.5 MMT. • Wheat and corn prices may fell further—ANZ. • As per Chinese official source, the lower palm oil inventory was reported at Chinese port from last three week. • Malaysian palm oil stockpile is likely to rise from July on lower seasonal demand and higher production in coming months. • Corn prices in China may rise on government purchases. • Record production of food grains likely in kharif season— Sharad Pawar. • According to the Ministry of Agriculture, India, the sowing area for kharif crop 2013-14 is up by 86.7% to 401.69 lakh hectares in comparison with 215.07 lakh hectares in the corresponding period during last year.
Posted on: Sat, 13 Jul 2013 18:13:22 +0000
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