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Epic Research Daily Agri Commodity Report Of 14 December 2018

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India, 14 December 2018 -- India's sugar production could fall in 2019/20 as farmers are struggling to plant cane because of a drought in two of the country's top producing states, industry sources said.

India's sugar production could fall in 2019/20 as farmers are struggling to plant cane because of a drought in two of the country's top producing states, industry sources said.
A drop in production would slash exports from the world's second-biggest sugar producer and support global prices that have fallen 15 percent so far in 2018.
Cane is a perennial crop harvested 10 to 16 months after planting. Maharashtra is the country's second-biggest sugar producer, while Karnataka ranks third.
India's production during the 2019/20 marketing year could fall to between 28 million tonnes (mt) and 29 mt from this year's estimated 31.5–32 mt, industry sources said.
Maharashtra's production could fall 16.7 percent to 7.5 mt in the next season, sources said.
Maharashtra received 23 percent less rainfall than normal this year during the June to September monsoon season, while the deficit in Karnataka's cane growing region was 29 percent during the period.
The sugar marketing year runs from October to September.
EconomicNews
India's coffee exports are likely to remain inactive in the last quarter of the fiscal year, due to low global prices and an expected slump in the Arabica crop.
Global prices are likely to remain subdued as Brazil, the largest coffee producer, is expecting a bumper crop which is close to 60 million bags (each of 60 kg) in 2019.
Production in Vietnam, the next biggest producer, is also predicted to be a good one.
As per the Coffee board data, shipments of Arabica Coffee showed a 13 per cent fall at 2,32,080 tonnes in the current fiscal year which started on April 1 to December 10. In 2017–18, the country had posted a 12 per cent increase in exports.
Prices of Indian Arabica are hovering at Rs 7,000 per 50 kg. This is below the cost of production for the growers, which is pegged around Rs 8,000. Shipments for the next few months will depend on whether the growers will sell at a lower price.
Meanwhile, the Arabica coffee harvest in India has started and growers expect a lower crop.
Arabica production in the country was around 95,000 tonnes last year as estimated by the Coffee Board.
Growers fear it could be down by around 15,000 tonnes this time.
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Submitted by Epic Research, Epic Research Pvt.Ltd indore on Friday, 14 December 2018 at 1:23 PM
Category: Business
 
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