venedor0 commentsOctober 11, 2024Weekly Market Update

Grains, Pulses & Oilseeds Market Update (11/10/2024)

The ongoing conflict between Iran and Israel and subsequent oil price spike has also spiked global oilseed market prices on account of bio-fuel inclusions. Locally in Australia, this has led to a significant increase in canola prices.

Dry weather condition in both Australia & the Black Sea region where it is impacting planting of crops has driven up global wheat values and in turn new crop Australian wheat prices on the east coast & WA. Domestic market bids are up by A$8-10/MT in the last 1 week, with no significant grower selling yet. In SEA region, heard that ASW9 trading at U$280/MT levels+/-U$3/MT – (J/F) & AH1 trading at high U$320/MT – (N/D) to CFR SEA major ports in containers. Next 2 weeks rain is predicted in Southern NSW & Victoria which may provide a relief and boost to crop volume.

Exports of Australian red sorghum down by 27% in Aug,24 compared to Jul24, major buyers are China, Japan & Taiwan as per ABS. Demand for Australian red sorghum in China is sluggish, with offers high at U$295/MT to CFR Tianjin (O/N) in containers & no firm interest. Chinese buyers are seeking the new crop of Kaspa peas, targeting U$440/MT, while offers quoted U$460/MT to CFR Tianjin. Local sources indicate that the peas market remains stable to flat, but there’s no significant buying demand from the downstream market.

Exports of Australian feed barley up by 8% & malt barley fell by 1% in Aug,24 compared to Jul,24; feed barley main importer is Japan, Peru, China & malt barley main buyers is China, Mexico, Vietnam as per ABS. Hearing no indicative trade offers from Australia barley this week & Russian barley offered at U$225/MT to CFR China major ports.

In Pakistan, demand for Australian desi chickpeas is strong for prompt shipments but low for Dec/Jan. Reports indicate vessel business at U$850/MT to CFR Karachi (O), while there have been no containerized trades this week. Hearing trade offers for Australian desi chickpeas range from U$810-840/MT for Nov in containers. Pakistani buyers continue to buy Tanzanian desi chickpeas at U$850/MT for prompt shipments. Demand for Australian red lentils are currently sluggish, with price quoted U$760-770/MT to CFR Karachi (N/D) in containers.

In India, the demand for Australian desi chickpeas has been declining for the past two weeks due to subdued buying interest. Indian domestic traders are anticipating that the price of desi chickpeas may firm up due to strong demand during festive season in upcoming days. Hearing trade offers at CHK1(24/25) – CFR NS/Mundra โ€“ U$830/MT levels (O/N) to CFR NS/Mundra in containers. No movement in Australian red lentils at the moment as demand is sluggish, with hearing offers NIP1/HAL1 at U$750-60/MT to CFR Kolkata (N/D) in containers. This week, some business reported on Faba beans at U$430/MT to CFR Kolkata (N/D) in containers.

Bangladeshi buyers are actively participating for desi chickpeas to cover next yearโ€™s Ramadhan demand, as hearing business reported at U$850/MT levels to CFR Chittagong (O/N) & hearing trade offers at U$840/MT levels (N) & U$820/MT levels (D) to CFR Chittagong in containers.

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venedor0 commentsOctober 4, 2024Weekly Market Update

๐—š๐—ฟ๐—ฎ๐—ถ๐—ป๐˜€, ๐—ฃ๐˜‚๐—น๐˜€๐—ฒ๐˜€ & ๐—ข๐—ถ๐—น๐˜€๐—ฒ๐—ฒ๐—ฑ๐˜€ ๐— ๐—ฎ๐—ฟ๐—ธ๐—ฒ๐˜ ๐—จ๐—ฝ๐—ฑ๐—ฎ๐˜๐—ฒ (๐Ÿฌ๐Ÿฐ/๐Ÿญ๐Ÿฌ/๐Ÿฎ๐Ÿฌ๐Ÿฎ๐Ÿฐ)

According to PIRSA assessment – South Australia’s winter crop 24/25 report indicates a 35% declined in production to 5.9MT, which is 35% below the five-year average & report forecasts a reduction in the harvest area for wheat, barley, lentils, vetch, & canola, attributing this decline to insufficient rainfall and the effects of frost. The following winter crop estimated Wheat – 3.1MT; Barley – 1.5MT; Lentils โ€“ 427KT; Canola โ€“ 348KT; Beans โ€“ 128KT; Oats – 103KT; Lupins – 48KT; Peas – 46KT; Vetch – 18KT; Chickpeas 13KT.

Australian wheat prices have firmed up in local due to frost conditions in South Australia & the ongoing conflict between Iran and Israel. In SEA region, this week hearing ASW (24/25) begin quoted at high U$285/MT to CFR SEA major ports in containers.

China market is closed this week due to the ongoing national holiday. Limited business has been reported for Australian red sorghum at U$295/MT to CFR Qingdao (O/N) in containers. There are enquiries for Kaspa peas with offers at U$470-475/MT to CFR Tianjin, but buying bids are at U$425/MT, which is not viable due to the high origination price. Offers for Canadian YP are at U$420/MT and Russian YP at U$410/MT to CFR China major ports, with buying levels at U$360/MT.

Exports of chickpeas increased by 35% in Aug,24 compared to Jul,24 – main importers are India, Pakistan & Nepal as per ABS.

Pakistan market for Australian desi chickpeas is slow due limited buyer interest. Hearing trade offers for CHK1(24/25) at U$900/MT (O) ; at U$860/MT (O/N); at U$810/MT (N/D) to CFR Karachi in containers. While the local market is witnessing an upward trend in desi prices due to shortage, reaching as high as U$1005/MT. Low demand for Australian red lentils, with offers at U$765-70/MT (N/D) to CFR Karachi in containers.

Exports of lentils declined by 43% in Aug,24 compared to Jul,24 – major buyers are India, SL & Pakistan as per ABS.

Indian buyers show limited interest in Australian desi chickpeas, with offers for CHK1(24/25) – U$840-45/MT (O/N); at U$800-05/MT(N/D); at U$790-95/MT (D/J) to CFR Mundra/NS in containers. Meanwhile, in local market of desi stands at INR 79.25 per kg. Interest for Australian red lentils are low from buyers, with offers at U$740-50/MT (N/D) to CFR Kolkata in containers.

Bangladeshi buyers showing low buying interest for Australian desi chickpeas, with offers at U$810-15/MT – (N/D) to CFR Chittagong in containers & local market of desi stands at U$925/MT. There are few enquiries for Kaspa peas as well.

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27 Sep, 2024
venedorSeptember 27, 2024Weekly Market Update

Grains, Pulses & Oilseeds Market Update (27/09/2024)

In Central Queensland, the harvest for desi chickpeas, barley, & wheat has commenced. Crop quality is good with bulk vessel accumulators for chickpeas chasing tonnages with strong numbers into Mackay and Gladstone ports. We should start to see volume chickpeas harvest from SE Qld in second half October.

Meanwhile, in Victoria & South Australia, frost damage has led to significant lowering of crop production estimates in cereals, canola and lentils. Frost damage is still being assessed by growers and industry and is expected to be significant (about 30-40% expected damages in affected areas). This past week there has been 5-10mm of rain in cropping regions of South Australia and Victoria which were not enough to allow recovery from frost damages. We will need to have at least 20-30mm in next 2 weeks to restore some potential in the lentil crops damaged by frost.

Similarly, some regions in southern New South Wales have also been affected by frost damage but they have received between 15mm-40mm of rain the past week which will reverse some damage into later sown crops.

Australian wheat demand is strong this week as SEA millers showing keen interest for new crop purchase, as we heard new crop of APW1 is being indicating at U$290/MT to CFR SEA major ports (traded U$287 into Thailand earlier this week), while ASW current crop prompt shipment trading at U$280/MT levels to CFR SEA major ports in containers.

The Chinese market is currently showing low demand for Australian red sorghum, with no indicative offers reported this week. Buying levels are U$285/MT to CFR Tianjin. Local sources indicate that Chinese-origin sorghum is experiencing good production levels & is priced similarly to imported sorghum. Additionally, there have been limited indicative offers in containers for Australian barley at high U$275/MT (O) to CFR China major ports, while buyers bidding at U$250/MT. New crop sorghum planting is underway but sorghum cropping regions in Queensland needs a good 40mm+ rainfall event for larger area to be planted. October is the start of the northern wet season.

As per latest update (26/09) from Bureau of Meteorology Australia: October to December forecast –

  • Rainfall is likely (60 to 80% chance) to be above average for much of Australia.
  • Rainfall is likely to be within the typical seasonal range across parts of western WA and the southern NT.
  • There is an increased chance of unusually high rainfall for much of Queensland, parts of south-eastern SA including the Riverland region, western Victoria and eastern Tasmania.

Pakistani buyers are showing interest in Australian desi chickpeas, with reports of two vessels being booked at U$835/MT – (Oct/FH Nov) & U$825/MT full Nov to CFR Karachi & in containers offers for CHKM โ€“ U$880/MT to CFR Karachi. Heard that TZ chickpeas trade reported at U$840/MT (O) in containers.  Australian Lentils demand is relatively flat, with offers hearing at U$760-65/MT (N/D) – CFR Karachi in containers on back of reduced crop estimates from Australia.

Indian market has seen slow in the demand for Australian desi chickpeas and red lentils this week, with hearing trade offers Australian CHK1(24/25) at $850-55/MT (O/N); at U$815-820/MT (N/D) to CFR NS/Mundra; Australian red lentils NIP1/HAL1 – at U$760/MT (N/D) – CFR Kolkata in containers. Hearing Canadian Crimson2 offers at U$705/MT in bulk & at U$735/MT for containers to CFR Kolkata (O) & for CFR NS/Mundra at U$665/MT in bulk & at U$695/MT in containers. Hearing TZ desi chickpeas offers at U$850/MT to CFR NS/Mundra.

Bangladeshi buyers showing low interest for Australian desi chickpeas & red lentils at the moment, with hearing trade offers for CHK1(24/25) at U$815-20/MT (N/D) to CFR Chittagong in containers.

Egyptian buyers showing interest for Australian lupins and faba beans this week, with target buying levels for large fabas at U$465-70/MT & Albus Lupins at U$530-35/MT to CFR Damietta in containers.

Lack of participation from Nepal buyers for Australian desi chickpeas & red lentils, with offers hearing CHK1(24/25) at high U$900/MT to ICD Birgunj (O/N) in containers.

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20 Sep, 2024
venedorSeptember 20, 2024Weekly Market Update

Grains, Pulses & Oilseeds Market Update (20/09/2024)

In Victoria and South Australia, ongoing dry conditions are impacting crop areas, & frost has become a new concern. Meanwhile, harvesting in Central Queensland is expected to begin in late September, followed by Southern Queensland in early October.

SEA miller showing firm interest in Australian wheat for both prompt shipment & for forward purchase. We hearing ASW trading at U$280/MT to CFR SEA major ports โ€“ prompt shipments & APW1 (24/25) indicate at U$295/MT to CFR Bangkok (N/D) in containers.ย 

Exports of sorghum up by 72% in Jul,24 compared to Jun,24, with China being main importer as per ABS. This week in China, post Mid-Autumn Festival, trade demand for Australian red sorghum is seeing a slowdown. Trade offers at high U$295/MT to CFR Tianjin, while buyers are bidding at U$285/MT for (S/O) in containers.

Exports of feed barley & malt barley fell by 77% & 18%, with China being major importer in Jul,24 compared to Jun,24 as per ABS. Hearing AU barley bulk offers at U$260/MT levels & Malt barley at U$270/MT (N/D) to CFR China main ports. Russian barley offers at U$230/MT levels (O/N) in containers.

In India, the demand for Australia desi chickpeas has declined since last week & domestic market stands at INR 79 as festive seasons approaches. Offers for Australian CHK1 (24/25) at U$845-50/MT (O/N) to CFR Mundra/NS in containers & business reported at U$785/MT (D/J) to CFR Mundra. Demand for Australian red lentils are stable, with trade offers at U$720/MT (N/D) in containers & in bulk vessel offers at U$670/MT to CFR Kolkata.

In Pakistan, demand for Australian desi chickpeas has slowed down following a surge in purchases from Tanzania and Russia last week. Current offers for Australiaโ€™s CHK1 (24/25) at U$800/MT – (N/D) CFR Karachi in containers, with bulk vessel trade reported at U$750/MT (D/J). Meanwhile, the demand for Australian red lentils is currently low, with trade offers for NIP1/HAL1 at high U$710/MT (D/J) to CFR Karachi in containers with no buying interest.

In Bangladesh, buyers are currently not showing interest in Australian desi chickpeas. Trade offers for CHK1 (24/25) at high U$800/MT (N/D) to CFR Chittagong in containers.

In Egypt, Australian sellers are offering new crop faba beans at U$465/MT (O/N) to CFR Damietta in containers, while buyers are bidding at U$440/MT.

Disclaimer: Prices mentioned are for indication purpose only

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venedorSeptember 13, 2024Uncategorized

Grains, Pulses and Oilseeds Market Update (13/09/2024)

Australian wheat exports in containers up by 25.57% in Jul,24 compared to Jun,24, with major importers are Malaysia, Vietnam & Thailand & bulk up by 19.30% in Jul,24 compared to Jun,24, main buyers are Indonesia, Yemen & Philippines as per ABS. In SEA region, millers showing minimal interest on Australian wheat, having almost covered their demand, hearing offers for APW at U$280/MT; ASW at U$275/MT for (Nov/15Oct) to CFR SEA major ports, with limited buying interest.

In China, this week minimal trade activity for Australian red sorghum (SOR1), with business reported at U$285/MT to CFR Tianjin (S/O) in containers, & bulk offers quoted at U$290/MT (O) to CFR China main ports. No trade demand for Kaspa peas against cheaper YP from Russia & Canada offers at U$360/MT & U$380/MT to CFR China main ports. Hearing Australian barley offers at U$265/MT; RU Barley at U$225-230/MT & UKR Barley at U$240/MT to CFR China main ports (S/O) in containers. China imported shipments of Australian canola in June & July, as per ABS.

Pakistan’s desi chickpea market is experiencing strong demand due to a delay in vessel arrival, in local market desi chickpeas price surged to high U$1000/MT this week. As heard Tanzanian desi chickpea cargoes were traded at U$875/MT; Russian desi chickpeas were trading at U$880/MT; and Australian CHKM was trading at U$875/MT to CFR Karachi for Sep/15Oct shipments. Currently, there is less buyer interest for the new crop of Australian CHK1(24/25), which is quoted at U$810/MT to CFR Karachi (N/D). Minimal trade demand for Australian red lentils, with hearing trade offers at U$720/MT (S/O) to CFR Karahi in containers.

Indian pulse market is relatively slow, except for lentils, which are in high demand, particularly Australian red lentils, due to low stock availability at the ports. This week, NIP1/HAL1(23/24) traded at U$715/MT to CFR Kolkata (S/O) & new crop offers for NIP1/HAL1(24/25) at U$690/MT (N/J) to CFR Kolkata. Desi chickpeas domestic demand is dipped, with prices stands at INR 80, & buyers are waiting for price correction. Australian CHK1(24/25) in bulk offers quoted at U$850/MT (O/N) to CFR Mundra & container offers at U$840/MT (O/N) to CFR Nhava seva.

Bangladesh’s buyer interest in the Australian desi chickpea crop is low, with hearing trade offers in containers for CHK1(24/25) at U$850/MT (O/N) to CFR Chittagong, with no buying interest.

In Nepal, there is some interest in the new crop of Australian red lentils and desi chickpeas, with bid levels at U$700/MT and U$800/MT CFR Birgunj, considered too low given the high origination prices in Australia at the moment.

Canola exports dipped by 13% in Jul,24 compared to Jun,24 with key buyers is Japan & Nepal as per ABS. Hearing trade offers for Australian canola at U$650/MT; Canadian canola at U$640/MT; UKR rapeseed at U$635/MT to CFR Birgunj (S/O) in containers.

In Egypt, Australian sellers are offering new crop faba beans at U$465/MT (O/N) to CFR Damietta in containers, but there are no bids from buyers.

Disclaimer : Prices mentioned are for indication purpose only

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6 Sep, 2024
venedorSeptember 6, 2024Weekly Market Update

Grains, Pulses & Oilseeds Market Update (06/09/2024)

According to the latest ABARES crop production forecast, Wheat 31.8MT; Barley 12.2MT; Canola 5.5MT; Lentils 1.7MT; Chickpeas 1.3MT.

Crops in SA & parts of Victoria are expected to receive some rainfall next week. The crop in NSW is progressing well, with expected rainfall in the upcoming week. In QLD, hopefully we will see harvest begin in late September.

Weaker export demand for Australian wheat in SEA regions, heard that APW1 quoted below U$280/MT (O) to CFR SEA Major ports in containers.

In China, there has been some trade demand for Australian red sorghum this week, with trades at U$280/MT (S/O) – CFR Tianjin in containers. The local market is reportedly firming up; due to the lack of clarity in the import policy, importers are cautious about taking action. There are no indicative offers on Australian barley or other origins at this time. Kaspa peas demand has diminished as RU/Canadian YP available at affordable prices.

In India, this week – Tanzanian chickpeas are actively traded by sellers at U$835/MT for CNF India.ย  Business reported for Australian CHK1(24/25) at U$855/MT (O/N) to CFR Kolkata in containers & bulk at U$845/MT (O/N) to CNF India. This week, there has been some trade activity in current & new crop of Australian red lentils due to low stock availability at ports, with trade reported NIP1/HAL1(23/24) at U$700/MT to CFR Kolkata (S/O) & new crop NIP1/HAL1(24/25) at U$665/MT (D/J) to CFR Kolkata in containers.

In Pakistan, demand for Australian desi chickpeas is currently low, with offers for CHK1(24/25) quoted at U$805/MT – (N/D) to CFR Karachi in containers, there is no buying interest as buyers prefer to wait till harvest. No major trade movement in Australian red lentils.  

Bangladesh is experiencing slow trade movement in Australian desi chickpeas and red lentils, with sellers quoting new crop of CHK1(24/25) at U$860/MT (O/N) & NIP1/HAL1(23/24) priced high U$690/MT (S/O) to CFR Chittagong in containers.    

Exporters are receiving inquiries for new crop Australian desi chickpeas and red lentils from Nepal.

Disclaimer: Prices mentioned are for indication purpose only

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30 Aug, 2024
venedorAugust 30, 2024Weekly Market Update

Grains, Pulses & Oilseeds Market Update (30/08/2024)

The demand for old crop Australian wheat from Southeast Asian millers is sluggish due to the more sufficient Black Sea wheat supply & competitive prices that keeps Australian exporters out of game. In SEA, APW quoted at U$280/MT & ASW9 trading below U$265/MT to CFR SEA major ports in containers.

In China, this week Australian red sorghum (SOR1) has been trading to CFR Tianjin in containers at U$275/MT (S/O) & also hearing that in local market demand for sorghum is rising as the Mid-Autumn Day festival approaches. Additionally, USA sorghum has reportedly traded below at U$270/MT in containers, with Argentina’s sorghum buying bids at U$250/MT. This week hearing no indicative offers for Australian barley & RU barley offered below U$230/MT to CFR China main ports. Australian Kaspa peas demand is bearish against RU/Canadian peas offers as buyer bids are below U$350/MT. We heard some unconfirmed reports of Importers being asked to withdraw from import purchases of barley and sorghum to support domestic pricing amidst slower consumer offtake and abundant stocks in the country.

India’s domestic market for Desi Chickpeas continues to be robust at INR 80/kg. This week has seen considerable trading activity as resellers engage in liquidating their positions, with business reported at U$825-835/MT – (N/D) to CFR NS in containers. Hearing trade offers for CHK1(23/24) at U$920/MT – (S); CHK1(24/25) at U$865-870/MT – (O/N); U$845-850/MT – (N/D) in container; & also bulk offered at U$865/MT (O/N); U$825/MT – (N/D) to CNF India. Sluggish demand for Australian red lentils, heard this week limited qty trade reported NIP1/HAL1 at U$645/MT to CNF India in containers & also heard that Canadian crimson is trading in bulk at U$595-599/MT (S/O) to CFR Mundra.

Chickpeas crop in Australia is coming along in great shape with excellent growing conditions. This has increased grower/trader confidence in the crop leading to increased liquidity in forward selling. Although, focus is now on logistics of moving this crop into export markets. It has started to warm up in all key chickpeas growing areas and we expect Central Queensland to start harvesting in early October. Chickpeas in CQ will likely go onto bulk vessels. Moderate weather is required during Sep/early Oct for SE Qld and NNSW chickpea crop, a quick warm up in weather may impact yield potential. BOM latest temperature outlook forecasts an Increased chance of unusually warm days and nights, particularly across the north Australia and Tasmania from September to November.

Pakistan has not seen significant trade movements in Australian DCP this week, as buyers are focusing on Tanzanian and Russian DCP cargoes and waiting for Australian DCP crop harvest. Trade offers quoted for CHKM at U$865/MT – (S); CHK1(24/25) at U$840/MT – (N/D) to CFR Karachi in containers. There is a sluggish demand for Australian red lentils, quoted at U$675/MT to CFR Karachi in container.

In Bangladesh, last we heard Australian DCP new crop indicating bulk offers at U$855-860/MT to CFR Chittagong. As we heard BD local market is trending upwards in DCP at U$840-845/MT & down in red lentil at U$695/MT.

Nepal’s demand for new crop Australian DCP and red lentils has diminished, as buyers showing interest for Canadian lentils priced at U$650/MT & no interest in DCP due the high price.

Egyptโ€™s buyer showing interest in the new crop of Faba beans for early shipments, offer quoted at U$450-460/MT to CFR Damietta in containers.

Disclaimer: Prices mentioned are for indication purpose only

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23 Aug, 2024
venedorAugust 23, 2024Weekly Market Update

Grains, Pulses & Oilseeds Market Update (23/08/2024)

In Southeast Asia, millers are closely monitoring market prices of various wheat origins for their forthcoming procurements. This week Australian wheat APW1 containers being offered at U$285-U$288/MT (S/O) to CFR SEA major ports with limited buying interest. Australian wheat markets following international market movements on the bid side though growers not inclined to sell much current or forward due to lackluster pricing at the moment. New crop looks promising with good rains and moisture levels helping crop growth. Good rainfall recorded last week in Vic 15-25mm, NSW 15-25mm, CQLD 40-50mm & heavy rainfall in WA 40-70mm.

Australian red sorghum (SOR1) demand in China is quite weak with offer to bid at substantial disparity, quoted at USD 295/MT CFR Tianjin (S/O) in containers, with buyer bids at U$275-277/MT. No trade demand for Kaspa peas as buyers remain bearish on account of low YP offers ex Ru/Canada. Australian feed barley quoted at high U$270/MT to CFR main China ports, buying bids at U$260/MT & Russian barely offered at below U$240/MT; Canadian barley offered below U$250/MT to CFR main China ports in containers.

Australian desi chickpeas both old & new crop have remained strongly bid in ISC, though very limited availability on old crop. Uptick in local India values have been driving demand this past week. Lentils new crop prices are dropped by A$20/MT though since yesterday there has been enquiries from India, possibly on back of rail strike in Canada affecting current lentils shipments.

In India, Australian desi chickpeas new crop saw some brisk business since last Friday until this midweek, was trading at U$915-930/MT (O/N) to CNF main India ports in containers. Afterward, price of desi chickpeas adjusted at INR 77.75 in the local market, down from INR 81. New crop CHK1(24/25) offers seen at U$910/MT (O/N); U$875/MT (N/D) to CNF India in containers. Australian red lentil trade is subdued, with new crop quoted at U$660-665/MT (N/D) for CNF main India ports in containers.

In Pakistan, stable demand for Australian desi chickpeas, current crop quoted at CHK1(23/24) at U$935/MT (S/O); CHKM at U$880/MT (S/O); new crop CHK1(24/25) at U$910/MT (O/N); U$865-870/MT (N/D); U$830 (J/F) to CFR Karachi in containers. This week we are hearing that Karachi local market CHK1 bids were PKR296/kg. Sluggish demand for Australian red lentils, with current crop offers quoted at U$685-690/MT to CFR Karachi in containers.

In Egypt, market reports indicate that buyers are actively showing interest in new crop of faba beans for early shipments, with prices ranging from U$450-460/MT to CFR Damietta in containers.
In Bangladesh, buyers showing some interest in Australian desi chickpeas in bulk for current and new crop. No reported offers yet.

Disclaimer: Prices mentioned are for indication purpose only

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16 Aug, 2024
venedorAugust 16, 2024Weekly Market Update

Grains, Pulses & Oilseeds Market Update (16/08/2024)

The pulse market in India has experienced a significant surge as the festive season approaches especially in desi chickpeas this week, with hitting INR 77 locally. Meanwhile, demand for Australian chickpeas has strengthened, with limited current crop & new crop offers being quoted at U$930+ (A/S) & U$920/MT – (O/N) to CNF India in containers. Australian red lentils demand is slow.

Pakistani market is stable for Australian desi chickpeas and sluggish for Australian red lentils, with bulk vessel business reported (A/S) at U$820/MT for CHKM, U$860/MT for CHK1(23/24), and U$650/MT for NIP1/HAL1. Container offers (S) quoted at U$685-690/MT for NIP1/HAL1; U$910+ for CHK1(23/24); U$860/MT for CHKM to CFR Karachi. 

Chinese market has remained subdued for 1.5 months, attributed to weaker demand. Minimal trading activity in Australian red sorghum as offers quoted at U$275-277/MT to CFR Tianjin (A/S) in containers โ€“ buying bids at U$270/MT which consider far too low given the high origination prices in Australia.  No demand in Kaspa peas & GMB. Australian barely offers high U$265/MT to CFR China, buying interest at U$255/MT.

In SEA, millers are keeping a close eye on the market prices of different wheat origins for future purchases, as limited trade offers from the Black Sea region and Australian wheat APW1 being offered at prices below $275/MT to CFR SEA major in container.  

In Bangladesh, some buying interest coming for Australian red lentils & desi chickpeas. Heard the offers quoted at U$685/MT to CFR Chittagong in containers (S).

In Nepal, lack of participation from buyers for Australian red lentils, desi chickpeas & canola.

In Egypt, no buying interest for faba beans & lupins at the moment.

Disclaimer: Prices mentioned are for indication purpose only

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9 Aug, 2024
venedorAugust 9, 2024Weekly Market Update

Grains, Pulses & Oilseeds Market Update (09/08/2024)

Australian wheat exports in containers fell by 9.43% in Jun,24 compared to May,24, with major buyers being Malaysia, Thailand, and Taiwan, & bulk exports dipped by 21.96%, main importer are Philippines, South Korea, and China as per ABS. In SEA regions, millers signaling some interest in new crop for Australian wheat โ€“ OND shipments.ย  We are hearing APW quoted at U$272/MT; ASW at U$267/MT to CFR SEA (Sep/Oct) in containers.

China’s economy continues to show slacking growth amidst weak consumer demand with economists predicting trend to continue for some time. Australian red sorghum is offered at U$279/MT in containers at CFR Tianjin (Aug/Sep) โ€“ with target buying at U$270/MT.  No demand in Kaspa peas & Mung beans at the moment & also we heard that new crop of Russian YP & Canadian YP priced at U$370/MT & U$375/MT to CFR China in containers, buying targeting at U$350-355/MT levels. Australian feed barley offers at high U$265/MT to CFR China in containers with buyers target price at U$255/MT levels.

The crop conditions for chickpea are generally good to excellent in all major desi-growing regions in Australiaโ€™s Queensland and New South Wales. Crop planting was spread out over almost 2 months with some crop plated late July as well so we expect harvest of chickpeas to also be stretched out with CQ harvesting early to mid Oct and SE Qld /NNSW only to get going mid to late Nov. Sub-soil moisture is good which will take crop through to production. On the cropping risk side โ€“ we are on La Niรฑa watch as per BOM which lead to an increased tendency of above average wet for northern and central Australia in winter to spring period hence increasing disease risks for chickpeas crops. We also donโ€™t want to see 35-40 degree heat in Oct which will shut plant growth for later sown crops quickly and lead to a drop in yield tally. Next 8 day total rainfall forecast on BOM shows 10-15 mm is expected across all cropping regions in WA and all eastern states which should be beneficial for all crops.

This week, desi chickpeas markets in Indian sub-continent for both old and new crop remained active and prices stable. Some decent container sales were reported into India, signalling a growing interest among buyers as festival season approaches, as we heard that some business reported on CHK1(24/25) at U$840/MT levels to CFR NS (Nov/Dec) in containers & bulk in vessel of CHK1(24/25) trading under U$830/MT levels to CFR Kolkata (Nov/Dec). Also heard the Tanzania desi chickpeas quoted at U$860/MT levels to CNF India. Limited demand for Australian red lentils, with NIP1/HAL1(23/24) quoted at U$685/MT levels to CNF India (Aug/Sep) in containers. 

Pakistan’s trade demand for Australian lentils is slow & desi chickpeas is relatively stable, with CHK1(23/24) & NIP1/HAL1(23/24) quoted at U$885/MT & U$685/MT to CFR Karachi (Aug/Sep). Limited forward new crop trade offers for CHK1(24/25) at U$850/MT; NIP1/HAL1 at U$675/MT to CFR Karachi (Nov/Dec) – containers.  Also heard that Russian desi chickpeas at U$890/MT & Tanzania desi chickpeas at U$860/MT.

Currently, there is no buying interest for Australian canola, desi chickpeas, or red lentils in Nepal. Trade offers are being heard for Canola min.44% at U$670-675/MT & Ukrainian rapeseed at U$630/MT to ICD Birgunj (Aug/Sep) in containers.

Disclaimer: Prices mentioned are for indication purpose only !

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