Grains, Pulses & Oilseeds Market Update (03/05/2024)

Recent issues in the Middle East and Black Sea regions have led to a firm up of the global wheat markets, propelling prices upward, while the Australian wheat market has strengthened last week. As we are hearing that APW traded at US$289/MT for CFR BMT for July shipment; APH2 being quoted at US$350/MT to CNF major SEA ports.

This week, as China is on holiday, the market demand has slowed. However, Australian red sorghum no. 1 is currently trading at U$285/MT for CFR Tianjin for July/August shipments. There is no firm interest in Australian GMB processing grade, with trade offers at U$940/MT to CFR Qingdao in containers. Similarly, there is no demand for Kaspa peas, with trade offers heard at U$440/MT for CFR Tianjin in containers. Trade offers for Australian barley stand at U$262/MT levels to CNF major China ports.

Since last two weeks demand for old crop desi chickpeas is strengthening, reflecting interest for May/June shipments from ME, Pakistan & Bangladesh. Despite domestic crop in India and Pakistan on harvest now, we are continuing to see strengthening domestic demand strength in both countries and there is expectation that demand will continue to spike towards end of 2024 due to a tight domestic balance sheet on account of lower planted area. Speculative still whether India will allow duty free imports. Trade offers for CHKM have been reported at U$685/MT for CFR Karachi, but buyer interest remains limited while they receive supplies from domestic crop harvest at an import parity basis U$595-U$600/MT. New crop Oct/Nov/Dec shipment slot Australian CHK1 remains strongly bid by traders in Australia and for CFR markets. Australian CHK1 new crop, with market offers seen at U$770/MT (Oct/Nov/Dec) & CHK1 old crop, trade offers at U$750/MT (June/July) for multiple port options.

The demand for Australian red lentils has slowed down. Additionally, trade offeror NIP1/HAL1 are being offered at U$720-U$730/MT to Indian sub-continent ports (June/July) in containers. Market experts indicate that local market prices have decreased, with Nipper at import buying interest basis of U$695/MT.

Trade activity in Nepal is stagnant due to sluggish market demand. Current trade offers for CHK1 are reported at U$810/MT for CFR Birgunj. Meanwhile, canola is indicated at U$650/MT for CFR Birgunj, yet there is no interest from buyers. 

The market demand for faba beans & lupins is weak in Egypt, with very limited business opportunities in containerized trade compared to bulk shipping, as the local crop harvest is near. Trade offers for lupins have been reported to CFR Damietta in containers at U$490/MT with limited buyer interest. Faba beans earlier bid U$505/MT CFR Damietta in containers but this week demand has waned. Very limited supplies in Australia as bulk shippers chasing limited tonnes with aggressive pricing to fill their shipping commitments in May/June.

On crop plating in Australia, WA and SA are dry sowing with both states receiving limited rain. Qld, NSW and parts of Vic have received good rainfall and expecting more this weekend which should be for seed germination and crop growth.

Disclaimer: Prices mentioned are for indication purpose only

DM us for price indication & firm offers for Australian Grains, Pulses & Oilseeds

Read More

Grains, Pulses & Oilseeds Market Update (12/04/2024)

Australian wheat market sees small price increases at grower level earlier this week but wheat is globally still in bearish trend with large ending stocks as per latest WASDE report. Export demand remains low in SEA regions, with APW containers quoted at low U$280/mt – traded U$273/mt Thailand port; APH2 at U$345/mt to CNF SEA major ports with lack of interest from buyers. China continues to cancel US & Australia wheat bulk shipments as they may be looking at other cheaper origins and their own upcoming harvest for lower priced purchases.

The global oilseed markets, purely driven by middle-east security macros have led crude oil and palm oil price surges. Australian canola prices in turn have also been receiving support last week. With rapeseed harvest from Ukraine, May onwards we may see some global downward pressure in physical markets. Canola container business pricing presently unworkable to Nepal at U$620/mt levels.

In India, with the limited arrival of domestic lentils in the local mandi’s and perceived tight pulses crops balance sheet, there has been some activity in the Australian red lentils market. Trades have been reported at US$720/MT levels for CFR Kolkata in containers for June/July shipment in containers. Australia domestic pricing has surged A$40-A$50 pmt in last 10 days. No demand for faba beans in India, as we heard trade offers at U$490-495/mt to CFR Kolkata with no interest from buyers.

Demand for Australian red lentils and desi chickpeas in Pakistan is sluggish, which is also influenced by the ongoing Eid holiday’s. Reportedly, there is limited buyer interest in the trade offer for NIP1/HAL1 at US$715/mt to CFR Karachi this week.

Australian Lentil export shipments surged by 61% in Feb,24 compared to the previous month; India and Pakistan were the leading buyers, as per ABS.

The Australian chickpea market has traded sideways in both new and old crops this week. There has been limited buying activity from countries such as Bangladesh, Nepal, Pakistan, and the United Arab Emirates. New crop 24/25 (Oct-Dec) crop containers trading with multi-port options around U$720/mt CFR sub-continent/ME ports. There has been very limited grower participation in forward selling of new crop chickpeas just yet but we expect this kind of pricing will be strong motivation for growers to increase acreage planted to chickpeas – we will know more in June once crops are planted.

Chickpea export shipments increased by 44% in Feb,24 compared to the previous month; Pakistan and the UAE were the major importers, as per ABS.

Trade activity in Nepal has been observed, with Australian red lentils trading at US$755/mt levels for CFR Birgunj in containers.

In China, the demand for sorghum is currently stable to low for May/June/July shipments, with trade offers heard at U$302/mt CFR Tianjin in containers this week. Rains at harvest in Queensland have been a bit of dampener for Sorghum trade. Sorghum exports dropped by 51% in Feb,24 compared to the previous month; China and Japan remained significant markets, as per ABS.

As we learned on GMB demand that due to the availability of GMB from other origins at lower prices, interest in Australian GMB has diminished; the quoted price for Australian GMB at US$940/mt to CFR Qingdao in containers.

Australian barley trade offers at U$270/mt to CNF China major ports with lack on interest. Barley exports, including feed barley, decreased by 38% in Feb,24 compared to the previous month, while malt barley exports fell by 63% during the same period; China continued as the primary buyer for both malt and feed barley, as per ABS.

Since last 2-3 weeks no significant demand is coming for faba beans & lupins from Egypt as Eid holiday’s going on. Australian faba beans are now on a tight balance sheet with limited availability of good quality beans in Victoria and South Australia. Prices have steadily increased, we can expect some more beans for export container business to only show in July post FY close for growers.

Disclaimer : Prices mentioned are for indication purpose only

DM us for price indication & firm offers for Australian Grains, Pulses & Oilseeds

Read More

Grains, Pulses & Oilseeds Market Update (05/04/2024)

Australian wheat market has remained relatively unchanged over the past month, slight uptick in domestic bids of A$2-A$4 pmt last week – largely reflective of AUD/USD movements and demand and supply tightness for APW or higher grades whilst demand for ASW type is lower. Global wheat markets have been largely flat with no significant supply concerns and a large northern hemisphere crop expected.

Australian wheat exporters finding it difficult to secure new export business & also facing stiff competition from black sea wheat. We are hearing freight costs to SEA ex CIS going up which may open up some markets for Australian product. As we heard that APW is quoted at U$275/mt and APH2 at U$330/mt to CNF major SEA ports & also getting enquiries for feed wheat from China, buying idea at U$245/mt levels to CNF China ports.

The sorghum crop in Southern QLD has come under the weather with harvest stopping and some expected quality downgrades in SE QLD due to wet harvest. Later crops in Central QLD and Northern NSW should be ok. Quiet week on Sorghum as growers have stopped further selling and bids from shorts at slight uptick of A$2 to A$4 pmt upcountry.

In China, there’s continuing demand of Australian red sorghum forward shipments, particularly for July/August shipments, while interest in May/June or June/July shipments is lackluster due to slower consumption in Chinese markets. Bid levels CFR China ports around U$285 for Jul/Aug.

Green Mung beans are quoted at U$930/mt levels to CFR Qingdao, but there’s currently sideline interest from buyers. They are wanting to see quality of harvest currently underway. Some SE QLD mungbeans crop have quality issues now post 4 days of heavy rains in the region.

The Kaspa peas demand in China is slow with reports of small quantities trading at around U$415/mt levels to CFR Tianjin in containers. Australian barley is also being traded in China, with offers at U$265/mt to CNF China major ports for containers.

Australia’s local desi chickpea market is relatively quiet, with demand from key countries like Pakistan, Bangladesh, UAE, and Nepal is sluggish, possibly picking up post-Eid according to market experts. Limited stocks and limited grower/trader selling have kept Australian chickpeas at flat price levels, no urgency to sell.

In Bangladesh, as Eid approaches, demand for Australian red lentils, CHK1, and Canola has slowed. As we heard that trades reported for Canola at U$540/mt levels and NIP/HAL1 at U$695/mt to CFR Chattogram.

Nepal’s market has been sluggish over the past 5-6 months, with Australian red lentils trading at $725/mt to CFR Birgunj; Canola has been priced out with container buyers pursuing market rally in last 1 month. Australian canola prices have been very strong on back of significant demand in bulk export markets on account of being still discounted to Canadian canola seed. Expect market offers around U$625-U$630/mt CFR Brigunj in containers.

Egypt’s market shows no major demand on containers business. Hearing trade offers for Faba beans at U$485/mt and Lupins at U$505/mt to CFR Damietta with no buying interest. Container transit at 95 days plus due to Red sea issues. Due to Red Sea issues most faba demand shifted to bulk vessels which have now priced out container business with bulk buyer Portland bids in Victoria at about A$600 port.

Pakistan experiences slow demand as Eid approaches, with Australian red lentils trade offers at U$690/mt to CFR Karachi. No demand in desi chickpeas.

In India, as the domestic harvest of chana and lentils is expected within two weeks, the demand for Australian red lentils remains low. Only a few trades have been reported for NIP/HAL1 at U$690/mt CFR Kolkata for shipments scheduled in May/June/July shipments. IMD warns extreme heat Apr-June period though rabi harvest may not be significantly impacted as crops have matured. Monsoonal impact yet unknown, though any anomalies may impact kharif crop. Food inflation still a worry for India due to low carrying stock on various grains and pulses and summer weather impact on other food categories in horticulture and fodder crops.

East coast of Australia has received some good March/April rains which will provide better moisture to plant the winter crop, though Western Australia has been dry which is a concern to winter crop prospects. We will know more on winter crop planting in a months time. Growers now gearing up to start planting winter crop in the East Coast from end April onwards.

Disclaimer : Prices mentioned are for indication purpose only

DM us for price indication & firm offers for Australian Grains, Pulses & Oilseeds

Best Regards

Read More

Grains, Pulses & Oilseeds Market Update (15/03/2024)

This week, the global wheat market experienced notable developments. China’s cancellation of 504,000 Tonnes of US wheat and the postponement of Australian wheat shipments could be attributed to a market slowdown. The absence of trades in Australian wheat, due to competitive pricing from other sources, has led to a subdued market atmosphere in the SEA region. Price quotations for forward shipments indicate APW1 at U$270/mt and APH at U$335/mt for key CNF SEA ports in containers.

Since China return from vacation, we have observed a robust demand for Australian red sorghum in China. Currently trading at U$295/mt levels for CFR Tianjin in containers, we are also getting advance inquiries for sailing shipment in June/July, and July/August. Australian GMB is being quoted at U$940/mt levels for CFR Qingdao in containers, as we have learned from the market, and there is a demand for forward cargoes for May/June shipments. Over the past two weeks, Chinese bids for Australian Kaspa peas have climbed to U$420/mt levels for CFR Tianjin in containers.

In light of Ramadan, the market demand in Pakistan for Australian red lentils and Desi chickpeas has seen a decline over the past two weeks. The last reported transaction for NIP1/HAL1 was a container trade to CFR Karachi at a price of US$700/mt.

The market demand for Australian red lentils in India has seen a decline over the past fortnight, attributed to the ongoing harvest. Currently, buyers are showing a lack of interest. There have been couple of forward cargoes trades reported for NIP1/HAL1 at US$690/mt for July shipments.

Last week we are noticing certain forward deals reported of Australian desi chickpeas new crop (24/25) was traded at US$695/mt , with multiple port options (Mundra/Jebel Ali) Oct/Nov shipments.

In Nepal, there has been no major developement in trade activity in Australian red lentils, Desi chickpeas, and canola seeds.

In the current market scenario, Nepal’s trade activities involving Australian red lentils, Desi chickpeas, and canola seeds remain stagnant. Hearing from market sources that few trades reported of NIP1/HAL1 at U$720/mt; Canola bids at U$575/mt to CFR Birgunj.

Egypt continues to struggle against foreign currency. Owing to the diminished demand for Faba beans, trades reported last week at US$465/mt to CFR Damietta.

Disclaimer : Prices mentioned are for indication purpose only

DM us for price indication & firm offers for Australian Grains, Pulses & Oilseeds

Read More

Grains, Pulses & Oilseeds Market Update (08/03/2024)

As per recent report of ABARES, 23/24 crop production for wheat at 25.96 MMT (2% below 10 yr average), barley at 10.8 MMT (4% below 10 yr average), and canola at 5.68 MMT which is still higher production than long term average crops.

Australian wheat market has remained flat with little demand and growers choosing to hold back on sales. Australian wheat is still not competitive against other wheat origins into SE Asia. No significant demand into China as well. Russian and Ukraine continue to ship out their wheat at 10-15% higher pace than same time last year and at a significantly cheaper price than Australian and US wheat.

In SEA region, we are getting inquiries for Australian wheat forward shipments. This week we heard trade offers quoted for APW1 to U$270/mt levels & APH2 to U$332/mt levels to CNF SEA major ports in containers. Bit of an uptick in shipments of wheat in containers ex Australia as per latest stats – is increased by approx. 25% from Dec,23; as Taiwan, Indonesia, Thailand are main buyers. Exports of bulk in vessel is increased by 104% from Dec’23; as China & Indonesia remained top buyer as per ABS.

Australian red sorghum is in demand this week in China, trading at U$290+/-/mt to CNF China main ports. Also, Australian green mung beans are also gaining some interest, with quotes between U$945-950/mt to CFR Qingdao in containers May shipments. Interest in Kaspa peas seen earlier this week at USD 415/mt main China ports.

India’s demand for Australian red lentils is slow due to domestic rabi crop harvesting on cards, as we heard from the market sources that with few forward cargo trades of NIP1/HAL1 at U$700/mt for June shipments in containers. There was a slight uptick in forward demand earlier this week which was mainly driven by lower mandi arrivals in India coupled with some fear of increased government purchases which may decrease stock availability. However, with an exportable surplus of 800,000 MT+ from Australia and significant stock at government warehouses, any surges should be limited.

Australian desi chickpeas & lentils are experiencing a bearish market in Pakistan due to the Ramadan festival and local crop harvesting on the cards, as heard from the market source that lentils vessel of 22K is arrived at port & also desi chickpeas vessel of 16K enroute to Pakistan, as result local market is down at the moment. This week heard trade offers for NIP1/HAL1 at U$695/mt levels to CFR Karachi in containers. Desi chickpeas – no demand forthcoming with seller quotes ranging $640 CHKM to $690 CHK1 (23/24)

Interest in Australian KASPA PEAS and CHK1 has been observed in Bangladesh, with trade offers quoted at U$460/mt levels & U$685/mt levels to CFR Chittagong in containers. Limited sales though with LC opening issues still ongoing.

No movement / demand in Nepal for Australian lentils, desi chickpeas & GM canola seeds in CFR Birgunj.

Egyptian pound devalued almost 50% this week, from 31 pounds to the dollar to 50 pounds/dollar, stabilised at 49.5. USD inflows expected to increase which may assist USD availability. No demand for faba or lentils from Egypt this week.

The Australian dollar experienced 1% jump this week, now trading 0.6632.

DM us for price indication & firm offers for Australian Grains, Pulses & Oilseeds

Read More

Grains, Pulses & Oilseeds Market Update (23/02/2024)

Global wheat market still dominated by Black Sea wheat. Australian wheat is having difficulty because of the sluggish demand in the SEA region; this week, APW1 and APH2 were quoted at U$280/mt levels and U$340/mt levels to CNF major SEA ports in containers.

China is returning from vacation & we are seeing demand for Australian red sorghum, as heard this week trading at U$290/mt levels at CFR Tianjin. We have learned that Australian Mung beans were quoted at U$980/mt levels to CFR Qingdao. This week bids for Australian Kaspa peas are improving to U $400/mt levels to CNF China major ports in containers.

Australia’s red lentils are currently in slow demand in India; we learned last week that NIP1/HAL1 is trading in containers for CFR Kolkata at U$690–695/mt levels in containers. As reported last week, there is not much demand for faba beans, as heard Faba beans traded at U$445/mt levels to CFR Kolkata.

Yesterday, India extended yellow peas import time till 30th April 2024, Also heard from the market source that small quantity of Australian desi chickpeas traded at U$685/mt to CFR Mundra & multiple port options in containers this week.

In Pakistan, we are observing sluggish demand for Australian red lentils & we hearing Australian red lentils trading at U$700/mt levels.

In Nepal, no significant demand for Australian red lentils, chickpeas & GM canola. As we heard GM canola trade offers at U$575/mt levels to CFR Birgunj in containers.

We are seeing minimal demand in Egypt for Faba beans & as we are hearing trade offers at U$495/mt to CFR Damietta in containers.

DM us for price indication & firm offers for Australian Grains, Pulses & Oilseeds

Read More

Grains, Pulses & Oilseeds Market Update (09/02/2024)

Global wheat market is bearish, as market experts are anticipating rise in demand post Chinese New Year as China being key buyer. Australian wheat remains quiet due to lack of export demand from offshore market.

Very small demand from SEA millers for Australian wheat, as we heard APW1 being quoted at U$305/mt levels; APH2 being quoted at U$360/mt levels to CNF SEA major ports.

Export of wheat containerized increased by 11% in Dec,23 (134,782 MT) compared to previous month Nov23(121,487 MT); major buyers are Thailand, Vietnam & China. Export of bulk in wheat increased by 26% in Dec,23 (1,267,514 MT) compared to Nov,23 (1,007,848 MT); Top importers are China, Philippines & Indonesia in December as per ABS.

Australian desi chickpeas demand remains slow as no participation from Nepal, UAE, Pakistan & Bangladesh already covered Ramadhan demand in December. Small pocket size demand from Bangladesh at about U$685/mt CFR Chittagong levels.

Export of chickpeas increased by 189% in Dec,23 (94,763MT) compared to Nov,23 (32,697MT); most bulk shipments only executing. Main buyer is Bangladesh in December as per ABS.

We observe a strong demand for Australian red sorghum as China’s new holidays get near, and we have heard that sorghum is trading for between U$295-U$305/mt to CNF China major ports. Australian mung beans are trading in containers to CFR Qingdao at U$950-955/mt levels.

Kaspa peas no significant trade demand against cheaper Russian yellow peas at U$380/mt to CNF China major ports; Australian barley not competitive against Russian barley at U$240-245/mt levels to CNF China major ports in containers.

Exports of Lentils increased by 99% in Dec,23 (237,345 MT) compared to Nov,23 (119,134 MT); Top importers are India & Bangladesh in December as per ABS. Onoing demand from India at sub/par U$700–U$710/mt to CFR Kolkata/NS all the way upto June,24 shipment period. Limited volume trades in containers as margins have eroded for traders and significant grower selling resistance below these levels. India’s Rabi crop outlook is key factor in determining price direction and demand on lentils in the coming months. Extended period of cold weather and sudden change of temperature in crucial Feb/Mar period may have an impact on yield – remains to be seen.

The Pakistani domestic desi chickpea crop is gaining attention as it could potentially determine the new direction and price in the market. Currently no demand forthcoming and with elections counting underway we expect market to be quiet for atleast next 1 month till a stable government is sworn in with new direction and cues to trade.

We are observing minimal trade activity in Australain lentils into Pakistan & heard trade offers for CHKM at U$620/mt levels & NIP1/HAL1 at U$715/mt levels to CFR Karachi in containers.

In Bangladesh, observing trade activity in Kaspa peas, which trading at U$445/mt levels to CFR Chittagong. As we heard trade offers for NIP1/HAL1 at U$695/mt levels and CHK1 at U$690/mt levels to CFR Chittagong in containers for prompt shipments.

Presently, there is no significant demand in Nepal for Australian lentils, CHK1, or canola, but buyers are bidding at lower prices for NIP1/HAL1 at U$725-U$730/mt levels; CHK1 at U$650/mt levels; canola at U$570/mt levels – all CFR Birgunj which are not viable as Australian replacement cost is higher.

Containerised exports of pulses and grains remain subdued in Q1 on account lower demand from destinations who have remained well fed by northern hemisphere origins as growers in Australia continue to dribble out only small quantities of all grains and pulses and there is significant resistance to selling below target values. Pulses export volumes continue to be driven by bulk vessel exports of lentils, chickpeas and faba beans to Indian sub-continent and Middle East markets.

We are attending GPC Pulses 24 conference in New Delhi from 14th Feb 24 to 17th Feb 24 and subsequently also attending Gulfood event at Dubai from 19th Feb 24 to 23rd Feb 24, please feel free to reach out to us for a catch up/discussion or just to say hello if you are attending any of these events.

Disclaimer : Prices mentioned are for indication purpose only

DM us for price indication & firm offers for Australian Grains, Pulses & Oilseeds

Read More

Grains, Pulses & Oilseeds Market Update (12/01/2024)

Global wheat markets experienced a seasonal slowdown during the festive season break, while Australian wheat markets remained quiet as well. In SE Asia region, APW being quoted at U$305/mt levels & AH2 being quoted at U$385/mt levels to CFR major SEA ports.

In desi chickpeas, experiencing slow demand in new crop from any destination. Nepal is completely absent from participation. No price parity in Pakistan & Bangladesh market.

Australian lentil demand is bearish in India, we heard trade offers for NIP1/HAL1 at U$735-740/mt levels to Kolkata with no firm buying interest. Limited trades reported last week between at U$710-715/mt levels in containers.

We are seeing some trade activities in Pakistan around desi chickpeas as Ramadan is near buyers are trying to secure coverage in Jan shipments. We heard trade offers for CHKM quoted at U$625-630/mt levels to CFR Karachi for Jan shipments in containers & also we are hearing trade offers for NIP1/HAL1 at U$730/mt levels to CFR Karachi in containers.

In Nepal, no major developments are observed in Australian lentils, desi chickpeas & Canola seeds. As we are hearing buying idea for GM Canola min.44% at U$580/mt levels to CFR Birgunj in containers.

The Chinese market is silent as no firm demand coming for Australian barley & KASPA PEAS. Buyers are receiving trade offers of Russian barley at U$230/mt as the feed market searches for low-cost barley. For Australian sorghum, we are hearing buying idea at U$320-330/mt levels for new crop to CNF China major ports in containers.

In Egypt, we are observing some activity in Faba beans, as we heard trade offers for Faba beans quoted at U$485/mt levels to CFR Damietta in containers.

The Bangladeshi market is silent, no participation from buyers.

Disclaimer: Prices mentioned are for indication purpose only

DM us for price indication & firm offers for Australian Grains, Pulses & Oilseeds

Read More

Grains, Pulses & Oilseeds Market Update (08/12/2023)

Global wheat market has been bullish due to spike in Chinese business of US wheat, they covered roughly 660,000 tons recently. Australian wheat markets have seen a boost due to the bullish strength on the boards. However, demand still lackluster and with expected slow export pace from CIS, there should be uptick in demand for Aus’s wheat in Q1.

As per ABARES, projection estimate lifted in December winter crop report on Wheat 25.5MT, Barley 11.1MT, Canola 5.5MT, Lentils 13.93MT, Chickpeas 528KT, Faba Beans 484KT, Field peas 238KT, & Lupins 524KT.

Grower selling on wheat has been generally slow this harvest with lower demand for export and lower grower engagement, however recent weather events in SA & VIC have protein spreads increase due to majority of wheat being harvested falling into ASW/APW range.

In chickpeas, demand for new crop Australian chickpeas is currently at a standstill, with little demand from any destination. No price parity into Pakistan, Bangladesh with limited interest and Nepal completely absent from trade.

In China, lackluster demand for Australian Kaspa Peas although with significant jump to Canadian YP due to India relaxing import restrictions, we hope to see some market reaction from China. We are observing demand for Sorghum (old crop) which trading at U$ 350/mt levels to CNF China major ports & no firm interest coming for Sorghum (new crop) as we heard trade offers at U$330/mt levels to CNF China major ports in containers for March/April shipments. On Australian barley facing competition with Argentina & Russian barley, we heard trade offers for Australian barley at U$270/mt levels to CFR Tianjin in containers.

In Pakistan, observing minimal trade demand for Australian red lentils, as we heard NIP1/HAL1 trade offers at U$730/mt levels to CFR Karachi in containers for Jan/Feb/March shipments. Some business earlier this week reported at U$720-725 levels CFR Karachi.

In India, no firm demand coming for Australian red lentils, we heard trade offers at U$720/mt levels to Kolkata in containers. We observed some small activity’s in faba beans over last week, which is trading at U$440/mt levels to Kolkata in containers.

Recently, India removed import duty on yellow peas to nil from 50% & allows import till 31st March 2024. More on next market report on market reactions and demand. Currently buyers and sellers are scoping trade direction and price discovery underway.

In Nepal, no major trade acitivity happening at the moment for lentils, desi chickpeas & canola seeds

Disclaimer: Prices mentioned are for indication purpose only

DM us for price indication & firm offers for Australian Grains, Pulses & Oilseeds

Read More

Grains, Pulses & Oilseeds Market Update (24/11/2023)

Global wheat markets are hampered by the large export capacity of Black Sea grain producers, which results in a surge of cheap Russian/Ukrainian wheat shipments.

Australian wheat markets are experiencing lower prices due to harvest pressure and a stronger Australian dollar. Limited containerized export sales to SE Asia with pricing being quote APW USD 305 to USD 310 pmt – CFR major SEA ports & APH2 being quoted sub-USD 380’s pmt vs competing CWRS in bulk cheaper under USD 350’s into SEA.

In Desi chickpeas, sluggish demand for new crop coming from offshore market. Containerized business demand is limited for all destinations and no strong inclination of Australian sellers to sell at lower values. Keeps the market illiquid.

In lentils, VIC & SA lentils price roses due to market shorts to fill in early packing slots, despite of rise in Australian dollar since last week. VIC harvest deliveries have started.

In India, we are observing not much trade demand for Australia red lentils from the market. We heard trade offers for Nipper/Hallmark#1 to USD 725 levels in containers with no buying interest. Limited trades reported last 2 weeks between USD 715 to USD 720 pmt mark.

In Pakistan, observing minimal demands for Australian lentils. As we heard the Nipper/Hallmark#1 trade offers USD 725/mt levels to CFR Karachi in containers to final buyer.

In Bangladesh, we are getting enquiries for canola min.42% & also we heard that GM canola min.42% traded at USD 545/mt levels to CFR Chittagong in containers.

In Nepal, no major demands for Australia lentils & desi chickpeas. While in canola we see couple of inquiries last week with limited buyer interest. Buyers seeking values of USD 580+/- CFR Birganj with limited trades reported last week, Australia market remains strong with ongoing VIC canola seed harvest values not allowing any trade margins at these CFR values.

In Egypt, sluggish demand for Faba beans & lentils since last 3 weeks. We heard that Faba beans trade offers at USD 425/mt to CFR Damietta, though limited selling interest at these values and currency availability continuing issue with this destination.

Disclaimer: Prices mentioned are for indication purpose only

DM us for price indication & firm offers for Australian Grains, Pulses & Oilseeds

Regards

Read More