Pick of BL commodities - December 1, 2024

Last week, the Indian government announced that it will begin offloading 2.5 million tonnes of wheat in the open market from its buffer stocks. Imports of di-ammonium phosphate increased by 59% in October but it was still short of demand. The black thrips, a nemesis of the chilli crop, is back again after a year’s gap, while India faces stiff competition from Pakistan in the rice market. Maldives says part of its sugar shipments from India under special bilateral trading has gone missing, while India has denied that it has misled the WTO agriculture panel on support prices for wheat and rice...

1. The Centre has decided to allow the Food Corporation of India (FCI) to offload 25 lakh tonnes (lt) of wheat in the market under the Open Market Sales Scheme through e-auction to flour mills and other manufacturers of wheat products, processors and end users, the Food Ministry said in a statement on Thursday.

2. The import of Di-ammonium phosphate (DAP), a key fertiliser for Rabi crops wheat, mustard, and chana (gram), surged 58.6 per cent to 8.17 lakh tonnes (lt) in October 2024 from 5.15 in the corresponding period last year. However, it has not been able to meet the demand for the month, which is estimated at 18.69 lt.

3. After a year’s gap, the dreaded black thrips infestation has surfaced in the chilli crop once again around Ballari, a key growing region for the spices crop in Karnataka, and parts of Rayalaseema in Andhra Pradesh. Also, the pest has reportedly surfaced in Haryana this year, where chilli is grown under protected cultivation.

4. Rice prices in the global market have begun to firm up after dropping over 10 per cent. Still, Pakistan is offering tough competition to India with its competitive pricing.

5. Maldives has said a part of sugar shipments to be imported from India through special provisions under a bilateral agreement is “missing”. Male has begun “scrutinising” the shipments from India, an official of Maldives State Trading Organization (STO) told the local media.

6. India has “unequivocally” rejected the counter-notification issued earlier this month by five countries at the WTO—US, Australia, Canada, Argentina and Ukraine, targeting India for allegedly under-reporting its market price support for rice and wheat. The country’s representative pointed out that the notice was inaccurate and based on selective interpretations of WTO rules, said a Geneva-based trade official.

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