Fitch Ratings makes further cuts to global GDP forecasts, but says global recession bottoming out; India decline seen at 5%

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Fitch Ratings said it was making further cuts to world GDP forecasts in its latest Global Economic Outlook (GEO), but added that the slump in global economic activity was close to reaching its trough. “World GDP is now forecast to fall by 4.6% in 2020 compared to a decline of 3.9% predicted in our late-April […]

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Chhattisgarh government to grant lac farming the status of agriculture: Bhupesh Baghel

Chief Minister of Chhattisgarh Bhupesh Baghel has agreed to the forest department’s proposal to declare ‘lac cultivation’ as an agricultural activity, saying that it would make it a lucrative endeavor for the farmers. Baghel instructed the Agriculture, Forest & Cooperative Departments to present a proposal in the next cabinet meeting to include ‘lac’ as well […]

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Prices of dairy products in India unlikely to rise in short term after lockdown hits demand, says CRISIL

Supply chain disruptions in the early weeks of the two-month nationwide lockdown and bread-and-butter issues for hotels, restaurants and cafes that had to shutdown, have materially reduced demand for dairy products in India, ratings and research firm CRISIL said in a report. This is despite supply of most dairy products continuing during the lockdown, since […]

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NCDEX launches agriculture index futures, trading to start today

The National Commodity and Derivatives Exchange (NCDEX), India’s largest farm produce-centric online trading platform, has launched Agridex, a purely indigenous agriculture composite index futures trading system. The new index will start trading from today, 26 May, 2020. Agridex is totally domestic and will represent produce grown in India. The index is also not linked to any external […]

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Government asks RBI to remove sugar from negative list as virus hits consumption

The Covid-19-triggered lockdown has resulted in a drastic fall in sugar consumption across the country, as most sweetmakers were on a sabbatical. The lockdown has also accumulated farmer arrears. Against such stark realities, the central government is believed to have advised the Reserve Bank of India (RBI) to remove the beleaguered sugar sector from its […]

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Farmers woes to increase by Draft Order to ban 27 pesticides: CropLife India

After the government’s move to ban 27 pesticides in India, various agricultural organization and associations are opposing the draft bill. As per reports, the Ministry of Agriculture and Farmers Welfare issued a draft order on Monday outlining the pesticides set to be prohibited from manufacturing, sale, and import, which it said are “likely to involve risk to human beings and animals.” […]

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Rains improve U.S. wheat prospects; soybean market sag on Hong Kong tussle; gold looking at losses

A forecast for rain promised much-needed relief to dry soils in the U.S. plains, improving wheat crop prospects this season. After Beijing announced new national security legislation for Hong Kong after last year’s pro-democracy unrest, soybean markets sagged on concerns about export demand. U.S. President Donald Trump warned that Washington would react “very strongly” against […]

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