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 […]
Swarms of the desert locust, which invaded India via Pakistan in April, have made their way to at least five states, leaving a trail of destruction in their wake. Desert locusts move in large groups, called swarms, and can eat crops up to their own weight every day. When millions of locusts descend on a […]
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 […]
Gujarat is poised to witness 40 per cent rise in groundnut production to over 84,000 million tonnes for the summer season of 2019-20 as compared to around 60,000 million tonnes in previous year, says the advanced estimate of state agriculture department. Farmers in Saurashtra and North Gujarat region are heavily banking on groundnut crop due […]
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 […]
India’s agriculture ministry said government agencies had procured a higher amount of wheat than last year despite a national lockdown over fears of a spread of the coronavirus pandemic. Government agencies had procured 341.56 lakh metric tonnes by May 24 against 341.3 lakh metric tonnes, the ministry said in a statement. Winter wheat harvesting generally […]
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 […]
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 […]
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.” […]
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 […]
