India’s food ministry approves Rs 12,500 crore loan to 185 sugar mills to set up ethanol units

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India’s Food Ministry has given in-principle approval to 185 sugar mills and standalone distilleries to avail Rs 12,500 crore of loans to add capacity up to about 468 crore litres of ethanol per annum as part of its efforts to achieve 20 per cent blending with petrol. The move is aimed at boosting ethanol blending […]

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India approves Rs 107.42 crore grant for 28 food processing projects

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The Indian government approved a grant of Rs 107.42 crore for implementing 28 food processing projects spread over 10 states that are likely to generate jobs for nearly 10,000 people.  A decision in this regard was taken in the virtual meeting of the Inter-Ministerial Approval Committee (IMAC) chaired by Food Processing Industries Minister Narendra Singh […]

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States in India asked to waive trade fee (Mandi tax) on e-NAM platform

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After the new farm bills that recently became laws to allow barrier-free trading of agriculture commodities across the country, the Centre has asked states in India to reduce the mandi tax to 0.5 per cent. As a first step, the market fees on the electronic National Agriculture Market (e-NAM) platform must be reduced, the Centre […]

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India’s agri ministry seeks nod for drone-based crop images for efficient crop insurance

India’s agriculture ministry has sought civil aviation regulator DGCA’s (Directorate General of Civil Aviation) nod for allowing shortlisted private agencies operate drones to capture images of rice fields in 100 districts to assess crop yields at gram panchayat level under the Pradhan Mantri Fasal Bima Yojana (PMFBY).  This is the second year the ministry has […]

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National Stock Exchange to launch its first agricultural commodity futures contract from 1 December, 2020

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Leading stock exchange NSE said it will launch its first agricultural commodity futures contract for crude degummed soybean oil on December 1. The contract will facilitate the soybean oils processing and allied industries in India and overseas, a perfect hedging tool for managing their price, the National Stock Exchange (NSE) said in a statement. The […]

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Moody’s says India’s economic contraction this fiscal will be less than forecast

India’s GDP will contract by 8.9% during the current April-March financial year instead of a previous forecast of 9.6%, according to Moody’s Investors Service. The ratings agency has also revised up the nation’s projected growth for the next financial year to 8.6% from a previous forecast of 8.1%. The global economic recovery over the coming year […]

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Peel-Works founder says aiming to cover 2.5 lakh kirana stores, float IPO by 2023

Mumbai-headquartered B2B grocery e-commerce company Peel-Works, which recently raised $3 million, is seeking to take its kirana stores customers count close to 2.5 lakh stores by 2023, its founder said. The company, which currently operates in select geographies of Delhi/NCR, Mumbai, Chandigarh, Bangalore and Chennai, has about 25,000 kirana store customers placing orders via its […]

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India to release national digital agriculture blueprint in December

Indian government will be releasing a national digital blueprint for agriculture in  December with around 100 million farmers on board with the aim of boosting crop productivity, according to Vijay Rajmohan, director of information technology in the Ministry of Agriculture. He told a webinar on agritech held late on Wednesday that the government had already […]

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Interview – FarmERP plans to Uberize India’s small vegetable growers

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Farm ERP co-founder Sanjay Borkar  spoke to Indoasiancommodities.com about their recent efforts to use the same principles as Uber to create an efficient and sustainable value chain for small vegetable growers. His company has been using Enterprise Resource Planning to help the farming community just like any other business. What is your plan for Uberization […]

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