Indian government procures paddy worth Rs 1.06 lakh crore so far this kharif season, 25% above normal

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The government has procured 25 per cent more paddy so far in this kharif marketing season at 564.17 lakh tonnes for Rs 1,06,516 crore amid farmers’ protest against three new farm laws. Kharif marketing season runs from October. “In the ongoing Kharif Marketing Season (KMS) 2020-21, government continues to procure Kharif 2020-21 crops at MSP […]

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International Grains Council cuts its forecast for 2020/21 global grains production

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The International Grains Council (IGC) cut its forecast for a record global grains production by 9 million tonnes to 2.21 billion tonnes in 2020/21. The council also trimmed its projection for consumption during the season. In its monthly update, the inter-governmental body cut its forecast for corn (maize) by 13 million tonnes, partially offset by […]

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NAFED to start procuring pulses as prices fall below MSP

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With prices of pulses ruling below the minimum support price (MSP), the National Agricultural Cooperative Marketing Federation (NAFED) has decided to begin procurement from Maharashtra, Gujarat, Karnataka, Telangana and Andhra Pradesh, senior industry people said. NAFED has given a target of nearly 15 lakh tonnes to be procured from these states. Maharashtra has been given […]

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India’s agriculture sector in 2020 – from record foodgrain production to farmer protests

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Indian agriculture sector achieved record foodgrain production and registered positive growth despite the coronavirus pandemic but the massive farmers’ protest at the borders of the national capital against the new farm laws overshadowed its remarkable performance last year. Notwithstanding the cold weather and pandemic concerns, the protest by thousands of farmers, mainly from Punjab and […]

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WEEKLY WRAP-UP – Economic disparity post-pandemic not sustainable

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The new COVID-19 surge remains a near-term threat to the economic recovery. But over the course of the last 10 months, the economy has turned out to be more resilient in adapting to the virus and more responsive to monetary and fiscal policy support than many predicted. The development of several effective vaccines indicates that […]

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Global economy expected to expand by 4 per cent in 2021: World Bank

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As the COVID-19 vaccine started rolling out in many countries, the World Bank expects that the global economy will expand four per cent in 2021, but will still remain more than five per cent below its pre-pandemic trend. “The global economy appears to be emerging from one of its deepest recessions and beginning a subdued […]

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World food prices hit three-year high in 2020 after additional gains in December – FAO

World food prices rose for the seventh consecutive month in December, led by dairy products and vegetable oils, the Food and Agriculture Organization of the United Nations reported. The FAO Food Price Index averaged 107.5 points in December, 2.2 percent higher than in November. Over the whole of 2020, the benchmark index, which tracks monthly changes in […]

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