Food Category
Edible oil maker, Ruchi Soya Industries has acquired the entire food business of Patanjali Ayurved under business transfer agreement in a bid to make Patanjali the world’s largest FMCG group. According to a news release by Ruchi Soya Industries, the amount of consideration for the acquisition is Rs 690 crore on a slump sale basis, […]
Prices of food items like cereals, pulses, and edible oils rose or remained steady in May, a Reserve Bank of India (RBI) report said, indicating there could be another higher inflation print. However, it observed that the Monetary Policy Committee’s (MPC’s) surprise move to increase interest rates bodes well for its credibility. The RBI’s monthly State of […]
The Russia-Ukraine war is impacting the Darjeeling’s tea industry, as European buyers are not keen to lift the commodity due to depreciation of the euro that has made imports more expensive for them. Prices of Darjeeling tea fell by half at the auctions mid-May compared with the previous week as a result of weak demand […]
Chicago wheat futures climbed by nearly 6% early this week after India banned exports of the grain, an abrupt policy change that fanned concern about global supply strained by Russia’s invasion of Ukraine. India’s embargo, prompted by a heatwave that has cut harvest prospects and sent domestic prices soaring, has hit hopes of record wheat […]
India, under its crop diversification is promoting farmers to increase maize production through various initiatives. “The MSP of maize has been increased by 43 percent in last 8 years and with the increase in production the farmers are also getting benefited from this,” said Narendra Singh Tomar, Minister of Agriculture & Farmers Welfare. “The popularity […]
India has banned wheat exports with immediate effect as part of measures to control rising domestic prices, according to official notification. However, the export shipments for which irrevocable letters of credit (LoC) have been issued on or before the date of this notification will be allowed, the Directorate General of Foreign Trade (DGFT) said in […]
The head of the Food and Agriculture Organization of the United Nations (FAO) called on G7 nations to help anticipate future food shortages, as the war in Ukraine squeezes supplies, pushes prices to record highs and threatens already vulnerable nations across Africa and Asia. “We need to actively identify ways to make up for potential future […]
The overall sowing under summer crops in India has reached 71.88 lakh hectares (lh) in the first week of May. It’s up by 4.4 per cent from 68.84 lh in the same period last year. According to the data released by the Union Agriculture Ministry, the area under pulses has increased by 18.4 per cent […]
Prime Minister Narendra Modi chaired a meeting of concerned officials for reviewing various aspects of wheat supply, stock and exports. The meeting gains significance as state of Punjab has been reporting sharp fall in wheat production output this season. The ministry of food has sent a second team to Punjab to assess the extent of the […]
The Indian government has permitted additional export of 2,051 tonnes of raw sugar under the tariff-rate quota (TRQ) to America for the US fiscal year ending September 30, 2022, the Directorate General of Foreign Trade (DGFT) said in a notification. With 8,424 tonnes already allocated in October 2021, the total quantity allocated for US fiscal […]
