The Indian government announced it was raising the minimum support price (MSP) for kharif crops by 50 percent to ensure remunerative prices to the growers for their produce. The government’s strategy is one of promoting sustainable agriculture with diversified cropping pattern matching with the country’s agro-climatic conditions, towards higher productivity without jeopardising nation’s bio-diversity, a […]
Subsidies for agricultural sector during times of crises is not just an Indian phenomenon. Such “pandemics” are global in nature. Farmers who grow crops including corn and soybeans will receive coronavirus assistance payments based on either half of their 2019 production or the supplies they had on hand as of 15 January, 2020, the US […]
The Cotton Corporation of India (CCI) has procured a record 92 lakh bales (of 170 kgs each) from cotton growing regions across the country on Wednesday, according to P Alli Rani, CMD, CCI. This is a global record of procurement by any single agency. The total procurement by CCI is valued at around Rs 25,000 […]
Food grain production in India in the 2019-20 crop year is estimated at a record 295.67 million tonnes, which is higher by 10.46 million tonnes than the production of 285.21 million tonnes achieved during 2018-19, the agriculture ministry said while releasing the third advance output estimate for the period. The production during 2019-20, however, is higher […]
The first forecast by the U.S. Department of Agriculture (USDA) for the 2020/21 marketing year shows record global supply driving use higher as countries begin to recover from the COVID-19 pandemic Global consumption is expected to rebound 11 percent to morethan 116 million bales from the largest recorded drop in USDA’s PS&D database; however, use […]
The Maharashtra government has recalled its earlier decision to allow the sale of BT cotton seeds from May 1. The decision was taken after the state agriculture department approached the Central Institute of Cotton Research (CICR), Nagpur, seeking advice against the backdrop of the Covid-19 pandemic affecting the country. The institute has recommended sale of […]
With the global economy paralysed and supply chains shattered, current projections show an 11.8% decline in global cotton consumption, reducing global trade to 8.26 million tonnes in 2019/20, the International Cotton Advisory Committe (ICAC) said in its latest report. While there is hope for a vaccine or cure, or that warmer weather in the Northern […]
The Cotton Corporation of India (CCI) has resumed procurement of the cotton. It has bought around 25,000 quintal of cotton from farmers in the last 10 days, top officials of the corporation said. CCI chairperson and managing director P Alli Rani said that the quantum of procurement has not been much due to the lockdown […]
The International Cotton Advisory Committee (ICAC) said while the ultimate impact of the COVID-19 virus on the global cotton and textile industry was yet uncertain, the sector had been affected along with the general economy. Brands and retailers are cancelling orders, leaving spinners and textile manufacturers in Asia and Southeast Asia in a financial crisis, […]
To deepen and grow commodity markets in India with an intention to make India a price-setter than a price-taker, the Securities and Exchange Board of India has proposed, ‘one commodity, one exchange’ plan even though currently multiple exchanges are allowed to launch contract on the same commodity to create competition and give choice to investors, says a report in Business […]
