India says increasing minimum buying price for summer crops by up to 50 percent

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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 […]

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India says expecting record 297.65 million tonnes of foodgrain production in 2019-20

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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 […]

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CICR recommends cotton seed sales in Maharashtra from May 25

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 […]

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Global cotton consumption to fall 12% due to Covid-19 pandemic, says ICAC

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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 […]

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ICAC lowers global cotton consumption on COVID-19 impact, output estimates unchanged

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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, […]

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Sebi proposes one commodity, one exchange model to make India influence global prices

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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 […]

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