Global commodity food prices fall for fourth straight month on weak demand as economies shrink due to pandemic

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Global commodity food prices fell for the fourth consecutive month in May, as supplies appear strong and demand weakens due to economic contractions triggered by the COVID-19 pandemic, the Food and Agriculture Organization (FAO) of the United Nations reported today. The FAO Food Price Index, which tracks international prices of the most commonly-traded food commodities, averaged 162.5 points […]

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Prices of dairy products in India unlikely to rise in short term after lockdown hits demand, says CRISIL

Supply chain disruptions in the early weeks of the two-month nationwide lockdown and bread-and-butter issues for hotels, restaurants and cafes that had to shutdown, have materially reduced demand for dairy products in India, ratings and research firm CRISIL said in a report. This is despite supply of most dairy products continuing during the lockdown, since […]

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Global food commodity prices drop further in April due to coronavirus, says FAO

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World food commodity prices declined for the third month in a row during April, as the economic and logistical impacts of the COVID-19 pandemic resulted in significant contractions in demand for many commodities, the UN food agency said in its latest monthly report. The FAO Food Price Index, which tracks international prices of the most commonly-traded food commodities, […]

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Dairy industry severely hit by Coronavirus lockdown; Assam farmers throwing away thousands litres of milk each day

The dairy industry in Assam is facing lots of hurdles which has severely impacted the livelihood of thousands of dairy farmers in the state. The farmers are left with no option but to throw away thousands litres of milk each day. As per reports, dairy farmers in Jorabat area of Kamrup district are waiting for the state government to ease restrictions […]

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Mother Dairy says ready with contingency plans to deal with Coronavirus disruptions; milk supplies in place

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Dairy major Mother Dairy, which has a dominating presence in India’s national capital region (NCR), said it had drawn up contingency plans to keep its supply chain intact to meet with any demand pressure in the coming weeks, reports Ritwik Sinha. All of India is currently under a three-week lockdown declared by the government in […]

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Weakening demand, falling oil prices on COVID-19 drive down global food prices in March – FAO

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World food prices declined sharply in March, driven mostly by demand-side contractions linked to the effects of the COVID-19 pandemic and the drop in global oil prices due mostly to expectations of economic slowdown as governments roll out restrictions designed to respond to the health crisis, the UN food agency said in its latest monthly report. The FAO […]

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NABARD infuses Rs 1.46 lakh crore in rural banking system

National Bank for Agriculture and Rural Development (NABARD) said it has infused Rs 1.46 lakh crore in the rural banking system during the current fiscal. NABARD has been extending financial support to the banks operating in rural areas to help them deploy their resources effectively for meeting the credit needs of rural people, including farmers. […]

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Dairy sector likely to attract Rs 60,000 crore over 5 years

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The country’s dairy sector hopes to see up to Rs 60,000 crore of new investment and creation of 10 million jobs in five years, in the wake of the Union Budget proposals, reports Business Standard. The finance minister had announced a target of doubling the annual milk processing capacity to 106 million tonnes, from the existing 53 million tonnes. […]

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