India’s soybean output to increase by 38% this year on higher yields

India’s soybean output is likely to rise significantly by 38 per cent this year on a sharp increase in average yield across the country, following favourable climatic condition in major cultivating states including Madhya Pradesh, Maharashtra and Rajasthan. Data captured through the latest assessment of farmers, traders and other stakeholders by the apex industry body the Soybean Processors’ Association […]

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India’s interim budget 2019-20 offers cash dole to small farmers before general election

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Pitching a strong re-election bid, India’s BJP-led NDA government announced the biggest income tax sops for middle class, including complete exemption for income up to Rs 5 lakh, and Rs 6,000 annual cash dole to poor farmers in a scheme that will cost Rs 75,000 crore per year. Converting a vote on account speech into […]

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Gold demand in India to rise by 25% due to higher MSP to farmers – report

India’s gold demand is likely to surge 25 per cent in the second half of this year on improved purchasing power of farmers owing to higher minimum support price (MSP) for crops announced by the government, a report by Assocham-World Gold Council report. India, the world’s second-biggest buyer of the precious metal, consumes 800-900 tonne […]

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Indian farmers to only partially benefit from new MSP rates, says Ind-Ra

India Ratings and Research (Ind-Ra) agency said that the current problem faced by farmers is essentially an agricultural distress and not a generalised rural distress, and farmers’ distress is essentially emanating from shrinking agricultural margins. It added that farmers will partially benefit from the recent hike in minimum support price that’s been fixed at 1.5 […]

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India delays decision to hike MSP for wheat, announces a 150 per cent hike in support price for kharif crops

Despite farmers group and union’s petition to raise procurement price, the government is delaying the decision on deciding minimum selling price (MSP) on wheat as Prime Minister’s Economic Advisory Council (PMEAC) and Niti Aayog are both against increasing MSP by 50 per cent. They feel this will fuel inflation. “Increasing MSP at this point of […]

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India increases price of ethanol in a bid to help sugar mills and cane farmers

The Cabinet Committee on Economic Affairs (CCEA), has increased the basic price of ethanol produced from C-grade molasses by Rs. 2.85/ litre (or 7%) for the procurement season 2018-19 (starting December 2018). Currently, the price of ethanol derived out of C-heavy molasses stands at Rs.43.70 per litre from Rs.40.85, excluding GST and transportation charges. For the […]

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Cane price rationalisation remains key for oversupply hit sugar industry: ICRA

The domestic sugar sector has been going through a situation of excess supply which has negatively impacted their prospects. To support the industry, the Government of India (GoI) has announced key measures, such as creation of 3 million tonnes of buffer stock and fixing of minimum selling price (MSP) for sugar at Rs. 29,000/tonne. These […]

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