Maharashtra sets up high level committee to probe into co-op banks loans to sugar mills

The state government of Maharashtra has set up a high-level committee, led by principal secretary (financial reforms) Rajgopal Deora to probe into the loans by cooperative banks to several cooperative sugar and spinning mills despite negative NDR (net disposable resource). The state government had stood in as the guarantor for the loans since the RBI and NABARD […]

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As Soya futures hit new high, SOPA seek NCDEX’s support to curb speculation

As soyabean futures touch a record high of Rs9,106 per quintal, Indore-based Soyabean Processors Association of India (SOPA) has urged the National Commodity and Derivatives Exchange (NCDEX) to take notice that the soybean futures contract on its platform has been completely taken over by the speculators. In a letter written to NCDEX, SOPA said, “Over […]

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India’s sugar production estimated to remain steady at 31 million tonnes during 2021-22: ISMA

India’s sugar output during 2021-22 is estimated to remain flat at around 310 lakh tonnes in the next marketing year starting October on higher diversion of cane juice for ethanol manufacturing, according to industry body ISMA. Sugar marketing year runs from October to September. The total area under coverage for sugarcane is estimated to be […]

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Kharif sowing gradually picking speed, despite delayed rains

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Farmers in Uttar Pradesh, Maharashtra, Haryana and Gujarat have increased sowing activities despite the rainfall deficit during the past fortnight. The India Meteorological Department’s (IMD) says monsoon has revived after a gap of three weeks.  The overall acreage of summer crops at about 50 million hectare was still 10% below last year’s level. Sowing has […]

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Traders protest stock limits on pulses; threaten indefinite strike

Traders in several market committees (mandis) of Maharashtra have stopped purchase and sale of commodities in protest against the government imposing stock limits on pulses. Transactions at Latur, Amravati, Akola, Washim, Khamgaon and other major market committees in the Vidarbha and Marathwada regions have been hit as traders have stopped buying agricultural commodities indefinitely since […]

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ISMA reports India’s sugar production at 30.67 million tonnes till 15 June, 2021; up by 13%

India’s sugar production increased by 13 per cent till 15 June in 2020-21 marketing year on higher sugarcane production, according to trade data. Sugar marketing year runs from October to September. “Sugar mills across the country have produced 306.65 lakh tonnes of sugar between 1st October 2020 and 15th June 2021. This is 35.54 lakh […]

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