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 […]
India’s auto major Mahindra & Mahindra (M&M) has announced that it is adopting a 58 megawatt-power (MWp) captive solar plant that is expected to generate about 100 million units of power annually beginning 2022. The project is expected to quadruple M&M’s renewable power share from 12 per cent to 56 per cent across its facilities […]
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 […]
Hot and spicy red chillies continue to top the export basket of spices from India. And China emerges as the largest importer of Indian red chillies, especially the fiery Teja variety, as it consumes large quantities of the pungent spice. In FY21, India exported 6,01,500 tonnes of red chillies worth about Rs 8,430 crore. The […]
Maharashtra is suffering from excess stocks of skimmed milk powder (SMP). The state’s inventory of SMP has reached nearly 50,000 tonnes. As a result, dairy owners in the state say that they are not in a position to hike milk procurement prices for farmers. Dairies in the state pay farmers Rs 23-24 per litre. Before […]
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 […]
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 […]
Soybean planting is likely to increase its acreage by 5-7 per cent across the country this kharif season despite claims of shortage of seeds. Farmers, however, are keeping their fingers crossed due to the break in monsoon and hope for a revival of the monsoon to ensure a good crop. In the 2020 kharif season, […]
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 […]
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 […]
