COMMENTARY – Higher sugar MSP positive, but domestic surplus situation overhung

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Authors: Ms. Khushbu Lakhotia, Senior Analyst, Corporate Ratings, India Ratings and Research (Fitch Group) & Mr. Jinesh Rajpara, Analyst, India Ratings and Research (Fitch Group)  The recent hike by Rs. 2 per kilogram (kg) in the minimum selling price (MSP) of sugar to Rs.31 per kg could generate an additional income of Rs.30-35 billion for […]

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US, Canada accuse India of misreporting Minimum Support Price on pulses at WTO

US and Canada have accused India at the World Trade Organization (WTO) of “dramatic under-reporting” of market price support for pulses. The five pulses under scrutiny are Chickpeas, Pigeon Peas, Black matpe, Mung beans, and Lentils. Both countries have submitted their own steeper calculations for inspection of members. India’s market price support for the five […]

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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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IGC revises up world wheat, corn output forecast; India likely to post bumper production

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Total grain production in the 2018/19 marketing year will be 10 million tonnes higher than expected, and global stocks 6 million tonnes more than previously anticipated, as wheat production is expected to rise globally, according to the International Grains Council (IGC). Total wheat production is expected to be 737 million tonnes this year, 8 million […]

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Soybean output in India likely to reach 110 lakh tonnes on high acreage

Due to increase in acreage and conducive weather condition, country’s Soybean output is likely to touch 105 lakh tonne-110 lakh tonnes, industry experts aver. Although there was a drought like situation in some parts of key growing area, Soybean output have not been impacted much. The average production of the previous three seasons is in […]

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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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India procures 38 million tonnes of rice so far in 2017-18; beats target

India’s rice procurement has surpassed the target at 38 million tonnes so far in the ongoing 2017-18 marketing year that will end this month, a senior agriculture ministry official said. The rice procurement target set for this year was 37.5 million tonnes. The government had procured 34.35 million tonnes during the last marketing year (October-September), […]

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