Indonesia is expected to soon open the doors for Indian sugar, according to traders. Although sugar export has picked up this season, it is still not enough to meet the target set up by the government of India. This has prompted the government to issue new guidelines directing the reallocation of export quotas from mills that haven’t […]
The Cotton Corporation of India (CCI) has procured about 40 lakh bales of cotton as part of its MSP procurement operations so far during the season, amounting to 25% of the crop arrivals in the market, top officials of the corporation said to the Financial Express. CCI’s target is to procure nearly 90 lakh bales. […]
The government slashed import duty on refined palmolein from 50 per cent to 45 per cent, while that on crude palm oil (CPO) from 40 per cent to 37.5 per cent with immediate effect, a move that the industry opposed saying it will hurt domestic refiners. A notification in this regard has been issued by […]
India’s wheat production could jump to a second consecutive annual record in 2020 as the wettest monsoon in 25 years is set to help farmers in expanding the area under the winter-sown crop while also boosting yields, industry officials told Reuters. But that higher production would add to India’s already swelling inventories, potentially forcing the world’s second-biggest wheat producer to […]
The Cabinet on Wednesday increased the authorised capital of Food Corporation of India (FCI) to Rs 10,000 crore from the current Rs 3,500 crore. The Cabinet Committee on Economic Affairs (CCEA), chaired by Prime Minister Narendra Modi, has approved increasing the authorised capital of the FCI. “With the increase of authorised capital, additional equity capital […]
High cotton production due to greater-than-average rainfall in the country and increased sowing by farmers may adversely impact prices. As per Cotton Corporation of India (CCI) estimates, cotton production is likely to increase 13.6 per cent to 35.5 million bales (170kg) for the October 2019-to-September 2020 season. Area under cotton cultivation has increased by 6 […]
The domestic paddy prices are staging a modest recovery in the current procurement season after hitting rock bottom levels not long ago coupled with a rugged export market scenario. At the Indian Commodity Exchange (ICEX), the paddy (1121 variety) prices were trading at Rs 3,260 per quintal (100 kg), up by 3.55 per cent, as […]
India’s farm exports are at a severe peril. First, a global oversupply in agricultural commodities has led to constantly declining agricultural commodity prices. To add to its woes, sustained and regular increases in the minimum support price (MSP) of agri commodities by the Indian government has over-priced the country’s agricultural commodities in the world market. […]
India exported 12.51 lakh tonnes of oilmeal during the first six month period of 2019-20 financial year, declined 17% from 14.99 lakh tonnes reported in the same period last year, as per the data compiled by the Solvent Extractors’ Association of India (SEA). According to the data, the sharpest fall is seen in the soybean […]
The new crushing season of 2019-20 is a month away and 56 sugar factories in Maharashtra still owe farmers Rs 397.96 crore in cane payment dues for the season that ended a few months ago, according to latest data released by the Maharashtra Sugar Commissionerate. During the season, around 195 factories crushed some 952.11 lakh […]
