Agriculture
Basmati rice export prices plummet below government MEP, global buyers stay away
Export price of basmati rice falls below government-fixed minimum export price, impacting global buyers and domestic prices. Concerns arise over MEP changes, basmati trade competitiveness, and price pressure. Monsoon and La Niña forecasts influence basmati production, while India's rainfall patterns and consumption trends play significant roles.
Wheat procurement crosses last year's figure, comfortable to meet demand: Food ministry
Wheat procurement for the 2024-25 Rabi marketing season progresses smoothly, surpassing last year's total with 262.48 lakh tonnes acquired, benefiting 22.31 lakh farmers. Major states contributing include Punjab, Haryana, and Madhya Pradesh. Rice procurement from the previous Kharif season also proceeds well, ensuring ample stock for welfare programs. Monsoon forecasts remain pivotal for agricultural planning.
Govt plans big scale radiation processing of onions to prevent shortages
Government plans to irradiate onions to create a 1,00,000-tonne buffer stock amidst a projected 16% output decline. Radiation aims to extend shelf life, curb price volatility. Fifty irradiation centers identified near consumption areas; NAFED and NCCF tasked with procurement. Controlled atmosphere storage at railway hubs considered for quicker transportation.
Wheat processors calls for removal of import duty to ease supply shortage
The wheat processing industry is urging the removal of the 40% import duty on wheat to address the shortage in the local market. With government procurement falling behind targets and carry-forward stocks at a 16-year low, industry representatives argue that eliminating the duty would facilitate imports, bolster buffer stocks, and stabilize wheat prices. International wheat prices have surged by over 15% in the last 10 days, making it financially viable for some mills in South India to import wheat if the duty is lifted.
India poised to surpass last year's wheat procurement record
Government agencies set to exceed last year's wheat procurement figure, with current purchases nearing 261 lakh tonnes. FCI officials confident total procurement will reach 270 lakh tonnes. Madhya Pradesh extends procurement period to May 31. Punjab and Haryana record higher purchases. Efforts to boost procurement in Uttar Pradesh as well.
FSSAI warns traders, food businesses against use of calcium carbide for artificial fruit ripening during mango season
FSSAI has urged the Food Safety Departments of States and Union Territories to be vigilant and take stringent action against those violating these regulations. The authority emphasised that using calcium carbide, a hazardous chemical, poses significant health risks and contravenes the Food Safety and Standards Act, 2006, along with its associated rules and regulations.
Onion prices fall by 15% due to lack of export demand
India lifted export ban on onions, impacting domestic and international markets. Exporters face limited demand with Indian onions more expensive than Pakistani onions due to $550 per tonne minimum export price. Overseas buyers stocked Pakistani onions, leading to a crash in prices.
Google Arts & Culture and India's Ministry of Agriculture launch digital exhibit on millets
"The digital exhibition highlights the history of millets from ancient grains to modern-day superfoods, as well as their nutritional benefits, contribution to global climate resilience, and potential to address global food security challenges," a release added.
Potato prices likely to be on hot plate till year-end
Trade sources from Uttar Pradesh, the largest producer of potatoes, said the government has already launched a drive to see whether the cold storage facilities in Agra, the centre of the state's potato trade, were hoarding the tuber to jack up prices. "Once the election is over, there will be state-wide monitoring of the movement of potatoes," one of them said.
Tea Association of India flags a strange phenomenon
Tea Association of India (TAI) stated that the strange phenomenon of drop in crop production with no concomitant rise in prices is in stark contrast to the 2020 scenario when drop in production due to covid closure caused a sharp rise in realization of tea prices.
Must Watch
Government's stance on sugar exports amidst industry demands
ISMA seeks sugar export despite surplus, impacting closing stock projections. Central government prioritizes ethanol over export, aiming to build reserves. Sugar prices rise despite production surprises, with 2024-25 forecast dependent on monsoon.
Production of tea down all over India by 13 million kg
Tea industry in season 2024 faces challenges with production declines, weather issues, and financial stress. Darjeeling sector seeks relief package for survival amidst declining yields and prices.
India extends free import of yellow peas till October
India extends duty-free yellow peas import until October 2024. In April-February FY24, the import of yellow peas was $235.92 million as against $0.14 million in FY23.
Centre asks states to exclude stubble burners from MSP benefits this year onwards
Centre implements Supreme Court suggestion to exclude stubble burners from MSP. Punjab, Haryana to tighten enforcement as paddy cultivation areas rise. CoS directs 'red entry' to bar farmers from benefits, seeking exclusion from MSP operations in 2024-25.
Why lifting of export ban won’t help increase exports or the local prices of onions
Five months after implementing a restriction on onion exports due to anticipated shortages in the rabi harvest, India revoked the ban on Saturday. But this decision is unlikely to significantly impact either export volumes or the reduction of domestic onion prices. Industry sources suggest that the government became aware of growing discontent among farmers, which could potentially influence voting in seven Lok Sabha constituencies in Maharashtra.
How AI and data can bring another green revolution in India
India faces environmental challenges in agriculture, but AI offers transformative solutions. Precision farming, empowered by AI and big data, optimizes resources and boosts yields sustainably. With satellite data and predictive analytics, farmers make informed decisions. AI aids resource management and environmental conservation, but widespread adoption requires collaboration. Farmers' active engagement with data transforms them from beneficiaries to contributors, ensuring a sustainable agricultural future driven by technology.
