Agriculture
Govt buys 71,000 tonnes of onion for buffer stock; expects retail prices to ease with normal monsoon
The Indian government has procured nearly 71,000 tonnes of onion this year for buffer stock, out of a total target of 5 lakh tonnes for price stabilisation. The all-India average onion retail price is Rs 38.67 per kg, while the modal price is Rs 40 per kg. The government is on course to achieve targeted procurement of 5 lakh tonnes for price stabilisation. The procurement price is dynamic and linked to prevailing market prices.
Centre committed to procure pulses at MSP to boost production, cut imports: Agriculture Minister Shivraj Singh Chouhan
The Centre commits to procuring tur, urad, and masur at Minimum Support Prices (MSP) to boost domestic production and reduce imports. Agriculture Minister Shivraj Singh Chouhan highlights the launch of the e-Samridhi portal through cooperatives NAFED and NCCF for farmer registration.
India imposes stock limits on tur, chana to cool prices
India has imposed stock limits on pigeon peas (tur) and chickpeas (chana) in efforts to stabilize prices and prevent hoarding amidst elevated food costs caused by reduced supplies from factors like drought and heat waves. The limits apply to traders, businesses, and retailers, with specific caps such as 200 metric tons for wholesalers and five metric tons for retailers. Millers are restricted to either the last three months of production or 25% of annual capacity.
Agri Minister asks states to encourage farmers to register on e-Samridhi portal to avail procurement benefits
Union Minister of Agriculture & Farmers’ Welfare, Shivraj Singh Chouhan, emphasized the government's commitment to procure major pulses like tur, urad, and masur at Minimum Support Prices (MSP). He urged state governments to promote farmer registration on the e-Samridhi portal for assured procurement. The portal, launched through NAFED, facilitates registration for farmers to avail MSP benefits.
Budget expectation of farm sector: Spotlight on agri research, fertiliser subsidy, climate fight in meeting with FM
Budget 2024 expectations: Experts at the meeting advocated for the consolidation of all agriculture-related subsidies for transfer through Direct Benefit Transfer (DBT) and proposed a hike in the retail price of urea, unchanged since 2018. They also emphasized promoting bio-fertilisers and foliar fertilisers through subsidies.
Triveni Engineering & Industries acquires majority stake in Sir Shadi Lal Enterprises
Triveni Engineering & Industries Ltd announced acquiring an additional 36.34% stake in Sir Shadi Lal Enterprises Limited, making SSEL a subsidiary of the company.
African, Asian tea producers flag concerns over global demand-supply mismatch
Tea producers in Asia and Africa called for balance between global demand and supply, highlighting quality and sustainability concerns at a recent industry meeting in Dubai. The Indian Tea Association and other stakeholders addressed challenges such as declining consumption in Europe and Asia, climate change impacts, and economic obstacles like the Russia-Ukraine conflict affecting tea exports. They emphasised the need for coordinated efforts to address these issues and sustain the industry's productivity.
After electoral setback, Modi may be forced to amend India's food policy
Facing policy challenges after recent election losses, Indian Prime Minister Narendra Modi grapples with controlling food inflation without angering farmers through export curbs and increased imports. With crucial provincial elections looming, Modi must balance economic measures and farmer interests to maintain political stability and address rural discontent.
Government of Meghalaya recognizes best performing young farmers with awards and seed-money
The Department of Agriculture & Farmers’ Welfare in Meghalaya awarded cash prizes to eight Best Performing candidates under the 'Training of Rural Educated Youth for Self-Employment on Farm-Based Activities' (TREYSEFA) program. The Minister for Agriculture, Mazel Ampareen Lyngdoh, commended the candidates and highlighted the importance of supporting farmers. Maqbool Suiam, the Principal of BATC, praised the program and its impact on rural youth.
Govt weighs interventions to stabilise rising wheat prices
The government announced its intention to implement appropriate policy measures aimed at maintaining stable wheat prices for consumers across the country. Following a committee of ministers meeting chaired by Home Affairs and Cooperation Minister Amit Shah, the government instructed officials to closely monitor the prices of wheat. Official data indicates that prices of wheat and wheat flour have risen by as much as Rs 2 per kg compared to the previous year.
Must Watch
Combined fall in tea production in north India till June-end seen at 60 Mkg less than in same period last year
Sandeep Singhania, President, Tea Association of India stated that the Production figure of North Indian Tea Industry reflect a precarious state of affairs in the industry, consequent to the constant onslaught of insufficient rainfall and excessive heat, hampering production of the crop to a great extent during the current cropping season up to the month of May 2024.
Escorts Kubota withdraws plan to set up new unit at Ghiloth in Rajasthan
Farm equipment and construction equipment firm, Escorts Kubota Ltd on Wednesday said it has withdrawn its plan to set up a new manufacturing plant at Ghiloth in Rajasthan due to failure to meet all the key requirements for a large-scale project. The company, which has lined up an investment of up to Rs 4,500 crore over the next three to four years to set up a new manufacturing plant, said it continues to explore alternate options with other states, including Rajasthan.
PM Modi releases 17th installment of the PM Kisan Samman Nidhi Yojana, disburses Rs 20,000 cr to over 9.2 cr farmers
Prime Minister Narendra Modi, during his visit to Varanasi, released the 17th instalment of the PM Kisan Samman Nidhi Yojana on Tuesday. The scheme aims to benefit more than 9.26 crore farmers with financial assistance totaling over Rs 20,000 crore. This initiative, launched in 2019, provides Rs 6,000 per year in three installments to land-holding farmers through Direct Benefit Transfer (DBT).
Asian Palm Oil Alliance urges HUL to reconsider its decision to reduce use of palm in soaps by 25%
ET had reported that HUL is reducing use of palm and its derivatives in soap by 25% to offset volatility in commodity prices as well as for environmental reasons.
Onion buffer stock not even 10% of FY25 target
Government's procurement of onions for buffer stock creation for price stabilisation operations falls short of 2024-25 target by 90%. Delay attributed to elections and low purchase rates deterring farmers.
PM Modi to release Rs 20,000 crore of PM-Kisan Samman fund into 9.26 crore bank accounts of farmers today
Prime Minister Narendra Modi is set to release the 17th installment of the PM-KISAN scheme during his visit to Varanasi on Tuesday. More than 9.26 crore farmers will benefit from this, receiving over Rs 20,000 crore. Additionally, the Prime Minister will distribute certificates to over 30,000 self-help groups trained as Krishi Sakhis. The event, organized by the Union Ministry of Agriculture and Farmers Welfare in coordination with the Uttar Pradesh government, aims to support farmers and raise awareness about agricultural practices.
