WHEAT
Govt imposes stockholding limit on wheat to check hoarding
Food secretary Sanjeev Chopra hinted at the possibility of removing import duty on wheat, saying the government is open to all options to keep prices under control. Wheat prices in retail markets are ruling 6% higher than the comparable period of previous year, despite the government's claim of a bumper crop. "I want to dispel the shortage of wheat in the country," Chopra said, adding that the stock limit has been imposed to reduce hoarding.
Centre imposes stockholding limit on wheat to check hoarding, ensure price stability
India has capped wheat stock limits for retailers and processors and may reduce or eliminate import taxes to stabilize prices, said Food Secretary Sanjeev Chopra. This move aims to curb inflation and manage supply, as the government explores various measures to ensure wheat price stability in the market.
Climate-proofing India's daily bread: The race for resilient wheat
Satveer Singh's family relies on a sack of wheat flour to stave off hunger. They barely manage, aided by government rations, despite irregular supply. Extreme weather has slashed India's wheat production, forcing the government to cut rations and halt exports. Efforts are underway to develop climate-resilient wheat varieties, crucial for food security.
Climate-proofing India's daily bread: The race for resilient wheat
Climate change impacts - including harsher heat, drought and floods - pose a major emerging threat to food security in India and elsewhere, accelerating diverse efforts to introduce crops that are better able to withstand shifting conditions.
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.
No proposal to alter duty structure import of wheat: Govt
There have been demand from various industry representatives to reduce the 40% duty on import of wheat to augur domestic supply to contain prices of wheat.
Election results in the onion belt increases hopes of industry and farmers for more farm friendly policies
"Soyabean prices have been low as the crushing of our own crop was less due to higher imports of cooking oils. Low import duties and low prices in the international markets led to a substantial increase in the import of cooking oils," said BV Mehta, executive director, the Solvent Extractors' Association (SEA).
Total foodgrain products in 2023-24 lower than 2022-23: Third Advance Estimate
The total foodgrain production in India is estimated at 3,288.52 lakh tonne in 2023-24, which is lower than 3,296.87 lakh tonnes of foodgrain production of 2022-23, according to the third advance estimates of production released by agriculture ministry on Tuesday.
Will BJP win? This market awaits June 4 results for potential shakeups in India's trade policies & global food prices
India's agricultural markets are under scrutiny as a new government prepares to take office, potentially impacting global food prices. Prime Minister Modi's policies aimed at ensuring domestic supplies have influenced key crop exports. Changes post-election could affect rice, wheat, and sugar markets, with industry leaders seeking policy shifts to address supply and demand challenges.
India set for wheat imports after six years, to shore up reserves
India is set to resume wheat imports after a six-year hiatus to replenish dwindling reserves and stabilize soaring prices caused by poor harvests. The government is expected to scrap the 40% import tax post-election, allowing private traders to source from top exporter Russia. This move is crucial to ensure ample wheat supply in the market and avoid further price hikes.
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.
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.
Govt buys 196 lakh tonne wheat so far, higher than annual demand of 186 lakh ton for welfare schemes
Government exceeds wheat procurement target for welfare schemes, focusing on buffer stocks and open market intervention. Lower purchases in Madhya Pradesh and Punjab. Food Corporation of India strives for 310-320 lakh tonne procurement to stabilize prices.
No reports of impact of rains on wheat, other crops: Agriculture ministry officials
Recent rains have not impacted wheat and other rabi crops, with harvesting progressing smoothly. The IMD predicts continued rain and hailstorms due to a fresh western disturbance. The agriculture ministry assures no damage to crops, with potential benefits for summer crops like rice. Wheat harvesting in Punjab and Haryana is underway, with productivity levels expected to result in a record wheat production for the year. Late-sown wheat crop is also expected to be ready for harvest soon.
India's 2024 wheat output seen at 105 mln tons, 6.25% below govt estimates
India will likely produce 105 million metric tons of wheat this year, lower than the government's estimate. The country, a top wheat consumer and grower, banned exports in 2022 due to a crop shortage. The government aims to bolster stocks and control prices through bumper harvests and strategic reserves management.
India better prepared than Pakistan to handle climate shocks in wheat crop: Agri scientists
One of the reasons behind Pakistan still being dependent on imports to meet domestic requirements is its failure to develop indigenous varieties of climate-resilient seeds.
ICAR issues advisory to wheat farmers on prediction of a harsher summer
ICAR-Indian Institute of Wheat and Barley Research issued an advisory to wheat farmers based on Indian Meteorological Department's prediction of a harsher summer. Farmers in various states were advised on moisture content and irrigation methods for the wheat crop.
Wheat stock declaration requirement extended indefinitely
The Indian government has indefinitely extended the requirement for the wheat industry to declare their stock positions, which was initially set to expire on March 31. Traders, wholesalers, retailers, and processors are mandated to declare their stocks on a portal every Friday starting from April 1 until further notice.
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