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Soybean meal exports increases during February

KOLKATA: The export of soybean meal and its other value added products during February 2017 is pegged at 2,07,977 tonnes compared to 29,951 tonnes in February 2016 showing an increase of 594.40 per cent over the same period of last year, according to a release issued by Soybean Processors Association of India (SOPA) on Monday.   On a financial year basis, the export during April’2016 to February’2017 is 8,09,271 tonnes as compared to 3,60,652 tonnes in the same period of previous year showing an increase of 124.39 per cent.   During current oil year (October – September), total exports during October 2016 to...

Last Updated: Monday, 6th March, 2017 10:32 AM Visits 83

Cotton output for 2016-17 expected at 341 lakh bales

MUMBAI: The cotton output is estimated at 341 lakh bales for 2016-17, an industry association said in its January projection.  Cotton production stood at 337.75 lakh bales last year, Cotton Association Of India (CAI) said in a release here.  The CAI, however, increased cotton consumption for the ongoing crop year to 295 lakh bales against its previous estimate of 290 lakh bales.  The projected balance sheet drawn by the CAI estimated total cotton supply for the cotton season 2016-17 to be at 405 lakh bales.  Considering the domestic consumption of 295 lakh bales, total available surplus for the season works out at 110 lakh bales.  CAI said the pace of arrivals...

Last Updated: Monday, 20th February, 2017 03:41 PM Visits 371

India's wheat imports to slow after March on fumigation rule change

NEW DELHI: India's wheat imports from Russia, France and Ukraine could come to a halt after March, as New Delhi has asked exporters to fumigate their cargoes with methyl bromide, an insect control gas banned in Europe and the Black Sea region.  Currently, food shipments are fumigated at India's ports. After March 31, the plant quarantine authority will only accept cargoes fumigated with methyl bromide at the country of export.  The decision is aimed at curbing wheat imports to help local farmers, who will harvest the new-season crop from next month.  "Since the government does not apprehend any shortage, the idea is to limit imports...

Last Updated: Monday, 20th February, 2017 03:40 PM Visits 137

India will be self-sufficient in pulses in next few years: Radha Mohan Singh

NEW DELHI: Rural India will gain from strong growth in horticulture, poultry, dairies and fisheries, in addition to bumper farm production that is estimated to hit a new record this crop year, agriculture minister Radha Mohan Singh said.  The government’s focus on making India self-sufficient in food grains will ensure that the country does not import pulses in the years ahead, Singh told ET on Thursday, a day after his ministry forecast major crop output to reach nearly 272 million tonnes in the year through June 2017. The estimated production is 2.6% more than the current record, achieved in 2013-14.  “Due to the concerted efforts of scientists to get early-maturing varieties of...

Last Updated: Friday, 17th February, 2017 03:38 PM Visits 124

Government sees record foodgrain output at 271.98 mt for 2016-17

NEW DELHI: The government has forecast a robust 8% growth in farm output this year after bountiful monsoon rains, raising prospects of stronger rural demand for consumer goods, automobiles and gold, and strong economic growth. The strong growth comes after a drought ravaged the fields for two years and heightened rural distress, but the expected output betters the record production of 2013-14 by 2.6%.  “Higher food grain production is good news for economy especially rural. This should help stabilise prices," said Ashok Gulati, agricultural economist and former chairman of the Commission for Agricultural Costs and Prices.  However, he said it was important...

Last Updated: Thursday, 16th February, 2017 03:39 PM Visits 124

'Note ban has caused Rs 20,000-50,000 per acre loss to farmers'

NEW DELHI: India's cash-driven agri sector continues to reel under the effects of demonetisation, with farmers growing fruits and vegetables suffering "huge losses", say farm leaders who want the Union budget to "compensate" them for these losses.  Amid reports of farmers dumping or refusing to harvest crops like tomatoes and peas due to a crash in prices as traders did not have the cash to purchase the produce, farmer leader Ajay Vir Jakhar said, "Farmers growing perishables like fruits and vegetables have suffered losses of Rs 20,000 to Rs 50,000 per acre on an average.  "The loss is huge," Jakhar, Chairman of Bharat Krishak Samaj (Farmers' Forum,...

Last Updated: Sunday, 22nd January, 2017 02:22 PM Visits 252

Tamil Nadu seeks Rs 39,565 crore from Centre to tackle drought

CHENNAI: Drought-hit Tamil Nadu today urged the Centre to sanction Rs 39,565 crore from the National Disaster Response Fund towards mitigation measures, with Chief Minister O Panneerselvam seeking Rs 1,000 crore urgently as the state government does not have sufficient funds to meet the challenge.  Panneerselvam also urged Prime Minister Narendra Modi to depute a Central team "to study the extensive damage caused to agriculture crops and to take stock of the drinking water scarcity in the state".  A detailed memorandum on the drought situation in the state, besides a letter from Panneerselvam to the Prime Minister, was handed over at the PMO in New Delhi by Relief...

Last Updated: Monday, 16th January, 2017 02:25 PM Visits 159

India imports 2.7 million tonnes wheat so far this fiscal

NEW DELHI: Indian importers have purchased 2.7 million tonnes of wheat from Australia, France and Ukraine so far this fiscal and additional 1.2 million tonnes of grain is expected to arrive by the end of next month.  However, traders have not signed any import deals for wheat delivery beyond March as they are sceptical that the government may reimpose customs duty on the grain when the harvesting of the new crop starts from April 2017.  Last month, the government had brought down wheat import duty to zero from 10 per cent to boost domestic availability and check price rise.  "About 2.7 million tonnes of wheat has been imported so far in 2016-17...

Last Updated: Monday, 16th January, 2017 02:23 PM Visits 180