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Mustard seed futures gain on spot cues

New Delhi, Nov 8 Mustard seed prices advanced by Rs 40 to Rs 3,996 per quintal in futures trading today in line with upbeat sentiments at spot markets. Mustard prices rose at spot markets on strong demand from oil mills amid tight supplies from producing belts. At the National Commodity and Derivative Exchange, mustard seed to be delivered in December month spurted by Rs 40 or 1.01 per cent to Rs 3,996 per quintal, having an open interest of 35,710 lots. Mustard seed for delivery in current month contracts, hardened by Rs 36 or 0.92 per cent to Rs 3,966 per quintal, showing...

Last Updated: Wednesday, 8th November, 2017 05:57 PM Visits 13

India to be self-sufficient in pulses in 2 years: Radha Mohan Singh

NEW DELHI: India will not need to import pulses in the next two years and the country will be self sufficient to meet domestic demand, Agriculture Minister Radha Mohan Singh today said. The production of pulses stood at record 22.95 million tonnes in the 2016-17 crop year (July-June) as against 16.35 million tonnes in the previous year. The country imported about 5 million tonnes of pulses last fiscal. With bumper output and low domestic price, the government has recently restricted import of some varieties of pulses, which will lead to reduction in imports this fiscal. "Pulses production increased by about 6.5 million tonnes last year....

Last Updated: Friday, 27th October, 2017 05:49 PM Visits 13

Centre hikes MSP of wheat, pulses, mustard

The central government on Tuesday increased the Minimum Support Price (MSP) for Rabi crops for 2017-18 to encourage farmers to bring a major area under their cultivation.  The Cabinet Committee on Economic Affairs(CCEA), chaired by Prime Minister Narendra Modi, approved the revised MSPs of some of the winter sown (rabi) crops -- Rs 110 for wheat, Rs 400 for pulses and Rs 300 for mustard, informed sources told IANS.  MSP is a form of market intervention by the government to insure farmers against any sharp fall in farm prices and thus ensure adequate foodgrains production in the country.  In a series of tweets, Union Agriculture Minister...

Last Updated: Tuesday, 24th October, 2017 05:46 PM Visits 17

Govt to bring 12 lakh ha land under micro-irrigation

The Centre is working towards bringing 12 lakh hectares of land under micro-irrigation in the current fiscal, Agriculture Minister Radha Mohan Singh said today. Addressing the valedictory session of the fifth five-day India Water Week here, he said it was something which hadn't been achieved in the post-Independence era. Minister of Water Resources Arjun Ram Meghwal also attended the event, besides senior officials from the ministry. "We could micro-irrigate 8 lakh hectares of area in 2016 -17. This was something which did not happen in the earlier years," Singh said. "Now, we intend to bring additional 12 lakh hectares area under micro-irrigation in the current fiscal. That is, it will...

Last Updated: Saturday, 14th October, 2017 12:04 PM Visits 40

Govt to step in if cotton price falls below MSP

As India is looking at a bumper cotton crop, government agencies are all prepared to enter the market in case prices fall below minimum support levels. Traders, however, said they expect prices to remain above MSPtill December, except in Telangana.  The Cotton Association of India is due to release its crop study report with output estimates in two weeks. The industry expects India's cotton production in 2017-18 to be 375 lakh bales. The International Cotton Advisory Committee (ICAC) has projected global cotton production to rise 10 per cent this fiscal to 25.4 million tonnes.  Private procurement currently on in Telangana is below minimum support price. Traders said prices are low because the crop has...

Last Updated: Monday, 9th October, 2017 12:03 PM Visits 49

Spinners face challenging times; improved cotton crop to provide some succour: ICRA

India’s spinning sector has been witnessing challenges on multiple fronts over the past few quarters. As per a recent report by ICRABSE -1.25 %, while exports continue to fall due to weak demand from one of the key markets, China; domestic demand also slowed down in the first quarter of FY2018 amid focus on inventory clearance prior to GSTimplementation, which affected offtake and hence production volumes. Q1 FY2018 was the fourth consecutive quarter wherein companies in ICRA’s sample reported a Y-o-Y decline in volumes.  Besides the demand-side pressures, the challenges have been further accentuated by consistently firm cotton fibre prices resulting in subdued contribution margins,...

Last Updated: Thursday, 28th September, 2017 12:02 PM Visits 41

Pacific Seeds' new treatment plant unveiled

Pacific Seeds launches new seed treatment plant. Enjoying the launch are (from left) Advanta Seeds Australia MD Nick Gardner, UPL CEO Jai Shroff, Advanta Seeds CEO Bhupen Dubey and Federal Member for Groom, John McVeigh.Contributed BUOYED by the continued growth of the agricultural industry, Pacific Seeds has invested hundreds of thousands of dollars in a new seed treatment plant, which was unveiled today at its Toowoomba headquarters. The plant, which will provide better handling of the seed, improved accuracy in chemical application, a safer working environment and energy savings, was officially unveiled by  Member for Groom John McVeigh.  The Australian-built machine replaces a...

Last Updated: Monday, 25th September, 2017 05:09 PM Visits 119

Foodgrain output may drop 2.5% in Kharif season this year

NEW DELHI: India's foodgrain production may decline by 3.5 million tonnes to around 135 MT in the current kharif season due to floods and dry spell in some parts of the country, official sources said.  The country had produced a record 138.52 MT in the kharif season of 2016-17 crop year (July-June) on good monsoon rains.  According to the sources, the overall production of Kharif foodgrains (comprising rice, pulses and coarse cereals) is likely to be around 135 MT in the current season. Sowing for Kharif crops begins around July and harvesting takes place from October.  The fall is mainly due to less acreage under paddy and pulses in the wake...

Last Updated: Thursday, 21st September, 2017 05:15 PM Visits 80