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Farmers to partially benefit from MSP fixed at 1.5x of production cost: India Ratings & Research

The current problem faced by farmers is essentially an agricultural distress and not a generalised rural distress, and farmers’ distress is essentially emanating from shrinking agricultural margins, says India Ratings and Research (Ind-Ra).  Shrinking Agricultural Margins: Ind-Ra analysed the data for three periods: FY04-FY08, FY09-FY13 and FY14-FY18. In the analysis, agricultural gross value added/growth in minimum support price (MSP) of rice and wheat has been considered a proxy for an increase in output prices, while growth in agricultural wages has been considered a proxy for an increase in input prices. While FY04-FY08 is characterised by low wage growth and relatively high agricultural output/MSP growth translating into...

Last Updated: Wednesday, 11th July, 2018 11:26 AM Visits 26

Foodgrain output may surpass last year's level: Shobhana Pattanayak, Agriculture Secretary

India's foodgrain output could exceed last year's record of 279.51 million tonne (MT) buoyed by favourable monsoon, higher MSP and likely increase in crop productivity, an official said.  Agriculture Secretary Shobhana Pattanayak exuded confidence that sowing, which is lagging behind so far, will pick up in the coming weeks with wide coverage of rainfall in all growing states.  Moreover, farmers will now be enthused to bring more acreage on the back of sharp increase in the minimum support price (MSP) for all 14 kharif crops announced last week.  The sowing area of kharif crops like paddy is currently lower than the last year because of deficit rains...

Last Updated: Sunday, 8th July, 2018 11:28 AM Visits 25

Kharif crop new minimum support price hike to cost centre ₹33,500cr more

Moving to fulfil its budget promise and address political heat over farmer discontent, the government is set to announce a new minimum support price (MSP) regime that will provide farmers a profit margin of 50% over cost of production. The additional bill is likely to be around Rs 33,500 crore.  The new MSP, to be considered by the cabinet on Wednesday, will largely apply to paddy and pulses but will benefit ‘nutri-cereals’ like millets the most. The added cost of MSP is 0.2% of GDP, according to the cabinet note. The share of paddy in the additional outgo will be around Rs 12,300 crore.  Moving...

Last Updated: Wednesday, 4th July, 2018 11:29 AM Visits 33

22,000 rural agriculture markets to be linked by 2020: Agri Minister

Union Minister of State for Agriculture Gajendra Singh Shekhawat on Friday said 22,000 rural agriculture markets will be linked to make a national agricultural market by 2020.  "We will upgrade existing 22,000 rural 'haats' into Gramin Agricultural Markets. These will be connected with e-National Agriculture Market (e-NAM) to provide farmers facility to make direct sale to potential buyers," said Shekhawat at AgriVikas 2018 here.  He said all 585 e-mandis have been connected under the agricultural market reforms.  The minister also said entrepreurship has to be developed in the agriculture sector and added India has the potential to meet the demand of food industry in the...

Last Updated: Friday, 29th June, 2018 11:30 AM Visits 35

Farmers’ strike fails to hit vegetable prices

NEW DELHI | CHANDIGARH | PUNE: The ongoing 10-day farmer strike called by the Rashtriya Kisan Mahasangh has so far made no major impact on the market, although traders said they are watching the situation closely. Supplies and prices of fruits and vegetables remained stable in most places, including the big cities of Delhi and Mumbai, with the impact of the agitation remaining limited to isolated pockets like parts of Punjab and Maharashtra.  Meanwhile, the Bhartiya Kisan Union(Rajewal), a farmers’ organisation from Punjab, announced that it would stay off the strike from June 6, indicating differences within the Mahasangh, an umbrella body of more than...

Last Updated: Tuesday, 5th June, 2018 04:30 PM Visits 57

Wheat procurement surpasses government's target by 6.25% to over 34 million tonnes

NEW DELHI: Wheat procurement has crossed the government's target by 6.25 per cent to 34.08 million tonnes (MT) so far in this marketing year as purchases in Uttar Pradeshhave picked following special efforts by the state authorities.  Food Corporation of India (FCI) and other state agencies had procured 29.37 MT in the same period of the 2017-18 marketing year (April-March). Total wheat procurement stood at 30.82 MT in 2017-18.  The government fixed higher target of 32 MT for this year in view of record output.  According to official data, of the 34.08 MT procured so far this year, 21.45 MT has been purchased from two states Punjab and Haryana. Buying in...

Last Updated: Monday, 28th May, 2018 04:26 PM Visits 52

Cotton exports could hit 4-year high on price rally, weak rupee

MUMBAI: India's 2017/18 cotton exports are likely to jump nearly 30 percent from the year before to a four-year high of 7.5 million bales, as climbing global prices and a weaker rupeeboost overseas demand, the head of an industry body told Reuters.  Increased supply from India could drag on a rally in international prices for the commodity and would likely compete with shipments to Asia from exporters like the United States, Brazil and Australia.  "We can end the season with exports of 7.5 million bales," said Atul Ganatra, president of the Cotton Association of India (CAI), adding that higher international prices would drive up shipments.  The country has...

Last Updated: Friday, 25th May, 2018 04:28 PM Visits 68

Maharashtra farmers say they’ll use GM seeds

PUNE: Even as the country debates the use of genetic modification technology, some cotton farmers in Maharashtra have decided to defy government directives against the use of illegally propagated herbicide-resistant cotton varieties and other GM crops like brinjal and mustard. They have called their protest an ‘Agitation for Freedom to use Technology’.  India has not allowed cultivation of Herbicide Tolerant (HT) BT cotton variety, which helps farmers save the cost on employing manual labour for removing weeds. HTBT cotton plant is resistant to herbicide sprays, which then kill only the weeds.  The Central Institute of Cotton Research (CICR), Nagpur had confirmed presence...

Last Updated: Thursday, 24th May, 2018 04:29 PM Visits 68