Page 21 - Agriculture Economy

51.5% agri exports from just 5 products makes sector vulnerable: GTRI

India's agri export basket is dependent on just five commodities including rice and sugar and this makes the sector vulnerable to fluctuations in global prices and demand, a report by economic think tank GTRI said on Monday. The Global Trade Research Initiative (GTRI) said these five products -- basmati rice, non-basmati rice, sugar, spices, and oil meals -- account for 51.5 per cent of India's total agriculture exports. Furthermore, India grapples with various domestic challenges including infrastructural deficits, quality control issues, and non-tariff barriers, all of which impede the growth and competitiveness of its agricultural sector, it said. "This makes them (agri exports) vulnerable to fluctuations in global prices and demand," it said, adding these commodities also face frequent export bans in India. At present export of non-basmati rice is currently banned from India and India is also fighting at the WTO (World Trade Organisation) to protect subsidies to rice and wheat

India's agri exports may stay flat in FY24 due to ban on wheat, rice, sugar

India exported agricultural products worth $53 billion in the previous financial year

Govt monitoring rice situation in domestic, intl mkts on weekly basis

The government is closely monitoring the rice situation in the domestic as well as international markets on weekly basis and it can increase the percentage share in global rice trade when favourable conditions arise, Parliament was informed on Wednesday. India has banned export of broken and non-basmati white rice in view of uncertainty around rice production here and other rice producing countries due to geopolitical scenario, El Nino sentiments and extreme climatic conditions to check domestic prices and ensure adequate availability in the market here. "The government is closely monitoring the rice scenario in the domestic market as well as in international forum on weekly basis and the government can increase the percentage share in global rice trade when favourable conditions arise," Minister of State for Commerce and Industry Anupriya Patel said in a written reply to Lok Sabha. India was the largest rice exporting country in the world from 2018 to 2022 followed by Thailand and

Share of agriculture in India's GDP declined to 15% in FY23: Govt

Share of agriculture in India's GDP declined to 15 per cent last fiscal year from 35 per cent in 1990-91 due to rapid growth in the industrial and service sector, the government informed on Tuesday. "The share of agriculture in total Gross Value Added (GVA) of economy has declined from 35% in 1990-91 to 15% in 2022-23. The decline is brought out not by the decline in agricultural GVA but a rapid expansion in industrial and service sector GVA," Union Agriculture Minister Arjun Munda said in a written reply to Lok Sabha. "In growth terms, agriculture and allied sector has registered an average annual growth of 4 per cent during last five years. As far as global experience is concerned, share of agriculture in the world's GDP has also declined over the decades and stands at about 4 per cent in recent years," he added. The minister said the government has adopted/implemented several developmental programmes, schemes, reforms and policies towards increasing agricultural productivity, ...

India to allow diversion of up to 1.7 million tons of sugar for ethanol

"A quota will soon be allocated for sugar mills and distilleries," said a senior government official, who preferred not to be named, following official rules

Louis Dreyfus eyes deeper engagement with agritech startups: Sumeet Mittal

Inflation in 2023-24 and 2024-25 won't be as impactful as it was last year

Is MGNREGA work demand real sign of distress or problem lies elsewhere?

In FY23, around 87.5 million people worked under the scheme, according to the MGNREGA website. Till December 12 in FY24, approximately 72.6 million people had worked under the scheme

India exported 7.3 MT non-basmati, imported 1.9 MT pulses in Apr-Oct: Govt

India has exported 26.08 lakh tonnes of basmati rice and 73.18 lakh tonnes of non-basmati rice during the April-October period of this fiscal year. In a written reply to Lok Sabha, Agriculture Minister Arjun Munda shared export data of major foodgrains. As per the data, the exports of basmati rice stood at 45.61 lakh tonnes in the entire 2022-23 financial year while the shipments of non-basmati rice stood at 177.92 lakh tonnes. Exports of basmati rice stood at 44.15 lakh tonnes in 2018-19; 44.55 lakh tonnes in 2019-20; 46.30 lakh tonnes in 2020-21; and 39.44 lakh tonnes in 2021-22. The data showed that exports of rice (other than basmati) were at 76.48 lakh tonnes in 2018-19; 50.56 lakh tonnes in 2019-20; 131.49 lakh tonnes in 2020-21, and 172.89 lakh tonnes in 2021-22 fiscal. India's total rice production stood at 1,357.55 lakh tonnes in 2022-23 as against 1,294.71 lakh tonnes in the previous year. Rice output stood at 1,164.84 lakh tonnes in 2018-19; 1,188.70 lakh tonnes in 201

LIVE: New COP28 draft text does not mention phase out of fossil fuels

Catch all the latest news updates from across the world

Will ensure farmers don't face losses due to onion export ban: CM Shinde

Maharashtra Chief Minister Eknath Shinde on Monday said his government will find a way so that farmers do not suffer losses due to the ban on export of onions. Shinde visited his Shiv Sena party office in the Vidhan Bhavan premises in Nagpur ahead of the third day of the state legislature's winter session here. The Centre has banned onion exports till March 31, 2024, to increase domestic availability and keep prices in check. Speaking to reporters on the issue, Shinde said the state government always stands with farmers of the state. The CM said he had a telephonic conversation with Union Minister for Consumer Affairs, Food and Public Distribution Piyush Goyal on the onion issue. "We will find out a way so that farmers and customers do not face losses due to the ban on export of onions," Shinde said. On the issue of ban on the use of sugarcane juice and sugar syrup for ethanol production, the CM said the government representatives will meet Union Cooperation Minister Amit Shah ov

Govt extends export ban on de-oiled rice bran till March-end 2024

The government has extended the export ban on de-oiled rice bran, a major ingredient in preparation of cattle and poultry feed, till March 31 next year, according to a notification. It was first banned in July this year. "Export prohibition of de-oiled rice bran is extended till March 31, 2024," the directorate general of foreign trade has said in a notification. According to experts, rise of prices of the feed is one of the major reasons for increasing milk prices in the country and putting a ban on the exports can help increase availability of the product in the domestic market, thereby containing rates. However, Solvent Extractors Association of India had earlier asked the government to reconsider its decision on banning the exports as the move is likely to have minimal impact on the prices of cattle feed and milk. As per estimates, in cattle feed, about 25 per cent rice bran extraction is used.

Agri-commodities exports decline to 1.79 million tonnes in Sept: APEDA

Export of agri-commodities, including basmati rice, declined to 17.93 lakh tonnes in September this year compared to 27.94 lakh tonnes in the previous month, according to agri-export promotion body APEDA. Exports of agri-commodities in April and May were around 33 lakh tonnes each. However, shipments of farm items fell to nearly 18 lakh tonnes due to several restrictions on the export of various varieties of rice, including broken rice and non-basmati white rice. Export of agricultural items stood at 27.94 lakh tonnes in August of the 2023-24 fiscal, according to the data maintained by the Agricultural and Processed Food Products Export Development Authority (APEDA). In value terms, the export of farm items declined to Rs 14,153 crore during September from Rs 18,128 crore in August of this fiscal. Much of the exports in September were non-basmati exports which stood at 4.25 lakh tonne, basmati rice at 1.21 lakh tonne, fresh onions at 1.51 lakh tonne, and buffalo meat at 1,21,427 ..

Government approves 100% packaging of food grains in diversified jute bags

The reservation norms in present proposal would further protect the interest of domestic production of raw jute and jute packaging material in India

India's wheat stocks hit 7-year low as govt sells more to calm prices

Last year, the government banned exports after output was curtailed due to a heat wave and overseas sales picked up as Russia's invasion of Ukraine sent global prices to multi-year highs

Rajasthan set to produce more cumin this year amid spike in demand

Cumin traders said that after a decrease in sowing in the last two years, sowing this year is expected to increase to the level of 2021

India to provide $250 mn LoC to Kenya for modernisation of its agri sector

Prime Minister Narendra Modi on Tuesday announced India's decision to provide USD 250 million to Kenya for modernisation of its agriculture sector following his wide-ranging talks with visiting Kenyan President William Samoei Ruto. Ruto arrived here on Monday on a three-day visit with an aim to expand overall ties between the two countries. In its foreign policy, India has always given high priority to Africa and has expanded its overall ties with the continent on a mission mode in the last nearly one decade, Modi said in his media statement after the talks. "I am confident that President Ruto's visit to India will not only strengthen bilateral ties but will give a new momentum to our engagement with Africa," he added. The prime minister said India will provide USD 250 million as Line of Credit to Kenya for modernisation of its agriculture sector. Referring to the Indo-Pacific, Modi said closer cooperation between India and Kenya in the region will advance common efforts. India

Punjab CM Mann hikes sugarcane price by Rs 11 per quintal to Rs 391

Punjab Chief Minister Bhagwant Mann on Friday announced a hike of Rs 11 per quintal in sugarcane price, saying the new rate of Rs 391 a quintal is the highest in the country. The announcement came days after the chief minister assured farmers of "good news" in the coming days. "With an increase of Rs 11, the new rate will be Rs 391 per quintal, which will be the highest in the country," Mann said in a post on social media platform X. Earlier, farmers held protests demanding an increase in sugarcane price from Rs 380 per quintal to Rs 450 per quintal. On Friday last week, farmers held a demonstration on a national highway in Jalandhar but decided to end their stir after Mann's assurance. "As far as increasing the rate of sugarcane goes, Punjab has always been ahead," Mann had said last week. Protestors under the banner of Samyukt Kisan Morcha had blocked the Jalandhar-Phagwara section of the Jalandhar-New Delhi National Highway near Dhanowali village. The strike ended on the four

No new issue agri issue in WTO till solution on public stockholding: India

India has told a WTO grouping with a major interest in farm trade that it will not discuss any new issue in the agriculture segment like imposition of export restrictions before a permanent solution is found with regard to public stockholding of food grains, an official said. This position was cleared during a mini-ministerial virtual meeting of about 28 WTO (World Trade Organisation) member countries on agriculture issues on November 28. In the meeting, Commerce and Industry Minister Piyush Goyal put forward New Delhi's approach to the issue saying that public procurement and stockholding of food grains serve the twin objectives of food security and income support to marginal farmers. The 19-member Cairns group, which includes agri-exporting nations, lobbies for agricultural trade liberalisation. It was formed in 1986 in Cairns, Australia. Its members include Argentina, Australia, Brazil, Canada, Chile, Colombia, Costa Rica, Guatemala, Indonesia, Malaysia, New Zealand, Pakistan, ..

Sugarcane crushing in full swing across country, says sugar trade body

The sugarcane crushing operation in the 2023-23 season is in full swing post-Diwali across the country, trade body AISTA said on Tuesday. Sugar season runs from October to September. "The crushing operation is in full swing across the country now. All sugar factories have started the crushing," All India Sugar Trade Association (AISTA) chairman Praful Vithalani told PTI. Some mills had begun the crushing operation during mid-October. However, it picked up post-Diwali, he said. There are about more than 700 installed sugar factories in the country with crushing capacity of about 340 lakh tonnes of sugar, as per the official data. The country's total sugarcane production is estimated to be higher at 434.79 million tonnes in the 2023-24 crop year (July-June), as against 422.25 million tonnes in the previous year, as per the first estimate released by the agriculture ministry. There was an opening stock of sugar at 5.7 million tonnes as of October 1 in view of slight decline in the .

Not missing either the woods or the trees

Vast untapped potential must be gainfully harnessed to achieve environmental goals and derive potential economic benefits from agro-forestry