Page 24 - Agriculture Economy

Cotton output estimated to be lowest in 15 years at 29.51 mn bales: CAI

The country's cotton production is estimated at 29.51 million bales in the 2023-24 marketing season, the lowest in 15 years on less planting amid the El Nino effect, the Cotton Association of India (CAI) said on Tuesday. The cotton marketing season runs from October to September. One bale of cotton is 170 kg. Cotton production is lower by 7.49 per cent from 31.89 million bales in the 2022-23 marketing season. It is also lower than the government estimate of 31.65 million bales for 2023-24. Releasing the first estimate, the CAI said, "After 2008-09, this is the lowest Indian cotton crop." Total area sown to cotton is lower by 5.5 per cent and yield is also expected to drop by up to 20 per cent due to unfavourable weather caused by El Nino, it said. The CAI has projected cotton production at 8.5 million bales in Gujarat, 7.6 million bales in Maharashtra, 3 million bales in Telangana,1.85 million bales in Karnataka, 1.8 million bales in Madhya Pradesh, and 1.6 million bales in Haryan

Wheat acreage jumps in initial sowing on good weather and firm price

According to the latest preliminary data by the Union ministry of agriculture, wheat has been sown in around 0.38 million hectares till October 27

'Pvt sector can provide advisory services, tech to support agri sector'

NITI Aayog member Ramesh Chand on Thursday emphasised on the importance of partnership between the private and public sectors for long-term agricultural growth. Addressing an event organised by industry body Assocham, Chand further stressed on the need for coming up with new ways to boost agricultural output and recognising the wide range of agricultural practices across the country. "Private sector can play a critical role in precision farming In India. It can provide advisory services, agrochemicals, and suitable technology to support agricultural development," he said. He also highlighted the growth seen in India's agricultural industry, notably in livestock and fisheries, with an annual increase of roughly 2.75 per cent. The NITI Aayog member elaborated on the complex interaction between agriculture and climate change. "The real challenge lies in increasing productivity. To do so, we must address concerns of cost, technological progress, and resource efficiency," he said. Cha

Punjab govt to constitute industrial advisory commissions for 26 sectors

The Punjab government has recently issued a notification for constituting industrial advisory commissions for 26 sectors aimed at promoting holistic business development in the state. According to the notification, each advisory commission will be headed by a renowned person from the relevant industrial sector who will hold a rank equivalent to that of a cabinet minister. The commission will have industry representatives who will be nominated by the government, it said. The advisory commission is meant for several sectors, including textile, machine tools, sports goods, agri and food processing, rice milling and processing, bicycle and bicycle components, agriculture machinery and equipment, pharmaceuticals, alloys and steel, auto and auto components, and electronics. Information technology, paper and paper-based packaging units, plywood and wood products, hotels and hospitality, plastics and chemical products, logistics, construction materials, retail and service industries, ...

Nano urea will help farmers switch to natural farming, says Amit Shah

The nano urea and nano DAP introduced by IFFCO will help farmers adopt natural farming without compromising on production, Union cooperation minister Amit Shah on Tuesday said. He was speaking after inaugurating a nano DAP (diammonium phosphate liquid ) manufacturing plant at the Indian Farmers Fertilizer Cooperative Limited's (IFFCO) unit at Kalol in the district. It is the world's first such plant, IFFCO said in a statement. "When a list of the biggest experiments in the field of agriculture will be prepared ten years from now, I can say with certainty that IFFCO's nano urea and nano DAP will find a place in it," he said. The need of the hour was to reduce the use of urea and move towards natural farming, the Union minister added. "If you want to move towards natural farming without reducing the production for three years (period needed to prepare the soil for such farming), then use nano urea and nano DAP," Shah said. Nano urea does not percolate into the ground, and hence it

Govt likely to set aside Rs 30,000 crore for PM Fasal Bima Yojna expansion

The govt plans to go beyond crop insurance to include assets such as ponds, tractors, livestock, and palm trees

NCCF should change biz approach to achieve Rs 50,000 cr turnover: Shah

Cooperation Minister Amit Shah on Friday directed National Cooperative Consumers' Federation (NCCF) to change its business approach to achieve a turnover of Rs 50,000 crore by 2027-28. Shah, addressing the Board of Directors of NCCF here, said the NCCF should prepare a roadmap for the next 10 years to become a self-reliant cooperative institution. "He said the Ministry of Cooperation will provide its full support to NCCF in implementing such a roadmap," an official statement said. The minister said the NCCF should emphasise on making Primary Agricultural Credit Societies (PACS) and other cooperative institutions across the country its members so as to ensure that the proportion of cooperatives in the share of capital of NCCF is relatively higher. "For this purpose, NCCF will have to develop its business plan and change its business approach... NCCF should... achieve a turnover of Rs 50,000 crore by 2027-28," Shah said. The minister also laid special emphasis on ensuring procuremen

Centre hikes wheat MSP by 7% ahead of polls, highest increase since 2014

Wheat is a primary rabi crop in Madhya Pradesh and Rajasthan, which are slated to go to the polls in the upcoming weeks. Here, the BJP and the Congress are locked in a close battle

Govt hikes wheat MSP by Rs 150 per quintal to Rs 2,275 for 2024-25

Ahead of assembly polls in key wheat growing states, the government on Wednesday announced an increase in the minimum support price (MSP) of wheat by Rs 150 to Rs 2,275 per quintal for the 2024-25 marketing season. This is the highest increase by the Narendra Modi-led government since it came to power in 2014. A decision in this regard was taken in the meeting of the Cabinet Committee on Economic Affairs (CCEA) chaired by Prime Minister Modi. Currently, the MSP on wheat stands at Rs 2,125 per quintal for the 2023-24 marketing season (April-March). Briefing media, I&B minister Anurag Thakur said the CCEA has approved the increase in the MSP for all mandated rabi crops for 2024-25 marketing season. "Based on the CACP recommendation, we have increased the MSP of six rabi crops. Wheat MSP has been increased by Rs 150 per quintal," he said. The support price of wheat has been increased to Rs 2,275 per cent quintal for 2024-25 marketing season, from Rs 2,125 per quintal in 2023-24, he

India allows export of over 1 mn tonnes of non-basmati rice to 7 countries

The government on Wednesday said it has permitted exports of 10,34,800 tonnes of non-basmati white rice to seven countries, including Nepal, Cameroon and Malaysia. The export is permitted through National Cooperative Exports Limited (NCEL), the Directorate General of Foreign Trade (DGFT) said in a notification. Though exports of non-basmati white rice were banned on July 20 to boost domestic supply, exports are allowed on the basis of permission granted by the government to certain countries to meet their food security needs and on request. "Export of non-basmati white rice... to Nepal, Cameroon, Cote D' Ivore, Guinea, Malaysia, Philippines, and Seychelles is notified," it said. The quantity notified for Nepal is 95,000 tonnes, Cameroon (1,90,000 tonnes), Cote D' Ivore (1,42,000 tonnes), Guinea (1,42,000 tonnes), Malaysia (1,70,000 tonnes), Philippines (2,95,000 tonnes), and Seychelles (800 tonnes).

HPMC procures 32454 MT apples under MIS: State horticulture minister

The Himachal Pradesh Horticultural Produce Marketing and Processing Corporation (HPMC) has procured 32,454 metric tonnes (MT) of apples so far under the Market Intervention Scheme 2023, state horticulture minister Jagat Singh Negi said on Tuesday. Despite the catastrophic rains in the state, HPMC has managed to lift the entire quantity of apples procured under the Scheme, he said. The HPMC has produced a record 1,288 MT Apple Juice Concentrate at its three fruit processing plants at Parala, Parwanoo and Jarol (Mandi) during the current apple season, he said in a statement issued here. Presiding over a meeting of the HPMC board of directors here, the minister formally launched the new web portal of HPMC Ltd. All services of HPMC, such as booking of controlled atmosphere/cold stores, Market Intervention Scheme (MIS) and the sale of horticulture inputs have been made online through the web portal. He said the trial and commissioning of the newly established HPMC fruit processing plan

Indian wheat prices at 8-month high on festival demand, tight supply

Wheat prices in New Delhi jumped by 1.6% on Tuesday to 27,390 rupees ($329) per metric ton, the highest since Feb. 10. Prices have surged by nearly 22% over the past six months

Best of BS Opinion: Olympian ideals, land leasing needs a sound law & more

Here is the best of Business Standard's opinion pieces for today

Land leasing needs a sound law

The concept of imposing limits on land ownership and acquiring surplus land for allocation to landless people, in fact, seldom served its intended objective of equitable distribution of farmland

40 new schemes will revolutionize cooperative sector in HP: Ministry

Aiming to revolutionize the cooperative sector of the state, about 40 new schemes have been initiated in collaboration with the Union Ministry of Cooperation, an official said on Saturday. The Department of Cooperation has commissioned various new initiatives for Primary Agriculture Credit Societies (PACS) of the state, Secretary (Cooperation) C Palrasu said. The major initiatives include PACS as Jan Aushadhi Kendras, wherein generic medicines will be made available to the rural population at cheap rates. Almost 50 PACS have applied to get Jan Aushadhi Kendra in the state. In PACS as a common service centre scheme, the societies will function as Lok Mitra kendras, that will help the rural population in getting various kinds of certificates timely and cheaply at their doorstep. More than 80 societies are now functioning as common service centres in the state, a statement issued here said. Recently LPG and petrol pump retail licences have also been opened for PACS, he said and added

SC defers GM mustard hearing to Nov 21; experts say trials may be delayed

The ideal time to sown mustard hybrid for North India is Nov first week

Govt bans use of controversial pesticide monocrotophus ahead of SC hearing

Ahead of a pivotal SC hearing, the Central govt has banned four insecticides from a list of 27, triggering mixed reactions

Govt implements minimum price for raw jute following bumper production

The government on Thursday fixed the minimum price for jute following reports that farmers are facing losses due to bumper crop of the golden fibre. In a notification, the Jute Commissioner said the minimum price has been fixed at Rs 5,050 per quintal at the farm level and Rs 5,500 per quintal for deliveries in Kolkata. The move was appreciated as average raw jute prices of the most traded variety TD5 had slumped to as low as Rs 4,100 on Wednesday, market sources said. Jute Commissioner Moloy Chandra Chakraborty said that the minimum price of jute in all forms will be in force till October 31 or until further orders for any trade in raw jute. "No buyer or seller shall be entitled to transact at rates other than those specified in this order," he said. Jute farmers recently demonstrated in Nadia, Murshidabad, Uttar Dinajpur, North 24-Parganas, and Hooghly districts demanding better prices and a rise in the MSP for their produce. They had blocked roads and set jute bales on fire. S

IZA calls for integration of micronutrients in Indian agriculture industry

With India's consumption of micro-nutrients in the agriculture sector remaining below the global average, the International Zinc Association (IZA) on Thursday called for the integration of micro-nutrients in agri-practices to produce nutrition-rich crops. Recently, there has been a shift in Indian consumer preferences towards healthier food options that can aid in maintaining and improving health. This has resulted in a surge in demand for high-value crops, thus driving the need for micro-nutrients in the Indian agriculture industry, it said. "India's journey towards optimal health and well-being hinges on the pervasive integration of micro-nutrients into our diets, healthcare, and agriculture practices," IZA South Asia Director Sourmitra Das said. He was addressing a two-day global micro-nutrient summit organised by IZA in association with the Fertiliser Association of India (FAI) here in the national capital. Highlighting the pressing challenge of micro-nutrient deficiencies ...

Bihar govt promoting cultivation of aromatic, medicinal plants: Minister

To encourage farmers to diversify from traditional paddy cultivation to commercially viable farming, the Bihar government has come out with several incentives and subsidies for planting aromatic and medicinal plants in the state. The state agriculture department has come out with several incentives for farmers to promote cultivation of 'lemongrass', 'palmarosa', 'shatavari', 'tulsi', mulberry', 'khas', 'gooseberry', 'bael', 'tamarind', 'jackfruit', and lemon plants. Bihar Agriculture Minister Kumar Sarvjeet told PTI on Saturday that, "The government is coming out with several incentives and subsidies to farmers to help cultivate aromatic and medicinal plants in the state. The growing health awareness has created a lot of opportunities for innovation in the agriculture sector and the government is helping farmers to exploit this opportunity. This is the time Bihar farmers must opt from traditional paddy cultivation to commercially viable farming". This scheme will be implemented main