Page 27 - Agriculture Economy

Companies feel the heat of an unusual summer; demand drops for coal, ACs

Unseasonal rain, high number of heatwave days upend business cycle of several sectors

India's new initiatives for sustainable fertiliser mgmt

These initiatives aim to structurally transform Indian agriculture through the synergy of various efforts of policy intervention, investment, financial support, technological intervention

Weak demand, inventory to weigh on agrochemical companies' stocks

Street remains cautious about the sector due to lower price realisations and fears about El Nino's impact on the monsoon

Govt revises crop residue management guidelines

The government on Saturday said it has revised the crop residue management guidelines, thus enabling efficient ex-situ management of paddy straw generated in Punjab, Haryana, Uttar Pradesh and Delhi. As per the revised guidelines, techno-commercial pilot projects for paddy straw supply chain will be established under the bilateral agreement between the beneficiary/aggregator and industries utilising the paddy straw, the agriculture ministry said in a statement. The beneficiary or aggregator can be farmers, rural entrepreneurs, cooperative societies of farmers, Farmer Producer Organisations (FPOs), and panchayats, it said. According to the ministry, the move will supplement the efforts of paddy straw management through in-situ options. During the three-year tenure of the interventions, 1.5 million tonne of surplus paddy straw are expected to be collected which would otherwise have been burnt in fields. About 333 biomass collection depots of capacity 4,500 tonne will be built in Pun

Tomato prices soar across country due to supply dip, cost Rs 80-100 per kg

Tomato prices have also skyrocketed in the southern state of Karnataka and its capital city Bengaluru as incessant rains have damaged the crop and made transportation difficult

Studying market to adequately compensate sunflower growers: Haryana CM

"I would like to clarify that despite challenges, the Centre or the state government is taking pro-farmer policies," the minister said

Gunny bag shortage hits crop procurement, says Rajasthan minister

The minister said mustard and gram were being procured from April 1 on support price in the state. Till June 6, 347,000 tonnes of gram and mustard have been procured from over 140,000 farmers

MoS Agri pitches for adoption of new farm tech for achieving $5 trn economy

Minister of State for Agriculture Kailash Choudhary on Friday said mass adoption of new technologies like drones, artificial intelligence (AI) and precision farming in the agriculture sector is essential for India to achieve USD 5 trillion economy milestone. "... we need to leverage new technologies, such as drones, AI, precision farming, blockchain in farming to achieve Prime Minister Narendra Modi's near future target of USD 5 trillion economy," the minister said while addressing an event organised by agro-chemical firm Dhanuka Group. Choudhary also urged scientists to identify untapped areas, such as rain-fed districts to increase agriculture production substantially by empowering farmers with new agri technologies. The potential of most of the agri-land in the country has been exhausted, only the area dependant on rains is left whose potential needs to be tapped, he said in a statement. Making a strong pitch for genetically modified (GM) crops, Deepak Pental, former Vice ...

Dung a cash cow, more valuable than cattle fodder, says NSO report

Except for a slight decline between FY17 and FY18, the output value of livestock dung experienced consistent growth in 10 years

El Nino unlikely to dampen tractor industry volumes in a big way

Likely El Niño may water down sentiment but industry does not see huge downside in sales in FY24

Acreage of summer crops down slightly; area under rice, oilseeds falls

The area under coverage for summer crops is marginally down so far at 65.29 lakh hectares, according to the agriculture ministry data. The sowing area under rice and oilseeds is less, while the acreage of pulses and coarse cereals is higher, the data showed. The ministry on Monday released the progress of area coverage under summer crops as of April 28, 2023. As per the data, the area under coverage for rice stood at 27.45 lakh hectares so far against 29.14 lakh hectares in the year-ago period. Pulses acreage rose to 17.57 lakh hectare from 16.23 lakh hectares, while sowing area of coarse cereals increased to 10.86 lakh hectares from 10.19 lakh hectares. In the non-foodgrains category, oilseeds acreage is down at 9.40 lakh hectares till April 28 from 10.46 lakh hectares in the year-ago period. Overall, the total area under summer crops till April 28 stood at 65.29 lakh hectares, marginally down from 66.02 lakh hectares a year ago. The growing season for zaid/summer crops is shor

FY24 MGNREGS budget might last just a few months if enough work provided

During below-normal monsoon years, MGNREGS acts as a cushion for rural labourers who find it difficult to get work in the fields and farms

India needs to be vigilant against low agri output, elevated prices: FinMin

Sounding a note of caution, the finance ministry's monthly economic review on Tuesday said India needs to be vigilant against potential risks of lower agriculture output, elevated prices and geopolitical developments. Although the 6.5 per cent growth projection for the current fiscal is in line with the estimates of the World Bank and the Asian Development Bank (ADB), there are factors which could affect the favourable combination of growth and inflation outcomes currently estimated, said the March edition of the Finance Ministry's Monthly Economic Review. "It is important... to be vigilant against potential risks such as El Nino conditions creating drought conditions and lowering agricultural output and elevating prices, geopolitical developments and global financial stability," the review said. All these three could affect the favourable combination of growth and inflation outcomes currently anticipated, it said. The report said FY23 has been strong for India's economy despite th

Retail inflation for farm, rural workers rises marginally in March

Retail inflation for farm labour and rural workers rose marginally to 7.01 per cent and 6.94 per cent, respectively, in March compared to February this year, mainly due to higher prices of certain food items. "Point-to-point rate of inflation based on the CPI-AL (consumer price index-agricultural labourers) and CPI-RL (rural labourers) stood at 7.01 per cent & 6.94 per cent in March 2023 compared to 6.94 per cent & 6.87 per cent, respectively, in February 2023, and 6.09 per cent and 6.33 per cent respectively during the corresponding month (March 2022) of the previous year," a labour ministry statement said. Similarly, it stated that the food inflation stood at 7.12 per cent and 7.07 per cent in March 2023 compared to 6.82 per cent and 6.68 per cent, respectively, in February 2023 and 4.91 per cent and 4.88 per cent, respectively, during the corresponding month of the previous year, it added. The All-India Consumer Price Index Number for Agricultural Labourers and Rural ...

Cotton exports seen sliding, matching imports for first time in years: USDA

India's cotton exports are expected to slide sharply for 2022-23 and match imports into the top producer for the first time in about two decades on low domestic stocks among other factors, USDA said

Hailstorms, rains damage over 100,000 acres of Crops in Maha: Ajit Pawar

Leader of Opposition in the Maharashtra Legislative Assembly Ajit Pawar on Wednesday said crops over more than one lakh acres have been damaged due to the recent unseasonal rains and hailstorms in the state. The state government should provide aid to the affected farmers, he demanded while speaking to reporters here. "Onion, papaya, grapes and other crops have been destroyed," the Nationalist Congress Party leader said. He would be meeting, in his capacity as Leader of Opposition, Chief Minister Eknath Shinde and Deputy Chief Minister Devendra Fadnavis for the meeting of a committee set up to make certain appointments on Wednesday, Pawar said. "I will also apprise them of the losses faced by farmers," he added. To a question about reports that the Enforcement Directorate has given him a clean chit in the alleged Maharashtra State Cooperative Bank scam, Pawar said it was not true and the probe was still going on. Asked about Shiv Sena (UBT) chief Uddhav Thackeray meeting NCP ...

Citi, JICA announce co-finance loan to IndusInd Bank for agriculture sector

This includes a $30 million loan by Citi and JPY 13 billion loan by JICA

Over 260 districts in 27 states distributing fortified rice: Govt

A total of 269 districts in 27 states have started distributing fortified rice under the Targeted Public Distribution System, achieving a 100 per cent target set for second phase by March 2023

Govt expecting record 112 mn tonne wheat output despite damage due to rains

Union Food Secretary Sanjeev Chopra on Thursday said the government is hopeful of a record wheat production of 112.18 million tonne in 2022-23 crop year ending June despite inclement weather conditions in some parts of the country affecting grains quality. The government has projected a record wheat production at 112.18 million tonne in the 2022-23 crop year (July-June). Wheat production had declined marginally to 107.74 million tonne in the previous year due to heat wave in some states. "Because of the inclement weather in the last two weeks, there has been some damage to the wheat crop. But the production loss will be minimal. We are hopeful of achieving the overall production target of 112.2 million tonne," Chopra said. The secretary said quality norms for wheat procurement has been relaxed in Madhya Pradesh and the Centre will soon take a call on relaxing quality norms for wheat procurement in Punjab and Haryana. The procurement by state-owned FCI and state agencies have alread

New foreign trade policy to aid exports via e-com, farm equipment: Experts

The new Foreign Trade Policy (FTP) 2023, announced recently, will help in promoting exports of sectors from e-commerce, batteries for electric vehicles and farm equipment, experts said on Tuesday. India on March 31 came out with the new policy which aimed at pushing rupee trade, increasing outward shipments to USD 2 trillion by 2030, and promoting e-commerce exports, amid global uncertainties. Rumki Majumdar, Economist at Deloitte India, said that the policy emphasises on the manufacturing and export sectors with a long term view. Sectors such as batteries for EVs, green hydrogen, and garment, amongst others will benefit from the policy, she said, adding that with over 80 per cent of trade being done in the USD, encouraging trade in Indian rupee will be a relief. "It will also add to its resilience to external shocks and improve negotiating capabilities in international trade," Majumdar said. Shashi Mathews, Partner at IndusLaw, said that through the policy, the government's focus