Oilseeds and pulses get higher MSP raise; MSP for wheat upped by 2%; barley 2.2%, gram 2.5%
The government has procured record 43.33 million tonne of wheat in the 2021-22 rabi marketing season, the Food Ministry said on Monday. Wheat marketing season is from April to March, but bulk of procurement is normally done in the first 3-4 months. The previous record was 38.99 million tonne (MT) in the 2020-21 rabi marketing season. "Hitting an all-time high, 43.33 million tonne of wheat has been procured from most of the wheat procuring states after conclusion of current marketing season 2021-22," the ministry said in a release. About 49.15 lakh farmers have already benefitted from the current procurement operations with an MSP (minimum support price) value of Rs 85,581.39 crore, it said. However, procurement of paddy grown in the kharif season of 2020-21 is still continuing. Kharif paddy is procured between October and September. The ministry said paddy buying is continuing smoothly and so far 86.98 million tonne of paddy has been purchased as against 75.92 million tonne in th
The previous record in wheat procurement was 38.99 mt achieved in the 2020-21 season
Farm fires are likely to exacerbate this year
A sharp drop in returns could exacerbate farmers' woes and fuel the ongoing protest; rabi crops currently being harvested are grown mostly in the Northern parts of the country, the hotbed of the stir
Foodgrain production is expected to rise 2% in 2020-21 season to record 303.34 mt, says govt
After being relegated to the second spot in the previous two fiscal years, China again became India's biggest trading partner in the first nine months of FY21. Read top stories with Business Standard
With farmers taking to the streets and a bumper crop expected, it is unlikely that there will be any let up in wheat procurement in the 2021-22 marketing season
While rabi season drives hopes of a strong Q3, analysts are hopeful of strong growth over the next two years
The country's rabi foodgrains production including wheat in the ongoing 2020-21 crop year is expected to be better than the previous year's record of 153.27 million tonne
Agency had forecast a small contraction of one per cent during Q3
Shares buck the market trend, advance between 3 to 8 per cent on Thursday
According to rating agency CRISIL, kharif harvest was delayed last year, so acreage growth under rabi was on a low base till November 2019.
Experts say many crops don't come into the market during July-Sept and the real impact of kharif harvest will be felt in the subsequent quarters
In all, the average area under rabi crops in the last five years is 62.02 million hectares which means that so far 43 per cent of normal area has been covered this year
Eight Opposition MPs suspended from RS for unruly behaviour during passage of the Bills
The target for the 2020-21 crop year was set at the National Conference for Rabi Campaign 2020, which was held on Monday to review the progress of the kharif season and plan for the rabi crops
Buying sentiment in rural areas is also better due to good initial spell of rains in June which has led to a better sowing of the kharif crop
Govt asserts desert locusts have not impacted rabi crops and efforts are on to eliminate the insects before monsoon in order to save kharif
The production of cereals, pulses and oilseeds is estimated to decline by 1.95 per cent, 2.22 per cent and 13.48 per cent, respectively, in 2019-20 compared to last year, according to the report.