Get to know what’s happening in the Indian agricultural sector with the top 10 weekly news.
Want to know what is going on in the agricultural sector of India? Here’s a weekly round-up of the top 10 news.
1. Kerala Spices Board Launched Quality Improvement Training Program For Farmers
To avoid export rejection, the Kerala Spices Board has established a Quality Improvement Training Program for farmers. The program will assist them to avoid hazardous chemicals in the production of crops like cardamom. According to sources, there have been some cases of rejection in the past. However, the Board’s authorities were frequently following up on the issues to help farmers overcome the difficulty. Read more here.
2. Vegetable Prices Rise In Delhi Due To High Fuel Rates & Crop Damages
The prices of vegetables like tomato and onion have increased in Delhi’s wholesale and retail markets. It is due to crop damages in Karnataka and Maharashtra from heavy rainfall and high fuel rates. Traders said the price rise in the wholesale rates of vegetables was between ₹10-₹15 per kg; while in the retail market, it was around ₹15-₹20 per kg. They have also indicated that these consumables may get dearer in the future. Read more here.
3. Prices Of Cooking Oils Fall On Reduction In Import Duties
The government said that retail prices of cooking oils, except mustard oil, have fallen in the domestic market despite a surge in global rates. This is the effect of reducing import duties on crude and refined edible oils. International prices of edible oils have gone up in the range of 1.95% to 7.17%. However, domestic retail prices have reduced in the range of 0.22 % to 1.83 %. Read more here.
4. Cotton Prices May Stay Way Above Set MSP In 2021-22 Cotton Year
A strong rebound in post-Covid-19 demand is expected to keep Indian cotton prices way above the government-set minimum support price levels in the 2021-22 cotton year. Along with cutting India’s cotton exports, high cotton prices will also reduce the central government’s procurement budget for cotton. The prices are currently ruling about 30% to 40% above the MSP. Read more here.
5. Cabinet Approves ₹28,655 Crore Fertilizer Subsidy For Rabi Season
The Centre has approved an additional fertilizer subsidy of ₹28,655 crores for the rabi season from October 2021 to March 2022. The Cabinet Committee of Economic Affairs (CCEA) introduced the new nutrient-based subsidy rates for phosphatic and potassic fertilizers on 12th October. The subsidy is paid to fertilizer companies as compensation for selling their products to farmers below market prices. Read more here.
6. Natural Farming Gives Edge To Himachal Pradesh Apple Growers
According to State Project Implementing Unit, a total of 1,33,056 farmers are practicing natural farming in Himachal Pradesh, including 12,000 apple orchardists. An apple grower Shakuntala Sharma has fetched a record price of over ₹100 per kg for apples she had grown under natural conditions. Another grower has sold an apple box of 25 kg for ₹4,200-4500 in far-off states like Tamil Nadu, Gujarat, and Karnataka. Read more here.
7. Sugar Companies Likely To Witness 5-7% Revenue Growth
Due to stable domestic and global prices, sugar companies’ revenue is likely to grow by 5-7% in 2021-22. This surge will also be due to the expected growth in both sugar exports and ethanol volumes. Giving more insights on this Senior Vice President & Group Head, ICRA said that increased sucrose diversion towards ethanol is likely to result in the ramp-up of ethanol supplies while limiting the sugar production. Read more here.
8. Government To Distribute 8.20 Lakh Free Hybrid Seed Mini Kits To Farmers
Under the National Food Security Mission (NFSM) – Oil Seed and Oil Palm Scheme by the Union Ministry of Agriculture & Farmers Welfare, 8,20,600 seed mini-kits will be distributed. These kits will be distributed free of cost in 343 identified districts of 15 major producing states of the country. This program is meant for increasing the production and productivity of certain crops and increasing the income of the farmers. Read more here.
9. 10750 Hiring Centres To Boost Agriculture In Andhra Pradesh
Andhra Government will provide 10,750 hiring centers around the state as a boost to its agriculture sector. With a cost of 2,133 crores, these recruitment centers will be joined with Rhythu Bharosa Kendras. The state government will also set up 175 high-tech hubs in each of the assembly constituencies. This program will be implemented under YSR Farm Mechanism Service Scheme. Read more here.
10. ChargeERP Continues To Add New Features & Functionalities
ChargeERP, the easiest, fastest, and most secure mandi accounting software from Bijak is continuously adding new features and functionalities to its platform. Recently, they have added the ‘Backup and Restore’ option, ‘Inventory’ page, and ‘Weekly View’ option. One of the latest changes they did is the addition of unit ‘Mann’ in their list of units for helping the onion traders. Also, they have added a provision of adding a unique code to the account of customers or suppliers so that their accounts can be searched easily across the modules.
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