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. Centre’s ₹2,000 – ₹3,000 Crore Scheme To Digitalise PACs
The Union Cooperation Ministry is working on a new central scheme to modernize and digitalize over 97,000 primary agriculture cooperative societies (PACs). A budget outlay of around ₹2,000-3000 crore has been allocated to this scheme for the next five years. PACs are village-level lending institutions based on cooperative principles. They provide short and medium-term loans to rural people to meet their financial requirements. Read more here.
2. Crystal Crop Acquires Portfolio Of Products From Bayer Crop Science
Crystal Crop Protection has entered into a definitive agreement with Bayer to acquire cotton, mustard, pearl millet, and grain sorghum hybrids in India. Crystal Crop Protection is a leading R&D-based crop solution company. Both organizations will work together to close the transaction by December 2021. This acquisition is a step forward to providing high-performance seeds to Indian farmers for the sustainable growth of Indian agriculture. Read more here.
3. Gujarat To Harvest Record High Groundnut Crop
Industry body Solvent Extractors’ Association (SEA) of India has pegged the groundnut production of Gujarat at 38.55 lakh tons, up by 8.74% than the previous year. Gujrat is the top producer of this oilseed. The production is up mainly due to normal to excessive rainfall during the months of August and September and the absence of significant crop damage. Read more here.
4. Indian Tea Exports May Recover As Kenyan Government Fixes Minimum Reserve Price
India’s tea exports, which suffered heavily owing to the availability of Kenyan tea at lower prices may witness a recovery now. The Kenyan government has fixed a minimum reserve price for tea to protect the interest of tea producers in the country. The sharp price difference between the Indian and Kenyan teas has narrowed down. Indian producers have started receiving export inquiries from West Asia, Russia, Kazakhstan, and the US for black tea. Read more here.
5. Oil meal Exports Down 36% In September 2021
Export of oil meal, used as animal feed has been declined to 1.83 lakh ton in September on account of the domestic shortage of the oil meal products. The Industry body SEA said so on 18 October. To meet local shortages the government has allowed the import of genetically modified (GM) soy meals. It should give at least some relief to the poultry industry. Read more here.
6. Centre Buys 56.62 Lakh tons Of Paddy In Kharif Marketing Season For ₹11,000 Crore
In the current Kharif Marketing Season, the government has procured 56.62 lakh tons of paddy so far for over ₹11,000 Crore. Food Corporation of India (FCI) is the government’s nodal agency for the procurement and distribution of food grains. The procurement took place in states and UTs of Chandigarh, Haryana, Himachal Pradesh, Jammu & Kashmir, Punjab, Uttar Pradesh, and Uttarakhand. Read more here.
7. Centre Infused ₹1,31,000 Crore To Boost Agriculture And Allied Sectors
The Centre has infused ₹1,31,000 crore to boost agriculture and allied sectors with special emphasis on becoming an export-oriented economy. Union Minister Shobha Karandlaje said that India has tremendous potential to satiate global agriculture demand. Karandlaje e-inaugurated various projects of the public works department, costing ₹519.50 lakh, and laid e-foundation stones of different projects worth ₹198.2 lakh. Read more here.
8. India Is China’s Top Rice Supplier During January-August Year
India has become the top source of Chinese rice imports during January-August this year. Shipments in August alone has accounted for 45% of the total imports. Data suggests and trade sources point out that the increased volume of imports rests on cheap prices for Indian-origin rice averaged at ₹25,822per ton compared with world average prices of ₹33,980.77. Read more here.
9. UK Firm Rajah Spices Collaborates With SEWA to Double Women Farmers’ Income
In a bid to empower women farmers in Gujarat, UK firm Rajah Spices has joined hands with the Self-Employed Women’s Association (SEWA). The project will boost the income of women farmers who grow cumin, jeera, turmeric, and other spices in the state. The initiative is not only supporting the farmers to get sustainability in their livelihoods, but it helps their families as well. Read more here.
10. ChargeERP Modified Crate Analysis Page
ChargeERP, the easiest, fastest, and most secure mandi accounting software from Bijak has recently made changes in the existing ‘Crate analysis’ tab. This is to address mandi businesses who need to maintain a proper ledger of crates issued and received from a specific account of a customer or supplier. They have renamed the existing ‘Crate Ledger’ tab as ‘Crate Balance’ and a new tab called ‘Crate Ledger’ is added.