Want to know what is going on in the agricultural sector of India? Here’s a round-up of the top 10 news.
1. Agri-tech And Aquaculture Sectors Seek Incentives For R&D In Budget 2022
Agri-tech and aquaculture sectors have sought incentivization of research and development and inclusion of formal finance and insurance in aquaculture in the upcoming Budget. The agritech sector also sought support from the government in terms of tax benefits, eligibility criteria to boost the progress of the sector. The aquaculture industry feels that to achieve the Pradhan Mantri Matsya Sampada Yojana (PMMSY) targets, the need of the hour is to drive the inclusion of formal finance and insurance in aquaculture. Read more here.
2. Tea Industry Urges Govt To Come Up With Schemes
The tea industry has urged the government to come up with schemes to help increase tea exports from India and give financial support to set up tea lounges to promote tea drinking in the country in the upcoming budget. They have also said that the Budget should introduce new objectives so that the Tea Board can act as a facilitator for optimizing the development, promotion, and research in the tea industry. Madhav Sarda, managing director, Golden Tips Tea said that the Tea Board has almost done away with subsidizing exporters’ participation in overseas expos. Read more here.
3. India’s 2021-22 Sugar Production To Rise To 3.19 Crore Tonnes
Sugar production in India, the world’s second-largest producing nation after Brazil, is estimated to increase by 2.90% to 3.19 crore tonnes in the ongoing 2021-22 marketing year, according to AISTA. With an estimated production of 3.19 crore tonnes plus an opening stock of 83 lakh tonnes with mills, the total availability of sugar in the country is expected to be 4.02 crore tonnes in the current marketing year. Out of the total estimated sugar production for this year, mills in Uttar Pradesh are estimated to produce 1.05 crore tonnes of sweetener. Read more here.
4. Unseasonal Rains And Hail Affect Rabi Crops In North India
Unseasonal rains and hailstorms over the past few days in northern India have impacted rabi crops like mustard, wheat, gram, and potato. Mustard crop, which should have come to the market in the first week of February, will now be delayed by three weeks as harvesting will not start till the fields dry up. Sensing that the crop arrival will be delayed, wholesale prices of mustard oil have shot up by ₹5 per litre over the last week. The unseasonal rainfall that started from the second week has been beneficial for some crops while impacting the growth of a few others. Read more here.
5. India Emerges As The Largest Exporter Of Cucumber
India has emerged as the largest exporter of gherkins in the world. During the months of April to October (2020-21), India exported 1,23,846 metric tonnes of cucumber and gherkins for ₹857.6 Crores (US$ 114 million). In the previous fiscal year, India’s agricultural processed product exports of pickled cucumber, often known as gherkins or cornichons, surpassed ₹1504.6 Crores (US$ 200 million). Gherkin cultivation, processing, and exports began in Karnataka in the early 1990s and then expanded to the neighbouring states of Tamil Nadu, Andhra Pradesh, and Telangana. India produces nearly 15% of the world’s gherkin supply. Read more here.
6. Andhra Pradesh Extends Support To SC Women Farmers For Natural Farming
The Andhra Pradesh government announced financial support to more than 70,000 women from scheduled castes (SC) to promote natural farming among marginal farmers. A one-time subsidy of ₹10,000 and an interest-free loan will be given to each of the identified 71,560 SC farmers, including the tenant farmers, in 30 districts. The move has been envisioned to help them switch from conventional to natural farming and reduce their input costs. The government will use its extensive network of women’s self-help groups (SHG) to encourage the transition. Read more here.
7. NAFED To Create 65 FPOs Of Beekeepers And Honey Processors
National Bee Board (NBB) conducted a National Conference on Beekeeping Sector together with National Agricultural Cooperative Marketing Federation of India Ltd. (NAFED), Tribal Cooperative Marketing Development Federation of India Limited (TRIFED), and National Dairy Development Board (NDDB). During the conference Additional Secretary, Ministry of Agriculture & Farmers Welfare, Dr. Abhilaksh Likhi, spoke on National Beekeeping & Honey Mission (NBHM). NBHM is a central sector scheme that was launched by Govt. of India for the overall promotion & development of scientific beekeeping in the nation. Read more here.
8. India’s Wheat Exports To Hit A New High This Fiscal Year
On the basis of strong demand from nations in South Asia and South-East Asia, India’s wheat exports are expected to reach a new high of between 6.5 million tonnes (mt) and seven million tonnes (mt) this fiscal. Wheat exports during the April-November period of the current fiscal were 4.11 million tonnes, valued at ₹8,547.58 crores, according to the Agriculture and Processed Food Products Export Development Authority (APEDA). In comparison, overall wheat exports in the previous fiscal year were only 2.08 million tonnes, valued at ₹4,033.81 crores. Read more here.
9. FAARMS Collaborates With Reliance To Provide Insurance Solutions for Rural India
Agri-tech start-up FAARMS, in collaboration with Reliance General Insurance Company Ltd. (RGICL), one of the country’s largest private sector general insurance companies, has launched customized digital insurance solutions for the rural population, particularly farmers. The collaboration aims to provide comprehensive financial protection to the country’s uninsured citizens. Under this collaboration, farmers can conveniently access and choose from a range of health and cattle insurance at the touch of a button on their smartphones. Read more here.
10. ChargeERP Launches Journal And Cash/Bank Book In Bills & Reports
ChargeERP, the easiest, fastest, and most secure mandi accounting software from Bijak has introduced Journal and Cash/Bank Book features in their Bills and Reports Module. While Journal will record your miscellaneous transactions such as food and beverage expenses, etc., Cash/Bank Book maintains an online book to record all cash and bank-related transactions. Cash/Bank book can tell users how much money they started with, and how much are they left with at the end of the day.