7 12, 2017

Four-fold increase in paddy procurement in UP

2017-12-08T10:07:23+00:00 December 7th, 2017|Agri Commodities|

Economic Times | December 07, 2017 Marking a four-fold increase in paddy procurement, the Uttar Pradesh government today informed that it has procured 14.49 lakh tonnes paddy for Rs 2,250 crore, thus benefiting 1,68,112 farmers. This was conveyed by Chief Secretary Rajive Kumar at a meeting here with Food Corporation of India (FCI) Chairman and [...]

7 12, 2017

Bengal rice farmers see a bright spot in Africa

2017-12-08T10:06:37+00:00 December 7th, 2017|Agri Commodities|

Economic Times | December 07, 2017 Paddy farmers of West Bengal, the country’s largest producer of rice, are exploring African markets to export their produce, following a dip in demand from Bangladesh. “We are looking at West and South Africa for exporting our G1or Swarna Laghu variety of rice from the state,” said Subrata Mondol, [...]

7 12, 2017

USDA revises down India’s Cotton output forecast

2017-12-08T10:05:43+00:00 December 7th, 2017|Agri Commodities|

December 07 2017 United States Department of Agriculture's (USDA) foreign affairs agency Foreign Agricultural Service (FAS) has revised down India's Cotton production forecast to 29.8 million 480 lb. bales (38.16 million 170 kg. bales/6.5 mmt) on acreage of 12.3 million hectares. The forecast is 200,000 480 lb. bales lower than USDA official estimate… Source:https://www.commodityonline.com/commodity-news/usda-revises-down-indias-cotton-output-forecast/news-now/18118

6 12, 2017

Rupee down 14 paise to 64.52 on RBI’s inflation forecast

2017-12-07T10:37:31+00:00 December 6th, 2017|Economy|

The Hindu Businessline | December 06, 2017 The rupee today weakened further by 14 paise to close at 64.52 as the RBI's Monetary Policy Committee has decided to keep the policy repo rate under the liquidity adjustment facility (LAF) unchanged at 6.0 per cent but has raised the inflation forecast for remainder of the current financial year [...]

6 12, 2017

Sugar prices melt on higher output estimates

2017-12-07T10:32:33+00:00 December 6th, 2017|Agri Commodities|

Money Control | December 06, 2017 Sugar saw a fall of Rs 40 per quintal in its prices at the wholesale market in the national today on higher output estimates.The Indian Sugar Mills Association (ISMA) has pegged 251 lakh tonnes (lt) sugar output this year as against 202 lt in the last year… Source:http://www.moneycontrol.com/news/business/economy/sugar-prices-melt-on-higher-output-estimates-2455691.html

6 12, 2017

Crude oil futures drop to Rs. 3,698 per barrel

2017-12-07T10:30:18+00:00 December 6th, 2017|Agri Commodities|

The Hindu Businessline | December 06, 2017 Crude oil futures fell Rs. 26 to Rs. 3,698 per barrel today as speculators reduced their positions amid a weak trend overseas. Profit-booking at existing levels too weighed on crude prices.At the Multi Commodity Exchange, crude oil for delivery in December was trading lower by Rs. 26 or 0.70 per cent at Rs. 3,698 per barrel [...]

6 12, 2017

The futility of customs duty hikes on agri-commodities

2017-12-07T10:27:10+00:00 December 6th, 2017|Agri Commodities|

The Hindu Businessline | December 06, 2017 In a desperate bid to shore up prices of oilseeds and pulses, the Union government last month sharply increased the customs duty on various imported edible oils (palm, soya, sun, rapeseed oils) and slapped a 50 per cent customs duty on imported yellow peas… Source:http://www.thehindubusinessline.com/economy/agri-business/the-futility-of-customs-duty-hikes-on-agricommodities/article9984751.ece

6 12, 2017

RINL-Visakhapatnam Steel Plant registers a 31% growth in turnover to Rs 9,650 crore

2017-12-07T10:26:19+00:00 December 6th, 2017|Non Agri Commodities|

Economic Times | December 06, 2017 RINL-Visakhapatnam Steel Plant has registered a 31% growth in turnover to Rs 9,650 crore during April-November’17 compared to the same period last year.The plant also reported a 15% increase in saleable steel production to 2.76 million tonne during April-November 2017 compared to 2.4 mt in the same period last [...]

6 12, 2017

India to phase out import of ‘petcoke’ after investigation revealed vast exports from US

2017-12-07T10:25:33+00:00 December 6th, 2017|Non Agri Commodities|

Economic Times | December 06, 2017 India's government says it plans to phase out imports of a dirty fuel known as petroleum coke, or "petcoke," after an Associated Press investigation found US oil refineries are exporting vast quantities of the product to India. But when it comes to domestic use, the government seems to be [...]

6 12, 2017

Telangana asks farmers to terminate cotton crop

2017-12-07T10:23:54+00:00 December 6th, 2017|Agri Commodities|

The Hindu Businessline | December 06, 2017 With pink bollworm turning virulent and posing a serious threat to the interests of farmers, the Telangana government has asked the farmers to terminate the crop before December. It has ordered an intense awareness campaign to educate the farmers to uproot the plants out after third picking… Source:http://www.thehindubusinessline.com/economy/agri-business/telangana-asks-farmers-to-terminate-cotton-crop/article9984740.ece