NABARD Favours Increasing Credit Flow by Rs. 10,000 cr. in 2010-11

Hello Friends here we come up with the Latest Agri Commodities updates from various parts of the country.

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NABARD favours increasing credit flow by Rs. 10,000 cr. in 2010-11

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NABARD favours increasing Credit Flow by Rs. 10,000 cr. in 2010-11

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Chairman of the National Bank for Agriculture and Rural Development (NABARD),Umesh Chandra Sarangi on Wednesday stressed the need for enhancing the credit potential in the State by at least by Rs. 10,000 crore in 2010-11 over the previous year’s Rs. 27,543 crore.

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NABARD’s regional office has estimated a credit flow potential at Rs. 31,254.74 crore for 2010-11.

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Crop loans of farmers affected by floods would be rescheduled.

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These credit estimates provided the basis for preparation of district credit plans by lead banks in each district, he said.

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In Other major Commodities Updates we have news of Agri Commodities turning bearish since the beginning of the new year and downward revision of reserve price of wheat by the Centre.

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Agri commodities FALL on global cues

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Barring wheat and sugar, all other agri commodities have turned bearish since the beginning of the new year, providing much needed relief to consumers and policy makers.

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Prices of agricultural commodities have declined by up to 11 per cent since January 1 which analysts attribute to a downward turn in the global markets.

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Also, fresh arrivals, including pulses, have provided relief to the government.

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New pulses crop arrivals have started in Maharashtra which, for sometime, will keep prices under pressure.

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Delay in government tenders coupled with higher quotes kept wheat prices firm while unavailability of cane for crushing pushed prices of sugar up.

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🙂

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Lower price of wheat cheers roller flour mills:

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The roller flour mills in Punjab, Haryana and Chandigarh got a new beginning in the new year with the downward revision of reserve price of wheat by the Centre for bulk buyers.

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The price cut of Rs 200 per quintal under the open market sales scheme(OMSS) from Rs 1,440 per quintal to Rs 1,240 per quintal has helped over 80 roller flour mil is in the region to streamline their operations.

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Under OMSS the states are given a specific quantity of wheat.

Punjab got 140,000 tonnes and Chandigarh got about 14,000 tonnes.

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The roller flour mills and big chakkis get an allocation of about 1,000 tonne per month at the price quoted in the tender.

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The price at which the millers buy wheat under OMSS is slightly higher than the reserved price but substantially lower than the price offered by private players.

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🙂

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One response to this post.

  1. Good points, I think I will definitely subscribe! I’ll go and read some more! What do you see the future of this being?

    Reply

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