Posts Tagged ‘agriculture’

India’s Sugar Output Could Rise by 16 Million Tonnes : Pawar

Food and Agriculture Minister Sharad Pawar stated that due to improved yields in key growing states, India’s sugar output in the current season could rise by 16 million tonnes (MT). 馃檪

.

The output is still much short of India’s annual demand of 23 MT.

.

Sugar season runs from October to September.

.

He said that the productivity of sugarcane has boosted considerably in Karnataka and Gujarat along with the top 2 producers Maharashtra and Uttar Pradesh..

.

The encouraging trend is that sugarcane productivity particularly in Uttar Pradesh, Maharashtra, Karnataka and Gujarat has improved substantially.

.

Meanwhile, Maharashtra and UP produce nearly 60% of India’s total sugar output.

.

He added that the government may revise upwards the sugar estimates after reports of higher cane yield from these states.

.

On the other hand, the government has estimated sugar output in the 2009-10 season (October-September) at 16 MT, against 14.7 MT in the previous season.

.

Earlier, Biscuit makers stated that the government’s decision to reduce stock limits of sugar to 10 days will have an unfavorable impact on their production and also that they should be allowed to keep supplies for minimum 30 days.

.

Federation of Biscuits Manufacturers of India (FBIM) Secretary Mallika Verma stated that any control imposed on stock limit of sugar will restrict manufacturer’s freedom in the manufacture of finished goods.

.

Previously, Kanhaiyalal Gidwani, a senior Maharashtra Congress leader has urged the Prime Minister to limit industrial users from consuming domestically produced sugar, stating that sugar prices could touch a high Rs 60 a kg if supply is not hiked.

.

Such a step can augment the supply by a hefty 40 lakh tonne as 20% of the domestic demand come from industrial users.

.

He said the Centre should change sugar control policy by restricting industrial users like manufacturers of soft drinks, fruit-juices, alcohol, chocolates and ice-creams from using locally produced sugar and instead allow them to import the sweetener.

.

Moreover, the Centre has extended the stock limit order for sugar till September for Sugar, where the states are authorized to take action against the hoarders and black marketers.

.

Earlier the validity of the anti-hoarding order was issued in March, 2009 and was supposed to expire on 31st of January, which has been further extended till September. Previously, the order was extended for 6 months till July, 2009.

.

However, earlier, it was said that inspite of the promise made by Mr. Sharad Pawar, Food Minister of the country, to reduce the retail prices of sugar, still the prices are increasing.

.

Therefore, to boost the domestic supply and temper prices, the Prime Minister – Dr. Manmohan Singh approved the proposal to sell imported raw sugar stocks lying at Mundra and Kandla ports.

.

Meanwhile, the government had announced a vital repose of norms for the import of raw sugar, where the sugar could be refined anywhere in the country and not only by the mill that had imported it.

.

Mr. Sharad Pawar, Agriculture Minister said to accelerate the refining of raw sugar and improve its availability in the market, the government has relaxed the central excise rules to enable the processing of sugar in any mills of the state.

.

On the other hand, Mr. Sharad Pawar our Food Minister has said, the country will have enough sugar this year, but the prices of sugar will continue to be higher because of the low output in sugar. Further he said rising prices of sugar is a big concern for the government.

.

Along with the Food Minister our Prime Minister Man Mohan Singh in a meeting with the Indian Sugar Mills Association (ISMA) has also expressed concern regarding rising of sugar prices and their possible impact on consumer prices.

Stay Tuned聽for More updates聽:)

.

Note : For More Latest Industry, Stock Market and Economy News and Updates, please聽click here

Advertisements

BUDGET OUTCOMES COMMODITIES :)

Finance minster reaffirms commitment to introduce GST along with DTC in April, 2011. 馃檪

.

路A Nutrient Based Subsidy policy for the fertiliser sector聽has since been approved by the Government and will聽become effective from April 1, 2010.

.

路To extend the green revolution to the eastern region of聽the country & propose to provide Rs.400 crore for this聽initiative.

.

路Propose to organize 60,000 “pulses and oil seed villages” in rain-fed areas during 2010-11 and provide an聽integrated intervention for water harvesting, watershed聽management and soil health, to enhance the productivity聽of the dry land farming areas.

.

路Propose an allocation of Rs.200 crore for launching this聽climate resilient agriculture initiative.

.

FCI has been hiring godowns from private parties for a聽guaranteed period of 5 years. This period is now being聽extended to 7 years.

.

路Targets set for agriculture credit flow has been raised to聽Rs.3,75,000 crore from Rs.3,25,000 crore in the current year.

.

路Propose to extend by six months the period for repayment聽of the loan amount by farmers from December 31, 2009 to聽June 30, 2010.

.

路Provided an additional one per cent interest subvention聽as an incentive to those farmers who repay their聽short term聽crop loans as per schedule.

.

路External Commercial Borrowings will henceforth be聽available for cold storage or cold room facility.

.

路Customs duty on聽silver raised to 1,500 rupees from 1,000聽rupees per kg.

Stay Tuned聽for More updates聽:)

.

Note : For More Latest Industry, Stock Market and Economy News and Updates, please聽click here

Points Discussed in Budget :)

  • Excise duty on silver rose to 10%
    .
  • Surcharge on domestic cos reduced to 7.5% from 10%..
  • Excise duty on oil rose to 10%.
  • Fiscal deficit will be at 5.5% in 10-11, at 4.8% in 11-12 and 4.1% in 12-13
    .
  • Revised income tax slabs 馃檪
    .
  • Net market borrowing for 2010-11 at Rs 3, 45,010..
  • Extended 1% interest subsidy scheme for affordable housing.
  • Rs 5400 cr of funds allocated for urban development..
  • Defense allocation rose to Rs 147344 cr.
  • Rs 48000 cr allocated for Bharat Nirman.
  • Farmer loans extended for 6 months to June 30th 2011.
  • Allocated Rs1.73 lakh cr for infrastructure..
  • Agriculture credit flow targets at Rs. 375000cr.
  • FDI worth $20.9 bn in April to Dec 2009.
  • Proposed Rs 16500 cr for PSU banks.
  • Challenge for a 9% growth, need to review stimulus.
  • Stay Tuned聽for More updates 馃檪

    .

    Note : For More Latest Industry, Stock Market and Economy News and Updates, please聽click here

    Lets Know About Economic Indicators :)

    Hello Friends here we come up with our another write up on 鈥淪MC Gyan Series鈥.

    .

    Lets Know About Economic Indicators

    .

    Topic is 鈥Economic Indicators鈥.

    .

    Economic indicators are important as they provide an accurate account of nation鈥榮 economy at various points of time.

    .

    There are various types of economic indicators that deal with different periods of time and there are others that deal with separate administrative divisions like states for example.

    .

    They are important in context of analyzing nation鈥檚 economy.

    .

    In this Blog, we would know what are major economic indicators ?

    .

    Major Economic Indicators :

    .

    1. Industrial Production:

    .

    Measures the change in the production of the nation鈥檚 factories, mines and utilities, industrial production.

    Also measures the country鈥檚 industrial capacity utilization.

    2. Gross Domestic Product (GDP):

    .

    Indicates the pace at which a country鈥檚 economy is growing or shrinking.

    3. Purchasing Managers Index (PMI):

    .

    This index includes data on new orders, production, supplier delivery times, backlogs, inventories, prices, employment, export and import orders.

    4. Producer Price Index (PPI):

    .

    Measures average changes in selling prices received by domestic producers in the manufacturing, mining, agriculture, and electric utility industries.

    The PPIs most often used for economic analysis are those for finished goods, intermediate goods, and crude goods.

    5. Consumer Price Index (CPI):

    .

    Measures the average price level paid by urban consumers (80% of the population in major currency countries) for a fixed basket of goods and services.

    6. Durable Goods:

    .

    Measures new orders placed with domestic manufacturers for immediate and future delivery of factory hard goods.

    This figure is a useful measure of certain kinds of customer demand.

    7. Employment Cost Index (ECI):

    .

    ECI counts the number of paid employees working part-time or full-time in the nation鈥檚 business and government establishments.

    8.Retail Sales:

    .

    It is the indicator of broad consumer spending patterns and is adjusted for normal seasonal variation, holidays, and trading-day differences.

    9. Housing Starts :

    .

    Measures the number of residential units on which construction is begun each month.

    Thus to conclude Economic indicators is a tool for an investor for knowing the economic world.

    .

    It also simultaneously a tool to smartly make money out of the sensitive movements of the financial & commodities market.

    馃檪

    .

    Note : For More Latest Industry, Stock Market and Economy News and Updates, please click here

    Economic Indicators

    Hello Friends here we come up with our another write up on 鈥淪MC Gyan Series鈥.

    Topic is “Economic Indicators”.

    In this Blog, we would know what are major economic indicators ?

    .

    Economic Indicators

    .

    Major Economic Indicators :

    .

    .

    Industrial Production:


    Measures the change in the production of the nation鈥檚 factories, mines and utilities, industrial production.

    Also measures the country鈥檚 industrial capacity utilization.

    .

    Gross Domestic Product (GDP):

    Indicates the pace at which a country鈥檚 economy is growing or shrinking.

    .

    Purchasing Managers Index (PMI):

    This index includes data on new orders, production, supplier delivery times, backlogs, inventories, prices, employment, export and import orders.

    .

    Producer Price Index (PPI):


    Measures average changes in selling prices received by domestic producers in the manufacturing, mining, agriculture, and electric utility industries.

    The PPIs most often used for economic analysis are those for finished goods, intermediate goods, and crude goods.

    .

    Consumer Price Index (CPI):


    Measures the average price level paid by urban consumers (80% of the population in major currency countries) for a fixed basket of goods and services.

    .

    Durable Goods:


    Measures new orders placed with domestic manufacturers for immediate and future delivery of factory hard goods.

    This figure is a useful measure of certain kinds of customer demand.

    .

    Employment Cost Index (ECI):


    ECI counts the number of paid employees working part-time or full-time in the nation鈥檚 business and government establishments.

    .

    Retail Sales:


    It is the indicator of broad consumer spending patterns and is adjusted for normal seasonal variation, holidays, and trading-day differences.

    .

    Housing Starts:


    Measures the number of residential units on which construction is begun each month.

    .

    馃檪

    .

    Thus to conclude Economic indicators is a tool for an investor for knowing the economic world.

    It also simultaneously a tool to smartly make money out of the sensitive movements of the financial & commodities market.

    .

    馃檪

    Note : For More Latest Industry, Stock Market and Economy News and Updates, please click here

    Global cotton output may rise over 8%: ICAC

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

    .

    Global cotton output may rise over 8%: ICAC

    .

    Global cotton output may rise over 8%: ICAC


    Cotton production world-wide is likely to rise by over 8% in the 2010-11 season on higher output in the US and China following high prices, a global cotton body says.

    .

    The global cotton production in the 2010-11 season (October-September ) is projected at 24.1 million tonnes (mt), up 8.5% from 22.2 mt estimated for the ongoing 2009-10 season.

    .

    Above figures were put forth by the International Cotton Advisory Committee (ICAC).

    .

    According to ICAC, cotton production in China is likely to surge by a million tonne to 7.7 million tonne, while in the US it may climb by one tenth to 3 million tonne.

    .

    However in India, production estimates are not changed much from 2009-10 season, it said.

    .

    ICAC had earlier said that India is estimated to harvest 5.3 mt of fibre in this season.

    Currently, harvesting is in progress across the country.

    .

    馃檪

    .

    In Other major Commodities Updates we can read about the news of fertiliser ministry urging the finance ministry to release the due subsidy payments and the decline of the natural rubber production rate, last year.

    .

    馃檪

    Fertiliser ministry too seeks subsidy payments:

    .

    The fertilisers ministry has urged the finance ministry to urgently resolve the liquidity problems faced by the country鈥檚 fertiliser industry following no payment of subsidy dues by the government since October 2009.

    .

    The demand for subsidy payments comes even as the government is trying to resolve the issue of subsidy to petroleum companies.

    .

    Industry estimates are that subsidy /concession for the October-March 2010 period will be around Rs 30,000 crore plus, bringing up the total subsidy for the fiscal to well over Rs 70,000 crore.

    .

    The centre has allocated only Rs 49,980.25 crore towards fertiliser subsidy for 2009-10 (BE), including carryovers from 2008-09.

    .

    The industry has argued that non-import of urgently needed raw materials and inputs may be jeopardized if the matter of the subsidies is not tackled on priority.

    .

    Making matters worse, according to procedure, the industry cannot expect any further payment until the third supplementary to the Budget due only in end March.

    .

    馃檪

    .

    Rubber Output declines on dry weather:

    .

    Natural rubber production in India, the world鈥檚 fourth-biggest producer, dropped 7.3 per cent last year after dry weather lowered yields in the main growing region, the state-owned Rubber Board said.

    .

    The driest monsoon since 1972 lowered latex yield in rubber plantation in the southern Indian state of Kerala, Chandran said.

    .

    Production also dropped because of聽 intense harvesting and ageing plantations,聽 Rubber Board Chairman Sajen Peter said on November 4.

    .

    Stockpiles jumped 26 per cent to 261,400 tonnes at the end of December after exports last year slumped to 14,752 tonnes from 77,004 tons in 2008.

    .

    馃檪

    .

    Note : For More Latest Industry, Stock Market and Economy News and Updates, please Click Here

    Cardamom exports may touch 1.5k tonne mark

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

    .

    Cardamom exports may touch 1.5k tonne mark

    .

    Cardamom exports may touch 1.5k tonne mark

    .

    With exports racing towards聽 a new high and the domestic demand聽 remaining strong, the average cardamom prices have surpassed the Rs. 1,000 per kg mark for the first time.

    .

    The cardamom exports聽 for November 2009 stood at 275 tonne, taking the total exports in the april November period to 895 tonne compared with 370 tonnes聽 in the same period of the previous year.

    .

    In 2008-09, the cardamom export was 750 tonne.

    With another four months to go聽 the growers and traders feel the export could register a new record this year.聽 That is something in the range of 1,500 tonne.

    .

    The harvest period is over and the growers are releasing聽 their stock to take advantage of the high price.

    .

    The upcountry buyers聽 are continuing their聽 purchase fearing a scarcity of the spice聽 in February as the existing stock with the growers could be exhausted.

    .

    The growers are expecting the prices to move further to 1200 per kg in the coming weeks with arrivals thining.

    A lower production in the current year has also aided the rise in prices.

    .

    馃檪

    .

    In Other major Commodities Updates, we have info on the ATMA recommendations to the Govt to suspend the tradings of rubber futures.

    .

    Suspend rubber futures 鈥 ATMA :

    .

    Unusual volatility in natural rubber prices, despite peak production season and record imports, smacked of speculative聽 manipulation in the commodity.

    .

    This view has been put forth by the association of automotive tyres manufacturers聽 association (ATMA).

    .

    ATMA has therefore, called for a suspension of futures trading in rubber in the wake of the聽 unusual volatility in natural rubber prices.

    .

    “As immediate and direct fallout of heavy speculative activity in natural rubber futures trading, the physical market for rubber is being unduly affected”.

    .

    R Singhania, chairman of the ATMA has said so in a note sent to commerce and industry minister Anand Sharma and agriculture minister Sharad pawar.

    .

    馃檪

    .

    Note : For More Latest Industry, Stock Market and Economy News and Updates, please Click Here