Posts Tagged ‘rice output’

Govt Decides Against Rice Imports

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

🙂

Govt Decides Against Rice Imports

Govt decides against rice imports:

In a calculated move to signal categorically to the world market that India was not in a desperate situation with respect to rice, the government said on Friday that it will not import rice for now.

The immediate implication of this move is that retail prices of rice, up 15 per cent over last year, will remain firm at least until early next year.

Rice output is estimated to have dropped 15 million tonnes due to poor monsoons this kharif.

The government has, over the last two days, put in place strictures that will force traders to report purchases of more than 10,000 tonnes of rice in a bid to check prices.

Punjab has also imposed stock holding limits on traders and millers for both rice and pulses.

🙂

In Other major Commodities Updates we can see how Government has bowed down to demands of Farmers after their mass protest in capital this week.

🙂

Government to amend new sugarcane price rule:

The government on Friday said it would amend a new sugarcane pricing rule, bowing to protests held in the capital by farmers demanding higher prices for their produce.

The government would delete the contentious part of the new cane pricing rule, Railways Minister Mamata Banerjee told reporters after a meeting of senior ministers.

Cane farmers believe the new cane price rule, which puts the onus on state governments if they decide to raise the cane floor rates fixed by the federal government, will curtail their bargaining power.

Earlier, Farmers from Uttar Pradesh (UP) state in northern India, which produces almost half of the country’s cane, have been on warpath for about three weeks to press for higher prices, forcing Prime Minister Manmohan Singh to consider changes in fixing cane prices.

🙂

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

No Global food crisis even after India’s rice export ban :)

No Global food crisis even after India’s rice export ban :)

No Global food crisis even after India’s rice export ban 🙂

No global food crisis is on the cards on account of India’s rice export ban and possible high imports.

A reduction in exports from India and possible imports to the tune of two million tonnes plus is unlikely to spark another global food crisis.

The UN Food and Agriculture Organization (FAO) has said that drought in India may slash rice output in the world’s second-largest grower by about 18% this year, cutting global supplies available for importers.

India’s absence in the export market may curb supplies at a time when global stockpiles are forecast by the FAO to drop 3 % to 117.4 million MT by the end of the 2009-2010 season.

In Other major Agri Updates we can see that Deccan floods have made spices too hot to handle.

Turmeric prices have more than doubled from Rs 3,500 per quintal levels in January, causing NCDEX to impose special margin on long positions.


High prices have also led to an increase in acreage of the crop and production is expected to be over 55 lakh bags in 2010, against 35-40 lakh bags this year.

Among other spices, jeera is likely to move up in the medium term on back of good export demand and a bad crop in Syria and Turkey.

Indian Jeera is also quoting a low price in international markets.

Even pepper is expected to remain firm due to low stocks in main producing countries like India, Vietnam and Indonesia and slow arrivals from Brazil.

🙂

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

No global food crisis is on the cards on account of India’s rice export ban and possible high imports.

A reduction in exports from India and possible imports to the tune of two million tonnes plus is unlikely to spark another global food crisis.

The UN Food and Agriculture Organization (FAO) has said that drought in India may slash rice output in the world’s second-largest grower by about 18% this year,cutting global supplies available for importers.

India’s absence in the export market may curb supplies at a time when global stockpiles are forecast by the FAO to drop 3 % to 117.4 million MT by the end of the 2009-2010 season.

In Other major Agri Updates we can see that Deccan floods have made spices too hot to handle.

Turmeric prices have more than doubled from Rs 3,500 per quintal levels in January, causing NCDEX to impose special margin on long positions.

High prices have also led to an increase in acreage of the crop and production is expected to be over 55 lakh bags in 2010, against 35-40 lakh bags this year.

Among other spices, jeera is likely to move up in the medium term on back of good export demand and a bad crop in Syria and Turkey.

Indian Jeera is also quoting a low price in international markets.

Even pepper is expected to remain firm due to low stocks in main producing countries like India, Vietnam and Indonesia and slow arrivals from Brazil.

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