India, the world’s largest rice exporter, is expected to witness a decline in rice production for the first time in eight years during the 2023-24 crop year. This development comes amidst concerns over below-average rainfall impacting agricultural output. The Indian government, through the Ministry of Agriculture and Farmers Welfare, revealed that rice production is projected […]
The government is concerned about reduced rabi crop sowing potentially leading to heightened inflation prior to the 2024 general elections, especially with significant price hikes in cereals and pulses. As the rabi sowing nears completion, data from the agriculture ministry indicates a decrease in the area under wheat by 4 per cent, rice by 2 […]
In a proactive measure to enhance the availability of essential commodities in the open market and mitigate inflationary trends, the Food Corporation of India (FCI) has successfully conducted 25 e-auctions, resulting in the sale of 48.12 Lakh Metric Tons (LMT) of wheat under the Open Market Sale Scheme (Domestic). According to a press release by […]
As a part of Government of India initiative for market intervention to control the retail price of rice, wheat and atta, weekly e auctions of both wheat and rice are organized. The 21th e-auction was held wherein 3 LMT wheat and 1.79 LMT rice was offered under Open Market Sale Scheme (Domestic) and 2.84 LMT wheat along […]
Nestle India on Thursday reported a 36 per cent increase in consolidated net profit to Rs 908 crore for the September quarter of the financial year 2024 (FY24) as compared to Rs 668.3 crore a year ago. The total revenue of the company stood at Rs 5,036 crore, climbing 9.6 per cent from Rs 4,591 […]
India raised the price at which it buys locally produced new-season wheat by Rs 150 or 7 per cent to encourage farmers to expand the growing area as New Delhi tries to increase production. India, the world’s second-biggest wheat producer, sets a price each year to protect domestic farmers from distress sales and stock grain […]
The Union Cabinet, chaired by Prime Minister Narendra Modi, on Wednesday approved an increase in the Minimum Support Prices (MSP) for all mandated Rabi crops for the 2024-25 marketing season. The government through its agencies procures crops from farmers at the support price. The highest increase in MSP has been approved for lentil (masur dal) […]
The Food and Agriculture Organization of the United Nations (FAO) raised its forecast for global cereal production in 2023 to 2 819 million tonnes, now 0.9 percent higher than the previous year. The higher forecast is almost entirely based on recent and more positive yield estimates for the Russian Federation and Ukraine compared to earlier […]
The government has reduced the permissible wheat stock for traders, wholesalers and large-scale retailers to 2,000 tonnes from 3,000 tonnes, with immediate effect. The move aims to curb the rise in prices, according to Sanjeev Chopra, Secretary of Food and Public Distribution. However, Processors can maintain the same quantity of stock as earlier. Chopra emphasised […]
The central government has sold 1.66 lakh metric tonne (LMT) wheat and 0.17 LMT rice through the Open Market Sale Scheme (D) in an e-auction held on 06 September 2023. The Ministry of Consumer Affairs, Food and Public Distribution in a statement said that a quantity of 2.0 LMT wheat from 500 depots and 4.89 […]
