Commodities

Wheat

Indian govt agencies to procure 30 million tonne of wheat this season

Our bureau New Delhi, Feb 15: The food ministry has set a 30 million tonne target for wheat procurement for rabi marketing season (RMS) for 2016 – 17, which is scheduled to begin on April 1. After a meeting with officials from the key wheat producing states including Punjab, Haryana,[…]

Govt to sell excess rice stocks in open market

Our bureau New Delhi, Feb 7: For the first time in many years, the Indian government has decided to sell surplus rice stocks in the open market to bulk buyers and traders through e-auction. Sources said that around three million tonne of rice would be offered under Open Market Sale[…]

Indian government approves moderate increase in minimum support price for winter crops

Our bureau New Delhi, Oct 30: The government has effected a moderate Rs 50 per quintal increase in the minimum support price (MSP) for the wheat crop to be sent to markets from April 1, 2015. The MSP for wheat for rabi or winter season has been fixed at Rs[…]

India’s rice production to dip this year:USDA

New Delhi,Oct 25: India’s rice production in the current year is expected to slip below the last year’s record 106.54 million tonnes due to deficient rains, according to the US Department of Agriculture (USDA). The country’s overall rice output is estimated to be 100 million tonnes in the ongoing 2014-15 marketing year (October- September),[…]

NCDEX launches forward contract for farm goods

Our bureau New Delhi, Oct 6: For first time in the country, leading commodity exchange NCDEX has launched a pan-India forward contract on its electronic platform for facilitating trade between Farmer Producer Organisations (FPOs) and bulk buyers of agricultural commodities. Titled as ‘Agrim Sauda‘, the contract would allow farmers and[…]

Indian govt set a higher wheat production target for winter season

Our bureau New Delhi, Sept 18: The government has set up a higher wheat production target of 94 million tonne for the forthcoming rabi or winter season for utilising available soil moisture due to late arrival of monsoon rains across key growing areas. In 2013-14, the country had set a[…]

CACP recommends a moderate hike in wheat Minimum Support Prce for 2015-16 season

Our bureau New Delhi, Sept 7: With ample wheat stocks held with the state-owned agencies such as Food Corporation of India (FCI), the Commission for Agricultural Costs and Prices (CACP), has recommended a marginal increase of Rs 50 per quintal on Minimum Support Price (MSP) for the next rabi (winter)[…]

Leading commodity exchange – MCX allowed to discontinue potato futures

Our bureau New Delhi, Aug 22: Leading commodity bourse  – MCX has been allowed to discontinue potato futures contracts expiring in the current and next month with immediate effect, according to the regulator Forward Markets Commission (FMC). Earlier this month, MCX had sought the regulator’s permission to discontinue potato futures on its platform. In[…]

India targets a conservative 261 mt of foodgrain output 2014-15, in anticipation of monsoon deficit

Our bureau New Delhi, July 25: In anticipation of a deficit monsoon rains, the Indian government has fixed a conservative estimate of total foodgrain production fr the year 2014-15. According to official estimates, food grain production is fixed at 261 million tonnes for 2014-15, marginally higher than 259 million tonnes[…]

With newer varieties and improvement in yield, packaging and marketing, Basmati—long hailed as the ‘king of rice’—is spreading a sweet aroma worldwide

  Sandip Das WALK INTO any supermarket today and the most eye catching items will be in the section selling packaged rice. Rice, that humble century-old staple of the Indian diet, has emerged from its traditional image—grains in an open gunny bag—to a slick new avatar. Today, rice, and basmati[…]

Indian govt hikes minimum support price for farmers for kharif or summer crop

Our bureau New Delhi, June 25: The Indian government on Wednesday announced Rs 50 per quintal increase in the minimum support price (MSP) of paddy to Rs 1,360 to encourage farmers to cultivate rice, but said that the decision would not have an impact on inflation. Along with paddy, the[…]