Govt may up soybean 2018-19 MSP by 340 rupees to 3,390 rupee/100 kg
Ram Gopal Yadav (7 years ago)

The government is likely to fix the minimum support price for 2018-19 kharif soybean at around 3,390 rupees per 100 kg. Last year, the government had set the support price at 3,050 rupees per 100 kg. The recommended price is in line with the Centre’s promise of keeping the support price of crops at 1.5 times the cost of production. In October, the government had announced the minimum support price for most rabi crops at over one and a half times the cost involved. The finance minister had said the government will extend this formula to all other crops.For 2017-18 (Jul-Jun), the government in its third advance estimate has pegged soybean output at 10.9 mln tn.

Gujarat Key meeting on fate of groundnut procured at MSP
Ram Gopal Yadav (7 years ago)

The huge stock of 8.5 lakh tonnes of groundnut procured at the minimum support price (MSP) of Rs 900 per 20kg has become an burden for the state government as it is finding it difficult to sell it to oil millers or in the open market. In addition to this, there is also 1 lakh tonned of last year’s stock carried forward, the quality of which has already deteriorated. In order to resolve issues that have been pending for long, the state government and officials of the nodal agency for groundnut procurement, National Agriculture Cooperative Marketing Federation of India (Nafed), have organized a meeting with members of the Saurashtra Oil Millers Association (SOMA) in Gondal. The main agenda was to convince the oil millers to purchase the huge stock for crushing.

Haryana procurement of mustard seed to continue till May 31
Ram Gopal Yadav (7 years ago)

The procurement of mustard seed under price support scheme of the central government will continue till May 31. Chief Minister Manohar Lal Khattar stated that some farmers were left out from the procurement of mustard seed due to reasons including rain and immaturity of the crop. Hafed has already procured 2.28 lakh metric tonne mustard seed from the 1,14,917 farmers covering 4,100 villages of the state. The left out farmers will get benefit from this extension in the procurement. Therefore, in the interest of the farmers the state government has decided to procure mustard seed from all left out farmers who could not sell their mustard crop between March 15 to April 1 due to these reasons.

Centre may soon extend deadline for tur buys in Maharashtra
Ram Gopal Yadav (7 years ago)

The Centre is likely to soon allow Maharashtra to resume tur procurement under the price support scheme beyond the deadline of May 15. The state discussed the issue with Minister of Agriculture and Farmers Welfare, Radha Mohan Singh, with senior officials of the agriculture department and managing director of National Agricultural Cooperative Marketing Federation of India Ltd

Madhya Pradesh govt buys 1.12 mln tn rabi pulses at MSP
Ram Gopal Yadav (7 years ago)

The Madhya Pradesh government has procured about 1.12 mln tn of pulses harvested in the rabi season at minimum support prices as of Thursday to support domestic prices. The state-run agencies have bought 979,943 tn of chana and 128,659 tn masur as of Thursday from around 600 procurement centres in 10 districts.

Canada agency sees ’17-18 avg masur price dn on lower India imports
Ram Gopal Yadav (7 years ago)

Canada’s farm agency has lowered its forecast for the average price of masur or lentils for 2017-18 (Aug-Jul) because of a fall in demand of the pulse from key consuming countries and higher carry-over stocks. The May report of Agriculture and Agri-Food of Canada sees average prices of masur declining to $470-$500 per tn from $480-$500 per tn seen in April. Carry-over stocks in 2017-18 are estimated to rise to 900,000 tn from 315,000 tn in 2016-17. Prices of the masur are also seen declining in 2018-19 to $420-$450 per tn despite a lower output forecast. The average price of Canadian chana is also forecast to decline to $1,030-$1,060 per tn in 2017-18 from $1,070-$1,100 per tn forecast in April. Average prices are expected to decline due to forecast of higher acreage and production in 2018-19. However, pea prices are estimated to remain unchanged at $240-$270 per tn in 2017-18 as against the April forecast. However, average prices are estimated to fall in 2018-19 to $220-$250 per tn.

Centre-South Brazil May 1-15 sugar output 1.91 mln tn, down 10% YoY
Ram Gopal Yadav (7 years ago)

Mills in Brazil’s Centre-South region produced 1.91 mln tn of sugar during the first fortnight of May, down 9.9% from 2.12 mln tn in the year-ago period, the country’s sugarcane industry association. Mills in the region, which accounts for more than 90% of the country’s total sugar output, crushed 42.64 mln tn of sugarcane during May 1-15, up 10.6% on year. Production in the region during the first fortnight of May was lower, despite the rise in crushing, because mills diverted more cane towards ethanol, prices of which are more attractive than sugar. Of the total cane crushed so far, only around 35.2% was used for sugar production, while the remaining was used to make ethanol.

Ramganj coriander down on cheap imports, low demand
Ram Gopal Yadav (7 years ago)

Prices of coriander fell in Ramganj, Rajasthan, today, as cheaper imports continued to weigh on domestic demand for the spice. In Ramganj, the badami variety was sold at 5,200 rupees per 100 kg and the eagle variety at 5,400 rupees per 100 kg, both down 50 rupees.