Govt mulls 15-18 rupees per kg subsidy on pulses sold to 3 states.
Ram Gopal Yadav (8 years ago)

The government is likely to give a subsidy of 15-18 rupees per kg on pulses to be sold from its buffer stock to Gujarat, Karnataka and Tamil Nadu. The Committee of Secretaries in a meeting have decided on the subsidy of 15-18 rupees. The states had recommended a wide range of subsidy starting from 12 rupees and Karnataka had requested the highest quantum of 18 rupees. The government is likely to offload 700,000 metric tonne pulses from its buffer stock in the coming days. Of this, 350,000 metric tonne be sold to state governments and the rest is expected to be sold through open market sales scheme. Out of the 1.8 million metric tonne buffer stock of pulses, government sell 350,000 metric tonne to these three (Gujarat, Karnataka, Tamil Nadu) states and (another) around 350,000 metric tonne through open market sales scheme.

Clear all dues of sugarcane farmers, Rayat Kranti Sanghatana (Kolhapur).
Ram Gopal Yadav (8 years ago)

Rayat Kranti Sanghatana (Kolhapur), the newly formed organization of farmers belonging to minister of state for agriculture Sadabhau Khot has demanded that sugar factories should pay all pending dues of last year’s sugarcane crushing season. The organization has threatened to launch an agitation and has stated that farmers not allow the factories to start this year’s crushing season if they fail to clear the dues. After declaring the rate of sugarcane per metric tonne, the sugar factories pay farmers their dues in three installments. The first installment which is more than 80% of the total amount after the crushing season, while the other two installments are delayed. Warned the factories to ensure that they pay all the remaining dues before starting this year crushing. Not allow the factories to start crushing this year if they do not make the payment.

Sugar down in north India, Kolhapur; Mumbai unchanged.
Ram Gopal Yadav (8 years ago)

Prices of sugar fell in the key wholesale markets of north India and in Kolhapur due to weak demand from bulk buyers and selling by mills. Traders are eager to sell sugar ahead of Diwali as prices are expected to fall after the festival. The medium-term outlook for sugar is seen bearish as crushing start soon. Traders eager to sell sugar ahead of Diwali as prices expected to fall after festival.

Indore soybean up on value buying, festival demand.
Ram Gopal Yadav (8 years ago)

Prices of soybean rose in the benchmark market of Indore due to value buying and a rise in demand from oilseed crushers ahead of Diwali. Futures contracts of soybean on the NCDEX also rose. The most active November contract traded at 2,923 rupees per 100 kg, up 0.4% from the previous close.

India Soybean gains tracking CBOT; CPO up on spot buying.
Ram Gopal Yadav (8 years ago)

Futures contracts of the key components of the edible oil basket traded higher on domestic exchanges tailing gains in global markets. Prices had fallen after the US Department of Agriculture said 61% of the country’s soybean crop was in good-to-excellent condition compared with 60% a week ago.

Maharashtra soyabean procurement under MSP likely from October 25.
Ram Gopal Yadav (8 years ago)

The State Marketing Federation of Maharashtra has sent a proposal to Nafed regarding opening 88 procurement centres in 23 districts of the state for the purchase of soybean under MSP. Soybean is expected to be procured at these centres from October 25. Moong and urad be procured under MSP from October 18. Registrations for cotton procurement commence from October 15. Around 10 lakh quintals of soybean is expected to be purchased from farmers at these centres.