Mills body slams sugar stockholding limits on millers, traders.
Ram Gopal Yadav (8 years ago)

The National Federation of Cooperative Sugar Factories Ltd has slammed the government efforts to rein in retail prices by imposing stockholding limits. Sugar industry is the only industry where stock limits are imposed on producers. These controls hurt the health and all-round development of the industry. There was no uniform policy on cane price as, unlike other states, the fair and remunerative price in Gujarat is paid in three installments, while Uttar Pradesh has its own mechanism of state advised price.

Indian Sugar Exim Corp to launch electronic spot trading in 3 months.
Ram Gopal Yadav (8 years ago)

Indian Sugar Exim Corp plans to launch a national spot electronic platform for trading in sugar. The platform available to traders, millers, and whoever is interested in buying or selling sugar. Going forward, the platform may integrate with futures and the export-import market. The exchange should provide a transparent platform for spot price discovery.

Food minister says to take decision on sugar import soon.
Ram Gopal Yadav (8 years ago)

The government is likely to soon take a decision on import of sugar to augment domestic supplies, as stocks are expected to fall to critically low levels. Government soon take a decision on the need to import sugar, Food Minister Ram Vilas Paswan posted on microblogging site Twitter. The government had taken an in-principle call to allow import of duty-free sugar, and modalities of import would be finalized soon. The government may be looking at another round of duty-free import also because it doesn’t want prices to rise ahead of the festival season.

Farmers across India are sowing more cotton, less oilseeds and pulses.
Ram Gopal Yadav (8 years ago)

As September comes around with the promise of the first harvests in a few weeks, data released by the Ministry of Agriculture on Friday indicate that the overall kharif season sowing acreage as of the end of August is 0.5% less than the previous year. This year, farmers across India have moved decisively away from what were once profit-making crops such as oilseeds as well as jute, whose profit margins continue to remain insignificant. The equilibrium in sowing acreage comes almost entirely from an 18% increase in cotton acreage and 9% increase in sugarcane acreage. Farmers across the country have chosen to invest more in cotton this year. The highest increase comes from Telangana, which has sown 18.24 lakh hectares of cotton against last year’s 12.5 lakh hectares, representing a 5% increase.

Deadline for tariff quota raw sugar export to US extended to Oct 31.
Ram Gopal Yadav (8 years ago)

The government has extended the deadline for export of raw sugar to the US under the tariff rate quota by a month to Oct 31. The US allows duty-free import of 8,424 tonne raw sugar from India under the quota every year. Sugar exports from India through the normal channel attract a duty of 20%. There have been no raw sugar exports so far under the preferential tariff quota for 2016-17 (Oct-Sep).

Tur down in Kalaburagi as govt relaxes import norms.
Ram Gopal Yadav (8 years ago)

Prices of tur in Kalaburagi in Karnataka were down as the government relaxed norms for import of the commodity from Myanmar. Importers of tur, who had signed import contracts prior to a quantitative cap on overseas purchases on Aug 5, can avail relaxation on the import cap if they register those contracts with the government.

NAFED buys 60,259 tonne chana of 2016-17 crop from 4 states.
Ram Gopal Yadav (8 years ago)

As of Wednesday, the National Agricultural Cooperative Marketing Federation of India had procured 60,259 tonne of chana from the 2016-17 (Jul-Jun) rabi crop from four states. The slowdown in the pace of procurement was due to rising prices in spot markets ahead of festivals.