Comparing October to September of 2022–2023 to the same time last year, rice procurement climbed by 12.2% to 218.73 lakh tonnes (lt). Thanks to the 15.91 lt acquired in Chhattisgarh with purchases starting a month earlier than the initial schedule, purchases in November were 11.73 lt greater than the level of the previous year. 121.91…
The commodities transaction tax (CTT) has been asked to be totally eliminated or reduced in the upcoming budget, according to the Commodity Participants Association of India (CPAI). The CPAI has additionally asked the Finance Minister to put this recommendation into effect for at least two years. The sector (the commodities derivatives market), which has zero…
High domestic pricing and restored soil moisture are projected to help farmers surpass last year’s planting in 2023, but an extreme heat wave this year may reduce production. Increased wheat production might persuade India, the second-largest producer of grain in the world, to reconsider easing a May export ban. While wheat production has nearly plateaued…
Early Asian trade on Thursday saw a sharp increase in oil prices, driven by signals of tighter supply and hope for a resurgence in Chinese demand. Brent oil prices were up 5 cents, or 0.06%, to $87.02 per barrel, while U.S. West Texas Intermediate crude futures were up 16 cents, or 0.2%, to $80.71. A…
The G7 price cap and EU penalties are drawing nearer, but S&P Global Commodity Insights reported on Tuesday that there are rising indications that the curb poses a “minimal threat” to Russian oil revenues because refiners in China, India, and Turkey are anticipated to take in more of the oil. S&P Global Commodity Insights reported…
Despite the Center’s restrictions on exports of non-basmati white rice and the imposition of a 20% export levy, Indian rice remains competitive on the international market. Although prices have increased by over $30 a tonne over the last two months, Indian cereal remains competitive.”The worldwide market for rice continues to be quite competitive for Indian…
The farmer in Madhya Pradesh harvested a soyabean crop from his 10 acres of land in this Kharif season that amounted to about 55 quintals. Nearly 20 quintals, at an average cost of Rs 5,400 each, have been sold by him thus far in the open market. Selling oilseeds earned him close to Rs 6,500…
Prices for groundnuts have risen to as much as Rs 2000 per 20 kg in some mandis in Gujarat due to processors and oil millers anticipating a smaller Kharif harvest of 2.5 million tonnes in the current season as opposed to over 3.5 million tonnes in the previous season. Farmers in Jamnagar district’s Hapa mandi…
In the months of April through October of this fiscal year, India’s imports of coking coal increased 6% year over year to 28 million tonnes (mt) from 26.5 mt the previous year. During the seven-month period, supplies from Russia increased by almost 100% to 1.1 mt, according to statistics from trade sources and the Ministry…
A dedicated 100-acre market area with top-notch infrastructure, banking, storage, processing, and packaging services all under one roof, alternatives for offline and online trading, legalization of field trade, and farmer ownership. These are a few of the intended characteristics of the private agriculture market that Sahyadri Farmer Producer Company is launching (FPC). The FPC has…
