-Down to Earth India faces a surplus of foodgrains. Is exporting a good option? With India's grain mountain set to implode, the government is desperate to push the exports of rice and wheat. However, a global glut and the resulting depression of prices are dimming the prospects of foodgrain exports. According to the Food Corporation of India (FCI), the nodal agency for grain trade in the country, India is sitting on 34 million...
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Pakistan to Seek Thailand, Vietnam Support Against India’s Food Security Law at WTO
-Oryza.com Pakistan will not allow India to get an approval of World Trade Organization (WTO) members for its Food Security Law which the Pakistan government claims is market distorting. According to local sources, the Pakistan government is seeking support of other rice exporters, Thailand and Vietnam, to prevent India from getting a legal subsidy on rice exports in the next WTO meeting to be held in December 2013. According to local sources,...
More »Food Ministry for cut in wheat export floor price to $260/tonne
-PTI NEW DELHI: The Food Ministry has moved a Cabinet note proposing a reduction in the floor price of wheat by USD 40 at USD 260 a tonne to make exports viable and clear surplus stocks. The revision in reserve price has been proposed as global buyers quoted USD 260-267 a tonne for recent bids, as against the benchmark price of USD 300 a tonne set for export of two million tonnes...
More »Food Corporation of India is prepared to implement Food Security Law: KV Thomas -Sutanuka Ghosal
-The Economic Times KOLKATA: In the wake of the just-enacted National Food Security Act, the Union Minister for Food and Public Distribution, Prof KV Thomas recently reviewed the operations of Food Corporation of India (FCI), especially from the point of view of its preparedness for implementing the law. Expressing satisfaction after the review, Prof. Thomas said the FCI had been undertaking various steps in the last one year towards increasing the storage...
More »FCI to sell 2 million tonnes of wheat in international market -Madhvi Sally
-The Economic Times NEW DELHI: The Food Corporation of India (FCI) will export two million tonnes of wheat in the coming months to earn valuable foreign exchange of nearly $ 600 million for the country. The proposal to export the wheat from the stocks of the central pool of FCI was approved by the Cabinet Committee on Economic Affairs (CCEA) last month. A sub-committee, headed by FCI Chairman and MD C Viswanath,...
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