-The Business Standard India remained firm on its stance as World Trade Organization (WTO) negotiations reached the third day in Bali. As Commerce and Industry Minister Anand Sharma ruled out any possibility of a compromise, whispers were already being heard of a possible collapse of the talks. Edited excerpts from the minister's press conference, which invited admiration as well as sharp criticism: * India has exceeded the de minimis requirements of the...
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Grain glut -Jyotika Sood
-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...
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 »India set for bumper winter crops in wake of monsoon rains
-Reuters NEW DELHI/MUMBAI: India looks set for bumper harvests of winter crops such as wheat, chickpeas and rapeseed in the wake of a strong monsoon that has left the soil moist and topped up reservoirs. The crops will follow bountiful summer harvests of rice and soybeans due to the rains, with New Delhi looking to boost agricultural growth to cool double-digit food inflation and revive a slowing economy as manufacturing struggles. With next...
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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