-The Hindu Business Line APEDA in touch with countries, exporters to ship out requirements, says its chairman With wheat prices soaring to a record high of $13.50 a bushel (nearly $500 a tonne) on the Chicago Board of Trade on Friday, India is reaching out to exporters and countries that are looking for wheat supplies. In addition, it is also looking to supply other agricultural commodities such as corn (maize) and rice, which...
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First rice, now wheat: India rides on global grain trade bandwagon -Harish Damodaran
-The Indian Express The US Department of Agriculture (USDA) on Tuesday upped its forecast of Indian wheat exports for 2020-21 (July-June) to 1.8 million tonnes (mt), as against its earlier estimate of one mt. That would be the highest ever in the last six years After rice, India is set to turn a major exporter of wheat as well – thanks to surging international prices from Chinese stockpiling and ultra-low interest rate...
More »Demonetisation apart, cheaper imports too hit the farm sector -Tejinder Narang
-The Financial Express The current agitation of farmers on cereal, oilseeds and vegetables has attracted a lot of analysis with regards to the causes. Many such analyses have converged on low hikes in MSP in the last three-four years as the major cause, and the general public also believes so. Stocking limits, poor warehousing facilities, export bans, lack of a properly developed food processing industry and free trade in commodity exchanges...
More »Is agriculture a business? -Harish Damodaran
-The Indian Express Yes, except that farmers suffer rules other businessmen never encounter Agriculture is said to be India’s largest private-sector enterprise, engaging nearly 119 million farmers (“cultivators”) and another 144 million landless labourers, as per the 2011 Census. It is even considered the most respectable business, going by the oft-quoted slogan “uttam kheti, madhyam vyapar, kanishtha naukri (supreme is farming, mediocre is trade and most lowly is service)”. But the exalted...
More »Your food is not cheaper yet, but wait a while -Harish Damodaran
-The Indian Express * Have global agri-commodity prices fallen? By how much? They have. The Food and Agricultural Organisation's latest Food Price Index (base: 2002-04 = 100) of 192.3 for October is down 6.9 per cent compared to a year ago, and 19.1% below the all-time high of 237.7 reached in February 2011. Prices of commodities such as corn, wheat, soybean, sugar and palm oil traded in international futures exchanges are today...
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