1.   

Basmati to fetch less, prices 15-20% lower this year

Basmati growers in Punjab and Haryana are likely to earn less from their produce this season, with rates for the aromatic rice variety ruling 15 to 20 per cent lower than last season on account of oversupply of the crop. Finding "no scope" for any increase in prices of premium varieties of paddy in coming months, Punjab Agricultural University (PAU) has even asked farmers to sell their basmati crop immediately after harvesting. "Farmers will be the main sufferers this season as prices of .....

2.   

Burma may import onions to prevent prices from rising

Following heavy flooding in the Pakokku Region of Burma, onions may be imported to prevent prices from rising, says the Myanmar Onion Producers Association. Starting in late October, heavy rain hit Pakokku District, a key onion producing area in Magway Region and onion fields were spoiled. Onion prices increased from 700 kyat (about US$ 0.90) per viss (1 viss = 1.6 kg) to 1,200 kyat .....

3.   

Food ministry against further cut in Onion price

Says no to more sugar exports also as the move will spur domestic prices. The Union ministry of food and consumer affairs is against reducing the minimum export price (MEP) for onions and allowing more export of sugar, at this point of time. In a communication to related ministries before a proposed meeting of a group of ministers on these subjects, the ministry has said a reduction in MEP will mean a rise in the prices of .....

4.   

FCI's open sale of wheat may take time to gather pace

Wheat sale under the open market sale scheme (OMSS) by the Food Corporation of India (FCI) is likely to take time to pick up as arrivals in markets around growing centres continue. “Stocks are still coming to markets. Once they decline, millers and traders could look to the FCI sale, especially in New Delhi,” said Mr Raj Narayan Gupta, a miller. However, millers could be forced to rush a little early to the FCI for wheat purchase as traders in Haryana and Punjab are reportedly holding back stocks after .....