An early start to wheat procurement has helped the Indian government to purchase 31 per cent of the arrival until March 31. In comparison, the purchase was less than 13 per cent of the arrivals in the year-ago period. Wheat arrivals were reported at 8.26 lakh tonnes (lt) in March this year, only 3 per cent more than the year-ago period, the higher procurement indicates that the message to the private trade has yielded the desired impact.
India is cautious about signing free trade agreements (FTAs) as it does not want subsidised goods dumped in the country, External Affairs Minister S Jaishankar said Monday at the ‘Bharat Economic Rising’ — organised by the South Gujarat Chamber of Commerce and Industry (SGCCI) — in Surat.
The growth rate of agricultural, forestry and fishery production value in the first quarter of 2024 is estimated to reach 2.9 – 3% compared to the same period in 2023. Of which, crop production increases by 2.02%; livestock increased by 4.34%, aquaculture increased by 3.46%; Forestry increased by 4.11%.
India is looking to increase the export of agricultural value added products by forging partnerships with retail chains and supermarkets of countries like the United Arab Emirates. The commerce department has identified 12 value added food items, including jams, jellies and marmalades, alcoholic beverages, fruit pulp products, dehydrated vegetables and ready to eat products for the purpose.
India’s imports from China declined 3% in calendar year 2023 over 2022, the commerce and industry ministry said Monday, adding that exports to both China and the EU rose 7.1% and 2.1%, respectively during the period.
In the current year, Government has directed NCCF and NAFED to initiate procurement of 5 lakh tonnes of onion for the buffer requirement directly from the farmers as Rabi-2024, harvest started arriving in the market. For the procurement, NAFED and NCCF are to pre-register the onion farmers to ensure that payments to the farmers are transferred to their bank accounts through Direct Benefit Transfer.
