Haryana has so far procured 5 lakh quintals of millets and 95,000 tonnes of paddy from farmers till September 28, said the state government Friday.

 

'Haryana is experiencing a seamless and efficient procurement process for millet and paddy, ensuring the economic well-being of its farmers. As of now, Haryana State Cooperative Supply and Marketing Federation Limited (HAFED) has procured an impressive 5 lakh quintals of millet, with prompt payments directly into farmers bank accounts via RTGS system,' a government spokesperson said.

 

Chief Minister Manohar Lal Khattar has earlier issued directives to HAFED, a cooperative federation, to engage in commercial millet procurement. He has also directed to ensure that the payment of crop purchase should be credited directly into farmers’ bank accounts within 72 hours.

 

The millet procurement was originally scheduled to commence on October 1. However, taking into accpunt the early arrival of millet and the need to stabilize the market, HAFED initiated commercial millet procurement on September 23, the spokesperson said.

 

'HAFED is adhering to the Fair Average Quality (FAQ) specifications mandated by the central government. To date, HAFED has procured 5 lakh quintals of millet from over 16,000 farmers residing in 1,600 villages across 93 mandis or purchase centres in 17 districts of the state', the spokesperson said.

 

HAFED also procures paddy at the Minimum Support Price (MSP) on behalf of the Food Corporation of India, with paddy procurement commencing on September 25. By September 28, HAFED had procured 95,000 MT of paddy from 9000 farmers out of a total procurement target of 2.80 lakh MT, the official stated.

 

HAFED has emerged as the largest state procurement agency in Haryana, actively procuring wheat, paddy, mustard, millet, sunflower, gram, and moong from farmers.

 

Farmers are urged to bring their millet and paddy produce to the mandis after proper cleaning and in compliance with the moisture limits specified by the central government to ensure a seamless procurement process, the spokesperson said.

The European Commission on Thursday cut its estimates of this year's wheat and maize harvests in the European Union, but revised up its overall supply outlook for the cereals as it increased sharply expected imports.

 

For common wheat, or soft wheat, EU production was estimated at 125.3 million metric tons, down from 126.1 million forecast a month ago and now slightly below last year's crop of 125.7 million.

 

In its supply and demand data, the Commission also lowered its forecast for maize output, to 59.8 million tons from 61.7 million projected a month ago, though it remained well above last year's drought-ravaged harvest of 52.1 million.

 

In imports, projected EU soft wheat imports in the 2023/24 season were increased to 6.5 million tons from 4 million while forecast EU maize imports in 2023/24 were raised 20 million tons from 17 million.

 

The higher import projections led the Commission to increase its outlook for 2023/24 ending stocks in both soft wheat - to 17.8 million tons from 16.3 million last month - and maize - to 17.8 million from 17.3 million.

 

The Commission trimmed its estimate of this year's barley harvest by 200,000 tons to 48.4 million, putting it further below last year's 51.5 million.

 

Among EU countries, the Commission said it had made the biggest month-on-month cuts to estimated cereal production for Spain, with a 16% reduction, followed by Hungary (-5.8%) and Romania (-4.3%).

 

Poland was the only EU state for which a significant upward revision had been made to expected cereal output, with a 5.8% increase since last month, it said.

 

For EU exports, the Commission kept its 2023/24 forecasts unchanged for both soft wheat and barley, at 32 million and 10 million tons respectively.

 

In oilseeds, estimated production of rapeseed was revised up to 19.6 million tons from 19.1 million previously, now marginally above last year's output.

 

Projected 2023/24 rapeseed imports were kept unchanged at 5.8 million tons.

Union Minister Piyush Goyal on Saturday expressed confidence that by 2047 the country's economy will increase tenfold.

'I am confident that the country's economy will increase tenfold by 2047. India will be free from poverty, will emerge as a big power in the world, and the youth will have a good education, Piyush Goyal said.

 

He further said that every class is on the path of progress today. India made new records in terms of exports.

'The people of MP are going to defeat the corrupt Congress leaders. Under the leadership of PM Modi and Shivraj Singh Chouhan, a new direction has been given to the development of the state,' he said.

 

Earlier today Prime Minister Narendra Modi emphasized making the country a developed nation by 2047.

PM Modi said that the model of a developed country does not mean that grandeur should be seen in Delhi, Mumbai, or Chennai and that the country's villages should be left behind.

 

'We want to take charge of the destiny of 140 crore people and bring about a change in their lives,' the Prime Minister said.

Madhya Pradesh is scheduled to go for the assembly polls later this year. Through the polls, the state will elect legislators from 230 Assembly constituencies.

 

The last Assembly polls in 2018 saw the Congress coming to power, with veteran leader Kamal Nath taking oath as the chief minister.

Nonetheless, a political upheaval rocked the state in 2020, after the then Congressman Jyotiraditya Scindia, along with 22 loyalist MLAs, switched over to the saffron camp.

 

The Congress government fell after being reduced to a minority and the BJP formed the government, with Shivraj Singh Chouhan returning as chief minister.

Haryana Agriculture and Farmers Welfare Minister Jai Prakash Dalal has called upon the state’s farmers to visit the Haryana Agricultural Development Fair, to be held from October 8 to 10, at the Chaudhary Charan Singh Haryana Agricultural University in Hisar.

 

The event will be attended by Governor Bandaru Dattatraya, CM Manohar Lal Khattar, other state ministers and farmers.

 

Dalal expressed his intention to expand the event to a massive scale as that of the Surajkund Fair, and organise it on an annual basis in future. He also invited agricultural universities, scientists and entrepreneurs from other states.

The traders recently requested the ministry to allow more egg import and each trader is seeking permission to import varying quantities of eggs, ranging from a minimum of 10 million to 200 million eggs, a top-ranking official of the ministry told The Business Post.

 

While some traders hope to contribute to the domestic supply, poultry industry experts argue that the country’s annual demand can be met through domestic production.

 

During a recent hearing, local poultry farmers expressed concerns about the potential negative impact of increased egg imports on the domestic industry branding the move as suicidal.

 

They suggested addressing firm-level issues, especially the reduction of raw material costs for feed, rather than relying on imports and called for taking a long-term policy to solve the supply shortage.

 

The government had previously granted permission to ten companies to import up to 100 million eggs to help control local market prices. The egg market had experienced volatility, with prices reaching as high as Tk 15 each. The government subsequently set the price of an egg at Tk 12.

 

In the fiscal year 2021-22, the country’s annual egg production surpassed the set annual target of 22.66 billion pieces, reaching 23.35 billion pieces, although it may fall short of the 23.15 billion egg production target for the last fiscal year due to the closure of some poultry firms, according to the Department of Livestock.

 

Currently, the country’s annual per capita egg consumption stands at 136 pieces, with the Food and Agriculture Organisation (FAO) recommending a minimum of 104 eggs per person annually.

 

Bangladesh produces around 40 million eggs daily, with 9-12 per cent originating from large poultry firms and the remainder from small entrepreneurs in rural areas.

India and Bangladesh have discussed preparations to start talks for a free trade agreement between the two countries to promote economic ties, an official statement said on Sunday. It was discussed during an official-level meeting of the Joint Working Group on Trade (JWG) between India and Bangladesh, which was held last week in Dhaka.

 

The meeting 'discussed a host of bilateral issues such as removal of port restrictions, ground work on commencement of Comprehensive Economic Partnership Agreement (CEPA), harmonization of standards, and mutual recognition of standards, supply of essential commodities to Bangladesh,' the commerce ministry said.

 

CEPA is a kind of free trade agreement, under which two trading partners significantly reduce or eliminate customs duties on the maximum number of goods traded between them. Besides, they also ease norms to promote trade in services and investments.

 

They also deliberated upon issues related to development of road and rail infrastructure, regional connectivity through multi-modal transportation and creation/ strengthening of infrastructure in Land Customs Stations/ Integrated Check Posts, border haats.

 

These meetings are held on an annual basis to discuss key trade related issues and explore opportunities for economic and technical collaboration, promotion, facilitation, expansion and diversification of trade between the two countries.

 

'These meetings play a vital role in quick resolution of bilateral issues by removing trade barriers, simplifying customs procedures, improvement of infrastructure, logistics, and transit facilities to facilitate smoother cross-border trade,' it said.

 

The bilateral trade has dipped to USD 14.2 billion in 2022-23, from USD 18.13 billion in 2021-22.

The Finance Ministry exempted export of Bangalore rose onion from duty with immediate effect, subject to certain conditions, as per a notification issued on Friday.

 

If the exporter provides a certificate from the state horticulture commissioner certifying the item and quantity of Bangalore Rose Onion to be exported, the exemption from export duty on Bangalore Rose Onion may be granted.

 

A 40 per cent duty on export of all varieties of onions was imposed by the government in August. The move was taken to increase domestic availability and check price rise in local market.

 

As on date, the average price of onions in the country stood at Rs 33.53, data from Consumer Affairs Department showed.

 

Beating past records, the Centre has procured 2.50 lakh tons of onion for the buffer in 2022-23. However, despite the ample stock of onions in the country, a high proportion of bad quality onions due to a prolonged period of excessive summer heat this year has made good quality onions expensive.

 

At the same time onion exports jumped 64 per cent in volumes to hit a six year high at 25.25 lakh tonnes during 2022-23.

 

India has said that the export ban on rice is a regulation rather than a restriction and is crucial for securing the food security of 1.4 billion people, according to an official. This was stated by India in response to concerns raised by a group of countries including the US during a meeting of the WTO's Committee on Agriculture in Geneva on September 27.

 

The Geneva-based official said that in the meeting, India reiterated its commitment to ensure food security in importing countries by granting exemptions to those in need upon their governments' requests.

 

The Indian government has already allowed exports of non-basmati rice to Bhutan (79,000 tonnes), UAE (75,000 tonnes), Mauritius (14,000 tonnes) and Singapore (50,000 tonnes) through the National Cooperative Exports Ltd (NCEL).

 

On July 20 this year, India banned exports of non-basmati white rice to boost domestic supply and keep retail prices under check during the upcoming festive season.

 

'The Government of India has the commitment that in case of food insecure, vulnerable countries and neighbouring countries request, it will provide with the required quantity of rice or wheat,' the government official said.

 

India has also argued that, in order to prevent private players from manipulating market conditions, advance notifications were not provided in the WTO.

 

Furthermore, these measures are temporary and are regularly reviewed to allow necessary adjustments based on domestic demand and supply situations.

 

A group of member countries of the World Trade Organisation (WTO) including the US has raised concerns about banning the export of non-basmati white rice by India, saying the decision may impact import-dependent nations, the Geneva-based trade official said.

 

The US has urged India to lift this export ban with immediate effect.

 

These countries have argued that such measures had a detrimental impact on nations which are heavily reliant on imports of these agri commodities, particularly during times of crisis, the official said.

 

The ongoing war between Russia and Ukraine, and this year's El Nino climate conditions are among the factors that have disrupted the foodgrain supply chain.

 

More than a dozen questions were raised by Japan, Australia, Brazil, Canada, the European Union, New Zealand, Switzerland, Thailand, the UK, and the US.

 

'They expressed concerns about the impact of India's export ban on the global food market, highlighting its significance as the world's largest rice exporter, accounting for over 40 per cent of global exports,' the official added.

 

India's vegetable oil imports are likely to drop 6% in the new marketing year beginning November, due to higher carryover stocks of oilseeds from the current year, a leading industry figure said on Wednesday.

 

India, the world's biggest importer of vegetable oils, is likely to buy 15.6 million metric tons of cooking oils in the 2023-24 oil year, down from 16.6 million in the current year to Oct. 31, 2023, said Sandeep Bajoria, chief executive of Sunvin Group, a Mumbai-based vegetable oil brokerage and consultancy firm.

 

The country is likely to import 9.5 million metric tons of palm oil next year against 10 million in 2022-23, he told a global conference on vegetable oils in Mumbai.

 

Palm oil constitutes the bulk of India's vegetable imports.

 

Earlier this month, Reuters reported that Indian refiners imported more than 1 million metric tons of palm oil in August - the second consecutive month of higher purchases to build stocks for the festival season that kicks in next month.

 

India buys palm oil mainly from Indonesia, Malaysia and Thailand. It imports soybean and sunflower oil from Argentina, Brazil, Russia and Ukraine.

 

India is likely to buy 3.2 million metric tons of soyoil in 2023-22 against 3.5 million in 2022-23, Bajoria told the conference.

 

Purchases of sunflower oil are expected at 2.9 million metric tons in 2023-22, down from 3.1 million this year, he said.

 

Bajoria said carryover stocks of between 1.2 and 1.5 million metric tons of soybeans, and 1.2 to 1.4 million metric tons of rapeseed, would help reduce vegetable imports next year.

 

Imported stocks still stuck at ports would also boost local supplies, lowering next year's imports, he said.

Gujarat ranks as India’s top exporter with a transactional value of $2 billion, Prime Minister Narendra Modi said on Wednesday while an addressing an event to mark 20th anniversary of the Vibrant Gujarat Global Summit in Ahmedabad. Modi emphasized that the summit transcends branding, symbolizing a deep-rooted connection between him and the 70 million residents of Gujarat.

 

He said in the coming years, defence manufacturing will be a very big sector, adding that effective policy-making and efficient project implementation led to growth in growth in investments and employment in textile and apparel industry in the state.

 

In the automobile sector, investments rose 9x in comparison to 2001 in the state, with a 12x jump in manufacturing output. There has been a 75% contribution in India’s dyes and intermediates manufacturing. The highest share in investment is in agro and food processing industry in the country with more than 30,000 operational food processing units.

 

Over 50 % share in medical devices manufacturing and about 80 % share in cardiac stents manufacturing is taking place. More than 70% of the world’s diamonds contributing to 80 % India’s diamond exports, and 90 percent share in the ceramic market of the country with about 10 thousand manufacturing units of ceramic tiles, sanitary ware and different ceramic products are in the state.

 

PM said that India has to become the third largest economy in the world. He asked the industrialists to focus on sectors which will help in giving new possibilities to India. He asked for a discussion to take place in the startup ecosystem, agri-tech, food processing and Shri Anna.

 

Talking about the growing need for institutions of financial cooperation, the Prime Minister commented on the increasing relevance of GiFT City. 'GIFT City reflects the whole government approach. Here the Centre, state and IFSC authorities work together to create the best regulatory environment in the world. We should intensify efforts to make it a globally competitive financial marketplace.