The Telangana government will host a Food Conclave-2023 on April 28 and 29. The annual brainstorming event is expected to host 100 thought leaders from the agri-food industry.

 

'They will have intense deliberations to identify the key challenges and opportunities for the growth of the Indian agri-food sector in this decade,' a senior government official said.

 

The event will have five thematic tracks covering agriculture (green), edible oil (yellow), dairy (white), meat and poultry (pink), and aquaculture (blue).

 

'We are collaborating with the World Economic Forum-India, Indian Vegetable Oil Producers Association (IVPA), Indian Dairy Association, Heifer International, and Society of Aquaculture Professionals to conduct these sessions. 'The conclave will have 27-panel discussions, five roundtables, and more than 40 one-on-one meetings between government and industry leaders,' a senior leader from the organising committee said.

 

'The current global situation presents a unique set of challenges and potential opportunities. It, however, will take a coordinated and calculated effort to capitalise on these opportunities for the State and country,' he said.

 

He asked key stakeholders to get together and chart out a clear path to cash in on the opportunity. 'Through this event, we intend to create such a platform,' he said.

Union Minister of Commerce and Industry, Consumer Affairs, Food and Public Distribution and Textiles, Shri Piyush Goyal said that logistics has become the centerpiece of India’s policy making in its journey towards becoming a developed nation and a leader in international trade. He also said that express delivery of services has transformed through innovative ideas under the leadership of Prime Minister Shri Narendra Modi.

 

During his address at the ICRIER Release of the Report on Express Delivery Services in New Delhi, the Minister praised the Indian Council for Research on International Economic Relations (ICRIER) for a report which aims to improve the overall logistics system by partnering with industry and government. He said that ICRIER acts as a bridge between government and industry. He added that it must work with industry experts on the roadmap for fruitful realization and implementation of the recommendations of the report.

 

The Minister noted that the growth in overall exports over the last two years despite challenges like inventory pileup, high raw material costs, freight issues, and the COVID-19 pandemic’s impact is commendable. He said that the government is making a conscious effort to change the mindset of looking at things from the old perspective and living in hesitations of history. It is the result of these efforts that the overall exports from India in 2022-23 are expected to be about US$ 765 billion, he said.

 

The Minister said that the government is focused on taking digital connectivity across the length and breadth of the country, with 4G and broadband internet reaching almost every corner of the country. He observed that the seamless digital connectivity enabled India to deliver services on time during the COVID period by facilitating work from home. He said that this express delivery of services through an expansive digital network created over the last 8 years must be duplicated in the logistics sector for timely delivery of goods.

 

He said that Express Delivery Services is yet to come to terms with the huge potential India holds. The Minister noted that scale, efficiency, and building blocks through technology must be utilized to bring down the cost in logistics. He said that the government is taking steps in this direction through massive infrastructure development through PM GatiShakti for smarter and faster planning and implementation of projects, Unified Logistics Interface Platform and dedicated freight corridors.

 

He highlighted that when the Prime Minister said that India can be the trusted partner to the world at the G20 Summit, the message went out that India is ready to do business with its transparent and rule based ecosystem and its highly talented and committed human resource. The Minister said that trust, transparency, and talent will help us in our trade.

 

He said that the Prime Minister’s vision for India is big and bold, and the entire world is looking up to India with hope and confidence that the country can deliver. He appreciated the role played by youth in the startup sector and encouraged them to think big and work towards making India a developed country.

 

The Minister said that the Prime Minister’s innovative ideas, including transporting liquid medical oxygen by trains and empty containers by air transport during the COVID-19 pandemic, led to a significant reduction in delivery time and saved numerous lives. He emphasized the importance of speed in determining the success of India and called for newer ideas and ways of doing work in the spirit of togetherness for the country.

India's goods exports touched $447 billion till the last count for 2022-23 fiscal year against $422 billion in 2021-22, commerce and industry minister Piyush Goyal said on Tuesday.

 

The final export and import data for 2022-23 would be released by mid April. At present, the ministry is in the process of collating the data. The trade data for goods comes with a lag of about 15 days and in the case of services data, it is 45 days.

 

Goyal said services exports are estimated to cross $320 billion in 2022-23.

 

Growth in merchandise goods would be around 6% for the last fiscal, he said, adding that it has grown from '$422 billion to $447 billion at last count (as the) final numbers are still awaited'.

 

He said the country's exports are growing despite global challenges such as rise in raw material prices, restrictions in exports of certain products like wheat and Russia-Ukraine war.

 

'The final numbers (exports of goods and services will be closer to $765 billion... I would not be surprised if we actually go up to $772 billion which we figured while drawing the road map for $2 trillion of exports by 2030,' the minister said.

 

If the data reaches $772 billion, Goyal said, 'then, I will probably reset the $2 trillion target also'.

 

Speaking at an event, he also said that the express delivery services sector had huge potential for growth in India.

 

'To bridge the cost in logistics, we need to look at scale, efficiency and the building blocks through technology,' he added.

 

Going by the strong foundation which the government is building in terms of high expenditure for developing modern infrastructure, internationalisation of trade , free trade agreements and growth in exports of goods and services, the economy may reach $35-40 trillion by 2047, he added.

Describing the coming together of Centre, states, industry, and Civil Society organization in the welfare of agriculture sector a healthy thing, Dr. Himanshu Pathak, Director General of ICAR said that in the next 25 years, by the time India’s Amritkal is complete, India will write a better and spectacular story wherein agriculture sector will play an important role.

 

He was speaking at a seminar in New Delhi on 'Unlocking the Potential of India’s Agriculture: Key to Unleash A Thriving Economy' organized by the Foundation for the Growth of New India or FGNI.

 

Dr. Pathak who himself was a farmer in his early growing up years said that he feels the pain of India’s farmers, particularly the small and marginal farmers. If India is to be a developed nation by 2047, it cannot happen without agriculture and the contribution of small and marginal farmers, he stated.

 

Pathak was joined by Dr. R. B. Singh, a well-known figure in India’s agriculture policy field, ‘Padma Bhushan’ awardee, Chancellor of Central Agricultural University, Imphal and President & Founding Member of FGNI and Shri R. G. Agarwal, Advisor, FGNI.

 

Calling for making 'New India' a truly New India which is equitable, prosperous and happy too, Dr. R. B. Singh said, 'World is looking towards India for direction, G20 presidency being one of such instances, however rather than being complacent, we should empower our farmers and rural populace, who constitute about 50% of population with technology to increase their income from being one fourth in comparison to non-farmers to being equal to any other group.

 

R. G. Agarwal candidly spoke at length on a number of issues faced by Indian farmers, including use of injurious pesticides imported from China which is damaging the soil and crops, lack of technology in hands of farmers, different treatment to fertilizer and pesticides by the government etc.

 

Binod Anand, who spoke on the plight of small and marginal farmers, proposed to organize four deliberations on the issues faced by farmers. The same was agreed upon by all scientists and eminent personalities. DG ICAR Dr. Himanshu Pathak also accepted to be a patron of the foundation.

 

FGNI will compile the suggestions and inputs presented by the participating scientists, industrialists and other eminent speakers and will bring out a Policy Paper to be presented to government, said Anand.

 

Several scientists and eminent persons were present on the occasion including B. V. Rao, Group Consulting Editor (Digital), India Today Group.

Turmeric yesterday settled up by 0.46% at 7014 on short covering as export demand is good amidst lukewarm domestic demand. Turmeric harvesting has started in the key growing regions and farmers and stockists are releasing their stocks, in the fear of further decline in prices. In the AP (Nizamabad) Turmeric market around 5,000-7,000 bags are arriving on an average daily basis. In the Erode spot market 400-600 bags are reported daily, In the Sangli district it is around 3500-7000 bags. Coupled with weak demand in the export and domestic markets prices are trading at lower levels (in the current season). 

 

Turmeric exports during Apr-Jan 2023, rose by 7.76 percent at 1,36,492.59 tonnes as compared to 1,26,659.01 tonnes exported during Apr-Jan 2022. In January 2023 around 12,484.25 tonnes of turmeric was exported as against 12,039.57 tonnes in December 2022 showing a rise of 3.69%. In January 2023 around 12,484.25 tonnes of turmeric was exported as against 10,558.26 tonnes in January 2022 showing a rise of 18.24%. Production of spices in India is likely to have declined 1.5% on year to 10.9 mln tn in 2021-22 (Jul-Jun), according to data from Spices Board India. The country had produced 11.0 mln tn of spices in the previous year. The Spices Board has pegged turmeric production at 1.33 mln tn, up 18.4% on the year. In Nizamabad, a major spot market in AP, the price ended at 6956.25 Rupees gained 55.2 Rupees.

 

Technically market is under fresh buying as the market has witnessed a gain in open interest by 15.15% to settle at 7980 while prices are up 32 rupees, now Turmeric is getting support at 6974 and below same could see a test of 6934 levels, and resistance is now likely to be seen at 7052, a move above could see prices testing 7090. 

B20 Conferences in the North East Region of India in partnership with the Confederation of Indian Industries (CII), Department for Promotion of Industry and Internal Trade (DPIIT), Ministry of External Affairs and North Eastern State Governments under India’s G20 Presidency have been organized for exploring partnerships among business communities. The conferences would aid the development of critical sectors of the economy in the North East and would facilitate economic growth.

 

The B20?is the official G20 dialogue forum representing the global business community. It is among the most prominent engagement groups in G20, with companies and business organizations as participants.

 

The Northeast region of India has been of significant focus for B20 India Initiatives, with four conferences planned across the region to showcase the vast potential and opportunities within the region. The first three conferences held in Imphal, Aizawl, and Gangtok have been successful in their objective of highlighting the untapped potential of the Northeast.

 

Opportunities for Multilateral Business Partnerships in Agriculture and Food Processing, Tourism, and Information Technology will be the main theme of the forthcoming conference, which will take place in Kohima, Nagaland, from April 4–6, 2023. On this theme, addresses and plenary sessions will be held at the conference, along with business to business (B2B) and business to government (B2G) meetings. The state administration will bring attention to the major developments and activities in these fields while highlighting investment opportunities.

 

After the delegates arrive on the initial day of the three-day conference, dinner and a cultural program will take place at the Capital Cultural Hall. The B20 conference will be held on day two, followed by B2B and B2G meetings. The state government has also organised excursions and site visits. This includes a tour of the mini-Hornbill festival, an excursion to a WWII museum and a visit to a Heritage Village, Kisama Village. The third day will bring the event to a close with a trip to the Kohima War Cemetery and the departure of the participants from Kohima.

China has stepped up purchases of pulses such as kidney beans and Kabuli chana (chickpea) from India in recent years to meet its growing demand. In the 2022-23 fiscal, China emerged as the biggest buyer of Indian pulses, displacing UAE, with the import value exceeding $100 million for the first time.

 

APEDA data reveal that Chinese imports of Indian pulses stood at $102.41 million during the April-January period of 2022-23 over $89.03 million in the entire 2021-22, a 15 per cent growth. During this period, India’s overall pulses exports increased to $476 million, an increase of 25 per cent over $379 million in the previous fiscal.

 

Chinese purchases of Indian pulses in sizeable quantities, which started during the Covid pandemic, have sustained and grown multi-fold over the past couple of years. There is a five-fold increase in the volume of pulses exports to China from India over the past four years, while in terms of value, they have more than trebled during the last three years ( see table).

 

Changing food habits

'China is coming up as a very big consumer of pulses in the past few years. Their food habits are changing and consumption is increasing year by year,' said Harsha Rai, Vice President – Sales at Mayur Global Corporation, an international broker of pulses.

 

Chinese purchases of Indian pulses in sizeable quantities, which started during the Covid pandemic, have sustained and grown multi-fold over the past couple of years. There is a five-fold increase in the volume of pulses exports to China from India over the past four years, while in terms of value, they have more than trebled during the last three years ( see table).

 

Changing food habits

'China is coming up as a very big consumer of pulses in the past few years. Their food habits are changing and consumption is increasing year by year,' said Harsha Rai, Vice President – Sales at Mayur Global Corporation, an international broker of pulses.

India’s wheat production is unlikely to drop from the estimated record high of 112.18 million tonnes (mt) despite unseasonal rains lashing many parts of the growing regions, according to an official assessment. However, wary over a possibility of drop in yield or lower realisation by farmers, the government has advised not to harvest in a hurry.

 

About 10 per cent damage is estimated in those areas that were affected by lodging after hailstorms and high-velocity winds in last few weeks, according to Agriculture Commissioner PK Singh. However, he said the rain has helped improve yield in the late-sown crop in regions where there have been no hailstorms and strong winds.

 

High moisture

According to Gyanendra Singh, Director of Karnal-based Indian Institute of Wheat and Barley Research (IIWBR), wheat production could have gone to 115-116 mt this year had there been no unseasonal rains as the crop was in good condition everywhere. 'We advise farmers to keep the crop get dried on the field as with high moisture the harvest will not get the normal rate. There is even a chance of damage if it remains with high moisture for a long time,' the director said.

 

He said currently there are reports of 20-22 per cent moisture and it will come down to 10-12 per cent in the field itself after which wheat can be harvested.

 

Almost entire North-west and Central India, where wheat is grown, have been receiving unseasonal rains accompanied by hailstorms and gusty winds sporadically in past few weeks due to the Western disturbances.

 

On Monday, the agriculture commissioner reviewed the crop situation with officials of the major wheat-growing States. The country had wheat acreage of over 34 million hectares (mh) this year.

 

MP, Rajasthan harvest

In Madhya Pradesh and Rajasthan, 80 per cent of the wheat crop has been harvested and the damage could be minimal there. The worry is about 75 per cent area in Uttar Pradesh, Punjab and Haryana which had early or timely sowing, officials said.

 

State governments have reportedly informed the Centre about crop damage in 0.52 million hectares in Madhya Pradesh, Rajasthan and Uttar Pradesh while Punjab and Haryana are yet to convey the actual damage to the wheat crop. Even in those damaged areas, the extent is not more than 15 per cent, officials said.

India and Malaysia have announced a major breakthrough in their bilateral trade relations. The two Asian countries can now settle trade in Indian Rupee (INR) in addition to the other currencies currently in use.

 

In July last year, the Reserve Bank of India (RBI) made the announcement to allow merchants to trade in INR with other countries with the aim of supporting the growth of global trade and the interests of the global trading community in INR.

 

The announcement comes a day after India’s ministry of commerce launched the Foreign Trade Policy (FTP) 2023, with the intention of making the rupee a global currency. This is a significant move towards India’s goal of increasing the acceptability of the rupee in the international market.

 

A currency is deemed to be “international” if it is widely acknowledged as a medium of exchange across the globe. While India has been successful in conducting trade in rupee with a limited number of countries, it is actively collaborating with several others to extend its reach.

 

India International Bank of Malaysia (IIBM) has operationalized the mechanism by opening a special Rupee vostro account through its corresponding bank in India, the Union Bank of India. This mechanism is expected to benefit traders on both sides as they can directly trade in INR and save on currency conversion spreads.

 

The facility enables exporters and importers from India and Malaysia to invoice trade in INR, resulting in better pricing for goods and services traded. IIBM has said it will facilitate traders in Malaysia for settlement of this trade in INR. Banks from 18 countries have opened 30 special vostro accounts for trade in INR, with Sberbank and VTB Bank, the largest and second-largest banks of Russia, respectively, being the first foreign lenders to receive approval.

 

The new mechanism is also aligned with Malaysia’s Foreign Exchange Policies (FEP) which allows Malaysian banks to undertake settlement of international trade in goods or services in any foreign currency, subject to the rules and regulations of Bank Negara Malaysia.

 

The development of trade between India and Malaysia in INR is an indication of the growing acceptance of the currency internationally. India has been able to conduct rupee-denominated trade with a few nations and is working closely with several others to expand it. The move towards making the rupee an international currency will give Indian businesses a competitive advantage in the global market.

 

The new mechanism will also reduce transaction costs and currency risks for traders, making trade between India and Malaysia more attractive. It is expected to boost economic activity between the two countries and provide a major fillip to their trade relations.

India has been planning to relax norms to procure wheat from farmers amid untimely rainfall and hail which damaged the crop just before harvesting in key producing central and northern states, government officials and traders told Reuters.

 

The world's second biggest wheat producer plans to buy 34.15 million tonnes of new-season wheat from local farmers to shore up state reserves after purchases dropped 53% last year to 18.8 million tonnes because of a poor harvest.

 

New season wheat has started arriving on the market, but the harvest has lost lustre in some districts because of the recent rainfall, said a senior government official, who declined to be named.

 

'We have allowed Madhya Pradesh state to procure wheat even with 10% loss in lustre. If required we would take call for other states and other parameters such as moisture,' the official said. The source didn't wish to be identified in line with official rules.

 

Madhya Pradesh is the second biggest producer of wheat after Punjab.

 

Wheat crop has also been damaged in Punjab and Haryana because of rainfall in the past few days and the government would be forced to make similar changes in the procurement rules for these states, said a New-Delhi-based trader with a global trade house.

 

Punjab, Haryana and Madhya Pradesh accounted for more than 98% of the total wheat procured in 2022.

 

Crop with lower lustre was getting sold at a big discount to good quality crop in the market and the government buying would stop this distress sale, the trader said.

 

The state-run agencies have procured 260,000 tonnes of wheat from farmers as on April 2, up from the last year's 46,000 tonnes, another government official said.

 

'Buying would gain momentum in the next few weeks. It didn't pick up desired momentum because of rainfall,' the official said.

 

The government-backed Food Corporation of India (FCI) buys wheat from farmers at state-set prices to run the world's biggest food welfare programme.