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Market News
NRRI to help farmers produce and export aromatic rice.
Dec 08, 2023
National Rice Research Institute (NRRI) in Cuttack has taken up a project to help farmers produce and export aromatic rice.
NRRI director Amaresh Kumar Nayak said the institute has supplied high-yielding varieties of aromatic rice to members of farmer producer organisations (FPO)s of four selected districts — Mayurbhanj, Kandhamal, Kalahandi and Koraput — for cultivation.
'The institute will not only promote aromatic rice cultivation in these districts, but also connect with firms which can export the produce. The NRRI has signed a tripartite agreement with an export firm and the FPOs for better production and marketing of the product,' Nayak said.
'We will provide technical backup with respect to variety, package and practices and developing the standards. The procuring firm has a buyback agreement with the FPOs so that farmers will not face any problem of procurement and get a fair price for their produce,' Nayak added.
He said they are exploring the possibilities of exporting a consignment of aromatic rice within a few months. 'As the international markets look for both long and short grain aromatic rice, we should produce, package and market the product to meet the export quality,' Nayak said.
Cooperative export body NCEL gets nod to export 14.92 lakh tones non-basmati rice, 50k tonnes sugar: Amit Shah
NCEL, the cooperative export body, has received permission to export 14,92,800 tonnes of non-Basmati rice to 16 countries and 50,000 tonnes of sugar to two countries. It aims to double its revenue by 2025. NCEL has received 2,581 membership applications from 22 states and Union Territories. The society will promote exports of agricultural commodities, provide a complete export ecosystem, and help cooperatives access wider markets. It will focus on procurement, storage, processing, marketing, branding, and trading of cooperative products.
Chhattisgarh: Congress fails to rice to the occasion
The Congress government in Chhattisgarh hoped to benefit from higher paddy procurement prices, but the BJP set the narrative and outperformed them. The Baghel government fulfilled its promise of paying Rs 2,500 per quintal to farmers and offered an additional agriculture input subsidy. They pledged Rs 3,200 per quintal this time, Rs 100 more than the BJP's manifesto. However, the BJP promised to purchase every grain produced by farmers under MSP and offered to procure 1 quintal more per acre than the Congress. The Congress failed to recognize the changing tides in the paddy fields.
Karnataka IT exports jump 27% to Rs 3.2 lakh crore, contributes 42% to India's IT exports
Karnataka's IT exports grew 27% to Rs 3.2 lakh crore in 2022-23, contributing 42% to India's IT exports.
The Bengaluru Tech Summit (BTS) 2023 showcased tech leaders, startups, and investors from over 30 countries. Karnataka is the most sought-after destination for GCCs, hosting 40% of GCCs in India. The state has added 20 new GCCs every year since 2000. Karnataka is home to over 5,500 IT/ITeS companies, generating both direct and indirect employment. It also has a significant share in electronics design, machine tools manufacturing, aerospace & defense manufacturing, and biotechnology exports. Additionally, 63% of the state's renewable energy comes from renewable sources.
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