Search Result for : Wheat

The Dollar Business Bureau The trade policy of India on agriculture has a pro-customer prejudice which indirectly taxes farmers by putting export curbs on different crops, according to a study. The domestic prices of major agricultural items were below that of export prices in most of the years during the period 2004-2014, a joint study by The World Bank and Indian Council for Research on International Economic Relations (ICRIER) on Tuesday revealed. Policy makers have used preventive trade policies to maintain the domestic prices low in most of the years, the study found after an analysis of domestic prices deviation from global prices. The study on ‘Price Distortions in Indian Agriculture’, analysed global and domestic prices of 15 agri commodities for a 10-year period between ...

The Dollar Business Bureau The Government has issued a direction that the Central GST (CGST) rate on supply of certain goods, such as chena or paneer, natural honey, wheat, rice and other cereals, pulses, flour of cereals and pulses, that are not packed in containers and do not bear a registered brand name, will not be levied any CGST. Only those goods, that are packed in containers and bearing a registered brand name would attract 2.5% CGST rate.  But traders and the business community have raised several doubts  with regard to the meaning of registered brand name. In this context, the Notification No. 1/2017-Central Tax (Rate), dated 28th June, 2017 [which notifies the CGST rates of intra-state supply of goods] ...

The Dollar Business Bureau The government on Tuesday said that it is working for the development of food processing industry at a rapid pace and around 4 mega food parks will become operational in the coming three months. The industry is keenly interested in food processing sector as the Central government has got 300 proposals for establishing new cold chains, it said. “Just two mega food parks came into operation during 2009 and 2014, while 6 mega food parks became operational during the last three years – from 2014 to 2017. Similarly, 42 mega food parks will come into operation by 2019,” said Minister of State for Food Processing Industries Sadhvi Niranjan Jyoti, while speaking at an event organised by ASSOCHAM. “Four mega food parks ...

The Dollar Business Bureau Due to a favourable monsoon last year, the foodgrain production in India recorded an all-time high of 273.38 million tonnes in the crop year 2016-17, which is an increase of 8.7% compared to the previous year. Earlier, the record production was 265.04 million tonnes in 2013-14. The production of rice, wheat, coarse cereals, maize and pulses during the year is estimated to be at record level, as per the 3rd Advance Estimates, released by Agriculture Ministry on Tuesday. “As a result of very good rainfall during monsoon 2016 and various policy initiatives taken by the government, the country has witnessed a record foodgrain production in the current year,” the statement said. The Ministry of Agriculture issues four estimates in a year at various stages of ...

The Dollar Business Bureau  The Government of India is considering levying duty on wheat imports in order to safeguard the farmers amid the predictions of a record production this year, the Agriculture Secretary Shobhana K Pattanayak said on Wednesday. On December 8th last year, the government had reduced the customs duty on the imports of wheat to nil from 10% in order to boost availability of the grain in the domestic market and to check the retail prices. With the country now set to have a record output of 96.64 million tonnes of wheat in the current crop year of 2016-17 (July-June), there are apprehensions that the prices will come under pressure when the new crop reaches the market. “Whether to propose import duty ...

The Dollar Business Bureau The Ministry of Agriculture has released the second production estimates of foodgrains for the crop year ending 2016-17 (July-June). A fairly good monsoon after two consecutive years of sparse rainfall has boosted production estimates to record levels of 271.98 mt (million tonnes). This year's forecast beats the highest foodgrains production record of 265.04 mt achieved in 2013-14 by 6.94 mt. There is an 8% increase in comparison to last year's (2015-16) production levels which stood at 251.57 mt. The current year's estimate is higher than the average foodgrain production in the last five years (2011-2012 to 2015-16) by 14.97 mt. Rice, pulses, wheat, maize, tur, urad, oilseeds and coarse cereals are the categories that are likely to achieve record production this year. Sugarcane and Jute & Mesta production is likely to reduce, according to a report released by the Ministry of Agriculture. The foodgrains basket is inclusive ...

The Dollar Business Bureau The total area sown under Rabi crops across India crossed 645.12 lakh hectares till February 3 this year as compared to 610.44 lakh hectare at the same time in 2016. Pulses and wheat have recorded a maximum area under sowing. “As per preliminary reports received from the States, the total area sown under Rabi crops as on February 3, 2017, stands at 645.12 lakh hectares as compared to 610.44 lakh hectare this time in 2016,” the Ministry of Agriculture said in a statement on Friday. “Wheat and pulses have registered record sowing in terms of area,” it added. Wheat has been transplanted to an area of 317.81 lakh hectares this year, as compared to 297.25 lakh hectares in 2015-16. In 2016-17 until February 3, the area under rice cultivation was 25.64 lakh hectares ...

The Dollar Business Bureau Notwithstanding the government’s demonetisation scheme, sowing area of wheat increased 7% to 313.14 lakh hectares this season, while that of pulses also went up 11% to 157.68 lakh hectares so far during the ongoing Rabi (winter-sown) season. "As per preliminary reports received from the states, the total area sown under Rabi crops as on January 20, 2017, stands at 628.34 lakh hectares as compared to 592.36 lakh hectare this time in 2016," said an official statement.  On November 8, Prime Minister Narendra Modi announced the demonetisation of Rs.500 and Rs.1000 notes, generating countrywide speculations that the cleanup drive will enormously hit the country’s agriculture sector. But thanks to good monsoon and higher support price, wheat was sown in 313.14 lakh hectares ...