Tur dal is being sold below MSP in 3 states, expected to slump further
The Dollar Business Bureau After a record surge last year, tur dal prices have witnessed a sudden slump in the wholesale market this year, falling considerably below the Minimum Support Prices (MSP) level. Tur dal prices came down to Rs.4500 per quintal, as it has fallen by more than half in the last quarter alone. In addition to the bumper crop of the commodity last year, supported by the Government’s demonetisation drive, the prices have crashed to a record level. The major tur dal producing countries including Karnataka, Maharashtra and Gujarat had a good crop year in 2016. In Karnataka, the total production is projected to touch 20-25 lakh metric tonnes compared to 12.50 lakh metric tonnes last year. Wholesale prices in the country’s main tur ...
'100% FDI in marketing of food products, a great hope to food processing sector'
The initiative of 100% FDI in the marketing of food products would help the farmers in getting their business on toes., saysHarsimrat Kaur Badal,Minister ofFood Processing Industries The Dollar Business Bureau The Union Minister for Food Processing Industries, Harsimrat Kaur Badal addressing the inaugural of an international International food fair, in New Delhi on TuesdayThe 100% FDI in the marketing of food products produced and manufactured in India in thefood processing sector has helped the industry on a larger scale, said Harsimrat Kaur Badal, Minister of Food processing industries. She added that it would provide an impulsive thrust to the foreign investment in the sector and would create vast employment opportunities that couldbenefit the farmers. The minster said that the new ...
Govt hikes minimum export price of onion to check domestic market rate
The Dollar Business Bureau In an effort to curb soaring prices of onion in the domestic market, the government has increased the minimum export price (MEP) of onion by more than 140% from $175 per tonne to $425 a tonne. “Export of all varieties of onions will be subject to a MEP of $425 FOB (freight on board) per tonne,” a report said citing a notification issued by the Directorate General of Foreign Trade (DGFT). According to officials, the move will discourage onion traders to sell the produce abroad, resulting in adequate supply in the domestic markets. In the wholesale markets within the country, the price of onion has increased from Rs 11,000 ($173) per tonne to Rs 17,000 ($268) in ...
