India's April palm oil imports jump 34 pc on lower global prices
India's palm oil imports rose 34.11% to 6,84,000 tonnes in April, led by lower global prices. Vegetable oil imports, including RBD palmolein and CPO, surged. Soybean and sunflower oil prices also fell, driving higher imports. Key Points
Economic TimesNet sugar output dips marginally at 280.79 lakh tonnes so far in 2023-24 mkt yr ending Sep: ISMA
India's sugar production declined to 280.79 lakh tonnes by March 15. Maharashtra, Karnataka, and Uttar Pradesh experienced varying levels of decrease. ISMA reported 371 active factories. Ethanol manufacturing and FRP hike were notable developments. Key Points
Economic TimesISMA revises upwards estimates of gross sugar output by 9.5 lakh tons to 340 lakh tons in 2023-24
The Indian Sugar Mills Association (ISMA) revised its projection for the gross sugar production for the 2023-24 marketing year to 340 lakh tonnes, up by 9.5 lakh tonnes from the earlier estimate of 330.5 lakh tonnes. This adjustment considers higher-than-expected sugarcane availability in Maharashtra and Karnataka, though Uttar Pradesh's supply is anticipated to be lower. Key Points
Economic TimesWheat stock with Food Corporation of India falls below 100 lakh tonnes for the first time since 2018
The Food Corporation of India (FCI) has reported a decrease in wheat stocks, falling below 100 lakh tonnes for the first time since 2018. However, rice stocks held by FCI currently exceed four times the buffer norm. Despite the drop in wheat stocks, the current level remains above the statutory buffer stock requirement. FCI anticipates a notable improvement in wheat procurement this year. Key Points
Economic TimesGovt 2nd estimate pegs wheat output at record 112.01 mn tn in 2023-24
The wheat output is estimated to be 1.46 million tonnes higher than the previous record high of 110.55 million tonnes achieved in the 2022-23 crop year. Key Points
Economic Times
Ahead of Eid, India relaxes ban to export 50,000 tonnes of onions to Bangladesh
India imposed a ban on onion exports last December amid concerns over domestic production shortfall caused by irregular rainfall, pushing prices up. The ban is in place until the end of the ongoing financial year. Key Points
mintGovt fixes wheat procurement target at 34.15 million tones for 2023-24
India Business News: The government has fixed a wheat procurement target of 34.15 million tonnes for the 2023-24 marketing year starting April, higher than 18.79 million t Key Points
Times Of IndiaAISTA's 1st estimate pegs sugar output 4 pc lower at 31.6 mn tons for 2023-24 season
AISTA projects India's sugar production for the 2023-24 season to be around 31.6 million tonnes, a four percent decrease from the previous season. The estimated net domestic sugar production excludes a sucrose diversion of 2 million tonnes for ethanol production. The availability of sugar in the country is estimated to be 37.3 million tonnes, higher than the estimated domestic consumption of 29 million tonnes. Key Points
Economic TimesGovt fixes wheat procurement target at 34.15 million tones for 2023-24
India Business News: The government has fixed a wheat procurement target of 34.15 million tonnes for the 2023-24 marketing year starting April, higher than 18.79 million t Key Points
Times Of IndiaGovt fixes wheat procurement target at 34.15 million tones for 2023-24
India Business News: The government has fixed a wheat procurement target of 34.15 million tonnes for the 2023-24 marketing year starting April, higher than 18.79 million t Key Points
Times Of India
Govt procures 25,000 tonnes of kharif onion so far for buffer stock
The government has raised the buffer stock target to 7 lakh tonnes for the 2023-24 fiscal, against the actual stock of 3 lakh tonnes last year. According to the Secretary, the government had procured 5 lakh tonnes from last year's rabi season and is purchasing 2 lakh tonnes of kharif onion as the buffer stock target has been raised. Key Points
Economic TimesIndia exports 26 lakh tonnes of basmati rice, 73.18 lakh tonnes of non-basmati rice in Apr-Oct: Govt
India has exported 26.08 lakh tonnes of basmati rice and 73.18 lakh tonnes of non-basmati rice during the April-October period of this fiscal year. In a written reply to Lok Sabha, Agriculture Minister Arjun Munda shared export data of major food grains. Key Points
Economic TimesIndia's fuel demand slips in November from four-month peak
Total consumption in November, a proxy for oil demand, fell by 2.8% to 18.72 million tonnes from 19.26 million tonnes in October, the data from the Indian oil ministry's Petroleum Planning and Analysis Cell (PPAC) showed. It was down about 2% compared with the same period a year earlier. Consumption increased in October due to agricultural demand and as people traveled during the festive season. November is seeing a dip as people reverted to normal activity, said Prashant Vasisht, vice president and co-head, corporate ratings at ICRA. Key Points
Economic TimesGovt fixes wheat procurement target at 34.15 million tones for 2023-24
India Business News: The government has fixed a wheat procurement target of 34.15 million tonnes for the 2023-24 marketing year starting April, higher than 18.79 million t Key Points
Times Of IndiaIndia allows export of specified quantity of wheat, broken rice to five countries
The Indian government has authorized the export of specified quantities of wheat, wheat flour, and broken rice to five countries, including Bhutan, Mali, and Indonesia. The permission covers shipments through the National Cooperative Exports Limited (NCEL). The quantities permitted for Bhutan include wheat grain, atta, maida/semolina, and broken rice. Key Points
Economic Times
India's oilmeals export rises 36 per cent in October to nearly 2.9 lakh ton: Trade data
Soyabean meal export rose to 87,060 tonnes last month from 40,196 tonnes in the year-ago period, while shipment of rapeseed meal increased to 1,69,422 tonnes from 98,571 tonnes during the period under review. Foreign demand for Indian soyabean meal has benefited from improved price competitiveness and the shortage of Argentine export supplies in recent months, SEA said. Key Points
Economic TimesStockholding limit hiked for big wholesalers of Tur and Urad Dal
The Indian government has increased the stock limit for wholesalers of tur and urad dal from 50 metric tonnes to 200 metric tonnes to boost the supply of these pulses in the market. Additionally, the time period for which importers can hold their stocks after clearance has been doubled to 60 days. Key Points
Economic TimesGovt fixes wheat procurement target at 34.15 million tones for 2023-24
India Business News: The government has fixed a wheat procurement target of 34.15 million tonnes for the 2023-24 marketing year starting April, higher than 18.79 million t Key Points
Times Of IndiaPulses supplies to remain constrained till Diwali
There is likely to be a shortage of 1 million tonnes of tur till the harvest of new crops begins in December/January, while the production of kharif moong is expected to be lower by 12%. The quality of urad crop under harvest has been damaged due to rainfall in September. Key Points
Economic TimesGovt fixes wheat procurement target at 34.15 million tones for 2023-24
India Business News: The government has fixed a wheat procurement target of 34.15 million tonnes for the 2023-24 marketing year starting April, higher than 18.79 million t Key Points
Times Of India
NCCF procures 2,826 tn onion from farmers for buffer stock; to scale up buying in coming days
The National Cooperative Consumers' Federation of India (NCCF) has purchased 2,826 tonnes of onions directly from farmers in the last four days, mostly from Maharashtra, as it aims to increase its buffer stock. The government has increased the onion buffer stock target from 3 lakh tonnes to 5 lakh tonnes this year. The NCCF and NAFED have been directed to procure 1 lakh tonnes each directly from farmers to prevent panic selling and control domestic prices. Key Points
Economic TimesIndia imported 141.93 lakh tonnes edible oil during 2021-22 marketing year: Government
The domestic production of edible oilseeds increased marginally. However, domestic consumption/demand for edible oils has been increasing at a pace faster than that of production due to growth in population and improvement in the living standards of people i.e. around 10 lakh tonnes per annum, she said. Key Points
Economic TimesIndia's fuel demand slips in June on monsoon lull
India's fuel demand eased 3.7% in June month-on-month, government data showed on Friday, as monsoon rains restricted mobility in the world's third-biggest oil consumer. Key Points
ReutersGovt's rice procurement reaches 55.8 million tonnes and wheat 26.2 million tonnes so far
Wheat procurement has reached 26.2 million tonnes so far in the 2023-24 rabi marketing year (April-March), more than the last year's total procurement of 18.8 million tonnes. With the current procurement of wheat and rice, adequate food grains stock in government granaries is maintained, the ministry said in a statement. Key Points
Economic TimesGovernment to build foodgrain godowns in every block
The scheme will utilise funds already allocated for other schemes, Thakur said. Under this scheme, a godown of a capacity of 2000 tonnes will be constructed in every block, or district subdivision. An inter-ministerial committee will be formed for this. The initiative will help reduce damage of foodgrains due to a lack of storage, check distress sales by farmers, reduce import dependence, and create employment opportunities in rural India, the minister said. Key Points
Economic Times
Agricultural products trade via e-NAM surges 41% in FY23
Agricultural products trade through the electronic-National Agriculture Market (e-NAM) surged 41% to 18.6 million tonnes in 2022-23 from 13.2 million tonnes in the previous financial year. Several innovative products have started trading through these mandis, said a senior official, who did not wish to be identified, adding that several products such as silk cocoons, saffron and bamboo are being sold on the platform. Key Points
Economic TimesGovt’s rice procurement reaches 52.06 million tones so far; makes Rs 1.6 lakh crore MSP payment
The government's rice procurement has reached 52.06 million tonnes so far in the ongoing 2022-23 marketing season, benefitting 1.12 crore farmers with MSP of Rs 1.6 lakh crore, the food ministry said on Friday. Key Points
FinancialexpressFoodgrain output pegged at record 330MT for 2022-23: Centre
India’s food grain production in 2022-23 is estimated to be 330.53 million tonnes, the government said. | Latest News India Key Points
Hindustan TimesStatus quo is not an option for Tata Steel UK: MD, TV Narendran
The Rishi Sunak-led government's earlier proposal barely covered a fifth of the estimated capital cost required at Port Talbot Steelworks, Narendran said. The company's European operations continued to be a drag on its consolidated financials. Edited excerpts: Key Points
Economic TimesIndia's sugar output could fall to 32.8 mln tonnes: ISMA
India is likely to produce 32.8 million tonnes of sugar in the 2022-2023 marketing year, down 3.5% from the previous forecast, as sugar cane yields in major producing states fell due to erratic weather conditions, ISMA said. The trade body in January was expecting India to produce 34 million tonnes in the current season ending on Sept. 30, after harvesting a record 35.8 million tonnes in the previous season. Key Points
Economic Times
India's sugar output drops 5.4% y/y as mills close early
The government allowed mills to export only 6.1 million tonnes of sugar in the 2022/23 season, but Prime Minister Narendra Modi's administration was expected to allow a second tranche of shipments. India's absence from the market could lift global sugar prices , which were trading near their highest level in more than a decade, and allow rivals Brazil and Thailand to increase shipments. Key Points
Economic TimesEdible oil import rises 8 pc to 11.35 lakh tonnes in March
India's palm refining industry is heavily suffering from very low capacity utilisation due to excessive import of RBD Palmolein and getting transformed into mere packers, it added. The duty difference between CPO (crude palm oil) and Refined Palmolein/Palm Oil needs to be increased from the current 7.5 per cent to at least 15 per cent..., the association said. Key Points
Economic TimesSugar output falls 3% to 299.6 lakh tonnes in Oct-Mar of 2022-23 mkt year
As per the data, sugar production in Uttar Pradesh rose to 89 lakh tonnes during October 2022-March 2023 period from 87.5 lakh tonnes in the year-ago period. Key Points
FinancialexpressIndia's Apr-Feb fertiliser imports from Russia highest in 3 years at 34.19 lakh tonnes
In the current fiscal, India imported 34.19 lakh tonnes of fertilisers, including urea and DAP, from Russia. This is the highest in the last three years, despite the Russia-Ukraine war. The imports have risen notwithstanding the war, due to increased demand for these fertilisers in the country. The government has taken several measures to boost the domestic urea production, but still relies on imports to meet the gap. Key Points
Economic TimesGovt fixes wheat procurement target at 34.15 million tones for 2023-24
India Business News: The government has fixed a wheat procurement target of 34.15 million tonnes for the 2023-24 marketing year starting April, higher than 18.79 million t Key Points
Times Of India
India expects fuel demand to grow 4.7% in FY24
Fuel consumption in 2023-24, a proxy for oil demand, could rise to 233.8 million tonnes from the revised estimate of 222.9 million tonnes for the current fiscal year ending in March, according to government forecasts. Key Points
India TodayShelly Oberoi's priority after becoming Delhi mayor is…
As per a latest estimate by the MCD, the national capital generates 11,332 tonnes of solid waste per day. The civic body had said that 4,360 tonnes of this garbage ends up at the three landfill sites at Ghazipur, Okhla and Bhalswa. | Latest News Delhi Key Points
Hindustan TimesOn Delhi's landfill sites, mayor Shelly Oberoi says ‘MCD will…’
As per a latest estimate by the MCD, the national capital generates 11,332 tonnes of solid waste per day. The civic body had said that 4,360 tonnes of this garbage ends up at the three landfill sites at Ghazipur, Okhla and Bhalswa. | Latest News Delhi Key Points
Hindustan TimesFCI Sells 3.85 Lakh tonnes Of Wheat In Open Market To Cool Prices
Food Corporation of India (FCI) sold 3.85 lakh tonnes of wheat to bulk consumers in the second round of e-auction, as part of its efforts to boost domestic supplies and control prices of wheat and atta (wheat flour). Key Points
NDTV.comGovt 2nd advance estimate pegs wheat output at record 112 mt in 2023-24 season
New Delhi, Feb 29 (PTI) The government on Thursday pegged wheat output at a record 112.01 million tonnes for the 2023-24 crop year (July-June) in its second advance estimate ahead of the harvesting season. The wheat output is estimated to be 1.46 million tonnes higher than the previous record of 110.55 million tonnes achieved in […] Key Points
ThePrint
Gross sugar output may fall 10 pc to 330.5 lakh tonnes in 2023-24 marketing year ending Sep: ISMA
India's sugar production, without ethanol diversion, is estimated to decline 10% to 330.5 lakh tonnes in the current marketing year. Maharashtra and Karnataka are likely to see lower output. The gross production in Maharashtra is estimated to fall to 99.9 lakh tonnes, while in Karnataka it may dip to 49.7 lakh tonnes. In Uttar Pradesh, the gross output is seen increasing marginally. The government has allowed sugar diversion of only 17 lakh tonnes for ethanol production. This could result in a net sugar production of around 313.5 lakh tonnes. Key Points
Economic TimesIndia's Oct-Dec sugar output dips 7.7 pc to 112 lakh tons: NFCSF
However, Uttar Pradesh, the country's second largest sugar producing state, produced more sugar at 34.65 lakh tonnes till December of this season, when compared to 30.80 lakh tonnes in the year-ago period. NFCSF said the average sugar recovery in the country stood at 9.17 per cent and as winter progresses, sugar yield is expected to increase accordingly . Key Points
Economic TimesRecord foodgrains production set to cross 330.53 mn: Govt
According to the statement, total rice production in 2022-23 agricultural year is estimated at a record 135.54 million tonnes, higher than last year’s 129.47 million tonnes. Key Points
The Indian ExpressDiversion of sugar for ethanol to fall by 11%, says ISMA
The Indian Sugar Mills Association (ISMA) has lowered its sugar production forecast to 368 lakh tonnes, down 4.6% from the January estimate of 385 lakh tonnes due to unexpectedly lower cane yields in Maharashtra caused by higher ratoon crop share and uneven rainfall. Key Points
Economic TimesIndia's coffee exports rise 13.35 pc to 1.25 lakh tonnes in January-March
India's coffee shipments surged 13.35% to 1,25,631 tonnes in January-March 2024, driven by robust demand for Robusta coffee. Arabica and Robusta are the two varieties grown in India, with Arabica having a smoother taste and Robusta being more bitter. Export of Robusta beans increased by 18%, while Arabica exports declined. Instant coffee exports and re-exports also saw growth. The total coffee export value during this period was Rs 3,644 crore, with major destinations including Italy, Russia, the UAE, Germany, and Turkey. Key Points
Economic Times
NFCSF revises down sugar output estimate to 32.7 million tons for 2022-23
The revised sugar production estimate is, however, down by 8.88 per cent from the actual production of 35.92 million tonnes in the 2021-22 marketing year (October-September). In a statement, NFCSF said about 531 sugar mills across the country have produced 32.03 million tonnes of sugar till April 30. Of 531 sugar mills, 67 mills are still in operation. Key Points
Economic TimesDespite rain loss, wheat yield set to cross 160 lakh tonnes, says Agri dept
The total wheat yield in Punjab is expected to cross 160 lakh tonnes in the current rabi season. The state agriculture department has pegged production based on crop-cutting experiments. Key Points
Hindustan TimesIndia's fertiliser imports up 3.9pc to 19.04 lakh ton in January
According to the latest data, of the total imports of 19.04 lakh tonne, 10.65 lakh tonnes of urea, 5.62 lakh tonnes of Di-ammonium Phosphate (DAP), 1.14 lakh tonnes of Muriate of Potash (MoP) and 1.63 lakh tonnes of complexes were imported. Key Points
Economic Times'Centre plans to procure five lakh tonnes of onions this year for buffer stock'
The government's plan to create buffer stock comes amid an estimated fall in onion output in 2023-24. Production of onion in 2023-24 is expected to be around 254.73 lakh tonnes compared to around 302.08 lakh tonnes last year due to a decrease of 34.31 lakh tonnes in Maharashtra, 9.95 lakh tonnes in Karnataka, 3.54 lakh tonnes in Andhra Pradesh and 3.12 lakh tonnes in Rajasthan, the agriculture ministry said in a statement on Thursday. Key Points
Economic TimesGovernment to buy 3 lakh tonnes of onion in Rabi season: Union Minister Piyush Goyal
Union Minister Piyush Goyal on Thursday announced that the government agencies will buy 3 lakh tonnes of onion once the winter harvest starts coming in. Goyal, who handles the Consumer Affairs, Food and Public distribution portfolio, said that last year, the overall buying of the rabi harvest stood at 2.5 lakh tonnes. Key Points
Economic Times
Foodgrain Output Estimated at 154 MT in Kharif Season FY24
The Indian government has projected food grain production to reach 154.19 million tonnes during the kharif season and 155.12 million tonnes during the rabi season in 2023-24. Major agricultural crops include kharif rice, wheat, millet grain, tur, grain, lentil, soybean, rapeseed, mustard, cotton, and sugarcane. Key Points
Economic TimesMedical supplies, disaster relief: India sends planeload of aid to war-torn Gaza
Nearly 6.5 tonnes of medical aid and 32 tonnes of disaster relief material have been sent to Palestinians in Gaza. Key Points
India TodayIndia sends planeload of humanitarian aid to strife-torn Gaza
Nearly 6.5 tonnes of medical aid and 32 tonnes of disaster relief material have been sent to Palestinians in Gaza. Key Points
India TodayChennai, Kamarajar ports aim at handling 100 MT cargo
Chennai Port and its subsidiary Kamarajar Port have set a target to handle 100 million tonnes (MT) of cargo for the current fiscal against 92.45 million tonnes handled in the year-earlier period, said a top official. Key Points
The HinduCentre buys 262 lakh tonne wheat so far this year from farmers at MSP; total payout at Rs 47,000 crore
The Rabi marketing season runs from April to March. However, the bulk of wheat procurement is done between April and June. Wheat is a major rabi (winter-sown) crop. Major contribution in the procurement has come from three states of Punjab, Madhya Pradesh and Haryana, with procurement of 121.27 lakh tonnes, 70.98 lakh tonnes and 63.17 lakh tonnes, respectively. Key Points
Economic Times
Horticulture production in 2022-23 is estimated to be 2.32% higher: Third Advance Estimate
While the production of vegetables is estimated to be 213.88 million tonnes in the year 2022-23, over 209.14 million tonnes of last year due to an increase in potato and tomato output, the data for onions has not been included. Key Points
Economic TimesRecord 330.5 million tonne foodgrain estimated for 2022-23 crop year: Govt
The assessment of the production of different crops is based on the feedback received from States and validated with information available from other sources. This assessment shall undergo further revision over successive estimates based on feedback and inputs. Key Points
Economic TimesNMDC iron ore output jumps 17% in April-Nov 2023 period
India Business News: State-run iron ore miner NMDC Ltd delivered its best-ever November performance with a production of 3.38 million tonnes of iron ore and sales of 3.79 Key Points
Times Of IndiaEnergy PSUs eye 38,000 tonnes per annum green hydrogen capacity
India is placing a big thrust on green hydrogen in its energy transition plan. It aims to develop green hydrogen production capacity of at least 5 million metric tonnes per annum by 2030, which would involve an investment of ₹8 lakh crore. Key Points
Economic TimesConfident of achieving wheat procurement target: Food Secretary
Chopra told the media that nearly 2.5 lakh metric tonnes to 3 lakh metric tonnes of wheat has been procured under the Central pool so far, much of this from Madhya Pradesh. Key Points
The Indian Express
Govt revises down 2022-23 wheat output by 2.19 mn ton to record 110.55 mn ton in final estimate
The Indian government has revised downward its wheat production estimate for the 2022-23 crop year to 110.55 million tonnes, down by 2.19 million tonnes from the previous estimate. Unseasonal rains during harvesting led to some loss, resulting in the downward revision. However, rice production is estimated to reach a record 135.75 million tonnes, coarse cereals production is higher at 57.31 million tonnes, and oilseeds production has reached a record 41.35 million tonnes. Cash crops like sugarcane and cotton also saw increases in production. Key Points
Economic TimesIndia's wheat output to touch new record high at 112.74 million tonnes in 2022-23 despite unseasonal rains
Wheat production had declined to 107.74 million tonnes due to heat wave in key growing states in 2021-22 crop year. Key Points
mintIndia's Maharashtra state to produce less sugar as mills close early
The western state of Maharashtra, which accounts for more than a third of India's sugar output, could produce 10.7 to 10.8 million tonnes in the 2022/23 marketing year that began on Oct. 1, down from an earlier forecast of 12.8 million tonnes, Maharashtra's sugar commissioner Shekhar Gaikwad said. Key Points
Economic TimesCentre estimates 3.79 pc lower kharif rice production at 106.31 million tonnes
New Delhi, Oct 27 (PTI) The country’s rice production is estimated to decline by 3.79 per cent to 106.31 million tonnes in the kharif season of the 2023-24 crop year (July-June) due to poor rainfall in key growing states, according to the Agriculture Ministry’s latest estimates released on Friday. Rice production stood at 110.5 million […] Key Points
ThePrintOnion production to decline in 2023-24: First Advance Estimate
The production of the politically sensitive kitchen staple, onions in the country during the year 2023-24 (July-June)is expected to drop to around 25. 473 million tonnes compared to around 30.208 million tonnes last year due to a lower yield in key producing states of Maharashtra, Karnataka, Andhra Pradesh and Rajasthan, according to First Advance Estimate for the year released by the agriculture ministry on Thursday. Key Points
Economic TimesGovt ready to offload extra 2.5 mln tons of FCI wheat under OMSS in Jan-Mar: Food Secy
New Delhi, Dec 8 (PTI) The government is ready to offload additional 2.5 million tonnes of FCI wheat to bulk consumers during January-March 2024, under the Open Market Sale Scheme (OMSS), in order to boost domestic supply and check price rise, Food Secretary Sanjeev Chopra said on Friday. In May this year, the Food Corporation […] Key Points
ThePrintCentral banks' gold purchases at a record in Jan-Sept
Of the 800 tonnes that have been purchased in the January-September period, 337 tonnes were purchased in the September quarter, more than double the purchases in the June quarter. It is though lower by almost a fourth as compared to the previous year, which was a record high. Key Points
Economic TimesMughal-era practice behind unclear food output estimates?
India's government has admitted that its estimate of wheat output for the 2022-23 season is under dispute, with grain traders arguing that production could not have been more than 102-103 million tonnes, compared to the government's estimate of 112-113 million tonnes. The discrepancy has led to high cereal inflation in the country, despite expectations of falling prices and substantial state-held stocks. The government is now planning to use technology-driven models to improve its crop estimates and ensure more accurate data in the future. | Latest News India Key Points
Hindustan TimesFCI sells 4.29 lakh MT of wheat, 14,760 MT of rice in Bengal through e-auction
Kolkata, Dec 16 (PTI) The Food Corporation India (FCI) has sold 4.29 lakh metric tonnes of wheat and 14,760 metric tonnes of non-fortified rice through 25 open market e-auctions in West Bengal from June to December this year, an official of the agency said on Saturday. FCI Deputy General Manager (West Bengal region) Pradeep Singh […] Key Points
ThePrintAdani Group's $1.1 billion copper project to begin operations from March 2024
Gautam Adani's copper factory in Gujarat will begin operations in March 2024, reducing India's reliance on copper imports and supporting the country's energy transition. The factory, operated by Kutch Copper Ltd, will have a capacity of 1 million tonnes per year in two phases. Key Points
mint
Export ban on wheat to continue in the current year
We will not allow exports of wheat, said Subodh K Singh, additional secretary, department of food, adding that the country is not a primary wheat exporter and has exported wheat only when there's been a surplus. The Centre's procurement of wheat, crucial for keeping its wholesale rates under control, is much below the target of 34 million tonnes despite prices continuing to increase. Key Points
Economic TimesGovt unlikely to permit additional sugar exports this year due to slight fall in production
The food ministry has allowed 6 million tonnes of sugar exports for the current 2022-23 marketing year (October-September). Out of which, about 4 million tonnes have been exported so far, as per the trade report. Key Points
Economic TimesJSW Steel picks Robert Simon as CEO for its American operations
JSW Steel in US has a 1.5 MNTPA (million tonnes per annum) electric arc furnace-based steel-making capacity in Ohio, and downstream product facilities, including a 3-MNTPA hot-rolling mill in Ohio, a 1.2 MNTPA plate mill and a 0.55 MNTPA pipe mill capacity in Baytown, Texas. Key Points
Business TodayGovt sells 3.46 lakh tonnes wheat, 13,164 tonnes rice in open market to check prices
To control the retail prices of rice, wheat and atta, the government is organising weekly e-auctions of both wheat and rice. The minimum and maximum quantity of rice that a bidder can bid has been fixed at 1 tonne and 2,000 tonne, respectively. The bidders can bid in multiples of 1 tonne with respect of rice under OMSS (Domestic). Key Points
Economic TimesIndia sees 25% fall in vegetable oils import in Nov: SEA
India's vegetable oil imports fell by 25% to 11.60 lakh tonnes in November 2023, compared to 15.45 lakh tonnes in the previous year, according to industry body SEA. The country's crude vegetable oils declined by 26.34% to 9.77 lakh tonnes, while refined vegetable oils imports fell by 15.41% to 1,71,069 tonnes. Key Points
Economic Times