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"Subsidy is expected to be lower this year because of fall in global prices. We have not increased retail prices to reduce subsidy," he said, adding that subsidy bill is estimated around ₹1.7-1.8 lakh crore. from Agriculture-Economy-News-Economic Times https://ift.tt/qpbjL26

Maize prices in India have surged by 20% in the first two weeks of January compared to October due to increased demand after the government's plans to procure the commodity for ethanol production. This move comes as restrictions are placed on using sugar for biofuel production. The prices are expected to stay firm in the coming months, and there could even be a shortage of the commodity. from Agriculture-Economy-News-Economic Times https://ift.tt/CyLrR82

Interim Budget: India plans to allocate about 4 trillion rupees ($48 billion) for food and fertiliser subsidies in the next fiscal year. The Ministry of Consumer Affairs, Food and Public Distribution estimates the food subsidy bill to be 2.2 trillion rupees, a 10% increase from the current fiscal year. Additionally, the fertiliser subsidy for the next fiscal year is expected to be 1.75 trillion rupees. Prime Minister Narendra Modi is expected to win a third term in the upcoming elections. Maintaining the subsidies is crucial for managing India's fiscal deficit. from Agriculture-Economy-News-Economic Times https://ift.tt/MI8SeiJ

While recognising the fact that such access arrangements can help some members generate revenues, especially in some developing countries, including poorer nations, India said that excluding subsidies arising from the further transfer of access rights to their vessels is like a "blank cheque" to distant water fishing nations that fish in other country's exclusive economic zone or high seas. from Agriculture-Economy-News-Economic Times https://economictimes.indiatimes.com/news/economy/agriculture/india-asks-wto-to-weigh-carve-out-for-poor-fishing-nations/articleshow/106906844.cms

Warehousing company SLCM Group has launched Krishi Quality Janch Kendra, an AI/ML empowered solution for checking food grain quality. The company aims to establish 600 more Krishi Quality Janch Kendra centres across India. The centres provide a quality check report for grains in just minutes, reducing the time and cost for farmers and traders. from Agriculture-Economy-News-Economic Times https://ift.tt/NBFImw2

India's trade minister predicts a rise in agricultural exports in fiscal 2023/24 despite restrictions on wheat, rice, and sugar. The country, the world's second-largest producer of these commodities, restricted exports last year to control rising domestic prices. Despite these restrictions, India expects a $53 billion increase in agri exports this year. from Agriculture-Economy-News-Economic Times https://ift.tt/h9va2D1

India does not intend to import wheat as it expects a record wheat harvest of around 114 million metric tons, according to Trade Minister Piyush Goyal. Despite earlier restrictions on wheat exports, India has sold approximately 6 million metric tons of wheat to local buyers since June 1, with state warehouses likely to maintain inventories above the 7.46 million metric tons target when the new marketing year begins on April 1. from Agriculture-Economy-News-Economic Times https://ift.tt/HoIkWCa

India's masur production is expected to reach an all-time high of 1.6 million tonnes in the 2023-24 rabi season due to increased acreage, according to Consumer Affairs Secretary Rohit Kumar Singh. The country, the world's largest producer and consumer of pulses, imports certain pulses like masur and tur to meet domestic shortages. from Agriculture-Economy-News-Economic Times https://ift.tt/zS1ENbW

Gadkari said that in the last 10 years, the sugar mills have generated revenue of more than 940 billions Rupees from the sale of ethanol. "The production of ethanol has led to reduction in import of crude oil, which has resulted in saving of valuable foreign exchange for India. In the last year only India has saved about 243 billion Rupees of foreign exchange and improved India’s energy security scenario," he said. from Agriculture-Economy-News-Economic Times https://ift.tt/UkD6zCO

Shipments of the two soft oils that are mostly consumed in the country during the winter season are delayed by a month as container shipping giants, including Maersk and Hapag-Lloyd, are taking a longer route around Africa due to attacks on commercial vessels by Houthi militants in Yemen in the Red sea. from Agriculture-Economy-News-Economic Times https://ift.tt/iprxwVl

Several sugar firms have approached various courts seeking a stay on the Centre's December 7 order prohibiting mills from producing ethanol from sugarcane juice in the 2023-24 season. In the absence of a caveat, the courts can pass a stay order without hearing the government, explained the official cited above. The Centre issued the ban to keep a check on rising sugar prices in the domestic market despite restrictions on exports due to lower sugarcane yield in main producer states of Maharashtra and Karnataka. from Agriculture-Economy-News-Economic Times https://ift.tt/b9Kjwph

Due to erratic rainfall in the last few months, lower reservoir levels, and restrictions on exports, the sowing of rabi onions has fallen down by 10 to 15 per cent. While there are a few days still left before the sowing window draws to a close, industry experts said there could be a 10-15% drop in the acreage of onion this season. from Agriculture-Economy-News-Economic Times https://ift.tt/lTGJDsp

India's trade minister predicts a rise in agricultural exports in fiscal 2023/24 despite restrictions on wheat, rice, and sugar. The country, the world's second-largest producer of these commodities, restricted exports last year to control rising domestic prices. Despite these restrictions, India expects a $53 billion increase in agri exports this year. from Agriculture-Economy-News-Economic Times https://ift.tt/Vr960Gb