Commodities

Govt accepts 1 mln tn more rice from Chhattisgarh in central pool

Monday, Aug 3, 2020 By Sampad Nandy NEW DELHI – The Centre has accepted around 1.0 mln tn more rice, procured by the government of Chhattisgarh, in the central pool in the ongoing marketing year, senior government officials said.  This has taken the overall procurement by the Centre in Chhattisgarh to 4.7 mln tn, from over...

Govt may give 128 bln rupee to Uttar Pradesh under farm infra fund

Friday, Jul 31, 2020 By Kaushal Verma NEW DELHI – The government aims to allocate around 12.8% of 1 trln rupees under the agricultural infrastructure fund to Uttar Pradesh, a senior official with the farm ministry said. "The government is targeting...the lion's share at 12,831 crore rupees (128.3 bln rupees) for Uttar Pradesh...," the official...

NAFED extends onion procurement deadline for buffer by a wk to Aug 7

Thursday, Jul 30, 2020 By Kaushal Verma NEW DELHI - The National Agricultural Cooperative Marketing Federation of India has extended the deadline for procuring onion at the market price to build a buffer stock of 100,000 tn by a week to Aug 7, a senior official with the agency said today.  "The agency had fixed the...

Govt likely to set Aug sales cap for sugar mills at 2.05 mln tn

Thursday, Jul 30, 2020 --Source: August sugar sale quota seen at 2.05 mln tn vs 2.1 mln Jul  By Preeti Bhagat NEW DELHI – The Centre may set the cap for sugar that mills can sell in August at 2.05 mln tn, lower than 2.10 mln tn for July as summer demand has waned, a senior government...

NITI Aayog task force recommends scrapping sugar buffer subsidy plan

Wednesday, Jul 29, 2020 By Preeti Bhagat NEW DELHI – A NITI Aayog task force has recommended scrapping of the buffer stock subsidy scheme for sugar on grounds that it incentivises mills to over produce and is an additional expense for the government, a source said. "The maintenance charges given to mills act as an additional expense...

Source says Bengal to seek more food grains for free distribution

Tuesday, Jul 28, 2020 By Sampad Nandy NEW DELHI – The West Bengal government will write to the Centre, seeking excess rice and wheat for free distribution till the end of June next year, a senior state government official said.  Under the Pradhan Mantri Garib Kalyan Anna Yojana, the Centre provides 5 kg of...

MCX considers launching iCOMDEX Bullion Index on Aug 14

Monday, Jul 27, 2020 By Kavita Desai MUMBAI– The Multi Commodity Exchange of India is considering launching the iCOMDEX Bullion Index futures on Aug 14, according to a senior official with the bourse. The Securities and Exchange Board of India has allowed the exchange to start trading for futures contracts expiring in August, September and October on the bullion index. On Jun...

NITI Aayog moots cap on states' rice purchases to check excess stock

Thursday, Jul 23, 2020 By Sampad Nandy NEW DELHI – NITI Aayog has recommended that the government consider state-wise quotas for rice procurement to check rising stockpiles, senior government officials said. The food ministry had sought suggestions from NITI Aayog in view of the rising stocks and stagnant sales from the central pool. Rice...

Traders say maize imports under tariff rate quota unlikely in FY21

Wednesday, Jul 22, 2020 By Sampad Nandy NEW DELHI – India is unlikely to import maize under the tariff rate quota in the current financial year as the landed cost may be higher than spot prices, despite a far lower duty, most market participants believe. The government, in June, had allowed the import of 500,000 tn feed-grade...

After US regulator, EU aviation body to test-fly Boeing 737 MAX

Wednesday, Jul 22, 2020 --EU aviation body: Working with Boeing, US regulator on 737 MAX issue --Agency's 737 MAX test flights delayed due to COVID --Undertaking independent review of Boeing 737 MAX By Dev Kachari NEW DELHI – With US civil aviation regulator Federal Aviation Administration recently concluding its certification flight tests of the Boeing 737 MAX, its...


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