Page 5 - Agriculture Economy

Bayer, Mitsubishi, Shell, Temasek to generate carbon credits for farmers

Bayer and Mitsubishi are global leaders in the agriculture space while Shell is big in energy

Farmers suggest govt to create 'model farm' to showcase profitable farming

A group of farmers on Thursday suggested the government to create a model farm giving information on ways to make farming profitable even in one to two-and-half acres land. These suggestions were made to Agriculture Minister Shivraj Singh Chouhan during a weekly interaction with the farmers and farm bodies here at the Pusa campus. "Farmers also gave examples of farmers doing profitable farming in one-acre farms," an official statement said. They discussed providing water, use of fertilizers, making the soil healthy, problems due to losses in natural disasters, closure of sugar mills and problems of stray animals, etc. Farmers have also given suggestions for promoting Srianna (millets). The Union Minister promised to consider the suggestions seriously and try to resolve them. He said the matters related to the state government will be sent to the states and the departments will take action on the matters of the central government. Chouhan also thanked Haryana Chief Minister Nayab

Tomato price volatility exposes gaps in India's agriculture supply chain

Among the vegetables that constitute the trio of TOP (tomato, onion, and potato), tomato is believed to experience the most volatility in prices

Safex-backed AgCare Technologies starts online marketplace for agri inputs

Safex Chemicals-backed AgCare Technologies has started an online marketplace 'Golden Farms' to digitise agricultural input supply chain in India. In January 2023, Safex Chemicals invested Rs 100 crore in AgCare Technologies. "Delivering to over 16,000 PIN codes, the mobile app allows customers to procure inputs required in agriculture directly from manufacturers, ensuring better pricing and higher product quality," Safex said in a statement. The platform is set to make the procurement process more streamlined, transparent, and accessible to customers across rural India. Currently, the app offers 22 agrochemical products, with herbicides making up 35 per cent and insecticides accounting for 45 per cent of the portfolio. The platform has already onboarded over 16,000 dealers spread across the country. This extensive dealer network ensures widespread availability of agriculture related products, enabling the company to serve a large customer base. Safex Chemicals Founder-Director S

PM Modi launches Unified Genomic Chip for cattle: How will it help farmers?

PM Modi launched the 'Unified Genomic Chip' to help farmers identify high-quality cattle early, which is aimed at enhancing dairy farming quality in India

PM Modi to release 18th instalment of Rs 20,000 crore under PM-KISAN

Prime Minister Narendra Modi will release Rs 20,000 crore as the 18th instalment of the PM-KISAN scheme on Saturday, benefiting over 9.4 crore farmers across the country. Disbursements will be through Direct Benefit Transfer (DBT) during an event in Washim, Maharashtra, an official statement said. Maharashtra farmers will receive an additional Rs 2,000 crore under the state's Namo Shetkari Mahasanman Nidhi Yojana. With the 18th instalment, the total amount disbursed under PM-KISAN will exceed Rs 3.45 lakh crore, supporting more than 11 crore farmers nationwide. The PM-KISAN scheme, launched on February 24, 2019, provides Rs 6,000 annually to landholding farmers in three equal instalments. Maharashtra has received about Rs 32,000 crore in 17 instalments, benefiting around 1.20 crore farmers, the second highest among all states. Around 91.51 lakh farmers in Maharashtra will receive over Rs 1,900 crore in the 18th instalment. Modi will also launch an indigenous sex-sorted semen ...

Paytm deploys card machines across 42 Krishi Mandis in Madhya Pradesh

For the first time, the Krishi Mandi app in Madhya Pradesh has been integrated with Paytm EDC devices (card machines), marking a pivotal step in the digital transformation of agricultural sales

Paddy procurement at MSP underway in Haryana, over 46,000 MT procured

The Haryana government has commenced paddy procurement at the Minimum Support Price and so far over 46,000 metric tons of the crop have been procured. According to an official statement issued on Tuesday evening, the paddy procurement began from September 27. "Till date, over 46,000 metric tons (MT) of paddy have been procured from 241 mandis and purchase centers across the state, benefiting more than 7,500 farmers," it said. "Today alone, approximately 1,200 MT of paddy was lifted," it said. In addition, the government is ensuring timely payments to farmers, having disbursed Rs 2 crore directly into their bank accounts, according to the statement. From Tuesday, the procurement of bajra has also commenced at the Minimum Support Price. The state government has opened 91 mandis and purchase centres specifically for this purpose, with over 25,000 quintals of bajra already purchased from farmers of the state. The procurement process is running smoothly and is scheduled to continue un

Around 15% of tomatoes go waste at the farm level, 12% at retail: Study

The study conducted by World Resources Institute India (WRI) in the three districts of MP-Dhar, Chhindwara, and Jhabua was released recently

India's foodgrain production hits record 332.22 MT in 2023-24: Govt

India's foodgrain production reached a record 332.22 million tonne in the 2023-24 crop year ended June, driven by bumper wheat and rice output, the agriculture ministry said on Wednesday. The final estimate for 2023-24 shows an increase of 2.61 million tonne from the previous year's 329.6 million tonne, the ministry said in a statement. Rice production touched a record 137.82 million tonne, up from 135.75 million tonne in 2022-23. Wheat output also hit a high of 113.29 million tonne as compared to 110.55 million tonne the previous year. However, pulses production declined to 24.24 million tonne from 26.05 million tonne and oilseeds output fell to 39.66 million tonne from 41.35 million tonne. The ministry attributed the decline in pulses, coarse cereals, soybean and cotton production to "drought-like conditions in southern states, including Maharashtra and prolonged dry spell during August especially in Rajasthan". Sugarcane production decreased to 453.15 million tonne from 490.53

India, US should aim to enhance agricultural productivity: ITC official

India and the US should aim to enhance agricultural productivity, improve food distribution system, and ensure the usage of sustainable practices to strengthen ties in the agri sector, a senior ITC official said. Both countries should leverage their respective strengths and forge strategic partnerships in the sector, ITC Agri Business Division V P Sanjeev Bhat said at an event here. "The US and India should aim to enhance agricultural productivity, improve food distribution system and ensure sustainable food security solution," he said during a panel discussion in the Indo-US Economic Summit organised by the Indo-American Chamber of Commerce (IACC). Now, India majorly exports seafood, rice and plants to the US and this trade is growing at a three-year CAGR of 20-30 per cent, Bhat said. Currently, India and the US do not have any trade agreement, however, starting from January 2024, both countries have established a Trade Policy Forum (TPF) for trade promotions. The US is the secon

Paddy acreage up 2.22% to 41.35 mn hectare so far in this kharif season

Area sown to paddy has increased by 2.22 per cent to 413.50 lakh hectares so far in the ongoing 2024-25 kharif (summer) season, the agriculture ministry said on Monday. In the year-ago period, area under paddy was 404.50 lakh hectares. Sowing of paddy, the main kharif crop, begins with the onset of southwest monsoon from June, and harvesting takes place from September. Additionally, area sown to pulses increased to 128.58 lakh hectare till September 23 of the ongoing season, from 119.28 to pulses in the same period last year, the ministry said in a statement. Area sown to 'arhar' and 'moong' reported higher area at 46.50 lakh hectare and 35.46 lakh hectare, respectively, while area under urad was slightly lower at 30.73 lakh hectare so far in the current season. Area under coarse cereals and 'Shree Anna' (millets) increased to 192.55 lakh hectare from 186.07 lakh hectare in the year-ago period. Among coarse cereals, area under maize rose to 88.06 lakh hectare from 84.65 lakh ...

Policymaking is nothing if not about trade-offs: CEA V Anantha Nageswaran

During his speech on policymaking at the launch of the Isaac Centre for Public Policy (ICPP) by Ashoka University in Bengaluru, Nageswaran emphasised the role of researchers

Balancing act in agriculture: Markets must be allowed to function

Recent policy changes like adjusting agri export prices and import duties will benefit producers. But consistent, well-thought interventions remain crucial for market development and price stability

Uttar Pradesh govt to acquire paddy worth Rs 16,000 cr this kharif season

The procurement is scheduled to commence from October 1 and continue till February 28, 2025, starting from Western UP and gradually covering the eastern part

Infrastructure, agriculture key focus areas of 100 days of Modi 3.0

The BJP-led NDA government has approved infrastructure projects worth Rs 3 lakh crore, including linking 25,000 unconnected villages to road networks and building a mega port at Wadhawan in Maharashtra, during its first 100 days in office. Besides infrastructure, the focus of the government has also been on agriculture by increasing the minimum support price (MSP) for Kharif crops, removing of minimum export price (MEP) on onions and basmati rice and hiking the duty on the import of crude palm, soybean and sunflower oils. Prime Minister Narendra Modi assumed office for the third consecutive term on June 9 this year. The thrust of the Modi government has been on providing stability on the policy front with a flexible approach to adopt certain changes to remove teething problems without diluting the original concept. A case in point is the Goods and Services Tax which has undergone 140 changes to reduce friction. The government approved the Wadhavan Mega Port in Maharashtra for Rs .

Replacing rice crop could help recover groundwater lost since 2000: Study

Replacing about 40 per cent of the area sown with rice with other crops could help recover 60-100 cubic kilometres of groundwater lost since 2000 in north India, a study has found. Current cropping patterns -- dominated by rice, which relies heavily on groundwater for irrigation -- could result in a loss of about 13-43 cubic kilometres of groundwater if warming of the planet continues, a team of researchers, including those from the Indian Institute of Technology Gandhinagar, Gujarat, said. The researchers proposed shifting from existing cropping habits by cutting down on cultivating rice as a potential solution for sustaining the fast-depleting resource in a warmer world that threatens food and water security. "Replacing 37 per cent area of rice with other crops can recover 61 to 108 cubic kilometres groundwater compared to 13 to 43 cubic kilometres with current cropping pattern under the 1.5-3 degrees Celsius global warming levels," the authors wrote in the study accepted for ...

PM Modi lauds change in agri export policy, says will boost farmers income

Prime Minister Narendra Modi on Saturday lauded recent changes in agricultural export policies, stating that easing export norms on basmati rice and onions, and increasing import duties on some edible oils will boost farmers' incomes and create rural jobs. On Friday, the government scrapped a USD 950 per tonne minimum export price (MEP) for basmati rice and removed a USD 550 per tonne MEP on onions, according to government statements. The government on Saturday raised import duty on crude palm oil to 20 per cent and on refined sunflower oil to 32.5 per cent, aiming to support domestic oilseed farmers and processors. In a post on X, Modi said the government is leaving no stone unturned to support farmers who work tirelessly for the country's food security. "Whether it is reducing the export duty on onions or increasing the import duty on edible oils, many such decisions are going to greatly benefit our food producers. While these will increase their income, employment opportunities

India leads with world's largest food-based safety net programs: MoS Agri

India is committed to developing resilient agricultural systems and ensuring food security on the global stage, Minister of State for Agriculture & Farmers' Welfare Ram Nath Thakur said. He made the remarks while representing India at G20 Agriculture Ministerial Meeting in Cuiab, Brazil on September 12-14, 2024. India also emphasized enhanced international trade's contribution to food security at the meeting. "Our approach not only focuses on productivity but also ensures economic, social, and environmental sustainability, enhancing farmer prosperity and embodying a comprehensive vision for development," an official statement quoted him as saying. The minister also pointed to India's implementation of "the world's largest food-based safety net programmes" to ensure food security and nutrition. He stressed the need for Special and Differential Treatment for developing and least-developed countries, particularly to empower small and marginal fishers, the statement said. "This is ..

Sowing area swells to 109.23 mn hectares but floods pose risk to yields

As of September 6, improved monsoon rainfall has boosted Kharif sowing to 109.23 million hectares, the data released by the Centre showed