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Epic Research Daily Agri Commodity Report Of 31 JANUARY 2018

Commodity News

With the huge increase in cultivation of Red Gram in the state and the resultant bumper crop, Telangana government has urged center to increase mprocurement cap from 53,600 metric tonne to 1.5 lakh metric tonne, besides extending the procurement period till March end. For the first time, the Agriculture Department has estimated that Red Gram produce in the State would be around 2.84 lakh metric tonne from 2.95 lakh hectares.

The Indian Pepper and Spice Traders, Producers, Planters Consortium (IPSTPC)-Kerala Chapter has urged the Union Commerce ministry that the Merchandise Export from India Scheme (MEIS) for imported raw material should be given only to the extent of their net export earnings and not on the entire value of export. The Consortium claimed that importers are entitled to the benefit of MEIS 5% from the Centre on the entire value of export which is 115% minimum, while 100% value is already drained out from the country when they imported cheap raw material spices including Pepper. “Thus, the Centre is providing subsidy or incentive to the import value as well, which in turn goes to the farmers, growers, planters of other pepper producing countries,” the Consortium said.

Natural Rubber prices declined 22.15% this week, on a year-on-year basis. This is despite the slowdown in the estate-to-market stock movements, in tandem with the tapering down of the latex production season. Price of the premium RSS-4 grade Rubber at Kottayam market has dropped to Rs 123 per kg this week. In the corresponding week in January 2017, RSS-4 had sold at Rs 158 per kg. “Apparently, the tyre firms have been dipping into Rubber imports to build up their inventory, when the international price is staying lower,” Indian Rubber Growers Association (IRGA) said.

Economic News

Agriculture income may fall by up to 25% in the medium term because climate change will hit crop yields, making it imperative to replace power and fertiliser subsidies by direct income support and to drastically expand irrigation, the Economic Survey said. Agriculture accounts for 16% of gross domestic product and 49% of employment in India, making it crucial in the overall economy, the survey said. "Poor agricultural performance can lead to inflation, farmer distress and unrest, and larger political and social disaffection— all of which can hold back the economy.“In recent years, farmers have suffered because of erratic monsoon rains, unseasonal showers on the eve of harvest and volatile prices, which at times dipped below the support price because of large stocks and good harvests. Lower yields because of high temperature and low rainfall due to climate change will add to their distress.

The Economic Survey has proposed an agricultural policy aimed at integrating women as active agents in rural transformation. The policy seeks to ensure that women farmers get enhanced access to resources such as credit, technology and training at a time when migration of men from rural to urban areas is growing. The survey said a gender-specific intervention to raise productivity of small farm holdings is required, as is engagement of men and women in extension services with gender expertise. "The entitlements of women farmers will be the key to improve agriculture productivity," it said, even as it noted that there is an increasing number of women in multiple roles in agriculture sector, as cultivators, entrepreneurs and labourers. "Rural women are responsible for the integrated management and use of diverse natural resources to meet the daily household needs. This requires that women farmers should have enhanced access to resources like land, water, credit, technology and training which warrants critical analysis in the context of India," it said.

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News Release: Epic Research Daily Agri Commodity Report Of 31 JANUARY 2018
Submitted on: January 31, 2018 04:45:48 AM
Submitted by: EpicResearch
On behalf of: