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Epic Research Daily Agri Commodity Report Of 09 FEBRUARY 2018



Commodity News

The government hiked the minimum support price (MSP) for Copra by Rs 1,000 a quintal in the 2018 season to encourage production and productivity of Coconuts in the country. The MSP of fair average quality of ball Copra would go up to Rs 7,750 a quintal against Rs 6,785 a quintal last year, while milling Copra would have an MSP of Rs 7500, in place of Rs 6,500 a quintal in 2017, official sources said. This is expected to ensure appropriate minimum prices to the Coconut farmers and step up investment in Coconut cultivation, they said.

India's Soymeal exports are likely to fall nearly 38 percent from a year ago to 1.25 million tonnes in 2017/18 due to a drop in Soybean production, trade body Soybean Processors’ Association of India (SOPA) said. The country is likely to produce 8.35 million tonnes of Soybeans in 2017/18 marketing season started on Oct. 1, down nearly 9 percent from the previous estimate due to poor weather conditions, SOPA said in a statement. “Lower crop will not affect the domestic availability, hence we have reduced the estimated exports for the oil year 2017-18 down to 1.25 million tonnes against 2 million tonnes last year,” the association said.

Around 40,000 tonnes of Pepper have landed in India through legal and illegal routes in 2017 as against average import of 20,000 tonnes per annum in recent years. The surge in arrivals of Pepper hammered the prices of the indigenous produce by nearly 50 per cent forcing the Centre to fix a minimum import price of Rs 500 a kg. Imports of black Pepper directly from Vietnam were at 16,281 tonnes during January-December 2017, while, according to trade, a total of around 36,000 tonnes arrived in India from Vietnam and Sri Lanka last year through legal and illegal routes.

Economic News

Small Tea Growers(STG) in India have started raising their voice demanding minimum support price for green leaf. The sector that contributes over 35% in national tea yield always remains dependent on others in tea processing chain to maintain own existence. "The greatest challenge of STGs today is the price realization for green leaf. Against our production cost of Rs 15 - 18 a kg,average return we enjoy is Rs 7 - 14 per kg. The situation has pushed STGs to the brink. It's a major threat to national tea arena too as STGs contribute near half of the national yield," said Bijoy Gopal Chakraborty, President, Confederation of Indian Small tea Growers Association. CISTA is the national conglomeration of over 2.5 lakh STGs, each one with less than acre of plantation area. Though the official contribution of STGs to the national yield is around 35%, CISTA prefers putting it in different way.

The Haryana government promised that it would ensure farmers get at least Rs 4 a kilogram for tomato and Rs 5 a kg for onion during the kharif season. The state will support prices of tomato and onion under the Bhavantar Bharpai Yojana, a scheme announced by the Manohar Lal government to cover the price deficit of crops for farmers. Volatile prices of tomato and onion, two essential ingredients in Indian cuisine, have been a major concern for farmers as well as consumers. Farmers often don't get remunerative prices, even when prices rise in the retail level. Under the scheme, the government will compensate farmers if the price drops below Rs 4 a kg for tomato and Rs 5 for onion All district revenue officials have been directed to assist horticulture officers to complete area authentication of farmers registered under the scheme, Abhilaksh Likhi, principal secretary at the state department for agriculture and farmer welfare, said on Thursday.

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News Release: Epic Research Daily Agri Commodity Report Of 09 FEBRUARY 2018
Submitted on: February 09, 2018 04:31:26 AM
Submitted by: EpicResearch
On behalf of: www.epicresearch.co/
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