India Agriculture & Food Updates - 13Feb'2015 !

1. INDIA made NFSA (National Food Security Act) applicable to 40% of the population instead of 67% through a high-level committee decision.

2. Stock prices of leading sugar companies have fallen since the July budget with leading producers such as Balrampur Chini Mills, Bajaj Hindusthan and Dhampur Sugar losing 27-35 per cent of their value in seven months.

3. In a move that will bring some cheer to rice exporters, the Finance Ministry has restored duty drawback after a span of nearly seven years. 

4.  Agro-chemicals major Insecticides (India) Ltd on Thursday reported a consolidated net profit of Rs. 8.34 crore for the quarter ended December 31, a 23.2 per cent rise from the corresponding period the previous fiscal when it recorded Rs. 6.77 crore.

5. Farmers now account for just 5% of National Bulk Handling Corp’s ₹6,500-cr business. After becoming an accredited warehouse of the National Commodity and Derivatives Exchange (NCDEX) last month, the National Bulk Handling Corporation (NBHC) will focus on bringing small farmers, who currently account for about 5 per cent of its total business into its fold in the next fiscal.

6.  Spices Board has taken up with Commerce Ministry for imposing minimum import price for cardamom, there by issuing a notification to permit import of small and large cardamom not below the CIF value of ₹500 per kg as well as meeting the quality standards/specification of the FSSAI.

7. According to a Euromonitor report released last month, average unit price of chocolates rose by 9 per cent mainly due to premiumisation.

8. Recognising India as a highly promising market for the food sector, a Dubai export promotion agency has held a networking session to link key Indian suppliers to the UAE.

9. Coca-Cola’s tea & fruit juice combo Fuze Tea likely to hit shops in India in June quarter.

10. The Indian Tea Association (ITA) is set to promote the beverage among youth through carnivals in colleges, beginning with Delhi, National Capital Region, Chandigarh and Kolkata later this month, as the industry lobby seeks to reach out to the consumers that it believes are fast turning to coffee due to its more contemporary image.

11. Online restauarant guide Zomato to start taking online food orders; invests Rs 300 crore ($50 million).

12.  Retail inflation rises to 5.11% in January on costlier food.

13. Germany will help Punjab in promoting organic farming in the state which is considered to be as the foodbowl of the country.

14. Agriculture Insurance Co. of India Ltd. (AICIL) has been introduced to protect agriculture farmers against heavy rain, hailstorm, pests or other natural calamities. Though plantation items like rubber or coffee are covered under the schemes, tea is yet to join the league.

15.  Dhanuka Agritech Ltd today launched herbicide 'SEMPRA' to protect sugarcane crop from weeds.

16. NABARD projects Rs 89,049 crore of credit potential for Haryana and announces Rs 1,14,927 crore credit plan for Rajasthan.