Tuesday, 3 March 2015

India Agri & Food Updates - 04March'15 !

1. Sugar mills in India produced 194 lakh tonnes (lt) of the sweetener up to February 28, about 23.6 lakh tonnes more than at the same time last season (October-September), as per the estimates released by the Indian Sugar Mills Association (ISMA).

2. The rabi crop faces a serious weather risk (western disturbance)on the eve of harvesting as five more bursts of unseasonal rain are forecast in the weeks ahead, putting further pressure on farmers as stormy weather in the past few days has damaged crops worth thousands of crores.

3.  The state-run Coffee Board proposes to formulate an action plan to assist bankers recover the overdues from growers in Karnataka, who of late have not shown interest in repaying their loans despite the commodity fetching higher prices.

4. As per Industry body Assocham, Andhra Pradesh needs policy on supply lines for perishable agri-products to leverage the state's established strengths in the food processing sector.

5. Fresh enquiries for bulk exports of coconut oil have revived hopes among traders for the forthcoming harvest season.

6. According to Coconut Development Board officials, exports of virgin coconut oil to the US have shown an unprecedented increase in December, while movement of fresh coconuts to GCC countries and dry coconut to Pakistan are on the rise.

7. Storage losses for agricultural products in India account for approximately 10 per cent of the entire goods. According to a FICCI study conducted on SLCM’s systems and processes “AGRI REACH” (Patent Pending) , using scientific processes for managing storage and agri logistics in existing structures can reduce storage losses to 0.5 per cent, translating into a saving of $13 billion or roughly Rs.80,000 crore every year.

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