Interactive: Why agriculture needs urgent attention from the new govt.

Rajalakshmi Nirmal  Bavadharini K S  | Updated on May 28, 2019  Published on May 28, 2019- Report by The Hindu Business Line

The face of Indian agriculture has changed over the past few years. While the frequency of droughts has increased, production of crops - both food grains and horticulture produce - has hit new records with better irrigation facilities. Output in dairy and fisheries, too, has improved, thanks to hybrid varieties and better feed. But this increase in volume hasn't helped farmers as prices have dropped sharply. India has also been unable to grow its exports. Meanwhile, poor policy planning has led to an increase in imports, resulting in further farm distress. The fate of the farmer depends on how the new government handles various policies.Click here to read more....


Turmeric futures prices improve

Erode, June 13- Report by Business Line

Prices of turmeric in the futures market have increased. At the Erode Turmeric Merchants Association Sales Yard, finger turmeric was sold at ₹ 5,559- ₹ 7,555 a quintal, and the root variety was sold at ₹5,300- ₹ 6,450. A total of 1,332 bags of turmeric arrived for sale, of which 471 bags were sold. At the Regulated Marketing Committee, finger turmeric was sold at ₹ 5,834- ₹7,106 and the root variety at ₹ 5,599- ₹ 6,425. Of the arrival of 533 bags, 312 bags were sold.


Trade row with India hurting US almond growers’

Authorities have predicted a record almond crop for California


Washington, June 18- Report by Business Line

A top US Senator has slammed President Donald Trump for “damaging” trade ties with India, saying his actions are hurting California almond growers who export more than $650 million worth of nuts to the country every year. California Senator Dianne Feinstein’s criticism of the US President came days after India announced a hike in Customs duties on as many as 28 US products, including almond, pulses and walnut, in response to higher tariffs imposed by Washington on products such as steel and aluminium from India. “India just placed a 75 per cent tariff on almonds in response to President Trump’s trade war. His actions are hurting Californians. California almond exports to India are worth more than $650 million a year. The President must stop damaging trade relations with our allies,” Senator Feinstein said. Almond growers in the US are a worried lot as authorities last month predicted a record California almond crop for the upcoming production year. According to the Almond Alliance of California, almond export is badly hit by retaliatory tariffs from both China and India. California almond orchards are expected to produce 2.50 billion pounds of nuts this year, up 8.69 per cent from last year’s 2.30 billion pound crop, it said. The Indian move is also seen as retaliation to Trump’s decision terminating India’s designation as a beneficiary developing nation under the key GSP trade programme after determining that it has not assured the US that it will provide “equitable and reasonable access to its markets“. The suspension became effective June 5. India’s retaliatory tariffs came into effect Sunday. Apple and almond are some of the US agricultural products to be impacted by India’s retaliatory tariffs. The move will hurt American exporters of these 28 items as they will have to pay higher duties. Earlier, the list included 29 goods but India has removed artemia, a kind of shrimp, from the list. The country will get about $217 million additional revenue from such imports. America in March last year had imposed 25 per cent tariff on steel and a 10 per cent import duty on aluminium products. Prior to that there was no duty on these goods. India’s exports to the US in 2017-18 stood at $47.9 billion, while imports were at $26.7 billion. The trade balance is in favour of India.


Tax sops sought to boost investments in corporate bonds, term plans

Financial sector, capital market players seek review of interest on small savings schemes

New Delhi, June 13- Report by Business Line


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