Food inflation drops below 9%…Fuel inflation up
The annual rate of inflation in the food space decreased below 9% in the second week of September while inflation in the fuel group increased close to 14%, data released by the Government showed on Thursday.
Annual inflation in the Food Articles group fell to 8.84% in the week ended September 10 from 9.47% in the previous week, the Commerce Industry Ministry said in a statement. It was at 16.30% in the corresponding period of last year.
Estimate of Sugar Output to be reviewed on Sept 26
Sharad Pawar, Farm Minister was quoted as saying on September 26 India will review an estimate of sugar output. According to reports, Sugar production in the country may be 24.6mn metric tons in the year starting October, compared with 24.3 mn tons this year. Output may be as much as 26mn tons next year.
In Focus Stories
DIESL conducts tree plantation drive in rural Maharashtra
Drive India Enterprise Solutions Ltd. (DIESL), a Tata group company specializing in logistics, conducted a tree plantation drive in Jarandi, a village in rural Maharashtra. The tree plantation drive is a part of the village adoption program initiated by DIESL last year. Read more…
Govt lifts ban on onion exports
The Government has decided to lift the ban on the export of onions. Onions can now be exported subject to a Minimum Export Price (MEP) of US$ 475 per tonne. This is exactly the position that was prevailing on 8th September 2011, immediately before the ban on the export of onions was imposed on 9th September 2011. Union Commerce Secretary Rahul Khullar said yesterday,” The MEP will be reviewed every fortnight and a close watch would be kept on domestic arrivals, total exports, overall domestic availability and domestic prices”.
Tea imports fall 22% in April-July
Tea imports reportedly went down by 22% to 5.19mn kg in the April-July period of the current fiscal. According to reports, the country had imported 6.62mn kg of the brew in the same period last fiscal. India imports the leaves solely for the purpose of re-export to other countries. The dip in imports is due to less re-exports. Tea imports from China, Kenya, Malawi, Vietnam, Sri Lanka, Iran, Argentina and Nepal declined in the first four months of the 2011-12 fiscal. Tea Imports dipped by 19 per cent in July this year, to 1.67mn kg from 2.06mn kg in the year-ago period. India accounts for about 28% global tea production and 14% of trade, added reports.
Saudi Arabia to import wheat 51% more than in 2009: reports
Saudi Arabia is reportedly expected to import around 2 million tonnes of wheat in 2011, 51% more than in 2009. According to reports, the country accounts for as much as 63% of the Gulf Cooperation Council’s (GCC) $9bn food and beverage market, easily establishing the country as a major business and investment destination for key players in the food production value chain.
Drip Irrigation: A method used to place irrigation water near plants’ roots through pipes or tubes. This reduces water evaporation and runoff, but may not be cost effective for all crops.
Dry Cow: A cow that is not lactating.
Dry Period: A rest period between lactations when a cow is not lactating, normally 60 days in duration.
Dryland Farming: Farming on non-irrigated land. Success is based on rainfall, moisture-conserving tillage, and drought-resistant crops.