Agriculture Sector

India to join hands with Argentina for Silo technology

Grain-Silo-TechnologyAfter it was found that millions of tons of food grain were lost because of rotting in Indian warehouses for the lack of proper technologies, the government had decided to take some step.

India will be joining hands with Argentina for developing a new technology for warehousing and also to be able to access the existing ones in the South American nation.

Monsanto Q1 net profit up by 12.5%

Monsanto Q1 net profit up by 12.5%Leading agrochemicals firm Monsanto India has declared its first quarter financial results for the fiscal year 2010-11.

The company has announced that it has registered a net profit of Rs 58.66 crore for the quarter that ended in 30th June, 2010.

This net profit figure has grown up by 12.59 % in this quarter as compared to the same quarter in the previous fiscal. This has been informed by Monsanto India in a filing at the Bombay Stock Exchange.

Bumper food production expected in 2010-11, says pawar

Sharad-PawarEven though his ministership is under threat, Sharad Pawar is sure that this year as the Agriculture Minister will be good. This is what he says when he predicts that the food grain production in India is going to be bumper this year.

Rise in total area under cultivation and the most-expected good rains this year are going to be the factors behind this good news.

It will help in reducing the inflation which is still in double digits and is expected to be above 8 per cent in 2011, as per reports.

Monsanto agrees to pay a $2.5 million fine

Monsanto agrees to pay a $2.5 million fineThe U. S. Environmental Protection Agency said on Thursday that Monsanto Co. Inc. has agreed to pay a $2.5 million fine for distributing a mislabeled pesticide.

The EPA also said that the fine is the largest civil penalty ever levied under the Federal Insecticide, Fungicide and Rodenticide Act.

The EPA further added that the mislabeled toxins were sold and distributed for use on cotton seed and contained genetically engineered pesticides.

Duncan gets approval from board to induct JP Fertilizers

Duncan gets approval from board to induct JP FertilizersThe board of directors of Duncan has given approval for the induction of Jaypee Fertilizers and Industries as a strategic investor.

It is important so that the fertilizer unit of Duncan situated in Panki, Kanpur can be revived and rehabilitated. This is in line with the plans of Duncan Industries as per which it will hive off its fertilizer unit.

Rei Agro net profit rises by 157%

Rei Agro net profit rises by 157%Basmati rice processor Rei Agro has declared its annual financial results for the fiscal year 2009-10. The company has posted a consolidated net profit of Rs 157.16 crore for the year that ended in 31st March, 2010. The net profit was reported to be Rs 60.92 crore for financial year 2008-09.

The net profit figure has grown up by mammoth 157% in this year as compared to last fiscal. So far as the net sales of the firm are concerned, it has gone up to Rs 1,214.29 crore during the January-March period of fiscal year 2009-10. It was Rs 853.69 crore for the same quarter last year.

Monsanto India posts Rs 8.45 crore loss

Monsanto India posts Rs 8.45 crore lossLeading agriculture firm Monsanto India has declared its fourth quarter financial results for the fiscal year 2009-10 and the reports has not been so impressive. The loss record for the company continues. The company has posted a net loss of Rs 8.45 crore for the quarter that ended in 31st March, 2010.

Donald McGauchie to chair AAco

Donald McGauchie to chair AAcoAustralian Agricultural Company, a beef cattle producer in Australia, has found its new chairman of the board in former Telstra chairman and National Farmers' Federation president, Donald McGauchie. Mr. McGauchie is the third person to hold the seat of chairman in AAco in last one year.

However, the confirmation of his appointment is subject to shareholder approval. The annual general meeting of AAco is scheduled to be held on May 19, 2010.

Australian Agricultural Company said today that it has asked Mr. Donald McGauchie to join the board and assume the role of chairman in three months.

Crop planting well ahead of their 5-year historic averages in US

Crop planting well ahead of their 5-year historic averages in USPlanting in corn, sugar beets, oats, rice and spring wheat was well ahead of their 5-year historic averages, the U. S. Department of Agriculture has said.

The USDA said that the 5-year historic average for corn planting for this week of the year is 22 percent of the acreage. At this point this spring, 50 percent of the acreage is planted.

It was also noted by the report that historically, 37 percent of the sugar beet crop is planted by this week of the year. This year, 87 percent is already planted.

As spring weather continued to put planting far ahead of historic averages, Grain futures go down sharply

AgricultureAccording to the official reports, wheat prices fell sharply Monday on the Chicago Board of Trade as spring weather continued to put planting far ahead of historic averages.

Corn was off 3/4 to off 1 3/4, soybeans were off 3/4 to off 2 1/2, wheat was off 15 3/4 to off 17 1/2 and oats were off 2/4 to unchanged.

After the U. S. Department of Agriculture said planting was 50 percent done, compared with a 5-year historic average of 22 percent for this week of the year, Corn futures dropped.

Compared with a historic average of 27 percent Spring wheat planting is 43 percent done.

Monsanto plans to slash prices of GM seeds

Monsanto plans to slash prices of GM seedsThe world's biggest seed company Monsanto Co. is currently mulling over a probable price cut on genetically modified (GM) seeds to boost the acceptability of the new seeds in the global market. The company is aiming at a 15 per cent bottom-line growth in financial year 2011 from increased sales due to the price cut.

The seed grower has reached to such a decision after its discussions with 1200 growers and low sales forecast, Monsanto's Chief Executive Hugh Grant said on Wednesday.

Wheat promotion encouraged in Australia

Wheat promotion encouraged in AustraliaAt a time when the Australian economy is witnessing decent growth and upbeat market sentiment compared to the world and other developed economies, the grains industry is being pushed for adopting a model of promoting wheat.

The Australian economy is attracting investments both from the world as well its own investors.

Agriculture Department expects a growth of 12% in farm income this year

Agriculture Department expects a growth of 12% in farm income this yearThe U. S. Agriculture Department issued crop and trade forecasts in its annual Outlook Forum, this week. According to the USDA, the farm income in U. S. would be increased by nearly 12% and should be around $63 billion in the year 2010 as the economy is seeing a recovery very fast.

Controversy over BT Brinjal continues

Jairam-RameshJairam Ramesh, Environment minister, has put freeze on the commercial cultivation of BT Brinjal which is in contrary to what Union Science and Technology Minister Prithviraj Chavan has stated in his existing research that Bt Brinjal was safe for use.

Chavan is a scientist and also insisted on the setting up of a bio-safety standards regulatory authority. The Indian Government is on the edge of setting up of the National Bio-Technology Regulatory Authority.

U.S. Agriculture Department sets new rules for organic milk & meat

USDA-LOGOThe Department of Agriculture announced new rules regarding organic milk and meat on Friday. The Department is sharpening the standards for organic milk and meat by applying these new rules. The new rules are meant to settle a dispute in the organic agriculture industry over how much time cows at organic dairies must spend grazing on pasture.

Federal agriculture officials said that now the organic milk and meat must come from livestock that graze in pastures at least four months of the year and that 30 percent of their feed must come from grazing as per the new rules. The old rules required only that animals have access to pasture.

Madhya Pradesh ‘NO’ to Genetically Modified crops

Genetically-Modified-CropsThe Agriculture Minister of the state of Madhya Pradesh has said that the Genetically Modified crops have no place in the state. His comments came barely three days before the likely announcement by the centre on the fate of Bt Brinjal.

The minister expressed that he wants his state to emerge as India first "organic farming state" and also said, "I have already written a letter to the Centre against the commercialization of Bt Brinjal in country, as it wasn't good for human health and environment."

Innovations in food processing help farmers in Punjab

Innovations in food processing help farmers in PunjabLudhiana, Jan 10 : The Central Institute of Post-Harvest Engineering and Technology (CIPHET), a premier institute of Indian Council of Agricultural Research (ICAR) in Ludhiana, recently unveiled the latest food processing technologies to produce green chilli powder, guava bars and peanut milk.

Farmers, self-help groups and small entrepreneurs were invited to take a look and to adopt the technologies to process vegetables and fruits.

Government circulates Food Security Bill to states for observation

New Delhi, Dec 4 : The Centre has circulated a draft of the National Food Security Bill to the State governments for their views. The Minister for Agriculture, Sharad Pawar stated this during question hour in the Rajya Sabha today.

Sharad Pawar said that the government is planning a meeting of all the State Chief Ministers in this regard. Talking about the food situation in the country, he said that 16 states were hit by drought and heavy rainfalls affected several other states including Karnataka and Andhra Pradesh.

The Minister for Agriculture said that the government through various central schemes has taken measures to compensate for the losses suffered during the Kharif season.

Oil And Oilseeds Market Watch By Nirmal Bang Securities

 Oil And Oilseeds Market Watch By Nirmal Bang Securities              Soybean futures surged almost 2% during 1st half of the trading session, but it erased its gain during later part of the session as demand was quite on the lower side at major soybean Mandis. CPO futures plunged during last trading session backed by good production estimates for the current year.

Guar, Pulses And Grains Market Watch By Nirmal Bang Securities

Guar, Pulses And Grains Market Watch By Nirmal Bang Securities        Chana futures traded mixed during last trading session as the complex was seen trading in its consolidation phase. Guar complex saw some profit booking during last trading session after a steep rally backed by strong fundamentals.

Chana arrivals are 7000-8000 bags at Delhi's Lawrence Road Mandi. The Spot price is expected to open at Rs. 2270-
80/quintal up by Rs. 10-20/quintal from previous closing Spot price.




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