Agriculture

Mushroom farming becoming popular in Himachal

Mushroom farming becoming popular in HimachalSolan (Himachal Pradesh), Apr 22: Mushroom farming is getting popular in Himachal Pradesh as many farmers are switching over to it.

The educated youth in Solan district of the state are also adopting mushroom farming as it is adding to their financial strength.

According to farmers, they are earning a good amount of money from mushroom farming which is a low cost affair and is thus profitable.

NCDEX and MCX impose additional margins on potato futures

NCDEX and MCX impose additional margins on potato futures In its endeavor to overcome volatility in potato futures trade, National Commodity and Derivatives Exchange (NCDEX) and Multi Commodity Exchange (MCX) of India have imposed a 10 percent additional margin on sale positions and 15 percent margin on buy positions.

While the MCX margin order takes effect from April 18; an unnamed official said that the NCDEX margins "will be effective from April 21."

SBI extends loans offer for farmers till September 30

State Bank of IndiaThe country's largest lender, State Bank of India (SBI) has decided to extend the period of its concessional financing to the farmers against warehouse receipts by five months to September 30, 2009.

It should be noted that the state-run lender in February this year had started offering loans at a concessional rate of 8% to farmers against cold storage and warehouse receipts, in a bid to save them from falling prey to distress sale of their farm produce.

Earlier this week, the lender has extended its special home and car loans scheme last week at 8 per cent and 10 per cent respectively, for the first one year, till September

RCF inks pact with Future Products to setup Joint Venture Company

RCF inks Rashtriya Chemicals and Fertilizers Limited (RCF) has informed that the company has undertaken a project to manufacture Wall panels, putty and other related products by using Gypsum.

The company officials said in a communiqué that the project is in final stage of completion and the plant is likely to start production by end of April, 2009.

In addition, the company to market these products has signed an agreement with Future Products Pvt. Ltd, to set up a Private Limited., Company (JVC).

Facing space crunch to store food grain, Punjab sends SOS to Centre

Punjab is reeling from an unusual crisis. The state doesn't have enough space to store the bumper food grain crop it reaps every year.

In the last couple of years, stocks have piled up and there is no space to preserve wheat, for which procurement will commence in the first week of April.

The state proposes to procure 125 lakh tonnes of wheat this season and has sent an SOS to the Centre that unless adequate space is made available, the exercise could be jeopardised.

SC orders prompt compensation for farmers

Apex court calls for appropriate rehab of displaced farmers

Expressing concern about the plight of many farmers who are left litigating with the government to claim compensation for acquired land, the Supreme Court told the authorities to ensure "prompt payment of realistic compensation to" and "appropriate rehabilitation measures" for aggrieved peasants.

"Having lost his land, and consequently the means of livelihood, the land loser had to engage a lawyer and wage a legal fight for a reasonable compensation," a bench of Justices RV Raveendran and JM Pachal said while scrapping a Karnataka government appeal challenging the high court's appeal ruling that enhanced compensation to a farmer from Rs5,300 an acre to Rs40,000.

CAB fears decline in cotton production, revises estimates

CAB fears decline in cotton production, revises estimatesThe Cotton Advisory Board (CAB) revised the production and demand estimate for the crop season 2008-09 in a meeting held in Mumbai on Friday, confirming the impact of global slowdown on cotton economy and impact of erratic rain and pest problem on the crop.

Hundreds of angry Crete farmers remain at Athens port a second day

Hundreds of angry Crete farmers remain at Athens port a second dayAthens - More than 1,000 farmers from the southern Mediterranean island of Crete remained camped out at Greece's main port of Piraeus on Tuesday for the second day, determined to drive their tractors in protest through Athens demanding financial help.

The farmers, along with their farm equipment and tractors, arrived in Athens on three vessels from Crete Monday and ended up scuffling with riot police at the port after they prevented them from off- loading their tractors.

Government revises wheat MSP to Rs 1080/quintal

Government revises wheat MSP to Rs 1080/quintalThe Union Government has finally announced hike in minimum support price of Wheat to Rs 1080 per quintal, ahead of harvesting season of rabi crops. The decision, to revise MSP, was taken in the recent meeting of the Cabinet Committee on Economic Affairs (CCEA) on Wednesday, chaired by Finance Minister Pranab Mukherjee, in the absence of Prime Minister Manmohan Singh. The hike of 8 per cent in wheat prices, despite reservation by Planning Commission and Finance Ministry, would effective on crop marketed from April onward.

eGoM to lift ban on premium non-basmati export

eGoM to lift ban on premium non-basmati export

The empowered Group of Ministers (eGoM) will have a meeting on Monday to decide upon the lifting up the ban on premium non- basmati rice varieties. The decision comes in the wake of lowering prices of rice world over recently and the dire need to uphold the nation’s position in the world market.

Japan to return tainted rice to exporting nations

Japan to return tainted rice to exporting nationsTokyo - The Japanese government plans to return imported rice to exporting nations if it is found to be inedible, Agriculture, Forestry and Fisheries Minister Seiichi Ota said Friday.

Japan's decision followed recent cases in which a Japanese company sold rice imported from other nations, including Vietnam, China and Thailand, that was tainted with mould or contained pesticide beyond a legal limit for edible use.

The firm bought the rice from the Japanese government for industrial use but sold it to make sake rice wine, distilled liquor or sweets.

Rice institute receives 500,000-dollar research donation

International Rice Research InstituteManila - The International Rice Research Institute (IRRI) said Tuesday it has received a donation of 500,000 dollars worth of materials that would boost research for cheaper and high-yielding rice varieties.

The Philippines-based institute said the donation pack from 5 PRIME, a Germany-based biotechnology company, includes technologies and reagents for DNA isolation, amplification and molecular analysis.

Aries Agro opens first Bio-Fertilizer manufacturing unit; Stock gains 6%

Aries Agro opens first Bio-Fertilizer manufacturing unit; Stock gains 6%Mumbai-based Aries Agro Limited, a manufacturer of plant nutritional products has introduced new range of specialty plant nutrition products under its umbrella with the opening of its first Bio-Fertilizer manufacturing unit at Ahmedabad. The new plant, which has been built with an investment of Rs 2 crore (excluding land cost) will manufacture mainly two world class specialty plant nutrition products, AQUAPHOS - Phosphate Solubilising Microbes (PSM) and NITROFIX - Nitrogen Fixing Bacteria (Azotobactor) both in liquid form.

Gujarat Narmada Valley Fertilizers to spend Rs 3000 crore on capacity expansion plans

Gujarat Narmada Valley Fertilizers to spend Rs 3000 crore on capacity expansion plansFertilizers and chemicals major Gujarat Narmada Valley Fertilizers Company Ltd (GNFC) plans to infuse around Rs 3,000 crore over a period of three years for its various capacity expansion plans, which includes setting up three new plants at Bharuch. The company would fund these expansion projects through its internal accruals and debt. The company has already received approvals and licenses for the three new plants.

Vietnam scraps rice export tax to boost sales

HanoiRice - Vietnam waived an export tax on rice and ordered the state rice cartel to boost purchases in an effort to raise sales abroad and reduce a surplus that has hurt farmers' incomes, officials said Friday.

A decree issued Thursday by Prime Minister Nguyen Tan Dung orders Vietnam's state-owned food companies, which control the country's rice exports, to buy between 400 and 500 thousand tons of rice in August, and "to make sure that farmers make profits of 40 per cent or more."

Basant Agro acquires SSP Plant in MP

Basant Agro acquires SSP Plant in MP

Mumbai based Basant Agro Tech India Limited has informed that the company has acquired the Single Super Phosphate fertilizer (SSP) plant in Madhya Pradesh having installed capacity of 75,000 TPA of SSP fertilizers and 50,000 TPA of NPK Mixture Fertilizers.

However, the total cost consideration for this acquisition remained undisclosed. The possession of the said plant was taken by Company Director Ashwin Bhartia.

With this acquisition, the total installed capacity of the company has gone up to 195,000 TPA of SSP fertilizers.

Jain Irrigation inks MoU with Government of Mahrashtra; to invest Rs 550 crore

Jain Irrigation inks MoU with Government of Mahrashtra; to invest Rs 550 crore

Jain Irrigation Systems Ltd., the agri-irrigation leader has signed a Memorandum of Understanding (MoU) with the Government of Maharashtra.

Under the pact, the company will setup two Mega Projects with an estimated investment of Rs 550 crore covering agro based and related products in the industrially backward district of Jalgaon.

The MoU was signed between Anil Jain, managing director, Jain Irrigation and Azeez M Khan, principal secretary (industries).

Tata Chemicals and Total Produce JV “Khet Se Agriproduce” starts business in Punjab

Tata Chemicals and Total Produce JV “Khet Se Agriproduce” starts business in Punjab

Khet-Se Agriproduce India Pvt. Ltd, a joint venture of Tata Chemicals and Irish agri-products distribution firm Total Produce, has launched its wholesale business in Punjab.

The new business to business (B2B) firm, Khet-Se Agripoduce India, involves in procurement, packaging and distribution of fresh fruits and vegetables.

Agri-funds sprouting in Singapore

Singapore - Soaring prices for agricultural commodities are whetting investors' appetites for agri-funds that have been sprouting in Singapore, news reports said on Monday.

At least four investment funds launched in the past week have offered exposure to the performance of such markets as rice, wheat and soya, The Straits Times said.

Among them are Barclays Global Agriculture Delta Fund and BNP Paribas Agriculture fund, available to retail investors for a minimum 1,000-Singapore-dollar (740-US-dollar) investment.

Merrill Lynch is distributing its Citrine Agriculture Booster Notes, linked to six indexes. At least three private banks recently launched their own products.

DCM Shriram acquires Shri Ganpati Fertilizers

DCM Shriram acquires Shri Ganpati Fertilizers

DCM Shriram Consolidated Ltd, one of the country’s leading diversified company, has entered into agreement with Shri Ganpati Fertilizers Ltd, Jaipur (SGFL) to acquire 81.41% of the total equity shares of SGFL.

With the acquisition, SGFL will become the subsidiary of the company. However, DCM Shriram has not disclosed any financial details regarding the deal.




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