Heavy rains damage crops ahead of harvest, threatening higher food prices
Heavy rainfall in India has damaged key summer-sown crops such as rice, soybean, cotton, pulses and vegetables just before harvesting, which could stoke food inflation in Asia’s third biggest economy, farmers, traders and industry officials said.
Higher food prices could prompt New Delhi to slap additional restrictions on exports of food commodities such as rice, wheat, and sugar, and potentially force the Reserve Bank of India to raise interest rates again.
“There has been so much rainfall from the last one week that now we can see sprouts from the paddy seeds,” said Narendra Shukla, a 36-year-old farmer from Barabanki in Uttar Pradesh.
Value of soya, groundnut, mustard higher among oilseeds
Data in a report show that GVO of soyabean, groundnut, and mustard was above 69.5% in total oilseeds GVO from 2011-12 to 2019-20
Three oilseed crops accounted for more than two-thirds of the gross value output (GVO) among oilseeds for almost the decade between 2011-12 and 2019-20.
Data available in the report titled ‘State-wise and item-wise value of output from agriculture, forestry, and fishing’, published by the National Statistics Office, show that the GVO of soyabean, groundnut, and rape-mustard crops was above 69.5 per cent in the total oilseeds GVO from 2011-12 to 2019-20.
The share of these three crops in total oilseeds GVO was the maximum at 78 per cent in 2018-19. It was at 69.5 per cent in 2015-16. Interestingly, total oilseeds GVO was minimum at ₹93000 crore in 2015-16, and maximum at ₹1.16 lakh crore in 2019-20.
According to the report, groundnut and soyabean accounted for the highest outputs in the oilseeds group of crops in 2011-12, which was almost half of the output of the group. Groundnut and soyabean accounted for around ₹52800 crore of GVO in 2011-12 among the total oilseeds GVO of ₹1.06 lakh crore.
Process started to merge Amul with five other cooperative societies: Amit Shah
Says it will ensure the export of the products after its certification so that profit can go directly into the bank accounts of the farmers
Amul will be merged with five other cooperative societies to form a multi-state cooperative society (MSCS), Cooperation Minister Amit Shah said on Sunday. Addressing the 70th plenary session of the North Eastern Council (NEC) here, Shah said the process for the merger has already started.
“The government led by Prime Minister Narendra Modi is giving priority to natural agriculture and digital agriculture and for certification of natural products, the process to form a multi-state cooperative society by merging Amul and five other cooperative societies has been started,” he said.
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