Onion prices likely to remain at higher trajectory this festive season: Crisil
The onion prices are expected to remain at a higher trajectory during October-November, as erratic monsoon may lead to an eventual delay in harvest, according to a report by Crisil NSE 0.93 % Research. Delay in arrival of the Kharif crop and shorter shelf life of the buffer stock because of Cyclone Tauktae are likely to fuel a rise in prices, it added.
“There is likely to be an increase of more than 100 per cent in onion prices this year as well, compared with 2018. Prices are expected to cross Rs 30 per kg for Kharif 2021 because of the challenges faced in transplanting the crop in Maharashtra, though this will be slightly lower year-on-year (1-5 per cent) on a high base of Kharif 2020,” the report noted.
Onions prices are likely to remain at a higher trajectory during October-November following delay in crop arrivals due to rainfall deficit as August, the key month for transplantation, did not see any recovery in monsoon, the report said.
Soyabean cultivation area 6.5% less than government estimate
Industry body Soyabean Processors’ Association (Sopa) has pegged the area under soyabean cultivation at 6.5% lower than the government estimate, but said the area is similar to previous years.
The area is similar to previous years, and the final production of crop will depend on weather in the harvest months of September and October, industry insiders said.
As against the government estimate of 123.6 lakh hectare, Sopa has estimated the current kharif area for soyabean at 115.5 lakh hectare.
Govt enhances scope of MTA scheme for agri exports
The government on Friday enhanced the scope of Transport and Marketing Assistance (TMA) scheme for specified agriculture products by including dairy products under its purview and increasing the rates of assistance.
The scheme has been extended till March 31, 2022, according to an official statement.
Enhanced assistance under the revised scheme is expected to help Indian exporters of agricultural products to meet rising freight and logistics costs, the statement said.
