Sale of sugar above monthly quota pulls down sugar prices by 1.5-2% allege traders
Sugar prices have tumbled up to 8% in the domestic market since Diwali due to overselling by mills over their monthly quota, traders and millers said.
They said prices have softened 1.5-2% in the last three weeks alone despite the support from exports as several mills continued to supply sugar above their monthly allocated quota.
Traders said they do not see prices recovering before the end of cane crushing operations in April.
India’s wheat output may set new record of over 112 lakh tonnes in 2022-23: Govt officials
New Delhi: The country’s wheat production is likely to set a new record of more than 112 million tonnes in the 2022-23 crop year (July-June), according to official sources. Wheat production had declined to 106.84 million tonnes due to heat wave in key growing states in 2021-22 crop year, as per the agriculture ministry data.
In 2020-21, the country had achieved record wheat output of 109.59 million tonnes.
“The crop prospect of wheat crop is better due to current weather conditions and slightly higher acreage. The total production is estimated to be more than 112 million tonnes this year,” sources said.
FSSAI releases comprehensive standards for identification of basmati rice
Food regulator FSSAI for the first time has come out with comprehensive standards for the identification of basmati rice as part of efforts to ensure fair trade practices and check adulteration. Basmati rice should have a natural fragrance characteristics of basmati rice and there should be no artificial colouring, polishing agents and artificial fragrances.
These standards, which have been notified, will be effective from August this year.
“For the first time in the country, Food Safety and Standards Authority of India (FSSAI) has specified the identity standards for basmati rice…,” the Health Ministry said in a statement.