Agriculture Current Affair 12 July 2020

‘R&D is the way forward for a robust agriculture sector’

Stagnant yields, malnutrition, abiotic and biotic stresses and climate change will be the greatest hurdles for us in the next 10-20 years which cannot be surmounted without stepping up our research efforts.

Research in seeds is a process that requires long gestation investment and commitment to develop new products suiting the market. Deregulation cost for biotech traits and their stewardship costs are significantly high. Income Tax benefit for 200 per cent of research investments is to be restored for the seed industry.

Cotton trade body alleges USDA to issue misleading stock figures

Cotton trade body Cotton Association of India (CAI) has raised serious objection over the US Department of Agriculture’s (USDA) assessment of India’s cotton stock positions alleging a misleading portrayal of India’s cotton market in the international market.

In its India-specific Cotton and Product update for June 2020, the USDA has estimated a cotton carryover stock of 19.8 million US bales (each of 480-lb) as on July 2020. This works out to an equivalent to about 244 lakh bales (of 170 kgs each). The CAI termed it ‘astronomically high’ figure from the reality.

CTTA H1 auction earnings drop 15%

Tea producers and traders who operated through the auctions of Coonoor Tea Trade Association (CTTA) have lost 14.84 per cent in the first half of current calendar (H1) as compared to the same period the previous year. This happened because a total of 26 lakh kg tea was not sold despite the producers slashing the price by 5.91 per kg, reveals our analysis of the Market Reports. Till June end, a total of 2.51 crore kg was sold as against 2.77 crore kg during Jan-June 2019. The cancellation of some auctions due to the lockdown led to reduced sales this year. With reduced sales at lower price, the overall earnings in H1 dropped to 231.45 crore from  271.79 crore in Jan-June 2019. This marked a fall of 40.34 crore or 14.84 per cent.

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