Eyeing the North, FACT to add five lakh tonnes more to its production
The public sector FACT is adding an additional five lakh tonnes fertiliser production to its capacity as part of tapping new markets in West Bengal, Odisha, Maharashtra and Gujarat.
The existing production capacity is nine lakh tonnes and the company is planning to set up a new plant shortly with a focus on expanding its marketing networks to other parts of the country, Kishor Rungta, the Chairman and Managing Director said at a webinar organised by Indian Chamber of Commerce and Industry on the topic FACT – Strategies planned during Covid and post-Covid times for survival.
Rice exports jump 52% in Apr-May
Non-basmati rice exports are seen rebounding this year as the shipments have begun on a strong note registering over 52 per cent growth in the first two months of the current financial year.
Strong demand from traditional buyers in Africa and likely panic buying by some countries even as the Covid-19 pandemic tightened its grip across the world during this period fuelled the rice shipments, exporters said.
Production shortfall not alarming to warrant duty-free import of tea, say industry insiders
All-India tea production during the first half of 2020 (January to June) has slipped by 26.37 per cent to 348.26 million kg, compared 472.96 mn kg in the corresponding period of the previous year.
While the fall appears steep, industry sources contend that the situation is “not alarming” to warrant import of tea at this juncture. “We still have another six months and this drop can be easily recouped,” the source said.