Foodgrain output likely to be at 296 million tonnes for 2019-20: 3rd advance estimates
Record production in most crops, barring pulses, in 2019-20 has helped India to have a bumper foodgrains harvest of 295.67 million tonnes (MT), nearly 3.7 per cent more than 285.21 MT produced in 2018-19, according to third advance cop estimates released by Agriculture Ministry on Friday.
Wheat and coarse cereals accounted for much of the increase in production. While wheat output is estimated to be 107.18 MT in the current crop year (July-June) as compared to 103.6 MT in the previous year, coarse cereals production to increase by nearly 4.5 MT to 47.54 MT. The output of rice too scheduled to go up by close to 1.5 MT to 117.94 MT as against that in the previous crop year.
At 33.5 MT, oilseeds production is projected to be 2 MT higher than 31.52 MT in the previous year, whereas pulses production is estimated to increase by 1 MT to 23.01 MT.
Milk co-ops to get up to 4% interest subsidy on working capital
To help milk co-operatives and farmer-owned milk producer companies (FPCs) struggling with excess milk supply following restricted procurement by private dairies, the government on Thursday announced a ₹100-crore interest subvention scheme on working capital.
The scheme announced by the Ministry of Fisheries, Animal Husbandry and Dairying will be operated through National Dairy Development Board and help dairies convert the surplus quantity of milk into high shelf-value products such as milk powder, white butter, ghee and UHT milk, an official statement said.
Arjun Indo Agro Oils to open a 50,000 tonnes capacity refinery in Angre Port
Arjun Indo Agro Oils Ltd, the edible-oil making subsidiary of Kolhapur-based Arjun Refineries, will open an edible oil refining and packaging facility at Angre port in Jaigad located in Maharashtra’s Ratnagiri district. It plans to tap into a potential thrown up by the recent Central government ban on import of refined palm oil, targeting top suppliers Indonesia and Malaysia.
Arjun Indo Agro Oils will lease five acres of industrial backup land from the Chowgule Group-promoted Angre Port Pvt Ltd, which runs the Angre port, for 30 years to build the refinery and packaging unit with an investment of ₹30 crore, Santosh Vasant Shinde, the founder and owner of Arjun Indo Agro Oils told BusinessLine.