Harvesting the fruits of enlightened policies
When the country went into a total lockdown recently following the outbreak of Covid-19, it wrought severe disruption in the economy — and in people’s lives. Millions lost their livelihoods practically overnight, and with it the capacity to feed their families. But what served as a societal shock absorber of sorts was the huge foodgrain stocks held by the state-run Food Corporation of India.
An estimated 81 crore beneficiaries are being provided 5 kg of rice/wheat per person free over and above their monthly entitlement under the Pradhan Mantri Garib Kalyan Anna Yojana.
India’s edible oil imports dip 11% YoY in November-July period
India’s overall edible oil imports for the nine-month period of November- July 2020 (of the oil year November-October) fell 11 per cent over the same period last year after sharp fall in the imports of refined, bleached and deodorized (RBD) Palmolein.
The latest data compiled by the Solvent Extractors’ Association of India (SEA) shows India’s edible oil imports for the nine month at 9,569,336 tonnes as compared to 10,803,777 tonnes in the same period last year, showing a fall of 11 per cent.
Kaveri Seeds Q1 profit rises 28% to ₹295 crore
Kaveri Seeds has posted a net profit of ₹295.29 crore in the first quarter ending June 30, 2020, as against ₹229.57 crore in the comparable quarter last year, showing a growth of 28.62 per cent.
The firm registered sales of ₹719.48 crore in the quarter as against ₹627.57crore in the same quarter last year, a growth of 14.64 per cent.
The earnings per share stood at ₹49.67 for the first quarter as compared to ₹36.37 in the comparable quarter previous year.