Agriculture Current Affair 19 June 2022

WRMS gets Euro 2.1 mn grant to provide solutions for yield guarantee to small farmers

Weather Risk Management Services (WRMS), an agriculture risk management company, on Tuesday said it has received 2.1 million euros (Rs 17 crore) from InsuResilience Solutions Fund to provide solutions for yield guarantee to small farmers. The company will use the fresh capital to develop and implement the yield guarantee solution to improve the resilience of 1,00,000 smallholder farmers against climate risks and incentivise smart agricultural risk management practices, WRMS said in a statement.

InsuResilience Solutions Fund (ISF), managed by the Frankfurt School of Finance & Management (FS), and financed by KfW Development Bank, signed a grant agreement with WRMS and INGEN Technologies, a data provider of weather stations, to co-fund the project development and implementation of the yield guarantee solution.

The project also aims to scale up the yield guarantee solution for crops such as cotton, chili, paddy, wheat and potato.

Wheat procurement falls short of original target by 57% at 18.7 million tonnes

Wheat procurement by the government is 57.5% less than the original target this season due to higher private trade as well as a dip in harvest.

Food Corporation of India (FCI) has procured 18.7 million tonnes of wheat as on Tuesday, a day before procurement ends for the season, a senior official said.

“The procurement season will end tomorrow,” the official told ET on Tuesday. “However, it will continue for some more time in Uttarakhand, even though there is hardly any wheat coming in in that state.”

With a record sugar production, Maharashtra closes 2021-22 season; next season also expected set a new record

Even as Maharashtra closed its 2021-22 sugar season on Tuesday producing historically highest sugar, the state is already staring at breaking this record in the next season starting October 1, said state’s sugar commissioner Shekhar Gaikwad.

“Maharashtra’s sugar mills have produced 138 lakh tones of sugar, which is the highest quantity ever produced since the inception of the sugar landindustry in the state. The 2021-22 also proved to be the year of longest crushing season, as the mills operated for 240 days,” said Gaikwad

“With this, Maharashtra has surpassed countries like China, Russia, Thailand, Australia become a sugar producing region, which is next only to Brazil,” said Gaikwad.

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