Tea exports expected to drop 28% in FY21
Tea exports from India are likely to witness a 28 per cent decline this fiscal, primarily of the orthodox variety, on the back of lower production and higher prices of the CTC (crush-tear-curl) tea.
Anshuman Kanoria, Chairman, Indian Tea Exporters’ Association (ITEA), said that tea exports are likely to be around 180 million kg (mkg) this year as compared to around 250 mkg recorded in FY20, a drop of 28 per cent.
Bayer’s tech tool enables farmers avail cheaper credit
Transparency in transactions brought in through IT interventions is helping farmers, particularly women farmers with small holdings to access cheaper credit.
Bayer Crop Science, which has recently tied up with Axis Bank, has been able to provide to members of its Better Life Farming (BLF) initiative, many of them women farmers, loans at 6 -7 per cent interest as against 26-30 per cent charged by non-banking financial companies (NBFCs), Rohit Maini, Lead of Grower Engagement at Bayer for India, Bangladesh and Sri Lanka told BusinessLine.
To check prices, Centre to import 10 lakh tonnes of potato
The Centre will import 10 lakh tonnes of potatoes at a reduced Customs duty of 10 per cent to meet demand and stem rising prices, said Piyush Goyal, Minister for Consumer Affairs, Food and Public Distribution.
The Centre also plans to import 25,000 tonnes of onions before Diwali in addition to the 7,000 tonnes that NAFED has already procured through private importers, Goyal said on Friday at a press conference.