NCDEX to launch futures trading on Agridex
The National Commodity and Derivatives Exchange (NCDEX) has launched futures trading on NCDEX Agridex, an agriculture index that seeks to provide a holistic view on various commodities traded on the exchange.
Four contracts expiring in June, July, September and December will be available for trading from May 26.
The return-based index comprises 10 liquid commodities traded on NCDEX. It has commodity-wise and sector-wise floors and caps, with no single commodity or sector dominating the index. Agridex has low correlation with other asset classes and indices. To ensure diversification, no group of related commodities may constitute over 40 per cent of the total weightage in the index.
Skiffing, unfavourable weather conditions to shave 50% off second flush teas this year
The tea industry in North India is likely to lose close to 50 per cent of its prized second flush teas this year due to the unfavourable weather conditions and skiffing undertaken to support growth of the bush.
Second flush is the crop, which is typically harvested between May 15 and June 15.
Skiffing is the light pruning of tea to limit the top growth.
Govt moves to ban 27 pesticides; ‘baffled’ industry says it will oppose the order
After unleashing the agri-marketing reforms through the Atmanirbhar stimulus package, the government, in a surprise move, has proposed to ban 27 pesticides such as Carbendazim and Monocrotophos, which are widely used by the farmers across the country.
The Ministry of Agriculture and Farmers Welfare issued a draft order on Monday banning these 27 pesticides and has given 45 days for the industry and companies manufacturing such chemicals to file their objections, if any.
The draft order – called Banning of Insecticides Order 2020 – prohibits import, manufacture, sale, transport, distribution and use of such insecticides. The pesticides in the proposed list are: Acephate, Atrazine, Benfuracarb, Butachlor, Captan, Carbofuran, Chlorpyriphos, 2,4-D, Deltamethrin, Dicofol, Dimethoate, Dinocap, Diuron, Malathion, Mancozeb, Methomyl, Oxyfluorfen, Pendimethalin, Quinalphos and Sulfosulfuron