Govt secures potassic, phosphatic fertilisers for kharif season: Mandaviya
Asserting that there will not be any shortage of key fertilisers during the upcoming kharif season, Chemicals and Fertilisers Minister Mansukh Mandaviya on Tuesday said the government has secured in advance enough DAP supplies and has also entered into a long term pact with Jordan for import of potassic and phosphatic soil nutrients. Last week, a long term pact was signed between Indian and Jordanian companies for an annual supply of 30 lakh tonnes of rock phosphate used in DAP making, 3 lakh tonnes of potash, 2.50 lakh tonnes of DAP and 1 lakh tonnes of phosphoric acid, for the next five years, he said.
With India securing 30 per cent Di-Ammonium Phosphate (DAP) required for kharif season much in advance and companies told not to buy at higher rates from global market, the minister claimed there was correction in the international DAP prices which declined to USD 920 per tonne from USD 1,030 per tonne during last week.
SLCM to set up 36 new offices in 16 states this fiscal
Sohan Lal Commodity Management Pvt Ltd (SLCML) on Wednesday announced its business expansion plan and said it will set up 36 new offices in 16 states in the current fiscal.
Currently, the company has four offices in Delhi, Bihar and West Bengal.
“The company aims to strengthen its presence pan-India with 36 new offices across 16 states,” SLCML said in a statement.
These offices “Krishi Vikas Kendras” will serve as a connecting thread between the digital application of SLCM and its already present physical network of 9,244 warehouses across India, it added.
India’s y-o-y sugar exports likely to increase by 25%, says ISMA
India’s 2021-22 sugar exports are expected to rise by 25%, according to estimate of industry body Indian Sugar Mills Association (ISMA). India is likely to export 90 lakh tonnes of sugar in the current sugar year, against 71.91 lakh tonnes it exported in the previous year.
In the current season, 521 mills operated against 506 mills which operated last season. As on 15th May, 2022, 405 mills had closed their crushing operations while 116 sugar mills were still operating in the country. However, in the last season 2020-21, 461 mills had closed their crushing operations and only 45 mills were operating on the corresponding date.
“The net sugar production without diversion into ethanol is higher by 58.07 lakh tonnes as compared to last year, higher by about 18%. However, in terms of actual sugar produced after considering diversion for production of ethanol, the difference in sugar production is about 44.06 lakh tonnes owing to higher estimated sugar diversion by about 14 lac tons into ethanol this year,” said ISMA.
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