Chinese business revival to boost global rubber consumption: ANRPC
The Association of Natural Rubber Producing Countries (ANRPC) foresees a marked recovery in global rubber consumption in the third quarter, thanks to the active presence of China in the natural rubber (NR) market.
Chinese manufacturing companies are expected to increase their sourcing in view of the rebound in economic activities, particularly in the automobile sector. China is anticipated to consume 1.38 million tonnes, which nearly matches the quantity of 1.39 million tonnes consumed during the same quarter of the previous year, ANRPC said in its latest report. The volume of import from China is anticipated to increase 6.2 per cent during the third quarter. Chinese imports had fallen 8.1 per cent in the first half (January-June).
Mandi fee cut by Haryana, Punjab to benefit basmati trade
Rice millers and exporters would benefit significantly from a recent move by Haryana and Punjab governments to slash market fee levied on basmati rice by 50 per cent or more.
The decision was announced by respective State governments on Tuesday within two days of the Centre passing a farm Bill that allows direct trade of agricultural produce outside recognised grain mandis across the country without any cess. The move is expected to save hundreds of crores of rupees for agri-business firms dealing in basmati rice.
Gujarat APMC workers fear lay-offs, seek pay-protection
Our Bureau The latest reforms in the agri-commodity trade introduced by the Centre has created a flutter among the employees of Agriculture Produce Market Committees (APMCs) fearing large-scale job-losses. A demand for pay-protection for the administrative staff gets louder as the axe falls on the APMCs.
Raising concerns, Vishal Panchani, Secretary of Gujarat Market Committee Employees Union, said that with reduced incomes for APMCs, the administrative staff may either have to face an axe or a pay cut. The union has sought a pay protection for the employees and also demanded absorption of field staff and inspectors in the State administration.