Imports to keep maize prices under check
The Centre’s decision to allow import of 5 lakh tonnes of corn at concessional duty of 15 per cent is expected to slow down the pace of recovery in maize prices that had crashed to as low as ₹1,100 per quintal in recent months, after the Coronavirus scare impacted poultry sector badly. Maize had recovered a bit in the past few weeks after poultry sales had seen some recovery in the retail segment
New norms for order-to-trade ratio in algo trades
SEBI on Wednesday put in place a new framework for order-to-trade ratio (OTR) of algo orders placed by stock brokers.
In a circular, SEBI said it has decided to modify existing OTR framework after receiving requests from the stock exchanges.
Under the framework, stock exchanges may be permitted to introduce additional slabs up to an OTR of 2,000 (from existing OTR of 500), and for OTR more than 2,000, such slabs can be introduced with deterrent incremental penalty, which stock exchanges may decide jointly.
Launch food-for-work scheme to use surplus foodgrains: Kisan Sabha tells Centre
The government, saddled with huge surplus stocks of grains, should launch a food-for-work programme to take grains to the needy rather than allowing them to rot in godowns, the All India Kisan Sabha (AIKS) said in a statement on Wednesday.
On June 1, the Food Corporation of India (FCI) had 10.4 crore tonnes of foodgrains. Never before has the government stored such a large quantity of foodgrains. This is 83.3 lakh tonnes in excess of what the government needs for operational and emergency requirements, AIKS, the CPI(M)-backed farmer organisation, said.