Agriculture Current Affair 26 August 2020

14 States finalise action plan for agri export policy: Commerce Ministry

As many as 14 States, including Maharashtra, Uttar Pradesh, Kerala, Nagaland, Tamil Nadu and Assam, have finalised the State-specific action plan for agriculture export policy (AEP), while the remaining States are at different stages of finalisation of their respective plans, the Commerce Ministry has said.

Agricultural and Processed Food Products Export Development Authority (Apeda) is engaged with all States and UTs for implementation of the AEP and has also signed MoUs with AFC India Ltd, and National Cooperative Union of India (NCUI), Delhi, to utilise their expertise in the agriculture sector, as per an official release circulated on Tuesday.

FPOs seek MAT exemption to realise ‘full benefit’ from I-T relief

Farmer producer organisations (FPOs) from different States have started approaching the Union Finance Minister to seek exemption from minimum alternate tax (MAT).

A five-year tax holiday, which started in 2018 for FPOs, provided them complete income tax relief; but the law requires them to pay MAT instead.

Wholesale onion prices nearly double as supply declines

Wholesale onion prices have nearly doubled in the past three months as supply has reduced because of excess rainfall in southern India, supply chain disruptions due to the lockdown, higher percentage of rotting produce and distress sale by farmers.

At the benchmark Lasalgaon wholesale market, prices touched 16 per kg on Monday after rising for a fortnight. In some other markets, prices were even higher.