Government says edible oil prices softening
The government on Thursday said the prices of cooking oils, which rose abnormally in the last one year, have started to soften due to fall in global rates and lower domestic demand. Addressing a virtual press conference, Union Food Secretary Sudhanshu Pandey said there is a declining trend in the edible oil prices as per the futures market rates till December.
He said the government is continuously keeping a watch on prices of edible oil and pulses and will take measures, if necessary, at an appropriate time.
Replying to a query whether the government was considering reduction in import duty of edible oils, Pandey said: “Prices are softening every week. There is a declining trend. Even the futures market prices are showing declining trend.”
Pulses association demands clarification on stock monitoring under EC Act; claims it may hamper trade
Importers of pulses are worried about the use of the Essential Commodities Act by the government to monitor stocks being held by value-chain participants of the pulses industry in order to check rise in retail prices.
The Indian Pulses and Grains Association (IPGA) has claimed that traders are hesitant to import or procure pulses in the domestic market for fear of government action. They have demanded clarification from the government about its intentions regarding use of the Act.
Govt unveils road map to set up centralised farmers’ database
The Centre has unveiled a road map for setting up a centralised farmers database, Agri Stack, as part of its effort to create a digital ecosystem for the farm sector, bringing all agriculture-related information to one platform.
The database will eventually be linked with the land records of farmers across the country, generating unique farmer IDs (like ‘Aadhaar’) for over 14 crore landholding farmers in India. Under Agri Stack, information related to all benefits and assistance provided through various schemes of the government will also be kept at one place.