Agriculture Current Affair 8 December 2022

India will steer celebration of International Millet Year 2023, says Prime Minister Modi

India will steer the celebration of International Millet Year 2023 and organise campaigns to promote the cultivation and consumption of nutri-cereals, Prime Minister Narendra Modi said. The Prime Minister’s message was conveyed at the opening ceremony for the International Year of Millets (IYM) – 2023 organised by Food and Agriculture Organization (FAO) of the United Nations in Rome, Italy, according to an official statement.

An Indian delegation led by Shobha Karandlaje, Minister of State for Agriculture, was present at the opening ceremony.

During the event, India’s ceremonial message by Prime Minister Narendra Modi was conveyed by Shobha Karandlaje.

Agriculture sector remains resilient; Rabi sowing got off to a strong start: RBI

Reserve Bank Governor Shaktikanta Das on Wednesday said the agriculture sector remains resilient, and the rabi sowing has got off to a strong start. However, India is expecting some moderation in kharif production due to uneven rainfall.

India’s total kharif crop production is estimated to moderate to 149.92 metric million tonnes (MMT) from 156.04 MMT in the previous kharif crop year, as per the first advance estimate.

On the supply side, Das said, “The agricultural sector remains resilient. Rabi sowing got off to a strong start. The area sown so far is 6.8 per cent higher than the normal sown area (as on December 2, 2022)”.

Bulk tea prices seen higher amid supply hit, ICRA says

Rating agency ICRA, in its latest quarterly report on bulk tea, has highlighted that three consecutive years from 2020 to 2022 of sub-normal production, along with a higher volume of export from India are expected to result in a significant tightness in pipeline stock, which is likely to provide some support to bulk tea prices going into the new season.

The economic crisis in Sri Lanka has led to a production loss in the island nation, the largest exporter of orthodox (ODX) tea globally. This has kept the supply tight in the international market in CY2022, which not only led to higher volumes of export from India but also drove the prices of ODX tea in the domestic market upward.

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