BeAM inks pact to enhance smallholder farmers’ income in Maharashtra
BSE E Agricultural Markets (BeAM) on Tuesday signed a pact with Haridra Lakshmi to enhance the smallholder farmers’ income in Maharashtra. In this regard, the two entities have signed a memorandum of understanding (MoU), BSE said in a statement.
Leading stock exchange BSE in December 2020 launched BeAM, an electronic spot platform for agricultural commodities.
The MoU aims to bring the benefit of globally competitive market technologies to enhance the efficiency of physical markets represented by these institutions in areas such as knowledge sharing, education and training and related events, the exchange said.
Cotton industry is trying to poach farmers to increase acreage as farmers may opt for edible oils due to record prices
A rally in both cooking oil prices, including soybeans and cotton, to a 11-year high has worried cotton traders that acreage for cotton could fall as farmers choose the smaller crop cycles of oilseeds and pulses. However, production cost of soyabean is less as farmers use their own seeds. Besides, pesticide and labour costs are also lesser in soyabean as compared to cotton.
Govt hikes paddy MSP by Rs 72/qtl to Rs 1,940 for 2021-22 crop year
The government on Wednesday raised the minimum support price (MSP) of paddy marginally by Rs 72 per quintal to Rs 1,940 per quintal for the 2021-22 crop year, while the rates of other kharif crops were also hiked.
Paddy is the main kharif crop, the sowing of which has begun with the onset of the Southwest monsoon. The Met Department has projected a normal monsoon for the June-September period.
The decision taken by the Cabinet headed by Prime Minister Narendra Modi will help farmers take a call on which kharif (summer) crop to grow as sowing picks with the spread of the Southwest monsoon.