Agriculture Current Affair 15 March 2021

India, China voice same agri concerns at WTO

India and China have called upon World Trade Organization (WTO) members to address long-pending concerns over public stockholding and special safeguard measures, to check against surge in farm imports, on priority, as member countries sought to bridge differences ahead of a meeting of ministers later this year.

During a special meeting on Wednesday, India highlighted the need to find a permanent solution to public stockholding of foodgrains, an issue which it fears could impact food security in developing countries, including its own ability to procure grains for public distribution programme, given the cap imposed in the agreement signed 25 years ago. While the WTO membership has agreed to a “peace clause”, which restricts any country from raising a dispute in case of a breach in the limit, India wants a final settlement, an issue that China also highlighted.

Utkal Tubers plans to produce 30,000 metric tonne of seed potato by FY23

Utkal Tubers, a Zephyrs Peacock -backed lab-to-land vegetable seeds company, plans to produce 30,000 metric tonne of seed potato by FY23. To beef up this production capacity, the company will require additional funds, which they are planning to infuse using debt and equity instruments from new and existing investors.

“Because we have been able to supply quality material in the market, demand for our product has risen significantly over the last 2 years. We are well on track to produce 30,000 metric tonne of seed potato including IPM varieties by FY23. The IPM varieties will give 20% to 30% higher yield as compared to existing varieties,” Sanjay Mahant, CEO of Utkal Tubers told ET.

Agri financing picks up pace in fourth quarter as procurement begins

Agriculture financing has picked up in the ongoing fourth quarter of fiscal 2021, as large processors, exporters and traders in paddy and groundnut have started procurement and pledge financing.

Leading agri-financing companies said pledge financing for sugar too has picked up as the sector is set to witness higher production.

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