Agriculture Current Affair 27 January 2020

The Centre wants 10,000 FPOs set up by 2024; where do we stand now?

In her Budget presentation last year, Finance Minister Nirmala Sitharaman chalked out a plan to form 10,000 Farmer Producer Organisations (FPOs) over five years. However, she did not allocate any funds for the initiative or frame a policy conducive to the setting up of these farmer groups.

The Finance Minister is expected to chalk out a plan for the FPOs in the upcoming Budget.

The market buzz is that the Budget may announce direct as well as indirect capital support of ₹7,000-10,000 crore to create the 10,000 farmer producers organisations. Further, it is expected that the stipulation that a minimum of 500 farmers must be members of a farmer producer company (FPC, registered under the Companies Act) for it to receive the Central grant may be reduced to 250 members.

Long-term policy backing needed for bioethanol: Brazilian sugar baron

In the last two years, Brazilian sugar firms managed to divert sugarcane enough to produce 10 million tonnes of sugar into bioethanol production, helping keep both sugar and ethanol prices competitive, said Eduardo Leao de Sousa, Executive Director of UNICA (Brazilian Sugarcane Industry Association).

“If Brazil did not have the option of producing that much of ethanol, you can very well imagine what would have happened to our sugar industry. It could have just collapsed,” de Sousa, who was in India in connection with Brazilian President Jair Bolsanaro’s State visit to India, told BusinessLine.

Coonoor tea prices touch 1-year low

Teas worth 4.76 crore remained unsold at Sale 4 of the auctions of Coonoor Tea Trade Association that concluded on Friday as there were no takers for as much as 38 per cent of the offer.

This was despite the average price crashing to 82.85 a kg, the lowest of all auctions held so far in calendar 2020. Unviable situations prevailing in select foreign markets pulled down the enthusiasm of exporters to bid.

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