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Cashew Farming's Economic Impact on Local Communities

Cashew farming in India, introduced by the Portuguese in the 16th century, has evolved into a significant economic driver, covering approximately 0.7 million hectares and providing over one million jobs, particularly in Maharashtra, Kerala, and Karnataka. With an annual production of 0.8 million tonnes, India ranks among the world's top cashew producers, exporting $356 million worth in 2023, which constitutes 15% of the global market. Despite its benefits, the sector faces challenges such as price volatility, labour shortages, and pest management issues. Government initiatives like the Mission for Integrated Development of Horticulture aim to enhance cultivation and support farmers. Strategic recommendations include forming cooperatives for better bargaining power, mechanisation to address labour shortages, and investment in pest control. With targeted investments and policy support, cashew farming could further bolster rural economies and maintain India's leadership in the global market. sources

Published:
Nov 09 2024, 9 am

Challenges for farmer producer companies in agriculture

Farmer Producer Companies (FPCs) are unique organizations designed to achieve complex goals beyond mere profit, playing a crucial role in enhancing the agricultural sector. However, many FPCs struggle to establish themselves due to challenges such as acquiring shareholders, cash flow crises, and maintaining quality assurance. Farmers often hesitate to engage with new FPCs, leading to credibility issues and financial instability. Additionally, the lack of robust systems can hinder quality control, making it difficult for FPCs to attract and retain members, particularly marginalized groups like women. To overcome these hurdles, FPCs must focus on community mobilization and genuine engagement rather than solely on financial incentives. By investing in leadership and fostering strong connections within the farming community, FPCs can transform challenges into opportunities, ultimately creating a vibrant ecosystem that supports sustainable agricultural growth and a brighter future for farmers. sources

Published:
Nov 09 2024, 9 am

Three coaches of Secunderabad-Shalimar Express derail near Howrah

A special train derailed near Nalpur, approximately 40 km from Kolkata, early on Saturday morning, with no reported casualties or injuries. The Secunderabad-Shalimar Superfast Express, designated as train number 22850, experienced the incident around 5:30 AM while passing through the Kharagpur Division. Among the derailed coaches was a parcel van. In response to the derailment, South Eastern Railway officials dispatched an accident relief train and medical assistance from Santragachi and Kharagpur. Additionally, buses were arranged to transport passengers to Kolkata. The incident highlights ongoing concerns regarding railway safety in the region, although prompt action by railway authorities has ensured the well-being of those on board. sources

Published:
Nov 09 2024, 9 am

Centre to create 100 resilient coastal fishing villages

The Indian government is set to establish 100 'climate-resilient coastal fishermen villages' to bolster the economic stability of fishing communities facing climate change, announced Union Minister of State for Fisheries George Kurian. Each village will receive ₹2 crore under the Pradhan Mantri Matsya Sampada Yojana to develop essential infrastructure, including fish drying yards and processing centres, while promoting sustainable practices like seaweed cultivation. Kurian highlighted the transformative potential of drones in the fisheries sector, which can manage aquaculture, monitor fish markets, and assess damage during natural disasters. Additionally, the government plans to install transponders in 100,000 marine fishing vessels, enabling real-time tracking and communication, including weather alerts and information on potential fishing zones. This initiative aims to enhance resilience and provide vital support to fishermen, ensuring their livelihoods are safeguarded against climate threats. sources

Published:
Nov 09 2024, 9 am

Chana Prices Plummet with Australian Imports and Sowing Start

Chana (desi chickpea) prices in India have recently corrected, dropping over 10% from their peak of ₹8,000 per quintal in early September to around ₹7,200. This decline follows a significant harvest of chana in Australia, with major trading firms like Grain Corp and Viterra exporting high-quality crops to India. The influx of Australian chana, priced between ₹7,200-7,300 in Mumbai, alongside imports from Africa, has intensified market pressure, especially after the festive season. Bimal Kothari, Chairman of the India Pulses and Grains Association, noted that November shipments of Australian chana are available at ₹6,100-6,200, nearing the minimum support price (MSP) of ₹5,650. Despite slower sowing due to extended rains, expectations of large arrivals from Australia in the coming months could further impact prices. The Indian government has also removed a 66% import duty to enhance supply amid lower domestic production. sources

Published:
Nov 09 2024, 10 am

US policies could create new opportunities for India: CEA

Chief Economic Advisor V. Anantha Nageswaran has dismissed concerns over a potential trade war following Donald Trump's election as U.S. President, asserting that fears of restrictive trade policies are premature. Speaking at an event in Mumbai, Nageswaran emphasized that external trade growth is more influenced by global economic conditions than by U.S. trade policies. He acknowledged the uncertainty surrounding global growth but suggested that the new U.S. administration could create opportunities for India. Analysts have raised alarms about possible short-term disruptions for Indian industries, particularly in steel, textiles, and IT, due to Trump's "America First" agenda and potential reciprocal tariffs. However, Nageswaran expressed optimism regarding government capital expenditure, predicting it will surpass last year's levels, with a notable recovery since October. He urged preparedness but cautioned against undue pessimism regarding the economic outlook. sources

Published:
Nov 08 2024, 9 pm

Indian Tea Association proposes quality rating system for retail packets

In response to the growing prevalence of low-quality teas in India, Hemant Bangur, Chairman of the Indian Tea Association (ITA), has advocated for a scientific quality grading system for tea retail packets. Speaking at the ITA's 141st Annual General Meeting in Kolkata, Bangur emphasized the need for consumers to be informed about the quality of tea blends, which currently remains opaque due to proprietary blending practices. He proposed a rating system ranging from one to five leaf marks, allowing consumers to make educated choices based on quality rather than just price, which can vary significantly from ₹200 to ₹2,000 per kg. Bangur highlighted the industry's financial struggles, noting that production costs have surged while tea prices have stagnated, leading to losses. He argued that a quality rating could enable premium pricing for high-quality teas, thereby addressing the ongoing crisis in the sector. sources

Published:
Nov 08 2024, 9 pm

Punjab's rice procurement issues may push growers to basmati

Farmers in Punjab are expressing satisfaction despite a 10% drop in Basmati rice prices compared to last year, attributed to procurement issues and a late purchase of non-Basmati paddy following protests by rice millers. Current prices for the Pusa 1509 variety range from ₹2,800-2,900 per quintal in Haryana and around ₹3,000 in Punjab, while Pusa 1121 fetches ₹3,800-4,000. Former All India Rice Exporters Association president Vijay Setia noted that the procurement situation may encourage farmers to shift towards Basmati cultivation. Despite concerns over space in mandis, exporters report no issues with Basmati arrivals, highlighting a good crop this year. India's Basmati rice exports have increased to 2.72 million tonnes worth $2.87 billion in the current fiscal year, following the government's removal of the minimum export price, facilitating more aggressive international sales. sources

Published:
Nov 08 2024, 9 pm

India's September tea production slightly drops to 164.62 million kg

India's tea production experienced a nearly 2% decline in September 2024, totaling 164.62 million kg, down from 167.76 million kg in the same month last year, according to provisional data from the Tea Board. This drop was observed across both North and South India, largely attributed to erratic weather patterns. In Assam, the largest tea-producing state, output fell slightly to 89.98 million kg from 90.26 million kg, with the Assam Valley contributing 85.03 million kg. West Bengal also reported a decrease, with total production at 47.42 million kg, down from 48.82 million kg. Southern states faced similar declines, with Tamil Nadu producing 16.59 million kg, Kerala 5.99 million kg, and Karnataka 0.40 million kg, leading to a total of 22.98 million kg in the region. Overall, CTC teas accounted for 146.71 million kg, while orthodox and green teas produced 15.55 million kg and 2.36 million kg, respectively. sources

Published:
Nov 08 2024, 8 pm

October truck rentals decline after seasonal peak

In a notable shift in the logistics sector, commercial tractor sales surged by 39% month-on-month, while agricultural trailer sales soared by 67%, reflecting positive rural sentiment bolstered by favorable monsoon conditions and strong crop yields. However, truck rentals on major routes experienced a slight decline in October following the post-Diwali slowdown, with the Delhi-Mumbai-Delhi route seeing a drop to ₹1,52,000 from ₹1,53,000 in September. Rentals on other key routes remained stable, while the Bengaluru-Mumbai-Bengaluru route fell by 1.6%. YS Chakravarti, MD & CEO of Shriram Finance Ltd, noted that this cooling in rentals and fleet occupancy is typical after the festive rush. Meanwhile, infrastructure projects are gaining momentum, leading to a 75% increase in earth-moving equipment sales and a 44% rise in commercial construction vehicle sales. Additionally, toll collections via FASTag rose by 8.3%, and fuel sales increased significantly during the festive season. sources

Published:
Nov 08 2024, 8 pm

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