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Nashik, <keyword id="519104" type="General" weightage="20" keywordseo="onion-traders" source="Orion">Onion traders</keyword> have said that they suspended auctions in all agriculture produce market committees in Nashik district of Maharashtra and their protest will continue indefinitely, a development raising the fear of shortage of the kitchen staple in retail markets and hike in prices. An office-bearer of the Nashik District <keyword id="50894" type="General" weightage="20" keywordseo="onion" source="Orion">Onion</keyword> Traders Association (NDOTA) said on Wednesday they were protesting against the Union government's recent move to increase <keyword id="139959" type="General" weightage="20" keywordseo="export-duty" source="Orion">export duty</keyword> on onions up to 40 per cent, which will remain in force till December 31. Taking serious cognisance, the District Sub-registrar, Co-operative Societies, on Wednesday night issued an order directing all APMCs to suspend or cancel the licences of the striking traders and submit the Action Taken Report on September 21. "In protest against the export duty hike decision, we have decided to shut the auction of onions in all APMCs in the district indefinitely. This (export duty hike) decision of the Centre will not only make export of onions difficult but it will also affect the onions in transit, causing huge loss to farmers," the office-bearer said. Earlier on Wednesday, Maharashtra marketing minister Abdul Sattar said that observing a bandh (shutting auctions of onions) was not right. "Secretaries in the departments of cooperation and marketing will discuss the action to be taken as per rules and Nashik district collector will take the necessary action," he said on the sidelines of an event. Notably, auctions of onions remained closed at most of the APMCs in Nashik district, including at Lasalgaon, the largest wholesale onion market in India, on August 20. "We had given time till September 19 to the government to find a solution to our demands. But as our demands are not agreed to yet, we have decided to shut the auction of onions indefinitely," the office-bearer said. The other demands raised by traders include the cancellation of export duty on onions, a 50 per cent reduction in market fees, participation by the National Agricultural Cooperative Marketing Federation of India (NAFED) and National Cooperative Consumers' Federation of India (NCCF) in auctions and a 50 per cent subsidy in transport of onions. Accordingly, onion auctions did not take place in all APMCs in Nashik district on Wednesday including in the Lasalgaon APMC. No onions arrived at APMCs, sources said. The government order mentions that Khandu Deore, president of Nashik District Onion Traders Association, had written a letter on September 13 to minister Sattar mentioning four demands and warning of not participating in onion auctions from September 19. Accordingly, the minister has organized a meeting of officials of the Marketing department on September 26. The minister also requested the traders to defer the agitation. Despite that the traders and brokers resorted to strike which has caused many problems for farmers in the sale of various agri produce, the order said. "Even in the meeting held by the government on Wednesday (Sep 20), the traders and brokers remained adamant on their stand. As a result, the order of immediate legal action has been issued," it said. Accordingly, as per the Maharashtra Agriculture Produce Marketing (Development and Regulation) Act, 1963, all the APMCs should make optional arrangements and take necessary measures to continue the sale and purchase deals of agri produce. APMCs have the right to suspend or cancel the licenses of such traders. As per the provision, the APMCs should immediately suspend or cancel the licenses of such traders. In addition, a necessary process should be implemented to issue licenses to new buyers who want to purchase goods at the APMCs, the order said. If an APMC fails to follow the order, action will be taken against the board of directors and the secretary, the order added.

Onion traders in Nashik district go on indefinite strike over export duty; govt orders strict action

New Delhi, Apr 14 () The centre will consider addressing issues such as access to ports, freight and courier services to resurrect export of farm commodities amid the ongoing Covid-19 lockdown, Agriculture Secretary Sanjay Agarwal said on Tuesday. Agarwal, after holding a detailed discussion with the agri-exporters through video conference, said the government will look into the suggestion on allowing the food processing industry as well as spices and cashew nuts sectors to operate with 25-30 per cent staff strength during the lockdown period. The exporters said they were facing problems in availability and movement of labour, inter-state transport bottlenecks, shortage of raw materials due to closure of some mandis, phyto-sanitary certification, closure of courier services hampering movement of shipping documents, availability of freight services, access to ports/yards and clearance of goods for imports/exports. After hearing the first-hand account of the problems faced by exporters, Agarwal said, "The issues pertaining to port, ocean freight services, courier services will be considered for necessary resolution." The industry's request to open the functioning of food processing, spices, cashew nuts and machine and equipment sectors with 25-30 per cent staff strength will be taken up with Agriculture Minister Narendra Singh Tomar, he added. According to an official statement, the issue of internal transport is being addressed by the Ministry of Home Affairs and necessary directives are being issued. "Instructions have also been issued for continuous/regular issuance of phyto-sanitary certificates and acceptance of online certificates," it added. Export is very important as besides earning precious foreign exchange for the country, the agricultural exports help farmers/producers/exporters to take advantage of a wider international market and increase their income. Exports have also resulted in increased production in the agriculture sector by increasing area coverage and productivity. The ministry initiated the dialogue with exporters to take steps for making meaningful interventions for early redressal of their problems to help them sustain through the current Covid-19 crisis. LUX BAL ANSANS

Govt considers clearing lockdown hurdles for agri-exports revival: Agri Secy

<ul><li><keyword id="6357073" type="General" weightage="20" keywordseo="itc" source="Orion">ITC</keyword> believes that the Indian agriculture sector is “seriously threatened” by climate change and it needs attention.</li><li>It adopted a multi-pronged strategy to overcome the challenges, while increasing its profitability.</li><li>The company’s advisory app for farmers called Maars has a big role to play.</li></ul>The Indian agriculture sector is ‘seriously’ threatened by climate change and population explosion, and this calls for a higher level of production, ITC’s chairperson and MD Sanjiv Puri said. With that being said, ITC adopted a multi-pronged strategy to overcome the challenges put forth by the Indian agriculture sector. ITC believes that a strategic focus on value-added crops, its advisory app for farmers <keyword id="14508487" type="General" weightage="20" keywordseo="itc-maars" source="Orion">ITC MAARS</keyword> and climate smart agriculture will drive new vectors to sustain growth and profitability in this area. Notably, ITC’s agri-business sources over 40 lakh tonnes of agri-commodities from 22 Indian states and 20 agri-value chains. It also exports to over 95 countries across the globe. In an annual general meeting held on Wednesday morning, Puri emphasized that agriculture productivity and incomes today are seriously threatened by climate change and depleting natural resources. The rising populations have been making the issue worse as the demand for food is increasing. “ITC is committed to make a meaningful contribution to this new era of agricultural transformation,” Puri added during the AGM. ITC believes that the current situation calls for higher levels of production, building of competitive agri value chains, crop diversification to value-added products and scaling up of food processing to serve emerging consumer needs. <cmsannotation type="cmsannotation" annotationid="ITC’s MAARS app for farmers has a big role to play in it" comment="subhead" text="ITC’s MAARS app for farmers has a big role to play in it">ITC’s MAARS app for farmers has a big role to play in it</cmsannotation> To meet the target, the company will be focusing on accelerating adoption of advanced technologies through ITC MAARS. This will enable ITC to create a new and scalable revenue stream while benefiting farmers, Puri emphasised. ITC launched the MAARS app a few months back to offer artificial intelligence/machine learning (AI/ML)-driven personalised and hyperlocal crop advisories to farmers. It also provides access to quality inputs and market linkages as well as allied services like pre-approved loans. Puri added that the app has the potential to become a “considerable segment” of ITC’s agri-business, and is currently accessible by 40,000 farmers grouped into over 200 Farmers Producer Organizations (FPO) across seven states. “At the core, is your company's endeavour to restructure the backend into a robust network of vibrant FPOs to aggregate farmer effort and enhance efficiencies,” he said. ITC aims to engage and empower 4,000 FPOs, consisting of a crore farmers, over time. Puri emphasised that although nearly half of the country's workforce is dependent on the agriculture sector, it contributes to less than 19% of the country's gross value added (GVA). This reflects the challenges of low productivity, investments and incomes. “The opportunities arising out of India's growth story have also encouraged us to invest in five new manufacturing facilities that will be commissioned in the near term in areas such as agri and food processing, as well as packaging, among others. These assets are deeply aligned to the country's 'Make in India' and 'Digital India' vision as well as to the endeavours to 'Double Farmers' Income',” Puri said. SEE ALSO <a class="tout-title-link" href="https://www.businessinsider.in/stock-market/news/fpi-selling-intensity-abates-in-july-as-global-macros-improve-commodity-prices-cool/articleshow/93003529.cms">FPI selling intensity abates in July, as global macros improve &amp; commodity prices cool</a> <a href="https://www.businessinsider.in/business/corporates/news/wipros-net-profit-drops-12-drop-in-q1-as-recession-fears-grip-its-non-us-clients/articleshow/93006573.cms">Wipro’s net profit drops 12% drop in Q1 as recession fears grip its non-US clients</a> <a href="https://www.businessinsider.in/business/corporates/news/hindustan-unilevers-resurgent-quarter-signals-demand-recovery-later-this-year/articleshow/93004051.cms">Hindustan Unilever’s resurgent quarter signals demand recovery later this year – brokerages bullish</a>

ITC is relying on its advisory app for farmers, valued-added crops to grow its agri-business

Energy, metals and agriculture prices have all tumbled from their March peak on inflationary recession fears amid a slew of economic warning signs, but a commodity bust is far from inevitable, S&amp;P Global Commodity Insights said in a report. The commodity market boom is over, the report said. Since early 2020, more and more analysts have been championing the idea of a new commodity supercycle, with an economic recovery turbo-charged by low interest and pandemic-led fiscal stimulus measures, and as investment into decarbonization projects accelerated to meet net-zero targets. Global manufacturing is creaking, with the July <keyword id="104215" type="General" weightage="80" keywordseo="pmi" source="Orion">PMI</keyword> data, a leading barometer of economic health, at its lowest in two years. The <keyword id="6356435" type="General" weightage="80" keywordseo="us-federal-reserve" source="Orion">US Federal Reserve</keyword> has raised interest rates by 75 basis points for the second month in a row in a bid to thwart runaway inflation at over 9 per cent in June. And it's a similar pattern of inflation risks and monetary tightening seen across Europe. S&amp;P <keyword id="9589724" type="General" weightage="80" keywordseo="global-platts" source="Orion">Global Platts</keyword> Analytics sees global GDP growth below 3 per cent in 2022 and "the balance of risks is clearly on the downside with recession probabilities rising" amid "very concerning" inflation trends, after 2021's booming GDP growth of 6 per cent, <keyword id="12991687" type="General" weightage="80" keywordseo="paul-hickin" source="Orion">Paul Hickin</keyword>, Associate editorial director, S&amp;P Global Commodity Insights said. Oil and agriculture prices have also come off March highs, with the key <keyword id="4942453" type="General" weightage="80" keywordseo="dated-brent" source="Orion">Dated Brent</keyword> crude benchmark and the <keyword id="6358826" type="General" weightage="20" keywordseo="russia" source="Orion">Russia</keyword>n wheat price falling by close to 20 per cent. Energy and agriculture have not fallen at the same rate as metals given tighter supply balances, with Russia a crucial energy and crops supplier, amid uncertainties that these crucial commodities will continue to be exported at the same rate. The key debate is how high prices are leading to demand destruction amid fears of an inflationary recession and how much commodities are trading off their own fundamentals and still tight supply and demand balances. If oil and wheat stay high despite the economic weakness, even more damage could be inflicted on the global economy and, ultimately, commodity demand, pointing to the urgency of OPEC+ to bring on extra barrels and the US to keep strategic petroleum reserves flowing, the report said. Dated Brent remains in triple digits after peaking at close to $140/b in March and well above the $80/b at the start of 2022, while Russian wheat 12.5 per cent FOB Black Sea is also still comfortably above levels seen at the start of the year. SEE ALSO : <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/india/news/covid-19-monkeypox-tomato-fever-zika-virus-india-has-its-hands-full-with-these-outbreaks-and-more/slidelist/93296406.cms">Covid-19, Monkeypox, tomato fever – India has its hands full with these outbreaks and more</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/psu-banks-near-all-time-high-as-analysts-expect-a-rerun-of-2004-05-corporate-capex-cycle/articleshow/93296508.cms">PSU banks near all time high as analysts expect a rerun of 2004-05 corporate capex cycle</a>

The commodity boom is over across energy, metals and agri products: S&P

New Delhi, Jan 5 () The government on Sunday said eight states, including Maharashtra, Uttar Pradesh, Punjab and Karnataka, have finalised action plan for agriculture export policy which aims to double such exports.
 "The Agri Export Policy was announced last year with an objective of doubling the export and ensuring doubling of farmers' income...Many states have nominated nodal agency and nodal officer. Maharashtra, Uttar Pradesh, Kerala, Nagaland, Tamil Nadu, Assam, Punjab and Karnataka have finalised the State Action Plan and other states are at different stages of finalization of the action plan," the Ministry of Commerce and Industry said in a statement.
 The Agricultural and Processed Food Products Export Development Authority (APEDA) has been adopting a focused approach for ensuring greater involvement of the state governments for effective implementation of Agri Export Policy (AEP).
 Throughout the year APEDA held a series of meetings with state government officials and other stakeholders for preparation of state action plan which included all essential components like production clusters, capacity building, infrastructure and logistics and research and development and budget requirements for the implementation of AEP, it said.
 Several rounds of discussions were held with the Ministry of Agriculture and Farmers' Welfare, Department of Animal Husbandry &amp; Dairying, Ministry of Food Processing Industries and other agencies for seeking inputs for formulating a strategy to increase exports and address the existing bottlenecks in the trade.
 State level monitoring committees have been formed in many of the states. Cluster visits have been made by APEDA nodal officers to the product clusters, it added.
 The roadmap for cluster development in the clusters notified under AEP was prepared to address the identified interventions during the cluster visits.
 "As a result of cluster visits by APEDA, the cluster level committee has been constituted in the states viz. potato in Punjab, isabgol in Rajasthan, pomegranate, orange and grapes in Maharashtra and banana in Tamil Nadu," the statement said.
 APEDA organised a number of seminars and meetings for the implementation of AEP throughout the year.
 A Memorandum of Understanding was signed with the National Cooperative Development Corporation to include co-operatives for active role in AEP.
 A Farmer Connect Portal has also been set up by APEDA on its website for providing a platform for Farmer Producer Organisations (FPOs) and Farmer Producer Companies to interact with exporters, it said. 
 Over 800 FPOs have been registered on the portal. SID RVK

8 states finalise action plan for agri export policy: Govt

New Delhi, Jan 3 () Trade promotion body TPCI on Friday suggested a five pronged strategy to the government, including mandatory pre-export certification and revamping SEZ policy for food sector, to boost outbound shipments of agricultural goods.
 The Trade Promotion Council of India (TPCI) said India has the potential to raise agri exports to USD 100 billion (about 7.10 lakh crore) in the coming years.
 It proposed 100 per cent pre-export certification, increasing customer base, branding, strengthening last mile connectivity for agri produce, and revamping SEZ policy for food exports.
 "Before trading in a new market, most countries demand that your products conform to national and international standards. As a result, your products need to be designed and tested so that they can be sold in your target countries without hassles," TPCI Chairman Mohit Singla told reporters here.
 He said pre-export certification will ensure regulatory compliance for products and meet the requirements of the countries the exporters want to ship.
 "If this is ensured, the quality of our product will also fetch premium value for food and beverages exports. The mandatory 100 per cent pre-export certification will create the brand as a reliable and good quality exporter," he added.
 To enhance customer base, the government should support companies to create different products which suit global demands, Singla said.
 He added that providing the last mile connectivity to the agri produce from the country is the need of the hour and crucial for exports.
 "Our farm produce such as pepper, cardamom, cashew, is either undervalued in global market or overvalued domestically as in case of most of the spices which fails to get a market for exports," he said.
 For special economic zones (SEZ), he said the lack of incentives for manufacturing and exports of value added food and beverages is inhibiting global players from coming to India to set up facilities.
 A foreign investor should be allowed to import raw material at zero duty and avail duty rebate proportionate to value addition, he said.
 "Also, foreign investors should be incentivised by lower duty on value addition they achieve, especially for the food sector where duty is already high," he said.
 To promote India as a global sourcing hub for the sector, TPCI is organising global food show IndusFood 2020 in Greater Noida from January 8.
 Over 1,300 global importers are participating in the show. RR
RVK

Mandate certification, revamp SEZs for food sector to boost agri exports: TPCI

Mumbai, Dec 26 () Select agri and agri-based commodities like meat, milk and fruits, among others, present export opportunity worth over USD 97 billion (about Rs 6.9 lakh crore) for India, as per data from the Food &amp; Agriculture Organisation.
 India's export share in agri items such as bananas, oranges, chicken, meat, and milk products like cheese and butter milk is miniscule at present, the data showed.
 The country's share in the global market for 19 commodities was a miniscule 1.5 per cent, or around USD 1.5 billion (about Rs 10,650 crore), in 2017 against a potential of USD 97 billion, the World Trade Centre said in a statement on Thursday quoting the FAO data released recently.
 While global market for meat and chicken is a whopping USD 20.6 billion, the country's export share is only 4.04 per cent of this. 
 Similarly, global market for bananas is close to USD 15 billion wherein India's share is a paltry USD 480 million, the statement said.
 Butter and cow milk provide a USD 8 billion opportunity, while India does not get a single penny from their exports, it said. 
 The country earns USD 275 million annually from export of grapes, while the global market is worth USD 8.6 billion.
 Significantly, food waste is a USD 11 billion market, but India earns nothing from its export. 
 It can be noted that nearly a third of Indian farm produce is wasted due to lack storage/proper transport facilities, it added.
 The global onion export market is over USD 3 billion, but India earns just USD 420 million from exports. BEN RVK

Agri goods can fetch India additional USD 97 bn in exports: FAO

<ul><li>Shares of most jewellery companies have rallied in the last one month as <keyword id="46002" type="General" weightage="20" keywordseo="gold-prices" source="Orion">gold prices</keyword> have been rising continuously on inflation concerns.</li><li>Moreover, as the festive season is upon us, demand for gold goes up.</li><li>Check out the latest news updates on Business Insider.</li></ul>Rise in gold prices have boosted shares of jewellery companies in the last one month wherein most companies have delivered double digit returns. “The bullion metal gained strength in yesterday’s session as increasing inflation concerns and a weaker dollar boosted appeal for safe haven gold,” said Prathamesh Mallya, assistant vice president -- research, non-agri commodities and currencies at broking house Angel One. Moreover, with the wedding and festive season on the go, demand for gold got a boost. <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Companies </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">% return in last one month </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Atlas Jewellery </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">27% </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Titan </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">17% </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Renaissance Global </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">19% </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Tribhovandas Bhimji Zaveri </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">15% </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Thangamayil Jewellery </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">16% </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">PC Jeweller </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">14% </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Rajesh Exports </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">9% </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Kalyan Jewellers India </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">7% </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Goldiam International </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">5% </td></tr></tbody></table> Gold futures continued to trade higher on Wednesday, October 20. On the Multi Commodity Exchange (MCX), gold futures due for a December 3 delivery, were last seen trading higher by 0.15% at ₹47,352. One of the leading jewellery companies, <keyword id="6359357" type="General" weightage="20" keywordseo="titan" source="Orion">Titan</keyword>, <a href="https://www.businessinsider.in/stock-market/news/shares-of-titan-surge-10-entering-the-2-trillion-club-as-festivities-pent-up-demand-for-gold-jewellery-watches/articleshow/86832311.cms">confirmed </a>that there has been a strong comeback in gold demand in the last three months. “The demand postponement triggered by the second wave of the pandemic in avenues like gift purchases, occasions I milestone buying, weddings, investments in gold etc., witnessed a strong comeback in Q2,” said Titan in a statement to exchanges. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/corporates/news/reliances-oil-to-chemicals-business-seems-to-be-in-the-right-spot-to-leverage-chinas-climate-crackdown/articleshow/87152945.cms">Reliance’s oil-to-chemicals business seems to be in the right spot to leverage China’s climate crackdown</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/telecom/news/airtel-vodafone-idea-shares-spike-after-government-announces-deadline-for-agr-dues-moratorium/articleshow/87153508.cms">Airtel, Vodafone Idea shares spike after government announces deadline for AGR dues moratorium</a>

Titan, Kalyan Jewellers and other jewellery stocks rally in last one month on high bullion prices

New Delhi, Dec 17 () The government should remove GST on agri-inputs, revamp crop insurance scheme, land lease rental while fixing MSP and ban futures trade on agri-commodities are some of the suggestions made by farm experts during pre-budget meeting with the Finance Minister on Tuesday.
Measures to promote organic farming, cut in import duty from 30 per cent to zero on live embryo, animal and semen, tweaking of electronic National Agriculture Market (e-NAM) and revisiting of Food Security Act were some other recommendations made during the meeting, headed by Finance Minister Nirmala Sitharaman.
This is the fourth pre-Budget meeting on agriculture and agro-processing sectors. Already, consultations with IT/start-ups, financial sector and industry have been held.
"There should be zero GST on every farm inputs such as fertilisers, seed and agri-equipments," Bharatiya Kisan Sangh's (BKS) Dinesh Kulkarni told reporters after the meeting.
He also said there should be no futures trading in agri-commodities as it does not benefit either consumers or farmers. He also urged the government to increase procurement of various crops at the minimum support price (MSP).
Bharat Krishak Samaj Chairman Ajay Vir Jakkar demanded that the Pradhan Mantri Fasal Bima Yojana (PMFBY) should be replaced with new crop insurance and compensation scheme or a set up a farmers disaster and distress relief commission.
He also said the government should reduce GST on processed food and dairy products to 5 per cent.
National Dairy Development Board Executive Director Arun Raste said, "We want import duty on live embryo, animal and semen to be reduced to zero. The government should also expedite implementation of National Dairy Plan (NDP-II) at the earliest and make a budgetary provision".
The NDP-II, which aims to boost productivity in dairy sector, is estimated to cost USD 1 billion, of which 50 per cent will be borne by the World Bank and 30 per cent by the Centre and remaining 20 per cent by NDDB.
Consortium of Indian Farmers' Association (CIFA) Secretary General B D Rami Reddy said the government should consider lease rental cost while determining MSP for crops as recommended by the Swaminathan Commission.
Other stakeholders pitched for building brands of Indian agricultural products abroad, accelerate depreciation benefit to agri-processing industry, encourage development of farm eco-system services and market intelligence systems.
They also recommended development of agro-medicinal forestry, crop diversification, revisiting of Food Security Act, extending subsidy to producers of green manure, bio-fertilisers and bio-pesticides besides steps for promoting large scale production of compost by utilisation of urban solid waste.
The farm experts also felt the need for expansion of multi-dimensional research in agriculture sector for development of new technologies and further suggested for promoting start-ups in institutes of the Indian Council of Agricultural Research (ICAR) and agriculture universities for young students.
The meeting was attended by Minister of State for Finance Anurag Thakur and senior officials from finance, agriculture, consumer affairs, food processing, animal husbandry ministries as well as Niti Aayog. 
There were representatives from National Cooperative Union of India, South Indian Sugarcane Farmers Association, Kisan Foundation, IFFCO, All India Spices Exporter Forum, NCDEX, Indian School of Business, Irrigation Association of India, National rainfed Area Authority (NRAA) and NABARD among many others. MJH LUX CS LUX BAL
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Pre-budget meet: Agri-experts demand scrapping GST on agri-inputs, revamp of PMFBY

New Delhi, Feb 1 () Agri experts and industry players on Saturday gave a mixed reaction to the budget proposals, saying the government did not announce any major structural reforms to increase farmers' income.
 Farmers' body India Kisan Sangharsh Coordination Committee (AIKSCC) called a nation-wide protest on February 13 to protest against the "pro-corporate" budget.
 Industry players observed that the government failed to bring reforms in the Essential Commodities Act. There were few schemes to spur private investment and capital formation in the agriculture space.
 However, fertiliser cooperative major IFFCO welcomed proposal of exempting cooperative societies from minimum alternate tax and also bringing tax rate for cooperative societies to 22 per cent from 30 per cent.
 "These steps will indeed help the cooperatives to work in a dynamic manner and can bring more innovations for the farmers of country," IFFCO Managing Director U S Awasthi said in a statement.
 Hailing the Budget, National Dairy Development Board (NDDB) Chairman Dilip Rath said: "18 per cent increase in allocation of funds to Animal Husbandry and Dairying sector to Rs 3,289 crore for the 2020-21 fiscal as against the revised budget estimate for 2019-20 is remarkable which recognizes that dairy sector is increasingly becoming an important sector for the economy, especially for the rural areas."
 The measures announced will help sustain growth of milk production by more than 6 per cent and also reinforces the intent of the government that the dairy sector continues to play a stellar role in realising the goal of doubling farmers' income, he added.
 Stating that the budget was a "mixed bag" for agriculture, the Federation of Seed Industry of India (FSII) Director General Ram Kaundinya said it is "disappointing" to note the continued emphasis on Zero Budget Natural Farming (ZBNF) as a panacea for farmers.
 "While the FM said that they wanted to make the Indian farmer competitive, she did not talk anything about using modern science and technology in seeds, increasing farm mechanization and other inputs which are essential for this," he added.
 Edible oil industry body SEA said it was expecting at least this year the government will come out with a package of incentives for higher production and productivity of oilseeds to reduce our dependence on import of edible oils.
 NCDEX MD &amp; CEO Vijay Kumar said allocation of Rs 2.83 lakh crore to agriculture, irrigation and rural development will provide impetus in re-energizing the sector.
 For DCM Shriram Chairman and Senior Managing Director Ajay Shriram, it was a "balanced budget" which has tried to move the needle in different areas while maintaining the fiscal prudence.
 NCML Chairman Sanjay Kaul said this is a refreshing change from the previous budget which had limited new schemes for agriculture.
 However, the agri-industry would be disappointed with no reforms announced in the Essential Commodities Act and minimal schemes to spur private investment and capital formation in the agri space, he said.
 Ajay Kakra of PwC India said, "Systematic coverage of agriculture sector through the 16-point agenda reflects an definite intention to bring fundamental development in agriculture and allied sector. Covering allied sector and important thematic areas can surely work towards aspirational agenda of the government."
 Cargill India President Simon George said, "Agriculture being the backbone of the nation it would be significant to see how the government would push the Krishi Udaan on not just national but international routes and enabling agri and farmers to be part of the global value chains, providing enormous value addition for farmers and the economy."
 LT Foods Ltd Managing Director and CEO Ashwani Arora said the government's efforts to provide impetus to the agri sector are "laudable" but one key area which remained untouched was the direct benefit to companies working in the area of agri-extension and directly engaging with farmers to educate and enhance their knowledge on advancing technologies.
 "We were also hoping for subventions and incentivisation to agri-export companies. Both these were seemingly left out," he added.
 Farm machinery maker CLAAS Managing Director Mrityunjaya Singh said: "Adoption of Model agricultural laws, agricultural credit availability of 15 lakh crore and allocation of 2.83 lakh crore will encourage farmers to adopt latest farming machinery and technology. This will upskill the farming sector in India."
 SLCM Group CEO Sandeep Sabharwal said it's a "Kisan friendly, while KisanKraft Ltd MD and founder Ravindra Agrawal said it was "mixed bag".
 "For achieving the goal of doubling the farmer's income, training farmers on best package of practice, MSP revision is necessary," he said.
 Netafim Agricultural Financing Agency Pvt CEO Prabhat Chaturvedi said, "NABARD initiative to create an e-portal of geo-tagged, WDRA-compliant warehouses, integrated with eNAM, is a welcome step, which will help in better prices as well as warehouse-receipt financing for farmers."
 SourceTrace Vice President Marketing Om Routray said: "The budget has been favourable thus far towards agriculture and allied sectors. There is a good focus on using technology to develop agriculture in India."
 Aadvik Foods Co-founder Shrey Kumar said: "Overall the budget looks positive towards start-ups and improving the logistics and infrastructure of the agriculture segment."
 The setting up of cold chain infrastructure in the country is much needed and it is good to hear that government is planning to improve the same, Kumar added.
 Garware Technical Fibres CEO Shujaul Rehman said, "Sagar Mitras is an appreciative initiative for rural youth in fisheries. Thus fish farming is now a thriving sector and we see the sector GDP and turnover graph ascending with time."
 World Gold Council India Managing Director Somasundaram PR said: "Measures to boost farmers' income and reduce taxes for the middle class will boost purchasing power and consumer confidence, which will benefit jewellery industry as well." LUX MR

Agri industry & experts give mixed bag of response on budget

New Delhi, Feb 5 () The Indian agriculture sector faces issues in making available customised technology to farmers and implementation of policy reforms, especially at the state level, NITI Aayog member Ramesh Chand said on Wednesday. He also emphasised the need to implement model central laws on Agriculture Produce and Livestock Marketing, land leasing and contract farming at the state level. "Technology is the prime mover and India is facing serious problems both in terms of technology and policy reforms," he said at the release of 'India Commodity Year Book 2020'. The states should be encouraged to play an active role in the overall growth of the agriculture sector and emphasized on the need for private sector to come forward, he said in a statement. "We need to give the right role to right people and institutions. Market and the private people are the right people to pay competitive prices to farmers and we should remove hurdles which come in the way of the market," Chand said. He said that for the first time the 15th Finance Commission has included a provision to give performance linked grants to states to undertake some agricultural reform. "The Commission has included reform in agriculture sector among the top 5 areas for which next year states will be provided with incentives," Chand added. He added that agriculture sector is witnessing the growth but with an increase in cost of production and it is one of the reasons why India is losing on export competitiveness. FICCI National Agriculture Committee Chairman and Group President of TAFE Ltd T R Kesavan said there is a need to produce more and reduce the wastage in order to meet the requirements of increasing population. FICCI National Agriculture Committee Co-Chair and National Collateral Management Services Ltd (NCML) Managing Director and CEO Siraj Chaudhry said problems in India are different at different parts of the country and the solutions cannot be one or few changes. "Every region's problem needs to be addressed differently," he said. LUX MKJ

Agri sector faces issues in implementation of policy reforms: Niti Aayog member

New Delhi, Feb 17 () The 15th Finance Commission on Monday decided to set up an eight-member high level expert group headed by ITC chairman Sanjiv Puri to recommend strategies and measures to increase farm productivity and boost exports.The panel will recommend measurable performance incentives for States to encourage agri exports as well as to promote crops to enable high import substitution, the Finance Commission said in a statement. The committee will submit its recommendations within three months for further consideration of the Commission, it said.As per the Terms of Reference, the panel would "assess export and import substitution opportunities for Indian agricultural products (commodities, semi processed and processed) in the changing international trade scenario and suggest ways to step up exports sustainably and reduce import dependence."It will also recommend strategies and measures to increase farm productivity, enable higher value addition, ensure waste reduction, strengthen logistics infrastructure etc. related to Indian agriculture, to improve the sector's global competitiveness.The panel is expected to identify the impediments for private sector investments along the agricultural value chain and suggest policy measures and reforms that would help attract the required investments.The committee will also suggest appropriate performance-based incentives to the state governments for the period 2021-22 to 2025-26, to accelerate reforms in the agriculture sector as well as implement other policy measures in this regard. Apart from Puri, other members of the committee also included former Agriculture Secretary Radha Singh Nestle India CMD Suresh Narayanan, UPL CEO Jay Shroff and RIS Director General Sachin Chaturvedi. DP MRMR

Finance Commission constitutes expert group on agriculture exports

New Delhi, Dec 1 () The Commerce and Industry Ministry has suggested business community in the north-east region of the country to focus on sectors like textiles, start-ups and agriculture as they hold huge potential for investments, an official said.
 The government has rolled out the North East Industrial Development Scheme (NEIDS), 2017 to promote industrialisation and job creation in this region. 
 The government provides financial incentives under the scheme such as income tax and GST reimbursement.
 The Department for Promotion of Industry and Internal Trade (DPIIT), under the ministry, organised a day long symposium and workshop on Saturday in Guwahati to give a push to investments in this region.
 "We have suggested them to focus on sectors like textiles, agriculture and bamboo which hold huge potential to attract investments. There is scope for start-ups as well," the official said, adding that attracting mainland polluting industries like cement and steel was discouraged to protect natural ecology of the region.
 In the workshop, officials from the department resolved the operational issues being faced by businesses in availing benefits under NEIDS.
 "These efforts are aimed at promoting ease of doing business and giving a fillip to start-up ecosystem in the region. The workshop and symposium will help revitalise demand and supply chains to unlock new business opportunities in these states," the official added.
 The workshop was attended by senior government officials from the Centre and states, including Arunachal Pradesh, Assam, Manipur, Meghalaya, Mizoram, Tripura, Nagaland and Sikkim.
 Representatives from national bodies like the Agricultural and Processed Food Products Export Development Authority (APEDA) and industry associations like CII also participated in the deliberations. RR
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