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<ul><li>Rise in investments in residential real estate coincides with a rise in the aggregate <keyword id="16695918" type="General" weightage="20" keywordseo="disposable-income-of-households" source="Orion">disposable income of households</keyword>, says a report by ICICI Securities.</li><li>For every square foot that’s built, the realty sector helps generate income anywhere between ₹2,000-6,000, depending on the type of building.</li><li>The average income of a construction worker in rural India as per the Labour Bureau statistics is around ₹500-600 per day while for those in the urban areas it is usually higher.</li></ul>There is a direct correlation between growing household incomes and a vibrant <keyword id="6543013" type="General" weightage="20" keywordseo="real-estate-sector" source="Orion">real estate sector</keyword>. The signs of recovery in the real estate industry are expected to support aggregate <keyword id="386349" type="General" weightage="20" keywordseo="household-income" source="Orion">household income</keyword> considering it is the second-largest employer in India after <keyword id="6355165" type="General" weightage="20" keywordseo="agriculture" source="Orion">agriculture</keyword>, says a report by ICICI Securities. The sector generates a variety of jobs including for construction workers and other informal jobs for masons, plumbers, concrete workers, electricians, carpenters, painters, drivers, helpers, loaders, etc. For every square foot that’s built, it helps generate income anywhere between ₹2,000-6,000, depending on the type of building — ranging from basic to high-rise luxury skyscrapers. “Incremental value additions done to the builder-finished construction by end-users can go up to several thousand rupees per square foot depending upon the taste and capability of the end-user,” ICICI Securities says. <div type="image" title="Real estate report 2" msid="98390920" hostid="261" sizebytes="52976"></div> How much does construction pay? The <keyword id="6462448" type="General" weightage="20" keywordseo="construction-sector" source="Orion">construction sector</keyword> is also a better paymaster than agriculture, the report adds. The average income of a construction worker in rural India as per the Labour Bureau statistics is around ₹500-600 per day. In urban areas, it gets higher. “Anecdotal evidence for larger cities indicates the wages are at least 30-40% higher for construction workers with higher skills and experience,” the report says. Another group of professions to benefit from real estate development are mortgage lenders, material suppliers, contractors, architects, designers, engineers, lawyers, real estate brokers, etc. In addition, allied sectors involved in labour-intensive manufacturing activity in the unorganised segment — such as furniture, ceramics, glassware, lightings and other decorative products – also benefit from an upcycle in real estate. Large-scale organised manufacturing like cement, steel, ceramics, plywood, paints, adhesives, etc are also beneficiaries. “Household real estate investment cycle is rising after a decade of stagnation during which its share in gross fixed capital formation (GFCF) dipped from 37% in FY12 to 25% in 2021. The cyclical recovery in residential real estate will boost income growth of related stakeholders mentioned above. Workers involved in the leisure segment, which again is dominated by the unorganised segment, are also likely to see buoyant income growth,” said the report. However, the report mentions that agriculture wages remain a key risk to aggregate income growth, given its large weight within the aggregate workforce. And the prospects of it will depend on how monsoon and agriculture output pans out in FY24. <div type="image" title="real 3" msid="98390948" hostid="261" sizebytes="48628"></div> Wage bills to rise all across ICICI Securities also says that the aggregate wage bill of the private corporate sector has been expanding more than the nominal GDP growth over the past decade. “The trend is likely to continue in FY24 going by recent salary surveys and hiring trends in the formal segment although IT services, with its large weight, is expected to lag,” the report said. According to a survey by Aon, salaries in India are expected to go up by 10.3% in 2023, in spite of concerns around economic volatility. This could be in response to a high attrition rate of 21.4% in 2022. In 2022, the actual salary increase was slightly higher at 10.6%. The projected salary increase for India is the highest among major world economies like China, US and UK, Aon said. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/corporates/news/adani-group-stocks-rally-after-it-sells-stake-to-gqg-partners/articleshow/98384846.cms">Adani group stocks rally post GQG deal: group marketcap surges by ₹73,000 crore</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/auto/news/tractors-commercial-vehicles-drive-auto-sales-in-february-but-el-nio-threat-looms-large/articleshow/98386451.cms">Tractors &amp; commercial vehicles drive auto sales in February but El Niño threat looms large</a>

Recovery in real estate sector likely to boost household income, says ICICI Securities

<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

<ul class="summary-list"><li>A Russian missile strike hit the Ukrainian <keyword id="12197410" type="UNKNOWN" weightage="60" keywordseo="port" source="Orion">port</keyword> city of Mykolaiv on Wednesday, <a href="https://www.reuters.com/world/europe/seven-russian-missiles-hit-ukrainian-city-mykolaiv-regional-governor-2022-06-22/">Reuters</a> reports.</li><li>The attack hit a vegetable oil export terminal owned by Viterra, a major agricultural trader. </li></ul>A vegetable oil export terminal at a major agricultural port in <keyword id="11985141" type="UNKNOWN" weightage="60" keywordseo="ukraine" source="Orion">Ukraine</keyword> was hit Wednesday during a Russian missile strike on the city of Mykolaiv, <a href="https://www.bloomberg.com/news/articles/2022-06-22/russian-attack-on-key-ukrainian-port-damages-viterra-terminal">Bloomberg</a> reports.The terminal, owned by major agricultural trader Viterra, <keyword id="12534666" type="UNKNOWN" weightage="60" keywordseo="exports" source="Orion">exports</keyword> up to 1.5 million tons of vegetable oil a year. <keyword id="11894337" type="UNKNOWN" weightage="60" keywordseo="russia" source="Orion">Russia</keyword>'s invasion of Ukraine has triggered <keyword id="11900969" type="UNKNOWN" weightage="60" keywordseo="cooking-oil" source="Orion">cooking oil</keyword> shortages around the world, as Western officials accuse <a href="https://www.businessinsider.com/us-accuses-russia-of-holding-global-food-supplies-hostage-2022-5">Putin of instigating a global food crisis</a> by attacking Ukrainian ports and blocking vital exports. "Viterra can confirm that its Everi terminal was hit and is currently on fire," a company spokesperson told Bloomberg, adding that nobody was killed at the facility. The Everi terminal is one of the company's six port terminals shipping grain and oil seeds to 60 countries around the world, according to its website.Russian forces have repeatedly launched rocket attacks against Mykolaiv, home to one of the largest seaports in Ukraine. Seven missiles hit the southern portion of the city on Wednesday, the Regional Governor Vitaliy Kim said on Telegram. The attack killed at least one person and damaged several buildings including a school, Mayor Oleksandr Senkevych said, per a <a href="https://www.reuters.com/world/europe/seven-russian-missiles-hit-ukrainian-city-mykolaiv-regional-governor-2022-06-22/">Reuters</a> report. Known as the world's "bread basket," Ukraine and Russia collectively ship 30% of global <keyword id="11909001" type="UNKNOWN" weightage="60" keywordseo="wheat" source="Orion">wheat</keyword> exports and around around <a href="https://www.usglc.org/blog/russias-assault-on-ukraine-threatens-global-food-security/">75%</a> of sunflower oil exports, causing <a href="https://www.businessinsider.com/putin-preparing-to-starve-developing-world-ukraine-war-yale-historian-2022-6">experts to worry</a> that Putin is "preparing to starve" countries dependent on those exports in order to win the war. "The Russian government seems to think that using food as a weapon will help accomplish what its invasion has not – to break the spirit of the Ukrainian people," US Secretary of state Antony Blinken said in May.

A vegetable oil export terminal at a major Ukraine port is 'on fire' following Russian missile strike

<ul class="summary-list"><li>CSA stands for Community Supported Agriculture.</li><li>CSA programs are selling plans that connect the farmer to local customers directly.</li></ul>Heavy harvest seasons like summer and fall often inspire planned adventures to go berry picking, apple picking, or on a trip to your nearest farm. As time has gone on, the desire for farm-fresh produce has only increased, with more folks stumbling upon what's referred to as a CSA program. Though the popularity of Community Supported Agriculture (CSA) programs has grown with time, there's still a lot to learn, especially if you're considering joining one. <a href="https://www.drgailmyers.com" target="_blank" rel="noopener">Dr. Gail Myers</a> – cultural anthropologist, founder of <a href="https://www.farmstogrow.com" target="_blank" rel="noopener">Farms to Grow, Inc.</a>, and organizer of its CSA program – helps break down everything you need to know about Community Supported Agriculture. <h2>What is Community Supported Agriculture?</h2><div type="image" title="Older women showing younger women a garden full of kale and other green produce growing" height="3667" width="5500" msid="92684347" hostid="261" sizebytes="2227798"></div>CSA programs are a selling plan that connects farmers and local consumers directly. Instead of farmers selling their product to companies or stores, customers within the farm's community pay in advance to receive a share of the coming harvest's crop. Then, customers regularly pick up a box of produce (often each week) during the harvest season. Many farms also offer add-on items for purchase, like homemade jams, eggs, milk, meat, cheeses, or breads. The idea for CSA programs in the US began in the 1960s from <a href="https://sebsnjaesnews.rutgers.edu/2022/02/booker-t-whatley-gsnb57-phd-horticulture-black-innovator-who-reshaped-farming/" target="_blank" rel="noopener">Booker T. Whatley</a>, a horticulturist and agriculture professor at Tuskegee University, Myers says. During the same time, the CSA movement was <a href="https://www.nal.usda.gov/legacy/afsic/defining-community-supported-agriculture" target="_blank" rel="noopener">rising in other countries</a> like Japan and Switzerland. To generate a more secured income for struggling Black farmers, Whatley shared his idea for clientele membership clubs. These clubs were set to not only guarantee customers for farmers, but also help the farmers plan for the season. Today, these goals are the main reason farms across the country start CSA programs. The type of farm that often starts a CSA are the ones with many different crops. "If you are a commodity farmer, you know selling soybeans or corn, you're not the candidate for a CSA. But if you have a diverse selection of produce, dairy, livestock, or honey, you will want to develop a CSA so you can make sure you sell your crop," Myers says. <h2>How a CSA works </h2>Harvest seasons vary by region. It could be year-round in temperate climates like California, or from April through December or February in other parts of the country. Many CSA programs will offer a yearly share, meaning the customer pays a one-time fee before the season begins. Some farms, especially ones that produce year round, will also offer a three month, month-to-month, or weekly payment option. Typically, the fee breaks down to an average price of $15 to $25 per week. Members will receive a box of produce each week during the farm's entire harvest season. What you get in your CSA will depend on where the farm is in the harvesting season. In the beginning of the season, especially on the east coast, you'll see CSA boxes with more leafy greens and herbs, then they'll start to expand with other warm-weather crops like corn, peaches, melons, tomatoes, and berries. Once you approach the end of summer into fall, you'll start to see more root vegetables, winter squashes, potatoes, and apples. The size of the box can vary, too, which also impacts the price. Many programs will offer boxes (also known as shares) that come in different sizes, small enough to feed one person or large enough for families. <h2>What are the pros and cons of joining a CSA program?</h2><div type="image" title="Fresh produce including carrots, red leaf lettuce, and other green, leafy vegetables." height="4000" width="6000" msid="92684349" hostid="261" sizebytes="1003868"></div>There are a plethora of pros and cons to consider before you join a CSA program. <h3>Pros</h3>CSA programs support and maintain local ecosystems. "If we can keep farmers successfully farming, harvesting, growing, handing the land off to the next generation, teaching that generation how to do that – then we're really ensuring we're taking care of our <keyword id="11894142" type="UNKNOWN" weightage="60" keywordseo="food" source="Orion">food</keyword> needs, our health needs, and we're supporting a healthy ago-ecosystem," says Myers. When you support the ecosystem through agriculture, you help maintain the presence of healthy pollinators, wildlife, and other parts of our natural environment that we need to survive. Contributing to the support of farms through these programs also encourages farming as a continued profession, says Myers. CSAs are beneficial for the local economy too, since all of the money goes directly to the farmer. Those farmers can then put money back into the economy through the revenue they've generated. If you're concerned about your <a href="http://blogs.colgate.edu/sustainability/2017/09/06/why-you-should-consider-community-supported-agriculture-csa/" target="_blank" rel="noopener">environmental footprint</a>, many CSA farms are smaller and use healthier farming practices that help maintain the land. Plus, it takes much less transportation and production emissions for the food to get to you. The produce from CSAs are also picked at the height of their ripeness and nutritional value, and the fresh produce can encourage creativity in your cooking. <h3>Cons</h3>Though there are many benefits, there are some possible drawbacks to consider before joining. CSAs are based on what's ready to harvest, so you don't have control over what produce you're getting each week. Some weeks your box may contain certain types of fruits or vegetables you may not like or aren't familiar with. Some programs allow you to swap items, but others are less flexible. You'll also likely have to wait until a certain day to pick up or receive your share of produce, so you don't have the convenience of going to the grocery store any time. Depending on the CSA, the cost can be quite intimidating. Some CSAs only offer an up-front, one-time payment for the season, which can be hundreds of dollars. It's also worth noting that joining a CSA doesn't necessarily guarantee you produce. You're buying a share in that season's crop, so if it's a bountiful year, you may get a lot. But, if it's a year impacted by drought or natural disasters, you could get less (or even none), though this is rare and some farms have programs in place to mitigate this from happening. <h2>How to find a CSA program near you</h2><div type="image" title="A selection of chives, eggs, potatoes, and tomatoes in front of a white box with the logo reading “Upstate Farms,” full of basil, radishes, and other produce." height="900" width="1200" msid="92684350" hostid="261" sizebytes="82652"></div>It's key to do your research before you join a program, especially if you're looking for one that meets certain needs. Before you begin, consider if you'd like a program that's flexible with payments and share sizes, especially if you're only looking to buy a share for yourself. You'll also want to determine whether you're looking for a program that caters to a specific need in the community, whether that be growing organic crops only, focusing on <a href="https://www.csuchico.edu/regenerativeagriculture/ra101-section/ra101-definitions.shtml" target="_blank" rel="noopener">regenerative agriculture</a>, or serving the community with a specific mission. Some farms do all of the coordinating themselves, but there are other farms that use organizations to help the flow of the CSA. Many of these organizations work in community access, and seek out farmers they're looking to support directly, like BIPOC or LGBTQIA+ farmers. Once you've gathered what type of CSA you're looking for, Myers says a simple Google search is the best place to start. See what comes up in your area, and field through each choice depending on your goals. You can also use websites like <a href="https://www.localharvest.org" target="_blank" rel="noopener">LocalHarvest.org</a> or the <a href="https://www.ams.usda.gov/local-food-directories/csas" target="_blank" rel="noopener">USDA directory</a>, though they may not have every farm listed. <h2>Insider's takeaway</h2>CSA programs are a selling plan for farms that connects them directly to the customer. Members of the community will buy a share of the farm's produce each season. This guarantees a market for the farm, and the customers get fresh produce each week of the harvest season. CSA programs can vary in the amount of produce you receive, how often you receive produce, what produce you receive, the cost of the share, and the length of the season.There are many benefits to CSA programs aside from getting peak quality produce, such as supporting the area's ecosystem, contributing to the local economy, and a reduced environmental impact. There are also a few possible drawbacks to consider before joining, like cost. Determine your needs, then search for a program that works best for you.

What is a CSA? Everything you need to know about Community Supported Agriculture programs and why they matter

<ul class="summary-list"><li><keyword id="12793724" type="UNKNOWN" weightage="60" keywordseo="life-expectancy" source="Orion">Life expectancy</keyword> data from 2019 showed a national average of 78.8 years.</li><li>Hawaii had the highest life expectancy, at 80.9, and Mississippi had the lowest at 74.4.</li></ul>A <a href="https://www.cdc.gov/nchs/data/nvsr/nvsr70/nvsr70-18.pdf">National Vital Statistics Report</a> published Thursday captured a six-year gap in life expectancy between states with the highest and lowest estimates at birth.Based on data collected in 2019, Hawaii had the highest average life expectancy: 80.9 years. On the lower end, Mississippians born in 2019 could expect to live an average of 74.4 years, according to the Centers for Disease Control and Prevention's <a href="https://www.cdc.gov/nchs/nvss/life-expectancy.htm#publications">National Center for Health Statistics</a>.The national average life expectancy for 2019 was 78.8 — just a fraction of a point up from 2018. Since the center collected these data on the eve of the pandemic, the effects of COVID-19 on life expectancy statistics have yet to be documented.Here's how the states stacked up in 2019:<h2>Longest-living states tend to be financially well-off</h2>Hawaii's impressive life expectancy is tied to more than just surf and sand. The state also has one of the <a href="https://www.census.gov/quickfacts/geo/chart/US/INC110219">higher median household incomes</a>, after the District of Columbia, Maryland, and New Jersey.Life expectancy and socioeconomic status tend to follow similar geographic patterns, Elizabeth Arias, the lead author of the <keyword id="11917544" type="UNKNOWN" weightage="60" keywordseo="cdc" source="Orion">CDC</keyword> report, told <a href="https://www.nbcnews.com/health/health-news/compare-life-expectancy-state-2019-mississippi-lowest-hawaii-highest-rcna15562">NBC</a>."Really well-to-do areas had really high life expectancies," she told the outlet, noting that just nine percent of Hawaii residents lived below the poverty line in 2019.The maps don't line up exactly, but many of the wealthier states had relatively high average life expectancies in the 2019 report and past analyses.The states with the highest life expectancies after Hawaii were California, New York, Minnesota, Massachusetts, Connecticut, New Jersey, Washington state, Colorado and Vermont. With the exception of Vermont, these states' median incomes were between $5,000 to $15,000 higher than the national average in 2019.<h2>Southern states had some of the lower life expectancies</h2>Most of the states with the lowest average life expectancies were located in the South, according to the 2019 report.West Virginia, Alabama, Kentucky, Tennessee, Arkansas, Oklahoma, Louisiana, South Carolina, and Ohio made up the lowest percentile along with Mississippi. Many of those states had relatively high percentages of residents living before the national poverty line. NBC reported that Mississippi had the largest portion of people in poverty in 2019: 19.5 percent, according to the <a href="https://data.ers.usda.gov/reports.aspx?ID=17826#P0fe0d2185f6942b7bc78ab5db6b4527a_2_229iT3">US Department of Agriculture</a>.Smoking tobacco is also more prevalent in the South, <a href="https://abcnews.go.com/Health/hawaii-highest-life-expectancy-81-years-2019-cdc/story?id=82771269">ABC</a> reported. The South and the Midwest have higher rates of obesity than other regions in the US, according to the <a href="https://www.cdc.gov/obesity/data/prevalence-maps.html#:~:text=Across%20States%20and%20Territories,20%25%20of%20adults%20with%20obesity.&amp;text=The%20Midwest%20(34.1%25)%20and,and%20the%20Northeast%20(28.0%25).">CDC</a>, as well as poorer access to healthcare in some southern states. Mississippi, Tennesseee, and Oklahoma have some of the higher uninsured rates in the country, according to the <a href="https://www.kff.org/other/state-indicator/health-insurance-coverage-of-the-total-population-cps/?activeTab=map&amp;currentTimeframe=0&amp;selectedDistributions=uninsured&amp;sortModel=%7B%22colId%22:%22Location%22,%22sort%22:%22asc%22%7D">Kaiser Family Foundation's State Health Facts</a>.While Mississippi had the lowest life expectancy across populations, West Virginia had the lowest average for women: 77.3 years. However, the report found life expectancy was higher for women in every single state and in Washington, D.C.

Map reveals your life expectancy depending on the state you live in

<ul class="summary-list"><li>Drought has driven the <a href="https://www.businessinsider.com/before-and-after-photos-mississippi-river-dramatic-drop-2022-10">Mississippi River</a> to <a href="https://www.businessinsider.com/photos-dry-mississippi-river-waters-ground-barges-reveal-old-shipwreck-2022-10">historic low levels</a>, choking US agricultural exports.</li><li>The <a href="https://www.businessinsider.com/drought-crisis-prompts-army-engineers-to-dredge-the-mississippi-river-2022-10">crisis</a> has increased shipping prices, and that cost may fall on consumers.</li></ul>A crisis of low water levels on the Mississippi River could soon reach consumers' wallets, and it's not forecast to end until January.A <a href="https://www.businessinsider.com/heat-waves-are-dominating-summer-and-its-not-abnormal-anymore-2022-7">summer of heat waves</a> baked the central US, evaporating water off the Mississippi. In fall, a flash drought struck the Ohio and Missouri river valleys, preventing them from replenishing the larger river. At that point, they'd only contributed small amounts of water from snowmelt to its flow, according to AccuWeather meteorologist Paul Pastelok. By early October, the Mississippi River was breaking low-water records.<div type="image" title="man sits on rock watches people walk across exposed river bottom to big rock island in the mississippi river" height="1600" width="2133" msid="95164959" hostid="261" sizebytes="558654"></div>The receding waters have global implications. The Mississippi River basin <a href="https://www.nps.gov/miss/riverfacts.htm#:~:text=The%20agricultural%20products%20and%20the,livestock%20and%20hogs%20produced%20nationally.">produces</a> about 92% of US agricultural exports, including 60% of US grain exports, which travel down the river to the Gulf to ship across the world. Much of that shipping stalled in mid-October, then resumed at a crawl. AccuWeather doesn't expect enough rainfall to replenish the river until January at the earliest. Experts say we haven't seen the full impact yet. <h2>Consumers could pay the price for shipping slowdowns</h2><div type="image" title="side by side satellite images show mississippi river in october 2021 and october 2022 with much more dry earth" height="1523" width="2400" msid="95164960" hostid="261" sizebytes="528438"></div>While the US inland waterways system saves the country between $7 billion and $9 billion annually compared to costs of other systems, like truck or freight, economic losses incurred from the Mississippi River drought are significant. Through December, AccuWeather estimates $20 billion in losses caused by increased transportation costs, shipping delays, and job losses.But Deb Calhoun, senior vice president at the Waterways Council — a group that advocates for modern waterway infrastructure — told Insider she expects losses to be far greater than $20 billion once all the data is aggregated, and consumers will feel the impact."Those shipping rates are going to go up, and ultimately, those get passed to the consumer," Calhoun said.<div type="image" title="aerial image shows dry brown earth leading down to background river with a long patch of mud where water has recently dried" height="1532" width="2042" msid="95164962" hostid="261" sizebytes="275816"></div>She added that still, transporting via the river is the "most cost competitive way" to move goods."We probably haven't quite seen the impact of it yet to the consumer market," she said, adding, "What everyone's concerned about now is getting the goods as quickly as possible to those destinations and those buyers around the world who are waiting for their product. So, commerce is moving right now, but it's moving inefficiently and it's moving really slowly."<div type="image" title="paddlewheel boat full of windows passes between two bridges with low water on mississippi river" height="1533" width="2044" msid="95164964" hostid="261" sizebytes="721172"></div>The US Army Corp of Engineers (USACE) has been dredging the river 24/7 to keep it deep enough for barges, USACE representatives told Insider. They expect to keep up that pace until the rivers rise again in January."We haven't had any channel closures — knock on wood — to date. But it gets to be a challenge as the river levels continue to go down," Lou Dell'Orco, chief of operations at the USACE St. Louis division told Insider.<h2>An uncertain future for America's shipping artery</h2><div type="image" title="people walk on a brown riverbank with a barge in the distance in the water" height="1998" width="2664" msid="95164965" hostid="261" sizebytes="668112"></div>Supply chain issues are not unique to the drought — the Russian invasion of Ukraine caused countries in Europe to place embargoes on key goods like grain and energy supplies, meaning international buyers are turning to the US to get those goods, which are primarily transported via the Mississippi River. Coal is in high demand right now, Calhoun said, and the low water levels present a challenge to ship it out of the country."This is a temporary blip and we'll get back on track when Mother Nature cooperates," Calhoun said. "We've seen high water and low water in the same shipping seasons sometimes, and the industry will manage those different weather disruptions as they come."<div type="image" title="aerial view of barge traveling down thin mississippi river with vast dry banks" height="1532" width="2043" msid="95164968" hostid="261" sizebytes="482614"></div>Jon Deason, lead professor of the Environmental and Energy Management Program at George Washington University, isn't feeling as optimistic. He said higher food prices at the grocery store are just the first way consumers will start feeling the impact of low water levels.Pastelok said it's unclear how climate change will affect the Mississippi River in the long term, but it's possible that the river's drought cycle accelerates. Instead of every 10 to 15 years, for example, drought could strike the river every five to 10 years."We can fix it. But so far, we haven't," Deason told Insider, adding, "And the reason we haven't is that the pain hasn't gotten sufficiently severe for people to focus on it and for elected officials to do something about it."<h2>The climate crisis can push drought cycles into new extremes</h2><div type="image" title="aerial photo show long wooden shipwreck on dry banks of low green river" height="1499" width="1999" msid="95164970" hostid="261" sizebytes="769078"></div>Drought is part of the natural cycle of the Mississippi River basin. Waters were similarly low in 1988 and 2012."You can't really put it all on climate change," Pastelok told Insider.Still, he said, climate change could be amplifying the heat waves, drought, and diminishing snowpack that brought the river so low. Scientists have to conduct rigorous analysis to attribute any single event to climate change, but on the whole they're confident that rising global temperatures make extreme heat and drought more severe and more frequent.<div type="image" title="barge passes under bridge on mississippi river low waters" height="1533" width="2300" msid="95164972" hostid="261" sizebytes="470340"></div>In that way, the Mississippi shipping slowdown shows how climate change can operate in the background to push stressful conditions over the edge into crisis."This is a global problem we're going to be having for a long time," Deason said. "For vulnerable places where the economy is heavily dependent on rainfall, like the Mississippi Watershed, it's a real issue."

Summer heat and 'flash drought' dried up the Mississippi River, choking a crucial shipping corridor. It could devastate America's agricultural exports.

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

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<ul><li>The Modi government has allocated ₹2.83 lakh crore for agriculture, this includes ₹1.73 lakh crore for rural development and panchayati raj and the rest is for irrigation. </li><li>She also emphasised that agricultural markets need to be opened and liberalised and the fisheries, animal husbandry and dairy needs to be provided for.</li><li>Sitharaman in her budget speech also said the government will provide 20 lakh farmers standalone solar pumps in a bid to promote smart irrigation. </li></ul> The Modi government has allocated ₹2.83 lakh crore for agriculture, this includes ₹1.73 lakh crore for rural development and panchayati raj and the rest is for irrigation. "We have provided for 11 crore farmers through Prime Minister Kisan Beema Yojana. Provision of annual assistance to the farmer is made sure through PM Kisan Yojana," the Finance Minister said. She also emphasised that agricultural markets need to be opened and liberalised and the fisheries, animal husbandry and dairy needs to be provided for. She presented 16 points focused on farming, agriculture and irrigation. "We will encourage states to take up model agricultural laws, comprehensive measures for 100 water stressed districts, Prime Minister Kusum scheme removes dependence on kerosene and encourages use of solar power, the government will also encourage balanced use of fertilisers. This is an important step because currently use of chemical fertilisers is incentivised." Sitharaman in her budget speech also said the government will provide 20 lakh farmers standalone solar pumps in a bid to promote smart irrigation. Moreover, 15 lakh farmers will get solarise grid connected pump sets. For this, the government has expanded the Pradhan mantri Kisan Urja Suraksha evem Utthan Mahabhiyan (PM KUSUM scheme). PM Kusum was introduced in August 2019 and is committed to add a solar capacity of 25,750 MW by 2022. This comes Both the state and central government aims to double the farmer income by 2022. She also added that the government will “set up solar power generation units and also sell surplus power to the solar grid” in the non-cropping season. This will help farmers to make a living out of barren lands. Apart from this, FM also prosed a Kisan Rail in public-private partnership that will enable transport of perishable goods including fruits, vegetables, dairy products, fish etc. A similar proposal was announced by Mamta Banerjee in 2009-10, however it couldn't be implemented. "To build a seamless national cold supply chain for perishables, the Indian Railways will set up Kisan Rail through PPP model so that perishable goods can be transported quickly," she said. See also: <a href="https://www.businessinsider.in/budget/news/union-budget-2020-live-updates-news-and-highlights/liveblog/73824572.cms">Check live budget 2020 updates here</a>

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