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Union Minister of State for Food Processing Industries, <keyword id="2627479" type="General" weightage="80" keywordseo="prahlad-singh-patel" source="Orion">Prahlad Singh Patel</keyword> on Thursday said that the Centre will encourage and promote not just the production of millets but also processed millet products for the global market. "Next year, i.e. 2023, is the International Year of Millets. <keyword id="3658" type="General" weightage="100" keywordseo="india" source="Orion">India</keyword> produces 40 per cent of world's millets. Our government has made tremendous efforts to promote millets and not just for production but also for processed millet foods for supplying to international markets," Patel told mediapersons. Patel was speaking on the sidelines of the first Plant-Based Foods Summit organised by Ministry of Food Processing Industries (MoFPI), Agriculture &amp; Processed Food Products Export Development Authority (<keyword id="60672" type="General" weightage="80" keywordseo="apeda" source="Orion">APEDA</keyword>), and Plant Based Foods Industry <keyword id="6356105" type="General" weightage="80" keywordseo="association" source="Orion">Association</keyword> (<keyword id="14035967" type="General" weightage="80" keywordseo="pbfia" source="Orion">PBFIA</keyword>). In his speech, he batted for millets and spoke of the parameters and enabling factors by APEDA for millets and plant-based food and such processed food. "Our Ministry has been allotted over Rs 10,000 crore for promotion of this kind of food. The only condition is that the company should be Indian," Patel said, and gave example of several traditional Indian food items that just "need to be validated by scientific documentation of traditional practices". "India has traditionally been a supporter of plant-based food. It has been our strength," the Minister said and assured support for the plant-based industry. <keyword id="118292" type="General" weightage="80" keywordseo="sanjay-sethi" source="Orion">Sanjay Sethi</keyword>, Exective Director of PBFIA, appealed to the animal-based food industry "to not look at us as competitors but rather as a younger brother" and also suggested hand-holding for the nascent industry. With sustainability and human health as key driving forces behind the activities of the Association, the foremost aim of PBFIA is to make plant-based foods mainstream while providing new avenues for economic growth. <keyword id="14035966" type="General" weightage="80" keywordseo="inoshi-sharma" source="Orion">Inoshi Sharma</keyword>, Executive Director, <keyword id="154680" type="General" weightage="80" keywordseo="fssai" source="Orion">FSSAI</keyword>, pointed to the increasing disconnect with India's traditional food items, which is evident much more in urban areas. "If I say, I am eating roti and <keyword id="863602" type="General" weightage="80" keywordseo="baingan-bharta" source="Orion">baingan bharta</keyword>, I am looked down upon. But the moment I say, I am having baba ganoush and pita bread, I am cool. Why are we going away from our own food?" <keyword id="445" type="General" weightage="80" keywordseo="sharma" source="Orion">Sharma</keyword> also assured full support from FSSAI. Rachel Dreskin, CEO, Plant Based Food Association, US, drew attention to the main reasons for promoting plant-based food: environmental benefit vis-a-vis reduction of green house gases; human health and social justice. The event also saw the launch of a pertinent report, 'The Dawn of a Plant-Based Age: India to Lead the Way to World Food Security and Nutrition'. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="http://www.businessinsider.in/india/news/tomatoes-brinjal-and-green-vegetable-prices-soar-and-will-keep-going-up-due-to-rains/articleshow/91802500.cms">Tomatoes, brinjal and green vegetable prices soar and will keep going up due to rains</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="http://www.businessinsider.in/science/environment/news/an-israeli-company-has-partnered-with-an-indian-company-to-locally-produce-a-machine-that-generates-drinking-water-from-air/articleshow/91791365.cms">To help fight water scarcity, a machine that produces drinking water from air has been launched in India</a>

With 2023 as the 'International Year of Millets', India all set to promote millet products in global market

For the first time, 4,000 kg kilogram mangoes, spanning 16 varieties from West Bengal and <keyword id="30033" type="PERSON" weightage="20" keywordseo="Bihar">Bihar</keyword>, will be exported to Bahrain and will be displayed in different stalls there for eight days. The process is a part of the effort to promote the local and lesser-known mangoes internationally. To promote the lesser-known mangoes of the state and Bihar, the Agricultural &amp; Processed Food Products Export Development Authority (<keyword id="60672" type="COMPANY" weightage="20" keywordseo="APEDA">APEDA</keyword>) has organised the event for the promotion of these kinds of mangoes so that these can develop an international acceptance which eventually will enhance production. The exported mangoes will be showcased at 13 stores in Bahrain from June 11. Other than a few commercial kinds, most of these varieties are indigenous, lesserknown and confined to the local areas only. "One of the APEDA registered exporters from <keyword id="6354925" type="LOCATION" weightage="20" keywordseo="kolkata">Kolkata</keyword> is hosting the programme at Bahrain along with their importer client," a senior state <keyword id="159624" type="COMPANY" weightage="20" keywordseo="horticulture-department">Horticulture Department</keyword> official, who did not want to be identified, told IANS. All these varieties have been chosen based on their characteristics of being extremely delicious and unique in their own way. The first consignment was shipped on Tuesday. The second consignment would be shipped on June 10, depending upon the flight availability. The Horticulture Department official said that the mangoes would be sent by the exporter from the Centre for Perishable Cargo (<keyword id="71602" type="COMPANY" weightage="20" keywordseo="CPC">CPC</keyword>) Kolkata Airport on a commercial basis. Considering the fruit's perishability, the export consignment has been divided into two parts. According to senior government officials, the entire programme was conceptualised and organised by the exporters and importers themselves. "We are only working as facilitators. The importer and the exporter have jointly have done all the necessary arrangements to organise the show at their stores which includes live streaming through WEBEX at 5 of its stores, attractive display of the mangoes, preparation and putting up of banners/posters, inviting the local government officials and customers from other Gulf countries for the launch of the show," an official said. "Such export promotion activity may open new horizons for the farmers and exporters to start sending overseas the indigenous and unique varieties of mangoes and thus help in the mandate of the state government to raise the farmers' income," the official said. SEE ALSO <a target="_blank" class="c-link" href="https://www.businessinsider.in/india/news/india-covid-vaccine-policy-changes-june-21-yoga-day-pm-modi/articleshow/83308314.cms">These are the changes in India’s vaccine policy that will kick in from June 21</a> <a target="_blank" class="c-link" href="https://www.businessinsider.in/stock-market/news/pnb-housing-finance-shares-hit-upper-circuit-six-days-in-a-row-but-the-potential-upside-could-be-limited-now/articleshow/83305929.cms">PNB Housing Finance shares hit upper circuit six days in a row, but the potential upside could be limited now</a> <a target="_blank" class="c-link" href="https://www.businessinsider.in/india/news/heres-why-fuel-prices-in-india-may-not-come-down-in-a-big-way/slidelist/83299743.cms">Here’s why fuel prices in India may not come down in a big way ⁠— at least not this year</a>

4,000 kilograms of mangoes in 16 varieties, from West Bengal and Bihar, to be showcased in Bahrain

New Delhi, Jan 31 () Agricultural and Processed Food Products Export Development Authority (APEDA) and Andhra Pradesh have dispatched the first shipment of 890 tonnes of high quality banana from Anantpur district of the state to Jawaharlal Nehru Port in Mumbai for global markets, an official statement said on Friday.
 It said the commerce ministry's agri export policy has notified banana cluster in Anantpur and Kadapa districts of Andhra Pradesh.
 The exporting company has provided expertise and technology to help banana growers in Andhra Pradesh for enhancing the quality of banana production, it said.
 More than 500 farmers cultivating bananas in over 1,800 hectares have been trained to boost the production and export of the fruit from Anantpur and nearby districts.
 It said efforts have been made for reducing the transit time to Mumbai port by using refrigerated rail containers. RR SHW
SHW

APEDA, Andhra Pradesh dispatch 890 tonnes of banana to JNPT for exports

The government may soon exempt organic processed foods from export ban. “With a view to provide an enabling policy environment, the Ministry of Commerce and Industry is trying to get that there would never be any ban on organic processed food exports even if the primary produce of that commodity is subjected to some restrictions,” said AK Tripathy, joint secretary, Department of Commerce and Industries at an event organised by <keyword id="6355988" type="CITY" weightage="20" keywordseo="Assocham">ASSOCHAM</keyword>. 
	 
	He further added that India still lacks a credible domestic certification system for food products and this has resulted in the dichotomy between the domestic and exports, which in turn, has raised questions about the credibility of India’s organic food exporters. 
	 
	“There is another challenge that today there is no credible domestic certification system in India and that is something the Ministry of Agriculture or whoever has to do. If domestic standards are made compulsory then the supply will become much larger and hence the supply available for exports will also be much larger,” noted Tripathy. 
	 Commenting on the issue of lack of domestic standard, Santosh Sarangi, chairman cum secretary of products export body Agricultural and Processed Food Products Export Development Authority (<keyword id="60672" type="ORGANIZATION" weightage="20" keywordseo="APEDA">APEDA</keyword>), emphasized that it was imperative to implement a credible certification system as well as maintain the integrity of it. 
	 
	“All stakeholders like farmers, processors, traders and the certification bodies in the organic process should be fully involved and committed to maintain the integrity of the certification system,” said Sarangi. 
	 
	It is worth noting that India has a huge potential to capture a larger market share of the $64 billion worth global organic food market. 
	Currently, India has less than 1% share in the global organic food basket. 
	 
	“We are working towards increasing the portfolio of organic products available for exports from India in order to have a higher share of organic products which are exported. We are expanding from merely crop production system to include aquaculture, textiles and livestock,” he said.

Govt Mulls Exempting Organic Processed Food From Export Ban

The <keyword id="1893580" type="General" weightage="20" keywordseo="allana-group" source="Orion">Allana Group</keyword>, India's largest exporter of processed food products and agro commodities has been nominated as one of India's largest exporters of wheat. Catering to the greater need of the essential commodity, the Group ensured seamless facilitation of grains and has exported a total of 1,03,877 tonnes for the period of 2 years from 2019-2021. The group witnessed an exponential rise of 1812.30 per cent in their export, transporting over 1,48,000 tonnes in the period of 2021-22. The feat was lauded by the Agricultural and Processed Food Products Export Development Authority (APEDA). In these unprecedented times, the war crisis in Ukraine has led to the unique opportunity to fulfil a massive gap of grain export in the market. The <keyword id="1634518" type="General" weightage="20" keywordseo="allana" source="Orion">Allana</keyword> Group has aggressively functioned to connect India with the global supply chain and has aided in restocking the essential food grains across the world. The Middle East and Gulf countries saw the highest number of wheat exports from the country. Speaking on the commendable feat, Fauzan Alavi, Director, Allana Group said, "The Allana Group has built a great relationship with the Customers in the MENA region. Our expertise in sourcing the highest quality grain and state-of- the-art infrastructure has helped us to achieve this historic feat and bag Gold in the prestigious APEDA Export Awards. We are further targeting a 300-400 million USD export revenue that will not only aid small scale farmers to garner better prices for their crop but also the Central Government in terms of income and reduction in forced procurement of certain commodities." Allana's holistic efforts witnessed the Group winning Gold in Buffalo meat exports and Bronze in Fruit pulp and Frozen Foods exports for the YEAR 2019-20 as well as Gold in Buffalo meat and Cereals and Cereals Preparation exports and Bronze in Fruit Pulp exports for the YEAR 2020-21. SEE ALSO <a class="tout-title-link" href="https://www.businessinsider.in/stock-market/news/ruchi-soya-icici-bank-zee-entertainment-and-other-hot-stocks-to-watch-out-for-on-march-24/slidelist/90410086.cms">Ruchi Soya, ICICI Bank, Zee Entertainment and other hot stocks to watch out for on March 24</a> <a href="https://www.businessinsider.in/policy/economy/news/the-russia-ukraine-conflict-could-shake-up-the-global-balance-of-power-in-3-big-ways-economist-intelligence-unit-says/articleshow/90406629.cms" data-type="tilCustomLink">The Russia-Ukraine conflict could shake up the global balance of power in 3 big ways, Economist Intelligence Unit says</a> <a href="https://www.businessinsider.in/science/health/news/omicron-subvariant-infections-on-rise-in-us-accounts-for-over-34-of-the-new-covid-19-infections/articleshow/90410070.cms" data-type="tilCustomLink">Omicron subvariant infections on the rise in US, accounts for over 34% of the new COVID-19 infections</a>

Allana Group emerges as one of India's largest exporters of wheat

Chennai, Mar 9 () Madhya Pradesh's attempts tojoin the elite 'Basmati' league has failed once again as theMadras High court has dismissed the state's plea seekinggeographical indication (GI) tag for Basmati rice grown inareas falling under the state.A division bench of Justices R Subbiah andC Saravanan also refused to quash an order passed by theIntellectual Property Appellate Board (IPAB) granting GIcertificate for basmati to Agricultural and Processed FoodProducts Export Development Authority (APEDA).The court noted that for a same produce, two GIcertificates of registration cannot be issued and preciselythat is the reason why Madhya Pradesh has approached thecourt."At the same time, we have to observe that thepetitioners have an alternative and efficacious remedyavailable by filing an application to the registrar of trademark seeking to cancel or vary the GI certificate issued toAPEDA," the bench said.The issue pertains to an order passed by IPAB on February5, 2016 granting GI certificate for basmati in APEDA's favour.Aggrieved, Madhya Pradesh contended that such GI tagcannot be awarded to APEDA as some regions falling under MPwhich also produce Basmati has been omitted in the listprovided by APEDA.However,the IPAB rejected its claim observing that thedocuments and evidence filed by Madhya Pradesh show theimportance, special characters of rice cultivated in the statebut not Basmati cultivation in the traditional growing area.Challenging the rejection and the order granting GI forbasmati in favour of APEDA, Madhya Pradesh moved the presentappeal.In May 2010, GI status was given to basmati grown onlyin Punjab, Haryana, Delhi, Himachal Pradesh, Uttrakhand andparts of western Uttar Pradesh and Jammu &amp; Kashmir.Madhya Pradesh moved a statutory opposition demandingthat its 13 districts be recognised as traditional basmatigrowing regions.The 13 districts of Madhya Pradesh which have beenexcluded from the tag are Monera, Vidisha, Bhind, Raisen,Gwalior, Sehore, Sheopur, Hoshangabad, Datia, Jabalpur,Shivpuri, Narsinghpur and Guna.According to Madhya Pradesh, these 13 districts hadbeen growing basmati for several decades and they were locatedin the Indo-Gangetic plains having climatic conditionfavourable for cultivation of basmati. Non-inclusion of the state in the basmati growingareas would have an adverse effect on the lives of farmers whomainly depend upon basmati cultivation, it said. BN BN

Madhya Pradesh plea seeking GI tag for Basmati rice dismissed

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, Dec 20 () First trial shipment of fresh vegetables sourced from Varanasi region was flagged off from Mubmai to Dubai via sea route on Friday.
Agricultural and Processed Food Products Export Development Authority (APEDA) -- as part of its efforts to promote exports from India's agriculture produce rich regions -- had sent the first trial shipment of vegetables by sea route from Varanasi to Dubai, Commerce and Industry Ministry said in a statement.
Considering the potential of production of fruits and vegetables in Varanasi region comprising of 5 districts -- Ghazipur, Jaunpur, Chandauli, Mirzapur and SantRavidas Nagar -- APEDA is in the process of setting up Agri export hubs in these districts, it added.
"The first trial shipment of one container of fresh vegetables was flagged off by Paban Kumar Borthakur, Chairman APEDA and Deepak Agrawal, Commissioner, Varanasi Region in the presence of Kaushal Raj Sharma, District Magistrate, Varanasi today," it said.
In its efforts to set up of agri-export hub, APEDA organised an export promotion programme and buyer seller meet (BSM) for fresh vegetables this year in Varanasi, which was attended by 100 farmers of the region and exporters from Mumbai, Kolkata, Hyderabad and Uttar Pradesh.
Vegetables and fruits exporters association (VAFA), Mumbai have signed an MoU with four farmers producers organisations (FPOs) for sourcing of fresh vegetables and fruits for export to international markets.
FPOs have been engaged to ensure supply of quality produce from the region, the release said.
The initiative of setting up the agri-export hub in Varanasi is "now yielding results" with the sending of the first trial shipment of vegetables sourced from FPOs in Varanasi region to Dubai by sea route for the first time, it added.
The container has the quantity of 14 tonnes of fresh vegetables exported by an export house from Mumbai, supported by VAFA and sourced from three FPOs of Ghazipur and Varanasi.
The release further said that to fast-track the activities taken up for the export hub at Varanasi, a project office of APEDA is being set up there soon for co-ordination and facilitation of all activities. RSN NKD
BAL

First trial shipment of Varanasi vegetables via sea route to Dubai flagged off

New Delhi, Nov 29 () With an objective to push investment in northeastern region of the country, the Department for Promotion of Industry and Internal Trade (DPIIT) is organising a day-long symposium in Guwahati on Saturday.
 The main objective of the symposium is to facilitate knowledge sharing between northeastern states on North East Industrial Development Scheme (NEIDS), good practices in investment promotion and facilitation, reviewing the progress under sector-specific and cluster based development, ease of doing business and promotion of industrial system.
 Detailed presentations will be given to business community on start-up ecosystem and ease of doing business initiatives of the government, a DPIIT official said.
 The focus will be on improving investment ecosystem in the region with a special focus on NEIDS.
 The scheme, covering manufacturing and service sector, was approved on March 21, 2018. It is effective from April 2017 to March 2022.
 It gives encouragement to MSMEs in manufacturing, services. Information technology is leveraged to process and approve proposals and release payment.
 Manufacturing and service units of northeast can avail benefits up to Rs 200 crore per unit under all components of scheme, subject to investment in plant and machinery.
 The official said that northeast region's value chain potential with Bangladesh, the Association of South East Asian Nations (ASEAN) countries and rest of India in agriculture, horticulture, floriculture, processed food, engineering, automobiles, garments, and pharmaceuticals have remained unlocked.
 Department heads of northeastern states, national bodies like APEDA and NEC, representatives from industry associations would participate in the symposium. RR 
RVK

DPIIT to organise symposium in Guwahati on Saturday to push investment in NE region

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
RVK

DPIIT suggests businesses of NE states to focus on textiles, start-ups, agri to attract investments

New Delhi, Nov 24 () The government has asked the Export Inspection Council (EIC) that comes under the Commerce Ministry to make NMR-testing mandatory for honey exported from India to ensure quality as part of its efforts to boost outward shipments. 
The NMR (Nuclear Magnetic Resonance) screening technique is used to test for adulterations and other manipulations. Industry experts believe that this test will ensure quality of honey and help exporters in getting a better price in the international market.
According to representatives from the apiculture industry, the Agricultural and Processed Food Products Export Development Authority (APEDA) - which comes under the Commerce Ministry - had called a meeting of honey exporters on November 18, and a honey export body was set up.
During the meeting, the participants had an unanimous view that the NMR testing should be made mandatory.
"EIC has set up a lab near Mumbai where testing of honey that is to be exported can be done but the services are not available to all beekeepers. Two years ago, honey exporters would get USD 2,900 per tonne but because of adulterated honey, they get about USD 1,500 now," National Bee Board (NBB) executive member Devvrat Sharma told .
After NMR testing, the products will have an assured quality and will lead to higher exports at a better price realisation, he added.
"Last year, 62,000 tonne honey was exported. We got a rate of USD 1,500 per tonne. Our expectation is that after NMR testing, we will start getting a rate of about USD 2,000 or more per tonne," he said.
Prakash Kejriwal, who is an exporter, said: "Honey from India comes before Argentina, Brazil, Ukraine and other honey-exporting countries, and Indian honey from flowers of mustard has a lot of demand internationally."
"Honey made from flowers of from carom seed (ajwain), litchi, eucalyptus, jamun and others are consumed domestically. Beekeepers get Rs 65-75 per kg for the honey," he said.
Kejriwal said after NMR testing, exporters have agreed to pay farmers Rs 85 per kg.
According to estimates, 80 per cent of the honey exported from
India goes to the US, 19 per cent to West Asian countries and one per cent to European countries. SHA SR MJH MKJ
MKJ

Govt wants NMR-testing mandatory for honey exported from India

The <keyword id="6354813" type="COMPANY" weightage="80" keywordseo="nifty">Nifty</keyword> is likely to remain weak-to-range bound in trade on Thursday as negative cues from Wall Street and a bearish opening on other Asian markets keeps sentiment capped on Dalal Street. However, some buying on beaten down indices may emerge during the day. 
 
A strong support level is seen in the 8,325-8,275 range for the Nifty, which ended at 8,363, down 148 points, or 1.7 percent lower on Wednesday. Traders should wait for the first 15 minutes of the market to stabilise before attempting positions on either side. 
 
A 5 percent crash on Chinese stocks on Wednesday sent shockwaves across the investing world. On Wall Street, major indices closed between 1.5-1.8 percent lower. The Dow Index fell to a 3-month low. Stocks in the tech space were the worst hit. 
 
Within Asian markets, Japan's Nikkei hit a 3-month low in Thursday deals, although it has recovered substantially from its day's trough. Stocks in Korea and China have opened in negative territory. 
 
In India, foreign institutional investors were net sellers on equity to the tune of 354 crore rupees in the cash market. They remained sellers for the fourth day in a row. In the derivatives space, the FIIs sold 271 crore rupees worth of Index Futures and 899 crore rupees worth of stock futures. These numbers point to further weakness on Dalal Street. 
 
In the commodity space, Copper and Crude oil futures showed some upside, however, that is seen limited. 
 
STOCKS TO WATCH: 
 
ONGC: Achieves 100.3 percent of crude oil production target in April-June quarter. 
 
MAX INDIA: Insurance companies are likely to enjoy the bounce after the Finance Ministry clarified that foreign shareholding in parent companies of Insurance JVs would not be counted as overseas ownership for computation of FDI in these ventures. 
 
INFOSYS: Signed a multi-million euro deal with customer Deustche Bank to offer software services. 
 
RICE EXPORTERS: India is likely to export 10 percent more basmati rice, based on initial estimates of sowing data by APEDA 
 
(Image credit: Indiatimes)

Top 4 things to look out for in the market today

Move aside Olive oil, Canola Oil and all other varieties of <keyword id="44868" type="UNKNOWN" weightage="80" keywordseo="cooking-oil">cooking oil</keyword> considered high-end or premium. A very unassuming variety of cooking oil has recently taken over the mantel of India’s most expensive edible oils. <keyword id="112445" type="UNKNOWN" weightage="80" keywordseo="groundnut-oil">Groundnut oil</keyword> has become the most expensive cooking oil in India, backed by growing consumption of <keyword id="110639" type="ENTERTAINMENT" weightage="80" keywordseo="peanuts">peanuts</keyword> as table nuts in the form of savouries, as an accompaniment with liquor, snack bars and rise in exports. 
 
Reflecting the rise in demand, farmers are expected to increase groundnut planting by about 15% to 20% in the current kharif season. 
 
Technically speaking, sesame oil is the most expensive vegetable oil in India. But since it is used in very small quantities for direct cooking, groundnut oil remains the most expensive. 
 
The wholesale rate of groundnut oil is Rs 90 per kg while sesame oil is Rs 125 per kg. The retail prices of both the oils are about Rs 135 per litre and Rs 250-Rs 280 per litre, respectively. 
 
The rate of decline of area under groundnut between FY08 and FY14 was -1.5%; the output went up due to increase in productivity. "Direct consumption of peanuts as accompaniment with liquor has been growing as it is the cheapest nut," said BV Mehta, executive director, Solvent Extractors Association of India told the Economic Times. 
 "Groundnut has been increasingly used for direct consumption as table nut as it is the cheapest among all the nuts, but there's no commensurate increase in their production," said Kishore Tanna, chairman, Indian <keyword id="6378870" type="UNKNOWN" weightage="80" keywordseo="oilseeds">Oilseeds</keyword> and Produce Export Promotion Council. According to the third advance estimates, India produced 66.4 lakh tonne of groundnut in the 2014-15 season. 
According to the processing industry, the kernel yield is 70% of the total groundnut with shell. Thus the production of groundnut kernels in 2014-15 was 44.8 lakh tonne. Of this, 7 lakh tonne kernels went for exports, 7.5 lakh tonne for sowing, and 18 lakh tonne for direct domestic consumption. 
 
As against groundnut, sesame sesame production is only 7.5 lakh tonne, of which 3 lakh tonne goes for exports and about 15,000 tonne for sowing, leaving a very small portion for production of sesame oil. 
 
According to industry estimates, the area under groundnut had declined in 2014-15 to 37.25 lakh hectare from 43.20 lakh hectare in the year before. "Area had declined last year as farmers could not get even the minimum support price of Rs 4,000 per tonne," Mehta told ET. 
 
This year, however, industry expects farmers to shift from cotton to groundnut, especially in Gujarat, which accounts for half the country's total groundnut production, followed by Andhra Pradesh and Tamil Nadu. Govindbhai Patel, managing director, GGN Research, a Rajkot-based brokerage firm, said, "The area under groundnut can increase by about 4 lakh hectare to 5 lakh hectare this year." 
 
Indian peanut exports have increased to the Far East. According to Agricultural and Processed Food Export Development Agency (APEDA), groundnut exports increased from 5.35 lakh tonne in 2012-13 to 7.08 lakh tonnes in 2014-15. India ranks second in groundnut production in the world next to China. 
 
But it is not the top exporter like the US as most of the produce is consumed locally. "We cannot enter the European market as we have not been able to deal with the issue of aflatoxin contamination," said a leading Mumbai-based exporter requesting not to be identified. 
 
Apart from taste and price, nutritional parameters have been responsible for the growing consumption of peanuts. 
 
(Courtesy: Thinkstock Images)

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With 2023 as the 'International Year of Millets', India all set to promote millet products in global market

IANS

4,000 kilograms of mangoes in 16 varieties, from West Bengal and Bihar, to be showcased in Bahrain

IANS

APEDA, Andhra Pradesh dispatch 890 tonnes of banana to JNPT for exports

PTI

Govt Mulls Exempting Organic Processed Food From Export Ban

Purba Das

Allana Group emerges as one of India's largest exporters of wheat

IANS

Madhya Pradesh plea seeking GI tag for Basmati rice dismissed

PTI

8 states finalise action plan for agri export policy: Govt

PTI

First trial shipment of Varanasi vegetables via sea route to Dubai flagged off

PTI

DPIIT to organise symposium in Guwahati on Saturday to push investment in NE region

PTI

DPIIT suggests businesses of NE states to focus on textiles, start-ups, agri to attract investments

PTI

Govt wants NMR-testing mandatory for honey exported from India

PTI

Top 4 things to look out for in the market today

Shailendra Bhatnagar

From peanuts, but no longer worth peanuts for sure! Meet India’s most expensive cooking oil

BI India Bureau

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