The Central Board of Excise and Customs (CBEC) in a notification said that it seeks "to (i) increase rate of basic customs duty on Peas, (Pisum sativum) from present Nil rate to 50%. (ii) increase rate of basic customs duty on wheat from 10% to 20%."
The Cabinet Committee on Economic Affairs (CCEA), chaired by Prime Minister Narendra Modi, has approved the MSPs of all rabi (winter-sown) crops for 2017-18. MSP is the rate at which government buys grain from farmers.
Production of summer-sown rice is estimated to fall 2 percent to 94.48 million tonnes, while production of pulses could drop 7.5 percent to 8.71 million tonnes, the government said in a statement.
The country is likely to receive 247,000 tonnes of wheat in September, the highest monthly arrival since February, according to Thomson Reuters agricultural flows data, with five vessels scheduled to arrive from Ukraine.
Record output has been achieved in rice, wheat, coarse cereals and pulses on the back of good rains in the said period. Foodgrain production had declined to 251.57 million tonnes in 2015-16 crop year (July-June).
"Government of India is going to send one lakh tons of wheat to Afghanistan, and we are trying to send that via Chabahar," the minister said at an event here, days after his visit to Iran.
Food and Consumer Affairs Minister Ramvilas Paswan said there was a provision for revision of the prices of foodgrains every three years in the National Food Security Act (NFSA) 2013.
The OECD-FAO Agricultural Outlook 2017-2026 said the world's population will increase from 7.3 to 8.2 billion over the course of the next decade with India and Sub-Saharan Africa accounting for 56 per cent of total population growth.
Normally, wheat marketing year runs from April to March. But the procurement this year was undertaken a fortnight early by the Food Corporation of India (FCI) as well as state agencies.
Wheat inventories at ports have climbed to a record high of about 1.8 million tonnes, mainly cargoes shipped from Australia and the Black Sea region, trade and industry sources said.
Out of the total arrival, the five government procuring agencies have purchased over 72.76 lakh metric tonnes while traders have purchased more than 6,854 metric tonnes at Minimum Support Price.
In its second estimate, the agriculture ministry had pegged a record wheat output of 96.64 MT for the current crop year (July-June) as against the actual output of 92.29 MT last year.
Wheat and rice are being sold through PDS (public distribution system) shops, also known as fair price or ration shops, at a highly-subsidised rate of Rs 2 and Rs 3 per kg, respectively, as per the Food Security Law.
Wheat arrivals from fresh crop has started hitting the domestic markets. Arrivals have started in Madhya Pradesh, Maharashtra, Gujarat, Rajasthan, Haryana, Pun ...
Food regulator FSSAI today said major wheat-flour brands like ITC, HUL, Cargill and Patanjali would begin to fortify wheat flour with iron, folic acid and vitamin B-12.
The first cabinet meeting presided over by Chief Minister Yogi Adityanath decided that 5,000 wheat centres will be set up in the state monitored by ministers for smooth procurement of the crop this season, senior ministers Siddharth Nath Singh and Srikant Sharma told newspersons here.
India, the world's second-biggest wheat producer, lowered the import tax on the grain to 10 percent from 25 percent last September and scrapped the duty on December 8.
The Centre is considering imposing import duty on wheat in order to protect farmers amid projections of a record output this year. On December 8‘ 2016, the g ...
Watch Manisha Gupta of CNBC-TV18 speaking about the current trend and updates from the agro commodity space.
Wheat farmers in Uttar Pradesh are worried as wheat prices has slipped below the Minimum support prices ahead of a bumper wheat harvest in ongoing Rabi season. ...
Storehouses are overflowing with commodities such as lentils and soybeans after waves of farmers answered Prime Minister Narendra Modi's call last summer to ramp up local production to cut a hefty import bill, driving prices sharply lower.
“Our view fundamentally for India market was around 20 percent return but after the rally, it looks like we could do another 10-11 percent return until the end of the year helped by liquidity,” Prabhat Awasthi, Head of Equity & MD, India, Nomura said in an interview with CNBC-TV 18.
The Food Corporation of India (FCI) plans to start the new procurement season for wheat without any excess inventory, reports the Financial Express.
As per reports, Government could impose a 15% imprt tax on wheat by the mid of March. India lowered the import tax on wheat to 10% from 25% in September 2016 a ...
India is likely soon to impose an import tax of 25 percent on wheat, two government sources said on Wednesday, reinstating the tariff after a gap of nearly three months following big purchases from overseas in recent months.