According to Geojit, The Indian Sugar Mills Association has written to the Prime Minister's Office as the delay in approval of the minimum selling price of sugar has become a concern for mills, an industry source said.
Geojit's report on Agri Picks
The Indian Sugar Mills Association has written to the Prime Minister's Office as the delay in approval of the minimum selling price of sugar has become a concern for mills, an industry source said. India's soybean output is likely to rise 11.3% to 10.4 mln tn in 2020-21 (Jul-Jun) as a rise in acreage will more than offset impact of crop damage in some regions, according to a Cogencis poll of 13 key market players. The government yesterday introduced three bills related to farm sector reforms in the Lok Sabha. The bills--The Farmers' Produce Trade and Commerce (Promotion and Facilitation) Bill, 2020, The Farmers (Empowerment and Protection) Agreement of Price Assurance and Farm Services Bill, 2020, and The Essential Commodities (Amendment) Bill, 2020--will replace the ordinances promulgated in June. The Organization of the Petroleum Exporting Countries expects slower growth in global crude oil demand in 2021 due to impact of COVID-19 in Asia, which is also expected to spill over to the first half of next year. India received 8.0 mm rainfall yesterday, 38% above normal, the India Meteorological Department said. Since the start of monsoon season on Jun 1, the country has received 855.8 mm rainfall, 7% above normal. Farmers planted sugarcane across 5.25 mln ha this kharif season, nearly 1.4% higher from a year ago as of Thursday, farm ministry data showed. Farmers have sown cotton across 12.9 mln ha in 2020-21 (Jul-Jun), up 2%, as of Thursday, data from the farm ministry showed. Farmers have sown soybean across 12.1 mln ha in the kharif season as of Thursday, up 7.0% from a year ago, farm ministry data showed.
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