Search Result for : Fci

The Dollar Business Bureau The country is looking at good wheat output this year. Wheat procurement is generally done during April to March wheat marketing year. But this year procurement of wheat was taken up a month earlier by the Food Corporation of India. Till now about 30.1 MT of wheat has been procured by the FCI and other state agencies in the ongoing rabi marketing season of 2017-18. This is far beyond last year's total purchase of 22.9 MT of wheat. Wheat is procured from the farmers at a minimum support price which is now Rs 1625/quintal a marginal increase of Rs 100/quintal from the price offered last year. The government buys wheat from the farmers at the MSP rate specified to ...

PTI A top Adani Group official today met Chief Minister Captain Amarinder Singh and evinced interest in expanding investments in Punjab. President and chairman of several key companies of the Gujarat-based group, Pranav V Adani, met Chief Minister Captain Amarinder Singh here today to discuss possible areas of investment in Punjab. The Group already runs a solar power generation unit in Bhatinda in Punjab and has expressed interest in expanding presence in the state to several other important areas of progress and development, an official spokesperson said after the meeting. The Chief Minister invited Adani to share a brief on the various possible areas of cooperation with the state. Captain Amarinder Singh welcomed the possibility of greater investment by the Group in ...

The Dollar Business Bureau The government decided not to hike urea prices for the next three years, said Union MoS for Chemical and Fertilizers, Hansraj Gangaram Ahir. While addressing the gathering present at the NDA government’s ‘Vikas Parv,’ Ahir stated that some measures have to be implemented to benefit farmers as Prime Minister Narendra Modi-led government strives for the welfare of the farmers. Ahir was accompanied by the Civil Aviation Minister Ashok Gajapati Raju for the event. The minister advised farmers to use neem-coated urea as it requires less investment and output too increases than with the usage of the regular urea, Ahir added. Meanwhile, plans are afoot to revive FCI’s Talcher fertilizer plant which may commence soon with an investment of Rs.6000 crore. ...

Source: PTI   The government on Friday imposed 10% import duty on wheat till March 2016 to curb shipments and liquidate poor quality grains lying in FCI godowns. A copy of notification in this regard was placed before the Lok Sabha by Finance Minister Arun Jaitley. Jaitley said that the notification dated August 7 seeks to "impose basic customs duty of 10 per cent on wheat till March 31, 2016 under Section 159 of the Customs Act 1962." At present, there is no import duty on wheat. Private traders are importing the grains on lower global prices and lack of high-quality grains in the domestic markets. Imports are happening despite bumper domestic wheat output in 2014-15 crop year and surplus stocks ...

Sai Nikesh | The Dollar Business Keeping in view the consumers’ interests, Indian Flour Millers Federation, on Friday, urged Government of India not to impose duty on wheat imports. Veena Sharma, Secretary, Roller Flour Millers' Federation of India (RFMFI), confirmed this with The Dollar Business, while also informing that an official representation was submitted to the government in this regard. Speaking further, she said “We have not imported anything in the last one decade. However, the importing situation occurred as a result of the sale of sub-standard quality wheat to millers.” “Government relaxed procurement norms and procured rain-affected sub-standard quality wheat, which is being sold to the millers. When we get sub-standard quality wheat under Open Market Sale Scheme (OMSS), naturally, ...

The Dollar Business Bureau In a move to curb shipments and settle poor quality grains lying in storage godowns, Government of India is likely to impose 10% import duty on wheat shipments. However, the decision is yet to be taken based on the consultations with the concerned ministry and departments. Currently there is no import duty on wheat imports. The traders and flour millers are importing grains on lower price, due to lack of availability of high-quality stock in domestic markets. Imports are on rise despite the bumper domestic wheat output in the 2014-15 crop year, and surplus stocks with the Food Corporation of India (FCI) in their storage godowns. The government’s move in this regard will definitely come as a help to ...

 The Dollar Business Bureau The large coverage of the National Food Security Act (NFSA) will inevitably intensify the requirements for food grain procurement, storage and distribution. And, given the size of India’s stocks compared to the world’s total utilisation, there will also be considerable potential impacts on the world market, said an Organisation for Economic Co-operation and Development (OECD) report. In 2013, the National Food Security Act (NFSA) was passed, which aims to provide food security to 67% of the population by distributing a fixed amount of subsidised grain each month. The government of India implements its price stabilisation and food security policies through the Food Corporation of India (FCI). FCI has been successful at providing remunerative prices for ...

The Dollar Business Bureau The Government of India (GoI) has decided that the sale of food grains for the year 2015-16 would continue through the existing Open Market Scheme (OMS). The information to this effect was provided to the States by the Department of Food and Public Distribution, Ministry of Consumer Affairs, GoI, on Tuesday. In an official release, the government said that it has decided to continue the sale of wheat in the domestic market under the OPS scheme, but only in subject to specific changes. According to the first such modification, the sale of wheat under the above-said scheme would be implemented after March 31, 2015, but only in the non-wheat procuring States. The non-wheat procuring States ...