Reuters – India will provide three million tonnes of wheat to bulk consumers such as flour millers. The move is part of efforts to bring down prices, which jumped to a record high Jan. 25, a government official told Reuters. The allocation is more than traders’ expectations of around two million tonnes. The market waited
India jumps bulk consumer wheat quota
India replaces COVID-era free food program with cheaper option
Reuters – India ended its COVID-19 era free food program on Dec. 31 and will replace it with a cheaper program expected to save the government nearly US$20 billion in the next 12 months. India Food and Trade Minister Piyush Goyal said the government will stop the free food program after 28 months because the
India set to offer wheat to processors to tame prices
Reuters – India is set to offer two to three million tonnes of wheat to bulk consumers such as flour millers and biscuit makers as part of efforts to cool record high prices, two government sources said, even as state reserves have dropped to the lowest in six years. Wheat prices have surged in India
India expects normal monsoon rains
Reuters – India will likely see normal monsoon rains in 2022, the state-run weather office said May 31. A spell of good rains could lift farm and wider economic growth and keep a lid on inflation, which jumped to an eight-year high in April. India is likely to see rainfall at 103 per cent of
India bans wheat exports as heat wave hurts crop, domestic prices soar
Ban could push global wheat prices to new peaks
Mumbai | Reuters — India banned wheat exports on Saturday days after saying it was targeting record shipments this year, as a scorching heat wave curtailed output and domestic prices hit a record high. The government said it would still allow exports backed by already issued letters of credit and to countries that request supplies
India sells record 1.4 million tonnes of wheat in April
Sales surge on unavailability of Black Sea supplies
New Delhi | Reuters — India exported a record 1.4 million tonnes of wheat in April, four trade sources said, providing some relief to grain markets as buyers scramble for alternatives to Black Sea supplies hit hard by the war in Ukraine. April is the first month of the fiscal year. India, the world’s second
Indonesia’s palm oil export ban seen short-lived on limited storage
Jakarta/Mumbai | Reuters — Indonesia’s ban on palm oil exports is unlikely to last more than a month as Jakarta has limited infrastructure to store the surplus oil and the country faces mounting pressure from buyers to resume shipments, industry officials said. The world’s top palm oil exporter announced plans to ban exports on Friday,
Record wheat crop, high stocks to help India meet rising export demand
New Delhi | Reuters — Bumper harvests and overflowing grain bins will help India to meet wheat import needs of the world’s top buyers as Russia’s Ukraine invasion hits supplies from the Black Sea region, a top government official said. India, the world’s second biggest wheat producer, is prepared to meet any extra demand for
Potash importers brace for prolonged price rally after sanctions on Belarus
Prices are already at a 13-year high and U.S. sanctions will likely fuel further rises
Reuters – Global potash prices are set for an extended rally after the United States imposed sanctions on major supplier Belarus Potash Company (BPC), piling more pressure on farmers and consumers already facing rocketing costs and a global economy navigating rising food inflation. Prices were already at 13-year highs before the U.S. move on Dec.
India’s Modi backs down on farm reforms in surprise win for protesters
Laws to be repealed in upcoming parliament session; protests to continue until then
Ghaziabad, India | Reuters — In a surprise announcement Friday, India’s Prime Minister Narendra Modi said he would repeal agriculture laws that farmers have been protesting against for more than a year, sparking celebrations for what farmers called a hard-fought victory. Modi’s decision is a significant climb-down for the combative leader and comes as state
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