Paddy sowing continues to lag as area under the key kharif crop was lower by 8.25 per cent at 343.70 lakh hectare till last week of the ongoing kharif season, according to the agriculture ministry.

 

Area sown to pulses and oilseeds also remained slightly lower, while the overall area covered under all kharif crops showed a lag of 25.52 lakh hectare at 1012.99 lakh hectare till August 18 of the 2022-23 kharif season, it said.

 

Paddy is the main kharif crop, sowing of which begins with the onset of southwest monsoon in June. Over 80 per cent of the country's total rice production comes from the kharif season.

 

According to the ministry's latest data, paddy was sown in 343.70 lakh hectare till August 18 of the ongoing kharif season as against 374.63 lakh hectare in the year-ago period.

 

Less area was reported from Jharkhand, West Bengal, Bihar, Odisha, Uttar Pradesh, Chhattisgarh, Madhya Pradesh, Telangana and few other states due to shortfall in monsoon rainfall.

 

In case of pulses, total sown area was down by 7.08 lakh hectare at 125.57 lakh hectare till August 18 of this kharif season from the year-ago period.

 

The acreage of tur, urad, moong, and kulthi showed a slight lag when compared to the year-ago period, the data showed.

 

There was slight lag in sowing of oilseeds till last week as farmers have sown the crops in 184.42 lakh hectare as against 185.85 lakh hectare in the comparable period.

 

However, acreage of coarse cereals remained marginally higher at 172.78 lakh hectare till August 18 of this kharif season, as against 167.42 lakh hectare in the year-ago period.

 

Among cash crops, area sown to sugarcane remained flat at 55.32 lakh hectare, while that of cotton acreage was higher by 7.75 lakh hectare at 124.27 lakh hectare and jute/mesta at 6.94 lakh hectare in the said period.

 

Agriculture Minister Narendra Singh Tomar, while addressing the 11th National Seed Congress in Gwalior, stressed on the need to address the challenge of changing climatic conditions.

 

'Now that the climatic conditions are changing, this challenge has to be dealt with. Now there should be self-sufficiency in pulses and oilseeds also,' an official statement quoted Tomar saying at the event.

 

He said the government is working on a mission mode to make India self-sufficient in pulses and oilseeds, but along with policies and funding, the invention of seeds should be such that it increases productivity and takes the country towards self-reliance.

 

Agricultural scientists have a huge responsibility and have to do more work, he added.

India's food and public distribution department today said it has enough stock of wheat and denied a media report that said the world's second-biggest wheat producer is planning to start importing the staple foodgrain.

 

'There is no such plan to import wheat into India. Country has sufficient stocks to meet our domestic requirements and FCI has enough stock for pubic distribution,' the Department of Food & Public Distribution wrote in a reply to the news item on Twitter.

 

According to the fourth advance estimate of production of major agricultural crops released by the Union Ministry of Agriculture and Farmers Welfare, production of wheat during 2021-22 is estimated at 106.84 million tonnes, as against the reported earlier estimate of 111 million tonnes.

 

A Bloomberg report today said state reserves have declined in August to the lowest level for the month in 14 years, according to Food Corp. of India, while consumer wheat inflation is running at close to 12%.

 

This also comes soon after Reuters reported earlier this month that India could scrap a 40% duty on wheat imports and cap the amount of stocks traders can hold to try to dampen record high domestic prices. If the government does remove the duty, and international prices also fall, then traders say they could start importing, especially during the upcoming festival season, when higher demand typically drives domestic prices higher.

 

India's wheat output was thretened by a scorching heatwave this year, which along with surging export demand for wheat amid the Russia-Ukraine crisis took prices of the foodgrain to record highs, pushing up expnses for billions in the secod-most populous country that was already reeling under iflationary pressure. Ukraine and Russia are two major suppliers of wheat.

 

In Indore, considered one of the key mandis, wheat prices touched as high as Rs 2,400-2,500 per 100 kg, against Rs 2,000-2,100 until the conflict in Ukraine broke out, ANI said. Prices of wheat usually remain on the lower side during this time of the year as freshly harvested rabi crops make their way into the physical markets or mandis.

 

New Delhi also had to ban wheat exports, but it allowed overseas shipments to countries that requested supplies 'to meet their food security needs.'

 

The current wheat price in India is well above the Centre's assured Minimum Support Price of Rs 2,015 per 100 kg, which in itself is a rare phenomenon. Currently, wheat is trading a little below Rs 2,400 per 100 kg in Indore. In other markets too, wheat prices have somewhat softened.

 

Bloomberg said wheat spiked to near $14 a bushel in Chicago in early March as the war in Europe threatened a major source of global exports. Prices have now given up all of those gains as supply fears ease. They’re back below $8, alleviating some of the pressure on developing economies struggling to feed their people.

 

During the recent Parliament session, the government said that there was no shortage of wheat stock in the central pool.

 

'As on 01.07.2022, the actual stock of wheat is 285.10 Lakh Metric Tons (LMT) against the Buffer norm of 275.80 LMT,' Union Agriculture Minister Narendra Singh Tomar said. In reply to another question in the parliament on whether it is true that wheat procurement from farmers has fallen since there was a rise in private procurement who bought wheat directly from farmers, the minister agreed with it.

 

'The procurement of wheat has fallen due to higher purchase of wheat by traders as the market price of wheat had shot up due to prevailing international geopolitical situation,' the Union minister said.

 

'Moreover, if the farmer gets better price in comparison to MSP, they are free to sell their produce in the open market.'

India will follow provisions of free trade agreements (FTAs) over the wider and more stringent domestic framework in case of any dispute over value addition or rules of origin related to imports under FTAs.

 

The decision comes as the country eyes trade deals with large trading partners such as the European Union.

 

The Central Board of Indirect Taxes (CBIC) has instructed its officials to follow provisions in FTAs and the associate rules of origin in case of conflict with Customs (Administration of Rules of Origin under Trade Agreements) Rules (Carotar), 2020.

 

Currently, the Carotar rules require extensive submission of data and facts where, in certain cases, the requirement even goes beyond the stipulated conditions under the bilateral/multilateral FTAs.

 

It empowers customs officers to seek additional information from importers, consistent with the trade agreement, in case the officer has reasons to believe that the country-of-origin criteria had not been met.

DeHaat had an MoU signing ceremony with several FPOs at its Head Office in Patna today. These FPOs operate in the districts of Bihar and are promoted by Mahila Abhivruddhi Society, Andhra Pradesh (APMAS). The MoU was signed by Dr. Dinesh Chauhan, Vice President, New Initiatives, DeHaat, and the Directors of the respective FPOs.

 

Amrendra Singh, Director and Co-Founder of DeHaat was the Chief Guest at this ceremony. Along with him, several other dignitaries and officials from DeHaat and APMAS were present at the occasion.

 

The event was attended by more than two dozen CEOs and the Board of Directors of the concerned FPOs.

 

They shared their insightful experience of working with DeHaat in Bihar. They acknowledged DeHaat's  contribution in conveying and educating them on the importance of enhancing the profitability of their shareholders and making these FPOs sustainable.

 

Amrendra Singh congratulated the CEOs and Directors of the FPOs for their entrepreneurial journey as promoters of their respective FPOs and emphasized the need to have more such successful FPOs in the state. 

 

This will evidently help in generating impetus for other young entrepreneurs in stepping forward and setting up new FPOs, which can gradually revolutionize the agricultural sector in India. DeHaat, on the other hand, will provide all the support required, right from input to output and market linkages under one roof to these FPOs establishing its plug-and-play model.

 

Dr. Dinesh Chauhan, VP, New Initiatives, DeHaat, who is also responsible for building FPO partnerships with the organization addressed the occasion and said, 'DeHaat is already working with more than 250 FPOs across various places and committed to providing its services and enhancing the value of these FPOs through its bundled offerings right at the farmer doorsteps including cattle feed, agri-inputs, farm equipment’s, etc along with other value-added services like soil testing and seed insurance.'

More than 15 Russian banks are in advanced talks with Indian lenders to facilitate bilateral business in their respective local currencies, bypassing the established trade mechanism tied to the US dollar, and are working on building a bespoke reference exchange-rate framework between the rupee and the rouble, people familiar with the matter told ET.

 

Petersburg Social Commercial Bank, Zenit Bank and Tatsotsbank are among the Russian lenders likely to open these customised trade accounts.

Bank of India,Canara Bank NSE -3.40 % and Uco Bank NSE -0.87 % are likely to be the local partners of the lenders from Moscow.

 

Indian Banks’ Association (IBA) is reportedly engaged in facilitating the talks. The Indian Economic Trade Organization (IETO) is coordinating with local companies that are keen on trade with Russia. Banks and the respective regulators are considering setting up a customized common reference exchange rate that will be announced daily by both the Reserve Bank of India (RBI) and the Central Bank of Russia.

 

By contrast, in the ordinary course of global trade, the prevailing rate of a currency in relation to the US dollar is typically the peg used to derive the exchange rate with a third monetary unit.

 

Centro Credit Bank, Bank Soyuz and MTC Bank are also said to be part of the group of Russian lenders that are not under global economic sanctions and are negotiating with their local counterparts, such as the State Bank of India NSE -1.89 %, IndusInd Bank NSE -0.57 %, Bank of Baroda NSE -1.79 % and Yes Bank NSE -0.91 %.

 

Officials at the RBI could not be immediately reached for their comments. Individual banks could not be contacted immediately for comments. IBA and Indian lenders did not respond to ET’s queries.

 

"A host of Russian lenders are in talks with select Indian banks as they are going through several permutations and combinations," said Asif Iqbal, president, Indian Economic Trade Organization. "While the rupee-denominated trade with Russia will pave the way for cheaper oil imports, small to mid-sized public sector banks will look at this as an opportunity to expand their operations to territories where they were never present."

 

With a strong dollar-denominated balance sheet, the SBI NSE -1.89 % may not be able to participate in these bilateral trades bypassing Western sanctions, sources said. Unlike small local lenders that have minimum exposure to dollar assets, SBI would not like to risk its sizable presence in the US and Europe’s richer neighborhoods by entering into trade deals that bypass the world’s reserve currency.

 

The RBI, on July 11, allowed invoicing and payments for international trade in rupees, potentially facilitating greater bilateral business with Russia that is facing a wide range of Western sanctions and is virtually cut off from standard cross-border payment platforms.

 

The move paved the way for settlement of payments in rupees for trades between Indian and Russia by giving greater flexibility in the operation of vostro accounts that Russian banks open with Indian banks for the purpose. A vostro account is one a foreign bank opens with an Indian bank NSE -1.27 % in domestic currency i.e. rupees.

 

India imported goods worth $4.23 billion in June from sanctions-hit Russia, up nearly seven times compared with last year. Crude oil worth $3.02 billion was reportedly imported in June, which translates into a share of 71% of the total imports from Russia.

 

A senior US Treasury Department official will travel to India next week to hold talks with top Indian officials to enhance the strong bilateral economic ties, bolster energy security cooperation and ways to ensure a secure Indo-Pacific region.

 

Deputy Secretary of the Treasury Wally Adeyemo will travel to Mumbai from August 24-25 and New Delhi on August 26 for meetings and events, the treasury said in a statement on Friday.

 

During his trip, Adeyemo will reaffirm and strengthen the US-India relationship and America's shared commitment to a secure and prosperous Indo-Pacific, including by underscoring the two countries' deep economic, security, and cultural ties, the statement said.

 

In India, Adeyemo will focus on the strong US-India bilateral economic relationship, highlight the extensive investment and trade flows between the two countries, and discuss ways to deepen them, including through building more resilient supply chains with trusted partners like India, as well as through initiatives like the Indo-Pacific Economic Framework that India joined as a founding member in May, it said.

 

In meetings with counterparts, Adeyemo will also discuss key shared priorities such as bolstering energy security, addressing food insecurity globally, and combating illicit financial flows, said the treasury as India is set to lead the G20 grouping in 2023.

 

The US and European nations have imposed heavy sanctions on Russia since Moscow sent troops into Ukraine on February 24.

 

India has raised oil imports from Russia after the Ukraine war despite criticism from the West and continues to engage with Moscow for business.

 

In May, Russia overtook Saudi Arabia to become India's second-biggest supplier of oil behind Iraq as refiners snapped up Russian crude available at a deep discount following the war in Ukraine.

 

Indian refiners bought about 25 million barrels of Russian oil in May.

 

External Affairs Minister S Jaishankar this week defended India's import of discounted Russian oil, saying the government had the moral duty to ensure that the people of India got the best deal amidst unreasonably high oil prices.

 

In Mumbai on August 24 and 25, Deputy Secretary Adeyemo will meet with senior government counterparts as well as executives from leading Indian businesses - including from the financial services and energy sectors.

 

Adeyemo will also tour IIT Mumbai's Society for Innovation and Entrepreneurship start-up incubator, where he will meet with students and entrepreneurs and deliver brief remarks on strengthening economic ties between the US and India, said the department of treasury.

 

In New Delhi on August 26, Deputy Secretary Adeyemo will meet senior government counterparts, the statement said.

 

Following meetings in New Delhi, Adeyemo will return to the United States.

total agri-food trade between Mexico You State got included in There was an increase of 16 per cent from January to June 2022 as compared to the same period last year, the Ministry of Agriculture and Rural Development reported (Sadar) the exchange added 37 thousand 639 million dollars.

 

dependency federal They highlighted that the value of exports of Mexican agri-food products increased by 18 percent and imports increased by 13 percent over the reference period.

 

Thus, a surplus balance was presented for Mexico 10 thousand 100 million dollars. This means an increase of 24 per cent over the registered surplus during the same period of 2021.

 

Sadar stated that the main product agricultural food exports were fruit, alcoholic beverages such as beerYou shakeras well as vegetables, which represent 27, 24 and 20 percent respectively sales agricultural food From Mexico to neighboring countries to the north.

 

Meanwhile, during that period, the main import products were cereals, Seed You oilseeds You meat and food offal, which represent 27, 14 and 13 percent, respectively, of Mexican agri-food purchases. State got included in,

 

The total value of the main import products from State got included in 13 thousand 769 million dollars, noted Sadar, The main export products were led beer,

 

Tomato sales were also special Jamun (Raspberry and Blackberry), specifies a dependency. finally Sadar He said that over the said period, tequila exports grew by 55 percent annually; boneless beef28 percent; avocado27 percent more bread sweetwith the same percentage.

Mizoram has for the first time exported pineapples grown in the state to Dubai, an official said.

 

Deputy Chief Minister Tawnluia on Friday flagged off the consignment of 230 kg of pineapples grown by farmers at Sialhawk village in Khawzawl district to Dubai.

 

Speaking on the occasion, Tawnluia, who is also the local MLA, said that preparation is going on to export Sialhawk pineapples to Qatar's capital Doha and Bahrain.

 

He said that the state government would take steps to construct link roads to all pineapple farms within his constituency and also efforts would be made to find market for the farmers if they harvest more.

 

State Horticulture development board vice chairman and ruling Mizo National Front legislator F Lalnunmawia hailed the development as a milestone in the history of Mizoram.

 

According to Horticulture department secretary K Lalthawmmawia, the pineapples were bought by Fair Exports (I) Private Limited, a division of Lulu Group International, in Mumbai and they will be shipped to Dubai, he said.

 

He said that another 900 kg of pineapples from Sialhawk would also be shipped to Dubai, and 740 kg each to Qatar and Bahrain within a short time from now.

 

He added that the farmers have to make constant efforts and maintain quality and value-added pineapples to sustain in the global market.

 

Villagers of Sialhawk began pineapple cultivation in 2002 and around 320 families have harvested 6,400 quintals of pineapples worth Rs.95 lakh last year.

In a significant development which would revolutionise agriculture in the country, Directorate of Agriculture, Jharkhand and global blockchain technology company, SettleMint, jointly introduced blockchain technology in seed distribution to farmers. In the two years of operations in India, SettleMint has made significant progress and taken rapid strides towards the enablement of blockchain adaptation in India.

 

Underlining the intervention, Nesha Oraon, Director – Agriculture, Government of Jharkhand said, 'Jharkhand is first the state to implement blockchain in the country which is being used to track seed distribution. The blockchain platform tracks seed supply distribution from issuing of supply orders from the Directorate of Agriculture, placing of seed demand by district agriculture officer, tracking seed distribution from empanelled government seed producing agency to distributors, retailers, LAMPS/PACS, FPOs and finally to the farmers. The move to implement blockchain is aimed at bringing transparency and authenticity of seeds which the farmers receive under the seed exchange scheme and other schemes.'

 

It is envisioned to implement blockchain technology for tracking the distribution of seeds, inputs and implements under all government schemes. This will play a crucial role in the transparent execution of schemes while doing away with middlemen as it enables traceability, real-time monitoring and efficient management of the schemes. 'It is the utmost priority of this government to make quality seeds available to the farmers at the right time, along with filtering of middlemen, identification of the beneficiaries and creation of farmers’ database,' Oraon added.

 

Speaking on the introduction of blockchain technology in agri input distribution, Shahzad Fatmi, CEO, SettleMint India said, 'We are delighted to partner with Jharkhand as it becomes the first state in the country to distribute seeds through blockchain technology. Blockchain is proving to be a game-changer in the agricultural sector. It is revolutionising agrarian supply chains by making them more transparent and traceable.'

 

Elaborating on the benefits of using blockchain for seed distribution, Oraon added, 'This will enable timely availability of seeds to distributors, retailers and most importantly, the farmers. Each farmer is first registered in the blockchain system along with their Aadhaar card number and mobile number. Seed distribution is logged into the system after entry of OTP in the registered mobile number of the concerned farmer. The objective of implementing blockchain is to enable distribution of seed and other schemes in a transparent manner.'

 

'The platform provides information on a real-time basis to monitor activities like LAMPS/PACS/FPO-wise seed distribution to farmers in different districts, quantity/variety of seed being purchased by farmers and number of times seed is being purchased by the farmers. Through the use of blockchain, the state envisions to create a robust farmers’ database which can be used to enhance the delivery of various agriculture and horticulture schemes and enable micro monitoring of every district in the state. Along with this, it is planned to enable e-KYC for authentication of Aadhaar number of farmers,' she further added.

 

'By implementing the blockchain solution, the state of Jharkhand has become the first state in the country to deploy a production grade blockchain-based seed distribution programme. The state will onboard all stakeholders such as supplies, distributors and farmers, invest in their training and adoption of technology,' the official said.

 

Every year, the Department of Agriculture, Animal Husbandry & Cooperative distributes over 300 seed varieties of over 30 crops during both Kharif and Rabi seasons to the farmers at subsidised rates.

 

During the current Kharif season, the department has covered seed distribution of cereals, pulses, oilseeds and coarse cereals completely via blockchain technology. To date, more than 3 lakh farmers, 600 LAMPS/PACS and private distributors and 160 FPOs have been registered on the platform. Around 30,000 quintals of seeds have been distributed. Owing to the current drought-like situation, the total seed distribution is estimated to be around 35,000 to 40,000 quintals for this Kharif season. As the adoption of blockchain increases manifold, the whole seed distribution process will be pilferage free allowing the farmers to confirm via their app the variety and quantity received.