• India will receive 93% of the normal rainfall this year. This is lower than the previous forecast of 96% by the India Meteorological Department.
• The Central Government has increased the minimum support price of sugarcane by Rs26 per quintal to Rs107.76 per quintal for the current season from Rs81.18 per quintal last year. India’s sugar output is estimated to fall to 14.8 million tonnes in 2008-09 lower than the 26.5 million tonnes a year ago.
• US Department of Agriculture (USDA) has said that the availability of wheat in the global market will be limited in 2009-10, although the global wheat stock is projected to be higher. Worldwide, 182 million tonnes of wheat are held in stock – 8.3% higher than the previous year’s stock. But non-availability of this stock in the world market will create a shortage of wheat.
• India’s basmati rice export is expected to cross two million metric tonnes in the current marketing year, ending September 30. Riding on the huge demand from Iran and the inclusion of PUSA-1121 in the premium basmati rice category, exports have surged.
Inside story of the National Stock Exchange’s amazing success, leading to hubris, regulatory capture and algo scam