Mayank's Feed
Jul 29, 2014

Rural votes, old traumas drive India’s WTO brinkmanship

NEW DELHI (Reuters) – With grain silos spilling over, exports on the rise and an avowed market champion for prime minister, India’s threat to trash a global trade deal in the name of food security appears puzzling.

But government officials say Prime Minister Narendra Modi is prepared to brazen out global outrage to seize a historic opportunity to build a rural power base with his defense of farm subsidies and to banish memories of humiliating national food shortages.

Jul 22, 2014

Depleting water reservoirs need rains to prevent crop loss

NEW DELHI (Reuters) – India’s reservoirs are depleting fast and monsoon rains need to pick up now if they are to have enough water to prevent a drop in output of major winter crops such as wheat and rapeseed that are sown from October, a senior government official said.

Rains in India, the world’s second-biggest rice, wheat and sugar producer, were 15 percent below average in the week to July 16, an improvement from the previous week’s shortfall of 41 percent but still 29 percent deficient since the start of the season in June.

Jul 22, 2014

Depleting Indian water reservoirs need rains to prevent crop loss -govt

NEW DELHI, July 22 (Reuters) – India’s reservoirs are
depleting fast and monsoon rains need to pick up now if they are
to have enough water to prevent a drop in output of major winter
crops such as wheat and rapeseed that are sown from October, a
senior government official said.

Rains in India, the world’s second-biggest rice, wheat and
sugar producer, were 15 percent below average in the week to
July 16, an improvement from the previous week’s shortfall of 41
percent but still 29 percent deficient since the start of the
season in June.

Jun 23, 2014

India to raise import duty on sugar, promote exports

NEW DELHI, June 23 (Reuters) – India will raise its import
duty on sugar to 40 percent from 15 percent, as the government
tries to revive business at mills that owe farmers around $1.84
billion, the food minister said on Monday.

The climb in import duty will make overseas purchases nearly
unviable for refiners in the world’s biggest consumer of the
sweetener, hitting shipments from suppliers such as Brazil,
Thailand and Pakistan.

Jun 13, 2014

India corn exports pick up, but still set for annual drop

NEW DELHI, June 13 (Reuters) – Indian corn exports have
picked up in the last few months as swelling supply crimps
prices, but the rise will not be enough to stop overall
shipments for 2013/14 dropping nearly a quarter after a poor
start to the year, traders said.

The annual decline is good news for rival exporters such as
Brazil and the United States, which are hoping to expand sales
to India’s traditional customers in Southeast Asia including
Malaysia, Indonesia and Vietnam.

Jun 5, 2014

India boosts local wheat purchases, gives buffer against El Nino

NEW DELHI (Reuters) – Indian purchases of wheat from local farmers are set to climb at least 8 percent this year, bolstering government stocks against forecasts of below-average monsoon rains and the specter of a possible El Nino weather pattern.

Poor rains in India, where farmers depend on the annual June-September monsoon to irrigate nearly half their land, typically stoke inflation – a key worry for Prime Minister Narendra Modi’s newly formed government.

May 16, 2014

Record grain output will help new government

NEW DELHI (Reuters) – India is set to harvest a record 264.4 million tonnes of grains in the crop year that ends in June, the farm ministry said on Friday, easing pressure on a new government that may have to deal with poor monsoon rains later in 2014 due to the El Nino weather pattern.

“Record output in wheat and rice provides a breather against the El Nino threat,” said Tajinder Narang, a trade analyst.

May 16, 2014

Record Indian grain output will help new govt

NEW DELHI, May 16 (Reuters) – India is set to harvest a
record 264.4 million tonnes of grains in the crop year that ends
in June, the farm ministry said on Friday, easing pressure on a
new government that may have to deal with poor monsoon rains
later in 2014 due to the El Nino weather pattern.

“Record output in wheat and rice provides a breather against
the El Nino threat,” said Tajinder Narang, a trade analyst.

May 11, 2014

Election front-runner BJP could curb beef exports

NEW DELHI/MUMBAI (Reuters) – The Bharatiya Janata Party (BJP) says it plans to clamp down on beef exports if it takes power after general elections that end on Monday, threatening supplies from one of the world’s biggest shippers of the meat.

Surprisingly in a country where so many view cows as sacred, India has been poised to become the No.1 beef exporting nation, supplying markets such as Malaysia, Thailand, Vietnam and Egypt.

May 11, 2014

Indian election front-runner could curb beef exports

NEW DELHI/MUMBAI (Reuters) – India’s main Hindu nationalist party says it plans to clamp down on beef exports if it takes power after general elections that end on Monday, threatening supplies from one of the world’s biggest shippers of the meat.

Surprisingly in a country where so many view cows as sacred, India has been poised to become the No.1 beef exporting nation, supplying markets such as Malaysia, Thailand, Vietnam and Egypt.

    • About Mayank

      "At Reuters, I have been covering India's vibrant and burgeoning commodities market since September 2006. Before joining Reuters, I helped NEWSWIRE18 (formerly CRISIL MarketWire), India's first and only real-time news agency, launch its commodity wire. NW18 is part of India's Network18 group which runs CNBC news channel. Between 2000 and 2005, I covered leading car and consumer durable companies for the Press Trust of India, the country's premier news agency."
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