Mayank's Feed
May 26, 2015

Modi urges farmers to boost output, skirts issue of rural distress

NEW DELHI (Reuters) – Prime Minister Narendra Modi on Tuesday urged farmers to boost lentils and oilseeds output to cut expensive imports but skirted the issue of rural distress that has turned peasants against his one-year-old government.

There has been an increase in suicides by farmers after untimely rains and hailstorms damaged crops and weak prices hit farm income in the countryside, home to 70 percent of Indians.

May 26, 2015

India’s Modi urges farmers to boost output, skirts issue of rural distress

NEW DELHI (Reuters) – Indian Prime Minister Narendra Modi on Tuesday urged farmers to boost lentils and oilseeds output to cut expensive imports but skirted the issue of rural distress that has turned peasants against his one-year-old government.

There has been an increase in suicides by farmers after untimely rains and hailstorms damaged crops and weak prices hit farm income in the countryside, home to 70 percent of Indians.

May 14, 2015

For Modi’s year-old government, storm brewing in rural India

KHANNA/KAMARGAON, India (Reuters) – Just one year after taking office, Prime Minister Narendra Modi is facing a challenge that could come to haunt him – the farm sector that sustains three-fifths of the population is in deep trouble, and he is being blamed for not doing enough.

Promising good governance and a stronger economy, Modi romped to power in elections last May by the biggest margin any prime minister has got in three decades. But the rural crisis has dented his popularity and the vanquished opposition is finding new vigour in his discomfort.

Apr 16, 2015

India to consider building sugar stockpile to cut market surplus

NEW DELHI (Reuters) – India will examine the feasibility of building government stocks of sugar to cut a surplus of sweetener in the market, the food minister said on Monday, a move that would prop up local prices and help money-losing mills pay dues to cane growers.

“Mills, farmers and sugar producing states have suggested to create buffer stocks of 3 million tonnes, or 10 percent of output, which we will consider after consulting the prime minister,” Ram Vilas Paswan told a news conference.

Mar 31, 2015

India in biggest wheat import deals since 2010 as rains damage crop

SINGAPORE/NEW DELHI (Reuters) – India has bought up to 80,000 tonnes of Australian wheat in recent deals, three trade sources said on Tuesday, the biggest such imports by the country in five years as unseasonal rains damage the crop at home.

Purchases by the world’s No.2 wheat consumer and producer could buoy benchmark Chicago prices Wc1, which rallied more than 6 percent in the past two sessions and are currently near a one-week top amid concerns over dry weather and rising temperatures hurting the U.S. winter crop.

Mar 29, 2015

Insight – Modi’s popularity in rural India punctured by discontent, suicides

VAIDI, India (Reuters) – Over a dozen debt-laden farmers have committed suicide in recent weeks in India, and discontent in many rural areas against government policies is turning into anger against Prime Minister Narendra Modi less than a year after he swept into office.

Unseasonal storms have badly damaged the winter crop in large parts of the fertile northern plains, most likely contributing to the suicides, and villagers have blamed Modi for not stepping in to help the distressed farmers or ensuring that crop prices remained stable.

Mar 29, 2015

Modi’s popularity in rural India punctured by discontent, suicides

VAIDI, India, March 29 (Reuters) – Over a dozen debt-laden
farmers have committed suicide in recent weeks in India, and
discontent in many rural areas against government policies is
turning into anger against Prime Minister Narendra Modi less
than a year after he swept into office.

Unseasonal storms have badly damaged the winter crop in
large parts of the fertile northern plains, most likely
contributing to the suicides, and villagers have blamed Modi for
not stepping in to help the distressed farmers or ensuring that
crop prices remained stable.

Mar 13, 2015

Mills seek government incentives to export white sugar

NEW DELHI (Reuters) – India’s money-losing sugar mills are looking for another round of government incentives to export refined products as a supply glut hammers global and local prices, with no end in sight.

Trade minister Nirmala Sitharaman on Friday agreed with the producers body, the Indian Sugar Mills Association (ISMA) that exports had become uneconomical due to record output in top producers Brazil, India and Thailand.

Mar 13, 2015

Indian mills seek government incentives to export white sugar

NEW DELHI, March 13 (Reuters) – India’s money-losing sugar
mills are looking for another round of government incentives to
export refined products as a supply glut hammers global and
local prices, with no end in sight.

Trade minister Nirmala Sitharaman on Friday agreed with the
producers body, the Indian Sugar Mills Association (ISMA) that
exports had become uneconomical due to record output in top
producers Brazil, India and Thailand.

Mar 4, 2015

India signs first deals to export 50,000 T new-season sugar

NEW DELHI, March 4 (Reuters) – Indian mills have been
contracted to export 50,000 tonnes of raw sugar in the first
overseas sale in the season that began in October, two trade
sources said, after the government last month approved
incentives to boost the trade amid a global glut.

Deals have been signed for prices of $340-$365 a tonne free
on board and up to 20,000 tonnes have already been shipped, said
the sources, who were directly involved in the contracts. The
entire quantity is headed to Africa, one of the sources said.

    • 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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