Rajendra's Feed
Jun 22, 2015

Sowing gathers pace as monsoon delivers ample rainfall

HIVRA, India (Reuters) – Better-than-expected monsoon rains in the past two weeks have helped farmers in several parts of India sow cotton, pulses and oilseeds on time, but the country’s weather office is still sticking to its forecast of a likely drought.

Although a delayed arrival of the monsoon had worried farmers, more than two-thirds of the country has now received normal or above-normal levels of rainfall so far this monsoon season, which starts on June 1.

Jun 22, 2015

Indian sowing gathers pace as monsoon delivers ample rainfall

HIVRA, India, June 22 (Reuters) – Better-than-expected
monsoon rains in the past two weeks have helped farmers in
several parts of India sow cotton, pulses and oilseeds on time,
but the country’s weather office is still sticking to its
forecast of a likely drought.

Although a delayed arrival of the monsoon had worried
farmers, more than two-thirds of the country has now received
normal or above-normal levels of rainfall so far this monsoon
season, which starts on June 1.

Jun 22, 2015

India 2015 soybean output to jump over 10 pct on timely rain -industry

PUNE, India, June 22 (Reuters) – Indian soybean production
is likely to jump just over 10 percent in 2015 from a year ago
to more than 10 million tonnes, boosted by ample monsoon rains,
said an industry body.

That should help the world’s top importer of edible oils
curb overseas purchases in the marketing year that starts in
November, dragging on international prices.

Jun 21, 2015

Food price surge puts Rajan on the back foot

AURANGABAD, India (Reuters) – Prices of many foodstuffs are surging in India, despite a good start to monsoon rains – an unexpected boon for wholesalers, but a major headache for the central bank and a government hoping for its help to reboot the economy.

Reserve Bank of India (RBI) Governor Raghuram Rajan has cut interest rates three times this year to boost growth, but he has since warned he will not cut again if poor rains drive up prices and threaten his inflation target.

Jun 21, 2015

Food price surge puts India’s Rajan on the back foot

AURANGABAD, India (Reuters) – Prices of many foodstuffs are surging in India, despite a good start to monsoon rains – an unexpected boon for wholesalers, but a major headache for the central bank and a government hoping for its help to reboot the economy.

Reserve Bank of India Governor Raghuram Rajan has cut interest rates three times this year to boost growth, but he has since warned he will not cut again if poor rains drive up prices and threaten his inflation target.

Jun 19, 2015

India proposes gold-linked bonds to lower bullion imports

MUMBAI, June 19 (Reuters) – India is planning to issue
sovereign bonds linked to the bullion price in an effort to
divert some of the estimated 300 tonnes of annual demand for
gold bars and coins and curb bullion imports, which can push up
the trade deficit.

The Reserve Bank of India, the central bank, will issue the
bonds on behalf of the government, with a minimum interest rate
of 2 percent, according to a draft outline issued by the
government late on Thursday.

Jun 17, 2015

Monsoon concerns weigh on Indian gold demand, prices at discount

MUMBAI/SINGAPORE (Reuters) – Indian gold demand remained sluggish this week as concerns over a weak monsoon forced farmers, key to the country’s bullion demand, to cut back spending.

Indian prices are at a discount of around $1 an ounce to the global benchmark, said traders.

Jun 17, 2015

Asia Gold-Monsoon concerns weigh on Indian demand, prices at discount

MUMBAI/SINGAPORE, June 17 (Reuters) – Indian gold demand
remained sluggish this week as concerns over a weak monsoon
forced farmers, key to the country’s bullion demand, to cut back
spending.

Indian prices are at a discount of around $1 an ounce to the
global benchmark, said traders.

Jun 10, 2015

India gives loans to sugar mills to help clear $3.3 billion owed to farmers

MUMBAI/NEW DELHI (Reuters) – India has approved interest-free loans for cash-strapped sugar mills to help them pay nearly 30 percent of the record $3.3 billion they owe cane farmers, many of whom are struggling with huge debts as the first country-wide drought in six years looms.

Mills in India, the world’s biggest sugar producer after Brazil, have been lobbying the government for months seeking relief as prices of the sweetener have fallen below the cost of production due to ample supplies.

Jun 10, 2015

India’s 2015/16 cotton acreage seen down by the most in 13 years -trade body

MUMBAI, June 10 (Reuters) – Cotton acreage in top grower
India is likely to drop by the most in over a decade this year,
as plunging prices and fears of a drought prompt farmers to
switch to cultivating pulses in the hope for better returns, a
top trade body official said.

Lower output at the world’s No.2 cotton exporter after the
United States should help give legs to a recovery in global
benchmark prices that have risen 13 percent from a
five-year low of 57.05 cents per pound plumbed in January.

    • About Rajendra

      "Rajendra is a commodities correspondent based in Mumbai. He has been tracking agriculture commodities along with agrochemicals and fertilisers for Reuters since 2006. He loves to report on what's changing in the city's hinterland as urbanisation gains pace in India's predominantly agrarian economy."
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