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India plans to reduce its fertilizer subsidy bill in the upcoming fiscal year, aiming to cut spending to 1.68 trillion rupees. This move, announced by Finance Minister Nirmala Sitharaman, is expected to help the government manage its budget deficit. While the reduction in subsidy may impact farmers' access to affordable fertilizers, it could aid Prime Minister Narendra Modi's administration in controlling the country's fiscal gap. [Extracted from the article]

India has decided to allow sugar mills to export up to 1 million tons of sugar this season, a move aimed at supporting farmers and strengthening the sugar sector. The decision comes after restrictions on sugar exports had been in place for over a year. The industry welcomed the government's decision, which is expected to provide relief to sugar mills and help generate crucial revenue for timely payments to farmers. However, tight supplies may limit India's ability to exceed the approved export limit due to a drop in production caused by disease and dry weather in key growing areas. [Extracted from the article]

The sugar production in India is lower than expected due to disease and dry weather, with estimates suggesting a total of about 27.6 million tons for the 2024-25 year. Red rot disease in Uttar Pradesh and dry weather in Maharashtra have impacted sugar cane yields, leading to concerns for mills. The drop in output may result in India extending export restrictions, affecting global supplies and potentially impacting New York futures. Farmers like Ayaz Akhtar are reducing sugar cane acreage due to the disease, with Prime Minister Narendra Modi's plan to increase ethanol blending potentially influencing export restrictions. [Extracted from the article]

India has removed the $490 per ton minimum export price for non-basmati white rice and scrapped a 10% duty on outbound sales of parboiled grade. This move is expected to help Indian traders compete with rivals from Thailand and Vietnam in the global market. While global prices may soften, domestic farmers could benefit from increased demand for their crops during the current harvesting season. India had previously imposed export restrictions to ensure food security and control inflation, but has now eased some of these measures to boost its rice exports. [Extracted from the article]

India has removed restrictions on the export of non-basmati parboiled rice, aiming to enhance its competitiveness in the global market and increase local farmers' earnings. The government eliminated the 10% export duty on this type of rice and also abolished the tax on the unprocessed variety. These measures are expected to help Indian traders compete with other major rice exporters like Thailand, potentially leading to increased demand for the crop and better prices for domestic farmers. India had previously imposed export limitations in 2022 to ensure food security and control inflation, impacting global rice prices and prompting consumers to seek alternative sources. [Extracted from the article]

India experienced its best monsoon season since 2020, leading to expectations of a bumper harvest of crops such as rice, soybeans, and pulses. The monsoon season, which lasts from June to September, is crucial for agriculture as it provides water to about half of the country's farmland and influences winter plantings. Last year's below-average rainfall prompted the government to impose restrictions on rice, wheat, and sugar exports. The increase in farm output may lead to the relaxation of these restrictions. [Extracted from the article]

India has lifted restrictions on the export of non-basmati white rice and reduced the tax on parboiled rice exports. These measures are aimed at easing global rice prices and reducing India's record stockpiles. The restrictions were initially put in place to ensure domestic food security and control inflation, but they led to a decrease in rice exports. The new policies are expected to benefit countries like Indonesia and Senegal by reducing import costs. [Extracted from the article]

(Bloomberg) -- India loosened restrictions on some rice exports, a move that may ease global prices and signal a shift in domestic agricultural policies following recent national elections.The government lifted a ban on non-basmati white rice shipments, and set a minimum export price of $490 per ton, according to a notification from the Directorate General of Foreign Trade. On Friday, authorities cut a tax on overseas sales of parboiled rice to 10% from 20%.--With assistance from Abhishek Shanker, Shwetha Sunil, Siddhartha Singh and Atul Prakash.©2024 Bloomberg L.P.By Pratik ParijaReported by Author [Extracted from the article]

India has eased restrictions on rice exports by reducing the tax on parboiled rice shipments from 20% to 10%. This move is expected to lower global prices and reflects a shift in domestic agricultural policies following recent national elections. The restrictions were initially implemented in 2022 to ensure food security and control inflation, but they led to a surge in prices and forced major consumers to seek rice supplies from other countries. The new policy could help reduce India's record stockpiles and lower import costs for countries like Indonesia and Senegal. [Extracted from the article]

Palm oil, which has historically been the cheapest edible oil, is no longer the most affordable option due to decreased output in major producers and an abundance of alternative oils. Indonesian and Malaysian palm plantations, which supply 85% of the global market, are facing challenges as smallholders are hesitant to replant aging trees. Despite the recent increase in palm oil prices, it is unlikely that there will be a significant shift away from palm oil in the near future due to its unique qualities and its importance in various industries. However, seasonal factors and consumer preferences may lead to adjustments in the market. [Extracted from the article]

Brazil's wildfires and drought have disrupted the global sugar market, leading to increased reliance on Thailand and India for supplies. However, both countries also face their own risks. Thailand's sugar crop is expected to rebound in the upcoming season, but recent floods have raised concerns about potential delays in harvesting. In India, support for ethanol production is likely to result in prolonged sugar-export restrictions. The tight supplies and potential harvest setbacks could further drive up sugar prices. [Extracted from the article]

According to veteran trader Dorab Mistry, palm oil is expected to enter a new bull phase in early 2025 due to strong demand from biofuel makers and increased purchases by India and China. Crop-based fuels are the fastest growing segment of global vegetable oil demand, and subsidies for the sector have also increased. Mistry predicts that palm oil will trade between $3,700 and $4,500 ringgit per ton until June 2025, with purchases for the Chinese New Year and Ramadan in the first quarter of the year expected to further boost the market. Mistry also highlights rising rapeseed oil prices, declining palm oil production due to aging trees and limited plantation expansion, and a projected increase in world food demand for vegetable oils. [Extracted from the article]

India, the world's largest exporter of rice, has eliminated the floor price for basmati rice exports in order to increase its competitiveness in the global market. The decision is expected to boost basmati rice exports and farmers' income, while also potentially lowering global prices for the premium variety. This move comes as India continues to restrict non-basmati rice exports to control local prices and address food inflation. Additionally, the government has removed the floor price for onion exports and reduced wheat stockpile limits to prevent hoarding and lower prices in the domestic market. [Extracted from the article]

India is expected to receive above-normal rainfall in September, which is the last month of the monsoon season. This is good news for farmers and the economy, as it will boost crop yields and potentially lower food inflation. However, there is also a risk of heavy rainfall and floods in some areas of the country. It is important to note that India is increasingly vulnerable to extreme weather events due to climate change. [Extracted from the article]

India has lifted restrictions on sugar mills and distilleries using cane juice to make ethanol, which is likely to tighten global supply and prolong export curbs. Ethanol producers will now be allowed to use sugarcane juice, B-heavy and C-heavy molasses during the 2024-25 year. This move will help Prime Minister Narendra Modi meet the government's target of increasing the proportion of ethanol in gasoline blends to 20% by November 2025. The government has also allowed grain-based ethanol makers to purchase rice from state reserves. [Extracted from the article]

Heavy rains and strong winds are expected to continue in India's top cotton and peanut growing regions, posing a risk of floods and potentially damaging crops that are close to harvest. The Saurashtra and Kachchh regions of Gujarat are forecasted to receive heavy precipitation for three days, with the possibility of a cyclone forming on Friday. Severe damage to cotton plants could lead to increased overseas purchases by India, potentially impacting global cotton prices. Additionally, a drop in peanut production could tighten supplies in the country, which imports 60% of its vegetable oil needs. The National Disaster Response Force has been deployed to assist in the affected region, and precautions are being taken by oil explorers, port operators, and fishermen. [Extracted from the article]

Gokaldas Exports Ltd., an Indian company that exports garments to over 50 countries, has decided to postpone its plan to build a factory in Bangladesh due to ongoing political unrest in the country. The company will instead focus on contract manufacturing in Bangladesh for now. Bangladesh's Prime Minister Sheikh Hasina recently stepped down and fled to India following violent clashes between students and pro-government supporters. Despite the turmoil, apparel manufacturing remains an important part of Bangladesh's economy, and some European companies have approached Gokaldas Exports for assistance in meeting their demand. [Extracted from the article]

India will continue to impose restrictions on sugar exports in order to ensure an adequate supply for domestic use and to support the country's ethanol production. The government's goal is to maintain reasonable prices in the local market and increase the use of cane for ethanol production. This decision will negatively impact local sugar mills, who have been requesting a relaxation of the restrictions. It is also expected to help stabilize global sugar prices, which have fallen by 12% this year. Prime Minister Narendra Modi's target of increasing ethanol in gasoline blends to 20% by 2026 is a key factor in maintaining these export curbs. [Extracted from the article]

Indian farmers have increased the planted areas for rice and pulses due to higher-than-average rains during the monsoon season. Rice has been planted on 27.7 million hectares, a 5.3% increase from the previous year, making India the world's largest exporter of rice. The area allocated to pulses has also increased by 11% to 11.1 million hectares. The monsoon season in India runs from June to September, and the rains are currently 6% above normal. [Extracted from the article]

India's farmers have increased the planting of oilseeds and pulses due to above-average monsoon rains. Oilseed crops have been planted on 17.17 million hectares, a 3.8% increase from the previous year. The area allocated to pulses has also risen by 14%. The monsoon season in India runs from June to September, and the rains are currently 3% above normal. India is the world's largest importer of edible oils. [Extracted from the article]

India has reduced its import tax on gold in order to support the country's jewelry manufacturing industry. The government has lowered the duty on gold from 15% to 6% in an effort to promote domestic value addition in gold and precious metal jewelry. This move is expected to provide relief to consumers following a rise in local gold prices. The reduction in customs duty may lead to a decline in domestic prices and an increase in demand. Additionally, the import levy on silver, platinum, and palladium has also been reduced. [Extracted from the article]

Cocoa futures have increased due to concerns about potential shortages caused by Ghana's plan to limit some supplies for the next season. Ghana, the world's second-largest cocoa grower, has informed buyers that it will determine the amount of specialty cocoa that can be sold based on total production, and will distribute beans fairly among buyers. Although cocoa prices have slightly decreased from a record high in April, they are still up approximately 90% this year due to poor harvests in West Africa. The decision to restrict purchases suggests that there are doubts about the extent of the country's crop recovery, despite favorable weather conditions and timely supplies of pesticide and fertilizer. [Extracted from the article]

Cocoa futures have fallen for a second day due to improved weather conditions in key growing areas of West Africa, which has raised expectations for crop prospects in the next season. Prices have risen by around 90% this year due to poor harvests in top producing nations, leading to a significant shortage. Despite the recent decline, futures are still holding an upward trend due to concerns about long-term supply issues and political uncertainty in Ivory Coast. Weather forecasts predict isolated to scattered showers in parts of Nigeria and Cameroon, which will benefit crop growth. [Extracted from the article]

India, the world's largest exporter of rice, is considering easing restrictions on rice exports to prevent a surplus before the new crop arrives in October. The government is contemplating allowing white rice shipments with a fixed duty and may eliminate a 20% tax on parboiled rice exports. This move could help lower Asian rice prices, benefiting countries in West Africa and the Middle East that rely on India for their rice needs. Indian rice millers' shares surged in response to this news. [Extracted from the article]

Heavy rains in Mumbai have caused flooding in the city, leading to the closure of schools and the cancellation of flights. The Santacruz weather station recorded 27 centimeters of rainfall in a 24-hour period, the heaviest for a single day in July since 2019. The India Meteorological Department has issued a red alert, predicting heavy rainfall for the next 24 hours. This event has brought back memories of the devastating floods in July 2005, which resulted in the deaths of over 1,000 people. The heavy rains have also caused disruptions in transportation, with trains being suspended and flights being canceled or delayed. [Extracted from the article]

Heavy rains have caused severe disruptions in Mumbai, India's financial hub. The city experienced heavy precipitation, with 27 centimeters of rainfall recorded in a 24-hour period. This has led to flooding in several areas and has paralyzed transportation, with trains and flights being canceled. The situation has brought back memories of the devastating floods in 2005, which claimed over 1,000 lives. Schools and colleges were closed, and the city's population of over 12 million has been affected by the heavy rains. [Extracted from the article]

India, the world's largest exporter of rice, is considering easing restrictions on rice exports to prevent a surplus in the country before the new crop arrives in October. The government is contemplating allowing white rice shipments with a fixed duty and may eliminate a 20% tax on parboiled rice exports. This potential move could help lower Asian rice prices, benefiting countries in West Africa and the Middle East that rely on India for their rice needs. India's total rice exports have decreased by 21% in the first two months of the fiscal year, and farmers are currently sowing their main rice crop for the next harvest. [Extracted from the article]

Agricultural markets are closely monitoring India's trade policies as a new government takes office, as this could have significant implications for global food prices. The current government has restricted the export of key crops such as sugar and certain rice varieties in order to ensure domestic supplies and control consumer costs. However, there is a possibility that these restrictions may be relaxed after the announcement of election results on June 4. This could potentially lead to a decrease in Asian rice prices and a downturn in the sugar market. Additionally, there is a push from the industry to reduce import levies on wheat in order to boost local supplies. The government's decision on these trade policies will have an impact on global agricultural markets. [Extracted from the article]

Tens of thousands of farmers in India are camping near the capital to demand guaranteed crop prices and debt relief. The farmers' protest has gained support from other farm groups and trade unions, who have joined in a one-day national strike. Talks between the farmers and the government have not yet resolved the dispute, but both sides have agreed to continue peaceful negotiations. The protest highlights the ongoing challenges faced by smallholder farmers in India, who lack access to basic equipment and financing. The government, however, is unlikely to meet all of the farmers' demands due to political considerations and concerns about the impact on consumers. [Extracted from the article]

The temperature in Delhi, India reached a record-breaking 52.9C (127F), with heat waves affecting various parts of the country and posing health risks. The extreme temperature was recorded at the Mungeshpur automatic weather station, although it is considered an outlier compared to other stations. Climate change is believed to be increasing the intensity and frequency of extreme weather events globally. The high temperatures have led to increased power consumption and outages, as well as negative impacts on health, agriculture, and productivity. Authorities have advised people to take precautions and have implemented measures to mitigate the effects of the heat. [Extracted from the article]

The temperature in Delhi, India reached a record high of 52.3C (126F), posing serious health risks and increasing electricity demand. The extreme level was recorded at a weather station that is not considered for official temperature records due to its lack of historical data and urban heat island effect. The highest-ever temperature for the country was 51C in 2016. The heatwave has led to power outages and concerns about climate change's impact on floods, droughts, and cyclones. High temperatures and humidity are dangerous for human lives and can negatively affect farming and productivity. The government has advised people to stay hydrated and take precautions, but has not confirmed reports of weather-related hospitalizations and deaths. [Extracted from the article]

India experienced a record-breaking heatwave as temperatures surpassed 50C (122F) for the first time this summer. The extreme weather events in India, including floods, droughts, and cyclones, have been exacerbated by climate change. The rising temperatures pose risks to lives, strain power grids, and damage crops. Authorities are advising people to take precautions such as avoiding exposure to the sun, staying hydrated, and wearing light-colored clothes. There have been reports of heat-related illnesses and deaths, although the government has not confirmed these reports. [Extracted from the article]

India is predicting an above-normal monsoon season, which is good news for crops like rice, soybeans, and cotton. Rain is a crucial source of irrigation for almost half of the country's farmland. The monsoon is important for India's economy, as nearly half of the population relies on agriculture for their livelihood. The forecast is especially significant after India experienced its weakest monsoon in five years in 2023. The India Meteorological Department also mentioned that the El Niño pattern may weaken, and there is a possibility of La Niña bringing more rain to parts of Asia. [Extracted from the article]

India is facing significant challenges in preserving its fruits and vegetables due to poor infrastructure and inadequate refrigeration along the supply chain. As a result, up to 15% of these perishable goods are lost after harvesting, contributing to food waste and higher consumer prices. Climate change is exacerbating the problem, with rising temperatures leading to increased spoilage. Small farmers, who make up the majority of producers in India, struggle to afford cold storage facilities and are forced to sell their crops at lower prices. The lack of investment in the food chain and informal sales practices further hinder infrastructure modernization efforts. [Extracted from the article]

Prime Minister Narendra Modi is targeting the eastern Indian state of Odisha in an effort to increase his party's parliamentary seats. The state is currently led by former ally Naveen Patnaik, whose party won 12 out of 21 seats in the last election. Odisha has experienced rapid industrialization, leading to job growth but also environmental concerns such as deforestation and pollution. Poverty among indigenous people and lack of affordable healthcare are also major issues. The upcoming election in Odisha will see key battles between candidates from Modi's Bharatiya Janata Party and regional parties. [Extracted from the article]

Cocoa futures in New York have increased due to concerns about the need for more rain in West Africa's main cocoa-growing areas. This comes as global shortages continue to affect the market. Cocoa prices have been volatile recently, reaching a record high in April due to poor harvests in the largest producing region. While there have been some isolated showers, more rain is needed to fully replenish soil moisture. Experts predict that cocoa production will fall short of demand in the coming seasons, leading to another deficit. [Extracted from the article]

Sugar prices have dropped to an 18-month low in New York due to a productive start to the season in Brazil, the world's top exporter. Brazil has reported strong sugar cane crushing in the early stages of its new season, leading to speculation of abundant supplies in the coming months. Favorable weather conditions in Brazil and the expectation of increased cane acreage are contributing to the large output. In India, another major producer, the monsoon is expected to start earlier this year, potentially leading to bigger harvests and the easing of export curbs. [Extracted from the article]

Sugar prices have reached an 18-month low in New York due to higher-than-expected sugar production in Brazil. Output in Brazil's Center-South region in April increased by over 80% compared to the previous year. This increase in production has been attributed to favorable weather conditions and a weakened Brazilian real, which encourages more exports. Additionally, India is expecting above-average rainfall, which could lead to larger harvests and the easing of export restrictions. The dry weather in Brazil is a concern for later harvested cane. [Extracted from the article]

India has removed import duties on certain varieties of pulses in an effort to control food inflation during the national elections. This move is expected to protect Indian consumers from rising prices but may discourage local farmers from increasing crop production. However, it could benefit drought-hit farmers in Australia, a leading exporter of pulses, as they may see an increase in demand from India. The decision has received mixed reactions, with some expressing concerns about the impact on domestic prices and others welcoming the relief for consumers. Additionally, the government has lifted a ban on onion exports but imposed a duty on overseas shipments of the commodity. [Extracted from the article]

India has removed import duties on certain varieties of pulses in an effort to control food inflation during the national elections. This move is expected to protect Indian consumers from rising prices but may discourage local farmers from increasing crop production. However, it could benefit drought-hit farmers in Australia, a leading exporter of pulses, as they may see an increase in demand from India. Pulses, such as chickpeas and lentils, are an important part of Indian cuisine and a major source of protein for many in the country. [Extracted from the article]

India is predicted to experience sweltering heat in May, which raises concerns about health risks for residents and potential power shortages. The number of heat wave days is expected to be higher than usual, and there is a risk of people suffering from heat-related illnesses or exacerbating existing medical conditions. Authorities have advised people to be vigilant about their health and avoid unnecessary heat exposure. The weather department has recommended setting up cooling centers and issuing regular heat advisories. Some areas of Rajasthan, Madhya Pradesh, Maharashtra, and Gujarat are expected to have eight to 11 heat wave days this month, compared to the usual three days. Efforts are being made to safeguard public health and minimize the adverse impacts of heat waves. [Extracted from the article]

India is expected to experience sweltering temperatures in May, which raises concerns about health risks for residents and potential power shortages. The number of heat wave days is also predicted to be higher during the month. Last year, many people in eastern India died due to heat waves or exacerbated medical conditions. Authorities are urging people to be vigilant about their health and avoid unnecessary heat exposure. Efforts are being made to safeguard public health, including setting up cooling centers and issuing regular heat advisories. [Extracted from the article]

Cocoa prices in New York have become extremely volatile, reaching levels not seen since the 1970s. This volatility is due to uncertainty surrounding a cocoa shortage and traders exiting the market. Poor harvests in West Africa have caused cocoa futures to rise by 160% this year, but the high prices have made it more expensive for investors to maintain their positions, leading them to close out trades. This has resulted in a decrease in open interest and increased price swings. While there is hope for improved global production next season, the market remains uncertain. [Extracted from the article]

India is predicting an above-normal monsoon this year, which is expected to boost crop output and economic growth. The India Meteorological Department forecasts that precipitation during the June-September rainy period will be 106% of the long-term average. This is significant for India as it irrigates about half of the country's farmland and will benefit farmers and help cool food inflation. [Extracted from the article]

India is forecasted to have an above-normal monsoon this year, which is expected to boost crop output and economic growth. The India Meteorological Department predicts that precipitation during the June-September period will be 106% of the long-term average. This is significant for India as the monsoon irrigates about half of the country's farmland and will benefit farmers, help cool food inflation, and potentially ease restrictions on exports. A good monsoon is also expected to boost rural demand and address concerns about tepid private consumption growth. Additionally, favorable weather conditions may lead to a decrease in electricity demand and an increase in hydropower output. [Extracted from the article]

India is preparing for a hotter-than-normal summer, with temperatures already exceeding 42C (108F) in some parts of the country. This poses a threat to life, especially as the country gears up for a six-week long election starting in mid-April. Heat waves are likely to occur during the April-June season, and the combination of heat and humidity can be dangerous, particularly for those who work outdoors. The government is taking measures to equip hospitals and control forest fires, and the power ministry is preparing for increased electricity demand for cooling appliances. [Extracted from the article]

India is considering allowing sugar mills to use more sugar to produce ethanol, which may reduce the likelihood of easing export restrictions. The government is contemplating permitting factories to use an additional 800,000 tons of sugar for biofuel this year, on top of the 1.7 million tons already allocated. This move is expected to support global sugar prices, which have fallen recently. India has extended its export restrictions to protect domestic supplies ahead of national elections, and this decision will benefit sugar mills, ethanol distilleries, and farmers. [Extracted from the article]