IMD will announce the withdrawal date by September 1 after considering dry weather conditions and reduction in moisture levels.
Despite floods hurting central and eastern India, farmers, traders and agriculture companies are hopeful about crop prospects this season, especially rice & pulses.
The higher sugar price is spilling over into candies, sauce, jam, jelly and ice cream, making them costlier as well.
“Indian Oil Corporation will be buying treated water from Mathura’s sewage treatment plant,” said Uma Bharti, minister of water resources.
Wholesale price of pulses has eased 30% while vegetables have dropped as much as 50% in some markets in the past four weeks because of normal monsoon.
The situation in Karnataka is not that worse and could be made up if it rains in the next few weeks. “Rains are just 9% deficient at 516 mm.
Protests in Kashmir Valley and more than a month of curfew may impact the Rs 7,000-crore industry as growers are unsure of how to go ahead with the harvest.
The All India Rice Exporters’ Association said it is grateful to the commerce ministry and Apeda for spearheading and pursuing the GI for basmati.
India’s import of fertilisers other than urea dropped more than 41 per cent from a year earlier in the first quarter of fiscal 2017.
The primary concern is that the price movements on the futures market are impacting the spot prices significantly,” the official said.
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