According to the proposal, banks will be asked to lend to fertiliser firms against the subsidy receivables guaranteed by the fertiliser ministry.
Not impressed, millers say lower prices will not lure buyers as there is no demand right now.
Despite a significant increase in support prices and bumper production of rice, farmers in eastern states are forced to sell the grain at much lower prices due to the absence of suitable state intervention mechanism.
Teeth-chattering cold winds from Siberia to intensify, making winter even more severe, & highlighting uncanny rise in extreme weather patterns.
Sugar prices are likely to remain subdued for the next few months as cheap imports of processed and raw sugar continue with the government not in favour of raising the import duty from 10%.
The icy winter in north India, along with morning dew and sunny conditions in rural areas, have sown the seeds for bumper harvests.
FMC is scheduled to review the ban with the Director General of Foreign Trade and the stakeholders in Rajasthan before taking a decision.
The country is also getting processed sugar from Pakistan on a large-scale, which is at least Rs 5 a kg cheaper than Indian variety.
FMC, the commodity market regulator, is planning to increase the participation of market makers and aggregators in the futures market to boost liquidity.
Govt approved exports of additional 2.5 million tonne of wheat from stocks to ease the storage problem after a record harvest this year.
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