India : Agriculture Market Update information by indiaagronet

Tea sector hit by poor regulations

Inherent imperfections and poor regulations in the Indian tea primary market are cited as the real reasons for the plight of the plantation industry which is reeling under lower price realizations. Industry circles point out that while the prices of tea at the retail level has been consistently growing, reflecting an increase in demand, prices at tea auctions (the primary market), has been falling for the last five years.

Courtesy- The Economic Times, 13^th November 2002
( Website : www.economictimes.com )

Rubber prices fall

After a rally that lasted for several weeks, rubber prices to be on a downward slide. In the last one-week the prices have registered a fall of almost Rs 4 per kg. The expectations that the prices will remain above the Rs 40 mark have been belied. Despite this, however, the present prices may last in the medium term if the demand picks up, say experts. The increase in production of natural rubber is said to be one reason for the decline in prices.

(Courtesy- The Economic Times, July, 15)

Spices steady

A steady trend was observed on the spices market in the absence of market-moving factors. All spices were settled at their overnight closing levels. Meanwhile, the oil and oilseeds market remained closed today due to death of a member. However, business was normal in the futures section. September delivery contract opened higher at Rs 1,360, after moving in a narrow range, after moving in a narrow range, it closed at the same level, showing a gain of Rs 15 against the last close of Rs 1,345.

(Courtesy- The Economic Times, July, 5)

Support price for tobacco ruled out

The Indian Tobacco Association, a body of tobacco traders , has completely ruled out accepting tobacco growers' demand for fixing minimum guaranteed price (MGO) for the ensuing '02-03 season as per the formula decided in '98.

(Courtesy- The Economic Times, July, 2)

Tea volumes may dip 8% in South

The United Planters’ Association of Southern India (Upasi) has projected an 8% drop in the output of South Indian tea for the current calendar year. Upasi tea committee chairman said the crop would drop to 1,830 lakh kg from 2,030 lakh kg in the previous calendar. He attributed the decline to the reduction in inputs in the wake of a drop in price realizations. Adverse weather was the other key factor that is likely to drag output, he said.

(Courtesy-The Economic Times, 28th June)

Pepper price rise triggers imports

India, the largest producer of black pepper in the world, has become a net importer of pepper last month. As per the trade estimates, the country exported 1,962 tonne of black pepper in May. On the other hand, the imports stood at 2,554 tonne for the same month. Chairman, Spices Board said that the higher import of pepper in May is just a “temporary phenomenon”. He said that when the prices of blackpepper increased in the domestic market some of the exporters who had commitments have to rely on imports.

(Courtesy-The Economic Times, 27th June)

Small coffee growers seek exclusion from central IT

Small coffee growers, constituting 98% of the cultivators of this commodity are agitated over a recent clarification issued by the Central Board of Direct Taxes (CBDT) which subjects 25% of their realizations derived from the sale of coffee grown and cured in India to central income tax (CIT).

(Courtesy-The Economic Times, 27th June)

ICTA coffee auction hit as summer arrives in West

The ICTA auction response was once again affected by the off-season factor following the onset of summer in the West and the consequent impact on consumption in the export markets.