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HomePosts Tagged "stock"
AgroPolicy, Foodgrains, India, Supply Chain

The successful implementation of the OMSS(D) policy has ensured that the prices of wheat are kept under control in the open market

As a part of Govt of India’s initiative for market intervention to control the retail price of wheat and atta, the Food Corporation of India (FCI) is offering wheat under the Open Market Sale Scheme (Domestic) [OMSS(D)] through weekly e-auction at the reserve price of Rs. 2125/- per qtl which is at par with the current MSP of wheat.

A quantity of 2.00 LMT wheat is being offered in each weekly auction across the country from more than 480 depots and during the year 2023-24, till 21.09.2023 total of 13 e-auctions have been conducted wherein 18.09 LMT wheat has been sold under the scheme.

The weighted average selling price of wheat during August’23 was Rs. 2254.71/qtl which has come down to Rs. 2163.47/qtl in the e-auction dated 20.09.23. The downward trend in the weighted average selling price of wheat suggests that the market prices of wheat have cooled down in the open market. In each weekly e-auction conducted, the quantity sold has not crossed 90 per cent of the qty offered which shows that sufficient stocks of wheat are being offered across the country.

The successful implementation of the OMSS(D) policy has ensured that the prices of wheat are kept under control in the open market and sufficient stock of wheat is available in the central pool for the continuation of OMSS(D) policy for the remaining period of 2023-24.

The successful implementation of the OMSS(D) policy

AgroPolicy, Foodgrains, India, Pulses

Centre issues advisory for mandatory stock disclosure of Masur (lentil) with immediate effect

The Department of Consumer Affairs, Government of India has issued an advisory for mandatory stock disclosure of Masur (lentil) with immediate effect. All the stakeholders should mandatorily disclose their Masur stock on the stock disclosure portal (https://fcainfoweb.nic.in/psp) managed by the department every Friday. Any undisclosed stock if found, will be considered as hoarding and suitable action under the EC Act would be initiated.

Rohit Kumar Singh, Secretary of, the Department of Consumer Affairs, during the weekly price review meeting, instructed the department to broad-based the lentil buffer procurement. The objective is to procure available stocks at prices around the MSP. This came at a time when NAFED and NCCF had to suspend their tenders to purchase imported lentils due to exorbitantly high bids received from few suppliers amid hints of cartelisation.

Secretary, of Consumer Affairs, stated that at a time when lentil import flow increases from Canada and Tur imports from African countries, few players are trying to manipulate the market against the interest of the consumers and the Nation. The government is watching the developments very closely and will initiate stringent measures to get the stock released into the market so that the availability of all pulses at reasonable prices during the festival season is ensured.

He further added that judiciously balancing the interest of the farmers vis-à-vis the consumers is paramount and that the Department will not hesitate to initiate stern action against those trying to hurt the interest of Indian consumers and farmers in an unscrupulous manner.

Centre issues advisory for mandatory stock disclosure

AgroPolicy, Sugar industry, Supply Chain

At the end of July 2023, India has a sugar stock of about 108 LMT, which is sufficient to meet domestic demand for the remaining months of the current SS 2022-23.

The government of India has been successfully maintaining stable retail prices of sugar in the country. Though international sugar prices have touched the highest level in a decade in April-May 2023, domestic prices of sugar have nominal inflation of about 3 per cent, which is commensurate with the hike in Fair & Remunerative Price (FRP) of sugarcane.

At the end of July 2023, India has a sugar stock of about 108 LMT, which is sufficient to meet domestic demand for the remaining months of the current SS 2022-23 and also for optimum stock of about 62 LMT at the end of the season. Thus, enough sugar is available for domestic consumers at reasonable prices throughout the year.

In addition, the interests of sugarcane farmers are being addressed by ensuring Fair & Remunerative prices as well as their timely payments by sugar mills. 99.9 per cent of cane dues of sugarcane farmers for the sugar seasons up to 2021-22 have already been cleared by sugar mills. Even for the current sugar season 2022-23, with payments of more than ₹ 1.05 lakh crores, about 93 per cent of cane dues payments have already been cleared as of date.

International sugar prices are almost 50 per cent higher than those in India. The average retail price of sugar in the country is about ₹ 43 per kg and is likely to remain in range bound only. It can be seen from the chart below that there has been less than 2 per cent annual inflation in the country in sugar prices in the last 10 years. Domestic prices have been kept stable with little increase as a result of pragmatic government policy interventions.

Timely government interventions have brought the sugar sector out of the crisis. Strong fundamentals of the sugar sector and more than sufficient production of sugarcane and sugar in the country have ensured that sugar remains within easy access to each & every Indian consumer.

During the current Sugar Season (Oct-Sep) 2022-23, India is estimated to have produced of 330 LMT sugar after the diversion of about 43 LMT for ethanol production. Thus, total sucrose production in the country would be about 373 LMT which is the second highest in the last 5 years. Further, there has been a considerable increase in the production of sugar during the last 10 years; however, the consumption has not increased in the same proportion; thereby, ensuring the availability of sufficient stock for any unforeseen event.

At the end of July 2023, India

Company News, Finance, World

This is Corteva’s third dividend increase since its 2019 spin-off and a result of the Company’s firm focus on driving margin expansion

Corteva announced Board of Directors has authorised a common stock dividend of $0.16 cents per share, representing an annualised increase of approximately 7 per cent over the Company’s previous quarterly dividend and payable September 15, 2023, to the Company’s shareholders of record on September 1, 2023. This is Corteva’s third dividend increase since its 2019 spin-off and a result of the Company’s firm focus on driving margin expansion and sustainable long-term growth through industry-leading innovation, high-touch customer engagement, together with disciplined operational execution. This announcement reflects the Company’s continued focus on returning capital to shareholders.

This is Corteva’s third dividend increase since

AgroPolicy, Foodgrains, Pulses, Supply Chain

The implementation of stock limit orders and the status of stock disclosure on the portal are continuously monitored by the Department of Consumers Affairs and the State Governments

The Government has decided to release Tur from the national buffer in a calibrated and targeted manner till imported stocks arrive in the Indian market. The Department of Consumer Affairs, Ministry of Consumer Affairs, Food & Public Distribution has directed National Agricultural Cooperative Marketing Federation (NAFED) and National Cooperative Consumers Federation (NCCF) to dispose of Tur through online auction among eligible millers to augment the available stocks for milling into Tur Dal for the consumers.

The quantities being auctioned and the frequency will be calibrated on the basis of the assessed impact of the disposal on the availability of Tur to consumers at affordable prices.

It may be recalled that the Government had imposed stock limits on Tur and Urad by invoking the Essential Commodities Act, of 1955 in order to prevent hoarding and unscrupulous speculation and also to improve affordability to the consumers. Under this order, stock limits have been prescribed for Tur and Urad until 31st October 2023 for all states and UTs.

Stock limits applicable to each of the pulses individually are 200 MT for wholesalers; 5 MT for retailers; 5 MT at each retail outlet and 200 MT at the depot for big chain retailers; last 3 months of production or 25 per cent of the annual installed capacity, whichever is higher, for the millers. The order has also made it mandatory for these entities to declare the stock position on the portal (https://fcainfoweb.nic.in/psp) of the Department.

The implementation of stock limit orders and the status of stock disclosure on the portal are continuously monitored by the Department of Consumers Affairs and the State Governments. In this regard, data on stocks held by various entities in warehouses of Central Warehousing Corporation (CWC) and State Warehousing Corporations (SWCs), stocks pledged by market players with banks etc. have been crosschecked against the quantities declared on the stock disclosure portal.

The State Governments are continuously monitoring the prices in their respective States and are verifying the stock positions of stock-holding entities in order to take strict action on those who violated the stock limits order. 

The implementation of stock limit orders and

AgroPolicy, Foodgrains, India, Supply Chain

Presently, the stock position at 9 depots is 30600 MT which is adequate against the total monthly allocation of 12000 MT under NFSA

The Centre has assured the Manipur government of complete support in ensuring that there is a sufficient stock of foodgrains in different parts of the State at all times and the NFSA beneficiaries are able to receive a regular supply of the entitled quantities.

Sanjeev Chopra, Secretary DFPD visited Imphal to review the functioning of NFSA in the wake of the recent law and order issues in Manipur. In the course of the visit, the DFPD Secretary met the Minister, of Consumer Affairs, Food and Public Distribution (CAFPD), Govt of Manipur L. Susindro Meitei and Chief Secretary, Vineet Joshi. The Centre has allocated an additional quantity of 30,000 MT of Rice in view of the current law & order situation for a period of 3 (three) months- June 2023 to August 2023 to non-NFSA beneficiaries to the State Govt of Manipur.

Presently, the stock position at 9 depots is 30600 MT which is adequate against the total monthly allocation of 12000 MT under NFSA and 6500 MT under non-NFSA.

Besides, Department is exploring additional routes to ensure a smooth and seamless supply of foodgrains through various routes like from Dimapur, Silchar and Bairabi to Manipur state and inducting a total of 25500 MT of Rice in the state by the end of June’2023. The estimated stock position will be sufficient to meet the requirement in the coming month. The regular inflow of stocks will be maintained to ensure that there is no scarcity of food grains in any part of the state.

Presently, the stock position at 9 depots