Farmers are getting less for milk, but retail prices are unchanged. Global skimmed milk powder prices are down, as are India’s exports. A way to absorb surplus could be to include milk in mid-day meals scheme.
The catch, however, is that the new FRP of Rs 275 per quintal is linked to a higher basic sugar recovery of 10 per cent of cane. This is against the FRP of Rs 255 per quintal for the 2017-18 season, which is linked to a basic recovery of only 9.5 per cent.
With China clamping a 25 per cent duty on US soyabean with effect from July 6 — as part of retaliatory measures against the President Donald Trump’s tariffs on some $34 billion worth of Chinese goods — a new opportunity has opened up for India.
This is the second such committee set up by the Indian Council of Agricultural Research (ICAR) within three months, on an issue that has taken on political overtones with elections to the MP Assembly slated in November-December.
New RBI data on India’s Balance of Payments (BoP) for 2017-18 show current account deficit (CAD) at $48.72 bn, the highest since the record $88.16 bn of 2012-13. With CAD expected to widen to $75 bn during this fiscal, how vulnerable is the overall BoP position today?
With India and China signing an agreement on Saturday to amend a protocol on phytosanitary requirements, which will allow India to export non-basmati rice to China, rice millers see the opening up of the Chinese market for Indian grain as a positive sign in the long run.