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India seeks discount in rare one-year urea import tender, say sources -Nidhi Verma New Delhi: India has issued a global urea tender asking producers to quote a discount for the supply of 600,000 tonnes of urea, industry sources said and a document shows, as the nation seeks to cut import costs and secure cheaper supplies of the soil nutrient. India, where soil nutrients are sold at below market rates, annually imports urea through tenders by authorised companies such as India Potash Ltd, Rashtriya Chemicals...

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India's farm sector performance has improved over the years, shows latest FAO report

The World Food and Agriculture – Statistical Yearbook 2022, released in December 2022, provides its readers a plethora of useful statistics and data across the countries pertaining to agriculture and food security. The yearbook by Food and Agriculture Organization (FAO) primarily covers four themes -- Economic Dimensions of Agriculture; Production, Trade and Prices of Commodities; Food Security and Nutrition; and Sustainability and Environmental Aspects of Agriculture.  While going through the report,...

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What is in store for India’s imports?

There is some respite expected for India in terms of prices of imported commodities. This may ease the depletion of its foreign exchange reserves. The country has faced a widening of its merchandise trade deficit from US$ -17.91 billion to US$ -26.91 billion between October 2021 and October 2022. The commodity price data provided by the World Bank in December 2022 (termed as The Pink Sheet) shows that energy prices plummeted by...

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Empowering farmers is essential for the broad prosperity of India -Mansukh Mandaviya The government aims to achieve this through a new network of farm need fulfilment centres and a single brand of fertilizer Farmers have always been the backbone of India’s economy and the government led by Prime Minister Narendra Modi is striving to strengthen Indian farming through innovative and concrete measures in the fertilizer sector with the vision of ‘Sabka Saath, Sabka Vikas’. Structural changes in this sector are crucial for achieving this...

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World Bank's New Warning On Sri Lanka Amid Severe Food Price Inflation

-Asian News International/ Sri Lanka Economic Crisis: This comes as food price inflation remains at a multiyear high in South Asian countries including Pakistan. Colombo: Sri Lanka is ranked fifth among the 10 countries with the highest food price inflation in the world, according to the latest World Bank assessment. In its Food Security update, the World Bank said trade policy actions on food and Fertilizers have surged since the beginning of...

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