NEW DELHI: India may import 25% less edible oil next season despite drought as
excessive purchase from overseas this season would more than
offset any deficit in
output though the prices are unlikely to cool down.
Despite a likely decline in oilseed production in 2009-10 edible oil imports are forecast down to six million tonnes due to larger than normal carry-over stocks said a report by the United States department of agriculture (USDA).
India the largest edible oil importer after China is expected to purchase a whopping eight million tonnes of edible oil this season November-October taking advantage of a zero import duty regime and lower global prices.
Anticipating a decline in the kharif oilseed production and relatively lower prices for edible oils in the international market private traders have been taking advantage of zero import duty to import huge quantities of vegetable oils in the recent months, thereport said.
However, an industry official said prices may not come down despite huge stocks as fears persist about slump in oilseed production due to poor monsoon. The government scrapped import duty on crude edible oil in April last year to contain the price rise as over 40% of its annual domestic consumption of over 12.5 million tonnes is met through import.
Edible oil import by the country has already gone up by about 66% to nearly 6.1 million tonnes so far this season amid indications that the overseas purchase would continue its robust march mainly after drought dented prospects of summer-sown oilseed crops.
India produced 28.15 million tonnes of oilseeds in 2008-09. But with areas under groundnut a major oilseed crop declining by close to ten lakh hectares, experts say a replication of the last year’s production seems improbable as of now.
Edible oil import by the country has already gone up by about 66% to nearly 6.1 million tonnes so far this season amid indications that the overseas purchase would continue its robust march mainly after drought dented prospects of summer-sown oilseed crops.
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Sugar prices down by Rs 2
KOLKATA: Sugar prices which went up as high as Rs 34-36 per kg last week fell Rs 2
per kg over the past couple of days, mainly due to the
absence of bulk consumers
from the wholesale sugar market.
To stem the rising spree in sugar prices, the government while initiating a string of measures including allowing duty free import of raw sugar and refined sugar, has imposed a cap on stockholding of sugar by bulk consumers.
This has forced especially the soft drinks and biscuits producers to trim their bulk purchase of sugar from the market, which has somewhat temporarily eased its supply in the retail market, traders said.
However the market is not so sure about how long the price would be sustained at this level given the sugar shortage, estimated at about 9 million tonnes. Even as the government, as per its latest decision, starts importing sugar to bring down its price below the psychological level of Rs 30 per kg, it has to provide a huge subsidy for buying the sweetener at a very high level, an industry official said.
Anticipating India's huge import requirement in the aftermath of domestic sugar production plunging to 14.5 million tonnes in the 2008-09 sugar season (October-September) against its domestic demand of 23 million tonnes, refined sugar prices in the global market has shot up 60% to $610 per tonne in August 2009 from a level of $380 per tonne in October 2008.
This has put paid plans of soft drinks and confectionery producers to go in for imports to meet their requirements.
On the home front, the domestic sugar industry will feel the pressure to lower their ex-mill sugar prices below Rs 25-26 per kg with cost of production, too, shooting up substantially in the wake of the recent revision in sugarcane prices, which have increased more than 30-40% in different sugar producing states, he said.
Though the Centre has increased the statutory minimum price (SMP) for sugar to around Rs 108 per quintal for the 2009-10 sugar season, sugar mills have to pay for sugarcane to the farmers at the state advised prices (SAP), which are also 30-40% higher than the SMP. But, following shortfall in sugarcane output due to drought-like situations, sugar mills may have to pay more than the SAP to buy sugarcane from farmers, which are expected to rise above Rs 150 per quintal in the coming sugar season, he said.
per kg over the past couple of days, mainly due to the
absence of bulk consumers
from the wholesale sugar market.
To stem the rising spree in sugar prices, the government while initiating a string of measures including allowing duty free import of raw sugar and refined sugar, has imposed a cap on stockholding of sugar by bulk consumers.
This has forced especially the soft drinks and biscuits producers to trim their bulk purchase of sugar from the market, which has somewhat temporarily eased its supply in the retail market, traders said.
However the market is not so sure about how long the price would be sustained at this level given the sugar shortage, estimated at about 9 million tonnes. Even as the government, as per its latest decision, starts importing sugar to bring down its price below the psychological level of Rs 30 per kg, it has to provide a huge subsidy for buying the sweetener at a very high level, an industry official said.
Anticipating India's huge import requirement in the aftermath of domestic sugar production plunging to 14.5 million tonnes in the 2008-09 sugar season (October-September) against its domestic demand of 23 million tonnes, refined sugar prices in the global market has shot up 60% to $610 per tonne in August 2009 from a level of $380 per tonne in October 2008.
This has put paid plans of soft drinks and confectionery producers to go in for imports to meet their requirements.
On the home front, the domestic sugar industry will feel the pressure to lower their ex-mill sugar prices below Rs 25-26 per kg with cost of production, too, shooting up substantially in the wake of the recent revision in sugarcane prices, which have increased more than 30-40% in different sugar producing states, he said.
Though the Centre has increased the statutory minimum price (SMP) for sugar to around Rs 108 per quintal for the 2009-10 sugar season, sugar mills have to pay for sugarcane to the farmers at the state advised prices (SAP), which are also 30-40% higher than the SMP. But, following shortfall in sugarcane output due to drought-like situations, sugar mills may have to pay more than the SAP to buy sugarcane from farmers, which are expected to rise above Rs 150 per quintal in the coming sugar season, he said.
Latest 26/11 dossier a 'rehash' of previous info: Pak
Pakistan described the latest dossier provided by India on the Mumbai attacks as a "rehash of information" contained in previous documents, indicating that it is inadequate for taking action against LeT founder Hafiz Mohammad Saeed.
"The last dossier from India was a rehash of information received in previous dossiers," Foreign Office spokesman Abdul Basit told a weekly news briefing.
Basit was responding to a question about India linking the resumption of peace talks to Pakistan taking action against the perpetrators of the Mumbai attacks, including Saeed. New Delhi has accused Saeed of playing a key role in planning and facilitating the attacks.
The spokesman did not say how Pakistan intended to deal with Saeed, for whom Interpol recently issued a Red Corner Notice.
The trial of suspects arrested by Pakistani authorities in connection with the Mumbai attacks is proceeding and Islamabad is "serious about bringing the perpetrators to book," Basit said.
"The last dossier from India was a rehash of information received in previous dossiers," Foreign Office spokesman Abdul Basit told a weekly news briefing.
Basit was responding to a question about India linking the resumption of peace talks to Pakistan taking action against the perpetrators of the Mumbai attacks, including Saeed. New Delhi has accused Saeed of playing a key role in planning and facilitating the attacks.
The spokesman did not say how Pakistan intended to deal with Saeed, for whom Interpol recently issued a Red Corner Notice.
The trial of suspects arrested by Pakistani authorities in connection with the Mumbai attacks is proceeding and Islamabad is "serious about bringing the perpetrators to book," Basit said.
YSR’s body arrives in Kurnool Airfield
The chief minister’s body is expected at 5 pm today in Hyderabad. It will be taken to his official residence. From 9 am to 1 pm tomorrow, YSR’s body will be at Lal Bahadur Stadium for public viewing. He will then be taken to his village, Pulivendula, for last rites.
Andhra’s YSR: 1949-2009
Andhra’s YSR: 1949-2009
Andhra CM YSR Reddy, 4 others killed in crash
Andhra Pradesh Chief Minister YS Rajashekhara Reddy has died in a chopper crash in the jungles of Nallamalla near Kurnool. His body was found on Thursday morning after an intensive search operation. Army commandos also recovered dead bodies of four other people who were on board the twin-engine Bell 430 helicopter. [Updated : 1306 hrs IST]
15 percent pre-schoolers depressed: Study
Toronto, Aug 29 (IANS) Almost 15 percent of pre-school students are beset with high levels of depression and anxiety, according to a new study.
The investigation, which was carried out over a period of five years, also found that such children are more likely to have mothers with a history of depression.
The study was conducted by researchers from the Universites of Montreal, Laval and McGill, as well as Inserm (Institut national de la sante et de la recherche medicale) France, Carnegie Mellon University in the US and University College, Dublin Ireland.
'As early as the first year of life, there are indications that some children have more risks than others to develop high levels of depression and anxiety,' says study co-author Sylvana M. Cote, professor in social and preventive medicine at Montreal University.
'Difficult temperament at five months was the most important predictor of depression and anxiety in children,' Cote said.
Scientists annually evaluated a representative sample of pre-schoolers from five months to five years of age. All 1,758 children were born in Quebec and mothers provided information during extensive interviews on behaviour and family members, according to a release.
'We found that lifetime maternal depression was the second most important predictor of a typically high depressive and anxiety problems during pre-school years,' stresses Cote.
'Our study is the first to show that infant temperament and lifetime maternal depression can lead to a high trajectory of depressive and anxiety problems before school entry.'
'It is critical that preventive interventions be experimented with infants who risk developing depressive and anxiety disorders,' adds Cote.
The investigation was published in the Journal of Child Psychology and Psychiatry.
Radio contact with India's lunarcraft Chandrayaan lost
Bangalore, Aug 29 (IANS) Radio contact with India's first lunarcraft Chandrayaan-1 was abruptly lost early Saturday, the Indian space agency said.
'The contact was lost at 01.30 IST as the deep space network (DSN) at Byalalu, about 40 km from Bangalore, received the data from the lunarcraft during the previous orbit up to 00.25 IST,' according to an Indian Space Research Organisation (ISRO) statement here.
The space scientists are reviewing the telemetry data to analyse the health of the spacecraft's sub-systems.
Chandrayaan was launched Oct 22, 2008 from India's only spaceport Sriharikota, about 90 km from northeast of Chennai, on board the polar satellite launch vehicle (PSLV).
'The spacecraft has completed 312 days in orbit, making over 3,400 orbits around the moon and providing large volume of data from sophisticated sensors like terrain mapping camera, hyper-spectral imager, moon mineralogy mapper and so on, meeting most of the scientific objectives of the mission,' the statement added.
ISRO loses contact with Chandrayaan
ISRO has lost its radio link with India's first lunar-craft Chandrayaan-1. the link was lost at approximately 1:30 am IST. What this means for now is that communication cannot be received from the lunar-craft.
On October 22, 2008, Chandrayaan was launched amid much fanfare from India's only spaceport Sriharikota, about 90 km north-east of Chennai. The mission was a major boost to India's space program, as India competes with China and Japan in exploring the Moon. The vehicle was successfully inserted into lunar orbit on 8 November 2008.
On November 14, 2008, the ‘Moon Impact Probe’ separated from the Moon-orbiting Chandrayaan, making India the fourth country to place its flag on the Moon.
The 11 scientific payloads on-board the lunar-craft were sending high quality data as per planned sequence to its ground station.
The lunar-craft has orbited around the moon 3000 times over the last nine months and its high-resolution cameras relayed over 70,000 digital images of the lunar surface, providing breathtaking views of mountains and craters, including those in the permanently shadowed area of the moon's polar region.
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