Nafed

National Cooperative Society to have Rs 500 crore share capital

National Dairy Development Board (NDDB), Amul and NAFED will be among the five promoters of the newly announced national-level cooperative society for organic food products, which will focus on enhancing farmers' income by improving production, certification and marketing system. Last week, the Cabinet Committee on Economic Affairs (CCEA) approved a proposal to establish three new national-level multi-state cooperative societies to promote organic products, seeds and exports. A national-level cooperative organic society, a cooperative seed society and a cooperative export society will be registered under the Multi-State Cooperative Societies (MSCS) Act, 2002. According to sources, the National Cooperative Organic Society, to be based in Anand, Gujarat, will be set up with an authorised share capital of Rs 500 crore. It will have an initial paid-up share capital of Rs 100 crore, sources said. NDDB, co-operative NAFED, Gujarat Co-operative Milk Marketing Federation (GCMMF), which ...

Nafed buys 24,000 tonnes moong so far under price support scheme

The government has procured 24,000 tonnes of green gram (moong) under the Price Support Scheme (PSS) so far this crop year, according to a senior agriculture ministry official. PSS, which is under the Agriculture Ministry, is operationalised only when prices of agri-produce fall below the minimum support price (MSP). Cooperative Nafed is undertaking procurement on behalf of the central government. The ministry has approved procurement of 4,00,000 tonnes of kharif moong in 10 states including Karnataka, Tamil Nadu, Telangana, Chhattisgarh, Haryana, Uttar Pradesh, Gujarat, Odisha and Maharashtra. "So far 24,000 tonnes of moong has been procured, out of which maximum 18,000 to 19,000 tonnes has been procured in Karnataka alone," the ministry official told PTI. The ministry has also given approval for the procurement of 2,94,000 tonnes of urad and 14 lakh tonnes of groundnut crop grown in the 2022-23 Kharif season. However, the procurement couldn't take place as the mandi prices are .

Nafed offloads buffer onion of 20,000 tons in cities to contain prices

To check the sudden spike in onion prices, cooperative Nafed has offloaded 20,000 tonnes of the bulb from the government's reserves in the last three weeks across India, official sources said. Onion is being disposed of at the "going market rate" in major cities like Delhi, Patna, Lucknow, Chandigarh, Chennai and Hyderabad among others, sources said. Nafed has been creating a buffer stock of onion on behalf of the government under the Price Stabilisation Fund (PSF) for the last few years. For 2022-23, Nafed has built a record onion reserve of 2.50 lakh tonnes to deal with a potential spike in onion prices during the lean season that runs from August to December. According to sources, Nafed commenced the disposal of buffer onion on September 14 and has offloaded 20,000 tonnes till now. Onion procured in April and May is being offloaded at the "going market rate", the sources said. The stocks from the buffer will be released in a targeted and calibrated manner till December. Acco

Decoded: Why newly formed Ministry of Co-operation is raising many eyebrows

Questions abound if the freshly carved out ministry is for political heft or if it's a tool to fan Centre-state feud

Govt left with 25,000 tonnes of buffer onion stock, says Nafed's Chadha

Currently, Nafed is offloading onion buffer stock in the market to boost domestic availability and check onion prices which surpassed Rs 75 per kg in some parts of the country in the last few weeks

Nafed procures 95,000 tonnes of onion from farmers to create buffer stock

Last year, Nafed had purchased a total of 57,000 tonnes of onion from the 2018-19 Rabi (winter) crop under the Price Stabilisation Fund

SC's struggles with 'unruly horse' of public policy in foreign awards

The Nafed-Alimenta judgment shows it might perhaps be time for Parliament to intervene and clarify the notion of public policy in the context of foreign arbitral awards

Increase e-purchase limit for NAFED to help farmers: Ajit Pawar to Paswan

As the next crop is soon expected to reach the markets if the NAFED doesn't purchase their onions on time the prices of onion will fall more, said Ajit Pawar

Force majeure to ban on transport of minerals, here're the key court orders

Legal consequences of the coronavirus-triggered lockdown have apparently been dealt with differently by high courts, and the Supreme Court is yet to grapple with them in an appeal

India to export 90,000 tonnes of surplus wheat to Afghanistan, Lebanon

. According to the second government estimate, the country is set to harvest a record wheat production of 106.21 million tonne in the 2019-20 crop year on the back of good rains

Top headlines: Steel firms struggle, state finances to take a hit, and more

From Uber and BigBasket joining hands to deliver essentials, oil producers seeking relief from govt to venture capitalists warning start-ups, Business Standard brings you top headlines of the day

Govt to extend urad imports till June to meet domestic shortage: Report

Meanwhile, the government has decided to offload 5 lakh tonne pulses from its buffer stock to both state governments as well as in the open market.

To control prices, MMTC to import additional 12,500 tn onion from Turkey

The latest contract of onions will begin arriving in India from mid-January onwards

MMTC to procure 6,090 tonnes onion to boost supply, control prices

While MMTC has been tasked to import onions, cooperative Nafed will supply the key kitchen items in the domestic market

NAFED issues international tender to buy, import 100,000 tonnes of corn

The tender closes on Dec. 3 with offers having to remain valid up to Dec. 24.

India's pulse imports to rise this year on rain-induced crop damage

Scenario is precarious for urad with almost half the crop damaged in major growing states, tur quota of 400,000 tonnes already exhausted

Surge in onion prices due to floods, relief likely by Nov-end: Paswan

Earlier today, the Union Minister held a meeting with Consumer Affairs Secretary AK Srivastava and Food Secretary Ravikant over the rising onion prices and the onion import issue.

Inter-ministerial panel reviews prices, availability of onions, tomatoes

The meeting was informed that there have been some disruptions in the supplies because of Diwali holidays and rains in some of the growing areas affecting harvesting

Centre assures immediate and ample onion supply to states as demand rises

Earlier this week, the Centre had taken several decisions to curb the rise in onion prices

Relief for farmers as Nafed plans massive mustard seed purchases at MSP

The produce is trading at Rs 3,500-3,700 a quintal in the ongoing rabi season across all wholesale mandis, which is around 15-20 per cent discount to MSP of Rs 4,200