Daily Archives

November 7, 2012

Crop insurance a post-election target, farm bill elusive

WASHINGTON | Wed Nov 7, 2012 By Charles Abbott Federally subsidized crop insurance will be a big target for lawmakers looking to cut the budget deficit in the lame-duck session of Congress opening next week, agricultural policy experts agreed the morning after a status-quo general election. But lawmakers will probably be unable to break their deadlock over enacting a five-year, $500 billion farm bill covering a wide range of agricultural policy from food stamps to crop subsidies and…

Rain may cut Argentine 2013 soyabean crop: Oil World

November 07, 2012: Argentina's 2013 soyabean crop may be 3-6 million tonnes below earlier forecasts of 55-56 million tonnes as repeated rain is disrupting sowings in the country, Hamburg-based oilseeds analysts Oil World said on Tuesday. "The situation is rather alarming in Argentina where an estimated 13-16 million hectares of agricultural land is either flooded or excessively wet at the moment," Oil World said. The rain means Argentine farmers are having difficulty sowing the crop…

Kisan Movement to join KBP protest camp

November 07, 2012: National Kisan Movement (NKM) has announced to join the protest camp announced by the Kisan Board Pakistan (KBP) at Islamabad to press the government for solving the problems being faced by the farmers' community. It also announced to jointly struggle with the KBP against the anti-grower policies of the government. This announcement was made in a meeting by NKM Chairman Major Habib ur Rehman Mayo (retd) with KBP Central Secretary Information Haji Muhammad Ramzan.…

Seminar on commencement of Agriculture Commodities held at KSE

November 07, 2012: Pakistan Mercantile Exchange (PMEX), Karachi Stock and Institute of Capital Markets jointly conducted a seminar on the commencement of Agri Commodities physical deliverable trading at the Karachi Stock Exchange (KSE) on November 5. KSE Managing Director Nadeem Naqvi, ICM CEO Javed Hassan, Maroof Moulvi of M M Group of Companies, PMEX Director Majeed Adam and other agriculture related personnel were present on the occasion. Nadeem Naqvi opened the seminar by welcoming…

Award of contract for tunnel-boring machines: TI Pakistan for investigation into Rs 7 billion loss

IQBAL MIRZA November 07, 2012: Expressing deep concern over the allegation of loss to exchequer of Rs7 billion in the award of contract by Wapda for two tunnel-boring machines (TBMs) for the Neelum-Jhelum project at a cost of over Rs19.5 billion without tendering, Transparency International Pakistan urged the Prime Minister to institute an inquiry against persons involved in this "mis-procurement". The contract was awarded in violation of Public Procurement Regulatory…

Green Tractor Scheme criticised

November 07, 2012: The Punjab government's Green Tractor Scheme meant for the youth of the province who own 2.5 acres of land is said to be flawed, as banks, as a matter of policy, do not extend loans against land holdings of less than 5 acres, sources told Business Recorder on Tuesday. According to the scheme, tractor allocations, previously made on the basis of cultivated area, were distributed in accordance with population, focusing on youth living in cities who do not really need a…

Meeting discusses sale of fake pesticides, fertilisers

November 07, 2012: Under the directives of Provincial Minister Agriculture Department, Government of Sindh Syed Ali Nawaz Shah and Secretary Agriculture Department, as well as the complaints of growers regarding the sale of substandard and fake pesticides/fertilisers in the market, a meeting of all Divisional Directors and Deputy Directors Agriculture Extension Department was held under the Chairmanship of Director General Agriculture Extension, Sindh, Hyderabad Hidayatullah Chajjro. The…

Sindh fixes Rs 172 per 40kg as minimum sugarcane price

November 07, 2012: The Sindh Agriculture Department on Tuesday fixed the minimum price of sugarcane at Rs172 per 40 kilograms for the crushing season 2012-13. The government of Sindh also directed sugar mills to pay quality premium to cane growers at the end of the crushing season, but said that the matter was still pending in the Supreme Court and as per decisions of the federal government and the Steering Committee's meeting held on July 16, 2007, the quality premium "shall remain…

Soya export premiums firm at US Gulf Coast

November 07, 2012: Export premiums for soyabeans at the US Gulf Coast were unchanged to higher on Monday, underpinned by steady demand and concerns about tight near term supplies of the oilseed, traders said. Soya export demand at the Gulf was quiet, but top importer China may have booked at least one cargo on Monday for shipment from the Pacific Northwest, a trader said. Poor crush margins at Chinese soya processors limiting greater demand for US soya. Shipments of previously sold…

Palm oil recovers

November 07, 2012: Malaysian palm oil futures edged up on Tuesday, recovering from their lowest in more than three weeks the previous day, although gains were capped by concerns over stockpiles and uncertainty ahead of the US elections. Investors also turned their focus to the risk from floods in Malaysia that could hamper production and ease pressure on swelling stocks in the world's No.2 producer, but fears remained that inventory could still climb to a fresh high. Industry regulator…

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