Latest news with #FarmMinistry
Bloomberg
04-07-2025
- Climate
- Bloomberg
Early Monsoon Rains in India Raise Hopes of a Bumper Grain Crop
Early and widespread monsoon rains in India have accelerated the sowing of rice, oilseeds and pulses, boosting the country's chances of record grain harvest this year, according to the farm ministry's top bureaucrat. With rains arriving ahead of schedule in many regions, farmers have been able to begin sowing earlier than usual, Farm Secretary Devesh Chaturvedi said. If that continues at a normal pace through the critical months to September, it could benefit both the current crops and the upcoming winter harvest, he said.
Free Malaysia Today
29-05-2025
- Business
- Free Malaysia Today
India wheat, rice production to rise to record high
The country's rice production in 2025 is estimated at 149 million metric tonnes, up from last year's 137.8 million tonnes. (Wiki Commons pic) MUMBAI : India is likely to produce a record 117.5 million tonnes of wheat in the year ending June 2025, the farm ministry said, above its March forecast of 115.4 million tonnes, as higher prices prompted farmers to expand the area planted with high-yielding seed varieties. India, the world's biggest wheat producer after China, produced 113.3 million tonnes of wheat in 2024, the farm ministry said in a statement issued late on Wednesday. However, a leading industry body said the crop was nearly 6.25% lower than the government's estimate. The country's rice production in 2025 is also set to climb to a record high, with the ministry estimating it at 149 million metric tonnes, up from last year's 137.8 million tonnes. Record production of wheat and rice will lift the country's total food grains production to 354 million tonnes from last year's 332.3 million tonnes. A strong wheat harvest in India is rapidly replenishing stocks, meaning the country will be able to meet domestic demand without imports this year, contrary to market talk that it would need overseas supplies, and a potential drag on global prices. India is the world's biggest exporter of rice and higher production will help New Delhi to increase shipments.
Yahoo
29-05-2025
- Business
- Yahoo
India wheat, rice production to rise to record high, government says
MUMBAI (Reuters) -India is likely to produce a record 117.5 million metric tons of wheat in the year ending June 2025, the farm ministry said, above its March forecast of 115.4 million tons, as higher prices prompted farmers to expand the area planted with high-yielding seed varieties. India, the world's biggest wheat producer after China, produced 113.3 million tons of wheat in 2024, the farm ministry said in a statement issued late on Wednesday. However, a leading industry body said the crop was nearly 6.25% lower than the government's estimate. The country's rice production in 2025 is also set to climb to a record high, with the ministry estimating it at 149 million metric tons, up from last year's 137.8 million tons. Record production of wheat and rice will lift the country's total food grains production to 354 million tons from last year's 332.3 million tons. A strong wheat harvest in India is rapidly replenishing stocks, meaning the country will be able to meet domestic demand without imports this year, contrary to market talk that it would need overseas supplies, and a potential drag on global prices. India is the world's biggest exporter of rice and higher production will help New Delhi to increase shipments. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Japan Times
28-05-2025
- Business
- Japan Times
With latest move, farm ministry sets sights on ¥1,800 for a 5-kg bag of rice
The agriculture ministry will start selling older batches of stockpiled rice to smaller retailers and rice shops through no-bid contracts, which are likely to be sold at an even lower price: a 5-kilogram bag of rice produced in 2021 is expected to carry a price tag of ¥1,800 ($12.50). Farm minister Shinjiro Koizumi told reporters on Tuesday night that his ministry will suspend offering no-bid contracts to major retailers after about 70 of them applied to purchase from the government's stockpile of some 200,000 metric tons of rice harvested in 2022 in less than two days. It will, instead, start accepting applications from midsize and small supermarkets, as well as rice shops — retailers that sell less than 10,000 tons of rice annually — from as early as Friday, he said. 'This is strictly meant to pour cold water onto the heated market,' Koizumi told a Lower House farm committee on Wednesday, referring to the shift from an auction system to no-bid contracts. The ministry, he said, will discuss long-term measures on how to make rice production more sustainable for farmers when the dust settles. Once the cheaper rice hits the shelves, supermarkets will have bags of rice along a range of prices. 'There will be the premium brands that cost around ¥5,000, the stockpiled rice sold via auctions that cost somewhere between ¥3,000 and ¥4,000; the ¥2,000 rice from no-bid contracts; and ¥1,800 bags at smaller retailers,' Koizumi said. 'Consumers will have more options to choose from.' To a question from opposition Constitutional Democratic Party of Japan leader Yoshihiko Noda on whether the government plans to increase the supply of imported rice into the country, Koizumi replied that all options are on the table. The agriculture ministry under Koizumi's predecessor, Taku Eto, initially sold stockpiled rice through auctions to distributors. But the method failed to bring down prices — the average price of a 5-kg bag of rice at supermarkets hit a record ¥4,285 in the week through May 18. 'It didn't hit the stores quick enough,' Koizumi said, referring to the rice sold via auctions. 'It didn't lower the prices like people had hoped for.' The government stocks up 200,000 tons of rice every year, which are stored for five years before being sold as feed if they are not drawn down in times of emergency, such as natural disasters or extremely poor harvests. This means it has 1 million tons of stockpiled rice in any given year. So far, 310,000 tons of the rice from the government stockpile have been auctioned off, along with another 300,000 tons sold through no-bid contracts. Koizumi said his ministry will eventually restore the stockpile to the 1-million-ton mark, though he did not give a specific timeline for this. Japan consumes about 7 million tons of rice a year, according to the ministry.
Japan Times
26-05-2025
- Business
- Japan Times
Bags of rice at half price will hit stores by early June, Koizumi says
Farm minister Shinjiro Koizumi on Monday revealed the details of a no-bid contract procedure, in which the government will sell 300,000 metric tons of stockpiled rice to major retailers, with the goal of halving what consumers are paying at supermarkets for the grain by early June. The government will sell 200,000 tons of rice produced in 2022 and another 100,000 tons harvested in 2021 to retailers at ¥11,556 ($81) for a 60-kilogram bag of unpolished rice. With necessary costs added on, this will translate to around ¥2,160 for a 5-kg bag of rice at retailers, Koizumi said. The government plans to shoulder the transportation costs for shipping the rice to retailers. It will also not buy new rice from the same seller that purchased the rice for its stockpile after a certain time period to make up for the loss, which is normally mandatory when the government releases such rice as it is set aside for emergencies such as natural disasters and extremely poor harvests. Retailers applying for the no-bidding process must submit a sales plan. Those who then purchase the stockpiled rice must report to the ministry how much of it they sell on a weekly basis, and if they fail to appropriately sell the amount of rice outlined in their sales plan, they will be stripped of their right to purchase stockpiled rice and have their names publicized on the ministry's website. Farm minister Shinjiro Koizumi speaks to reporters Friday after visiting a rice store in Tokyo's Koto Ward. | JIJI 'We want to avoid retaining high rice prices and prevent consumers from shifting away from eating rice,' Koizumi said at a ministry event to establish a team of 40 bureaucrats to tackle the problem. The ministry drastically shifted its policy for releasing stockpiled rice — from an auction system to one involving no-bid contracts after Koizumi replaced his predecessor, Taku Eto, who resigned over a rice gaffe. Initially, stockpiled rice was auctioned off to the National Federation of Agricultural Co-operative Associations (Zen-Noh) with the goal of lowering prices by increasing supply. The plan didn't appear to work, however, with the weekly average of rice prices hitting a record ¥4,285 per 5 kg in the week through May 18. Supermarkets throughout the nation are also still experiencing shortages. Immediately after Koizumi was appointed last Wednesday, Prime Minister Shigeru Ishiba instructed him to switch to no-bid contracts, which allow the government to sell rice at a price of its own discretion and decide who to sell to, unlike auctions, in which the staple goes to the highest bidder. Online shopping mall operator Rakuten's CEO Hiroshi Mikitani, has already expressed his intention to sell stockpiled rice online when he met with Koizumi on Friday. In a report released Monday, Takahide Kiuchi, executive economist at Nomura Research Institute, said the ministry's new method will likely help reduce rice prices to around ¥2,000 a bag. But he was unsure how many people will ultimately be able to benefit from the cost reduction. Koizumi speaks at a ministry event in Tokyo on Monday. Immediately after being appointed farm minister last Wednesday, Koizumi was instructed to switch from an auction system for selling government-stockpiled rice to one involving no-bid contracts. | JIJI 'It may turn out that only a small portion of consumers will be able to buy rice at around ¥2,000 if people go panic-buying,' Kiuchi said. 'If the stockpiled rice is sold out, many people might be forced to buy the high-priced rice once again.' Kiuchi pointed out that the no-bid contract method is usually not recommended due to the opaque process involved, which could allow the government to sell rice at higher prices to sellers without disclosing it to the public. 'It's an exceptional measure,' he said. 'It shows how much pressure the government is under.' Media polls conducted over the weekend show the public has high expectations for Koizumi and the policy shift. A Kyodo News poll showed that 59.8% of the 1,064 respondents thought rice prices will fall with Koizumi's appointment. The same pole showed Ishiba's approval rating rising 4.3 percentage points on the week to 31.7%. A Nikkei poll showed that Ishiba's approval rating inched up to 34%, with 65% of the respondents saying they have high hopes for Koizumi.
