The Cabinet approved a subsidy of 35 bln rupees for export of 6 mln tn sugar during 2020-21 (Oct-Sep) to help stabilise prices and benefit farmers, Minister of Information and Broadcasting Prakash Javadekar said. Within a week, the farm ministry will send a Budget proposal for its flagship National Mission on Edible Oils of 50 bln rupees a year to the finance ministry, a senior government official told Cogencis. Earlier, the proposal was for 100 bln rupees. The Supreme Court proposed the formation of a committee to look into the issue of the farmers' agitation at Delhi's borders. Guntur Agriculture Market Committee in Andhra Pradesh is planning to set up its own chilli processing units to make branded powder, M. Venkateshwara Reddy, secretary of the committee, told Cogencis. The Multi Commodity Exchange Clearing Corp, the clearing arm of the Multi Commodity Exchange of India, has decided to keep the minimum margin period of risk for commodities unchanged in January, based on its liquidity, the exchange said in a circular. National Commodity Clearing Ltd, the clearing arm of the National Commodity and Derivatives Exchange, has so far marked 7,550 tn of soybean and 5,110 tn of cottonseed oilcake for staggered delivery against the December contract that will expire on Friday, according to data on its website.
Source:-moneycontrol.com