India food exports to rise 12pc.

The Agricultural and Processed Food Products Export Development Authority (APEDA) expects 12 per cent yearly growth in processed food and fruit exports, APEDA General Manager Pravin Gupta said on the launch of Mango fair in Singapore.

He said that demand for India's food products is increasing as APEDA continues to exploit new markets. In 2009-10 APEDA exports rose to Rs 400 billion, up Rs 20 billion from the sales a year earlier. "Having established networks in the United States in 2007, Japan in 2008 and China 2009, we are targeting new markets to increase Indian food distribution globally," Pravin Gupta said.

Stocks felll to lowest since Febon Friday after May's jobs figure slammed investors already reeling from worry over another developing debt crisis, this time in Hungary.

Data showed the US economy added fewer-than-expected jobs last month, with a large portion of those being temporary hirings for the US Census. Investors rapidly reversed bets made during the week as expectations for a blowout number grew, leading up to the report. Wall Street, which is down 12.5 per cent since the April 23 closing high for the year, sold off broadly, led by economically sensitive sectors, including industrials, technology and small-caps, on concerns that the economy will recover by fits and starts.

Tea production increased 9 per cent to 68.24 million kg (mkg) in April, up from 62.59 mkg during the corresponding month a year ago. Much of the increase was in North India, while plantations in the South fell marginally.

But for the last week of April, rainfall was sparse over the tea-growing regions in the South. While the shortfall in April production was anticipated, the impact of late rainfall in April is likely to manifest only in the May crop, sources in the United Planters Association of Southern India said. May also received average to above average rainfall and production prospects are favourable.

Bulk of the growth in north Indian plantations came from Assam which recorded an eight mkg growth. Early sowing trends are any indication, farmers have more or less chosen to bring in more area under pulses and cotton this time, while opting out of oilseeds.

According to the Agriculture Ministry's latest kharif sowing update, a total area of 0.954 lakh hectares (lh) have so far been planted under pulses, which is 18.8 per cent more than last year's coverage of 0.803 lh at this point of time. Likewise with cotton, where 11.233 lh have already been sown, a 6 per cent increase over last year's corresponding area of 10.601 lh. In both pulses and cotton, the price outlook is currently favourable to farmers, with domestic production shortfall in the former's case and export demand for the latter being the main drivers.

Source :- thefinancialexpress-bd.com