Jeera (cumin) prices rebounded in the domestic market on account of tension in West Asia, particularly after the airstrike on Syria, the second largest producer of the spice.

From a low of ₹17,363/quintal on March 10, prices of jeera have picked up in the last few weeks. Jeera exports for the current year are estimated as high as 1,00,000-1,50,000 tonnes as global supplies are very limited. Former president of Unjha Chamber of Commerce, Arvind Patel, has reportedly said that the war situation in Syria could leave the world depending only on the Indian crop.

Cabinet relaxes land ceiling limit for palm oil

The Union Cabinet has relaxed the land ceiling limit for palm oil cultivation under the NMOOP (National Mission on Oilseeds and Oil Palm). Now, assistance can be provided to more-than-25-hectare area.

The Cabinet has also given its approval to revise norms for planting materials, maintenance cost, inter-cropping cost and borewell to make oil palm plantations attractive. Palm oil contributes 70 per cent of vegetable oil import in India. The total production of edible oil in the country is about 9 million tonnes (mt) and the domestic requirement is about 25 mt. This gap is met through imports, amounting to ₹68,000 crore in 2015-16.

Centre to procure potato from UP farmers

The Centre will purchase 1,00,000 tonnes of potato from Uttar Pradesh farmers in the 2016-17 season at ₹4,870 per tonne. According to an official release, the procurement will be carried out by the state agencies under the Market Intervention Scheme (MIS).

The Ministry will provide an additional ₹1,217.50 per tonne or the actual amount, whichever is less, for overhead expenses, such as transportation charges, mandi tax, and godown charges, the release stated.

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