Olive oil imports rose by 66% to 11,916 tonne in 2012-13 despite a rise in global prices, an industry body said. India imported 11,916.76 tonne in the year ending March 2013 compared to 7,163.08 tonne in March 2012, producing a never-before-seen increase of 66.36%," Indian Olive Association said in a statement. "The 66% growth rate comes despite a price increase of more than 40% in the last year in producer countries. Prices remain on historical highs even now despite the expectation of a reasonable crop this year," the association said. An additional adverse factor is the steep depreciation of the rupee in recent weeks.
Goa plans to allow contract farming
The Goa government is toying with the idea of amending the Goa, Daman and Diu Tenancy Act, which will pave the way for contract farming to spur agricultural growth in the state. State chief secretary B Vijayan told this to reporters. "There is an idea of revisiting the Tenancy Act, though it has not taken concrete shape yet," he said. The Manohar Parrikar-led state government has been emphasising growth of primary sector to compensate the loss in revenue due to stoppage of mining activity.