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: Punjab farmers warn of reducing wheat acreage

Terming the hike of Rs 20 a quintal in minimum support price (MSP) of wheat as “ grossly inadequate” and “injustice” with the farmers, farmers’ body in Punjab on Thursday warned that state farmers would substantially reduce the under wheat during the coming Rabi season because of “lower” wheat MSP that could create food crisis situation in the country. “Majority of wheat growers in the state (Punjab) are already annoyed over the low realisation from wheat sowing and now with Centre increasing just Rs 20 per quintal in wheat MSP which is a cruel joke with farmers..this year farmers will certainly reduce area under wheat and switch over to other crops to get remunerative returns,” Bhartiya Kisan Union (Rajewal), president, Balbir Singh Rajewal said on Thursday

Maize futures contracts

Leading commodity exchange MCX on Thursday launched two short-duration futures contracts in maize that will expire in November and December this year. “The commodity market regulator has given permission to launch a shorter duration contracts in maize (feed/industrial grade) for two months,” an official with MCX said. According to the exchange circular, a trading member can trade up to 30,000 tonne, while an individual trader can have exposure to up to 10,000 tonne in a contract. In early trade, the November and December contract in maize were trading at Rs 1,010 per quintal and Rs 995 per quintal respectively

PEC invites bids pulses sale

State-run PEC has invited bids for sale of 2,867 tonne of imported pulses in the domestic market. Bids will close on November 9 and the decision on the tender will be taken by November 16, the company said on its website. PEC said it will sell imported pulses - tur, urad (black mapte), yellow peas and chana (chick peas) - grown in the 2008 and 2009 season. Bidders should bid for the entire quantity fixed for a particular variety.

Sugar rises to new high