Equity Tips Free TrialIndian Share Market TipsIndian Stock Market TipsRipples AdvisoryStock cash TipsStock cash Tips High accuracyStock tipsStock Trading Tips
Maharashtra farm commission urges to ban import of GM Soyabean
The Maharashtra Commission for Agricultural Costs and Prices (MCACP) has urged the government to ban imports of genetically-modified (GM) soybean.
GM soybean was being imported from developing countries such as Ethiopia through other routes. India’s imports are sourced mainly from Malawi, Mozambique and other African nations, MCACP said, Financial Express reported.
Though the imports were under the label of the non-GM crop, trade sources suspected large quantities of GM soybean were filtered into the country and that stringent testing by the domestic food regulator was necessary.
“We have called for an immediate ban on such imports as it will hurt domestic farmers,” MCACP said.
Spot prices of soybean had fallen from a three-year high of `3,950 per quintal in January to `3,700/quintal and may decline further if these imports continue, MCACP noted.
India typically imports 1 lakh-1.20 lakh tonne of non-GM soyabean annually. Market sources revealed some 15,000 tonne of soyabean may have been imported in the past few weeks at `2,500-2,600 per quintal.
According to the Solvent Extractors’ Association of India (SEA), the country imported around 123,000 tonne non-GM soyabean during April-October. In 2017-18, the country imported nearly 89,000 tonne.
A Special Offer for a Special Season! Get Stock Cash Tips to start from 2 Days Free Trial Click Here- Stock Cash Trading Tips "We Provide Secure, Smooth Deals You Can Trust"
0 comments
Note: only a member of this blog may post a comment.