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The government is also keeping a close watch on sugar futures trading to keep a check on speculative activity and ensure no spike in retail price
Cash shortage had led to vegetable prices crashing, delayed wheat sowing and inadequate inputs for winter crops as well as a fall in wages.
Lack of rains in November and December, this season, had increased the temperature by few degrees from normal
The agreements will come into force on the date of their signing and will remain valid for five years, an official statement said.
With a more balanced demand-supply position of sugar, one expects the sugar prices to be stable in the next year or so.
The Minister, who is also in charge of consumer affairs department, said the government will make efforts to pass the new Consumer Protection Bill in the forthcoming Budget session of Parliament after it remained hanging last year.
However, continuing cost pressures, attributable to the increase in wage rates, kept margins and debt coverage indicators under check, ICRA added.
As on December 31, 2016, Maharashtra sugar mills have produced of sugar have been produced 25.25 lakh tonnes sugar as against 33.70 lakh tonnes produced during the corresponding period last season.
The sugar prices dipped further to Rs 34,500-34,750/MT in the first week of December following subdued demand from traders due to the cash crunch.
The production of cotton in the country which had reached a record high of over four crore bales during the 2013-14 crop year fell to about 386 lakh in 2014-15.
Wholesale prices fell by up to 42 per cent to Rs 7.40 per kg at Lasalgoan (Maharasthra), Asia's biggest onion market, during last month from an average Rs 12.80 per kg.
The insurance is being offered by National Insurance Company and their officials will be facilitating enrollment of farmers in the scheme, the minister said.
Rabi planting is expected to continue till the month’s end. The government has set a rabiseason crop planting target of 638.37 lakh hectares.
In the past two years, the Basmati rice industry has been under financial stress on account of excess paddy supply and weak international demand.
The farm sector growth stood at 1.2 per cent in the 2015-16 fiscal due to drought.
Of the 99 projects, the maximum 26 are in Maharashtra, eight in Andhra Pradesh and one in Gujarat.
The growth in spun yarn production slowed further to 1.1% in H1 FY2017 from the slowest growth in four years (3.2%) witnessed in FY2016.
The cabinet has identified 99 incomplete irrigation projects for funding in 18 states with a potential irrigation of 76 lakh hectares. The bank, however, has disbursed Rs 5,200 crore under the
According to the Central Water Commission, which monitors 91 major reservoirs in the country, the levels in key reservoirs are higher than a year ago.