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Govt imposes stock limit on bulk sugar consumers
The government today imposed stock limit on bulk sugar consumers, allowing them to keep quantities sufficient for only 15 days of their consumption at any point of time. The stock limit would be in force for six months and would be applicable to consumers whose monthly sugar consumption is at least one tonne, the government said in a statement. The move will affect confectioneries, large biscuit and beverage producing units.

HCL Tech may close 5 deals in M&E space by year-end
Delhi-based HCL Technologies expects to sign around five deals in the media and entertainment (M&E) space. Talks are on with four global companies and one Indian firm, and HCL plans to close these deals by the end of this year. Most deals will be in the range between $50 million and $200 million (Rs 240-950 crore).

News of the day

Web addresses to speak all languages
The Internet Corporation for Assigned Names and Numbers, or Icann, has set the ball rolling for web addresses in scripts other than Latin. This will allow uniform resource locators (URLs), as web addresses are called in virtual parlance, in languages other than English, including Hindi, Tamil or Bhojpuri.
International Business

India loses crops of Rs 50,000 cr to poor post-harvest handling

India is losing food items worth a whopping Rs 50,000 crore every year due to poor post-harvest handling of farm produce, a development that analysts say may jeopardise the Centre"s plan to formulate a food security law, especially in view of a "below-normal" monsoon. - JD-U, SP accuse govt of allowing rice exports during drought - Rice crop may be hit due to weak monsoon: Pawar - Create Rs 7,500 cr fund to upgrade non-veg processing: Assocham - Questions on the monsoon - Sensex slides 128 points on monsoon concerns - Agri Ministry advising farmers on sowing to counter poor monsoon "The level of wastage of agricultural food items is estimated to be about Rs 50,000 crore (a year), occurring at various stages of handling after harvesting," Food Processing Minister Subodh Kant Sahai said in a written reply in the Rajya Sabha today. The minister blamed "fragmented farming, provisions in the Agricultural Produce Marketing (Development & Regulation) Act, lack of cold chain facilities, transportation, proper storage and processing facilities" for the losses. Commodity analysts apprehend that the huge crop losses can jeopardise the Centre"s plan to enact a food security law, especially at a time when poor monsoon has raised concerns on lower farm production. "The huge losses of crops (in post-harvest handling) in times of poor monsoon may affect plans to build a food security law. The government needs to take urgent steps to plug loopholes in different areas, including losses at warehouses," commodity brokerage Karvy Comptrade Research Head Aurobindo Prasad said.


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