RBI taking hard look at agri commodities distribution

The RBI is seriously concerned about the ineffective and high-cost agri commodities distribution system as well as some of the features of APMC Act which is being utilised for cartelising and price distortion, said Governor Raghuram G. Rajan here on Thursday.He said the net result was high vegetable price inflation. The RBI Board here on Thursday took a hard look at the issues involved, Rajan added.

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Higher plantings in Madhya Pradesh, Uttar Pradesh boost wheat acreage

Wheat acreage has increased by about 40 lakh hectares (lh) so far this year to 253.75 lh on higher planting by farmers in Madhya Pradesh and Uttar Pradesh.The current sowing trend in rabi has raised expectations of the total acreage exceeding last year’s level of 298.3 lh.Wheat acreage, so far, is higher by 14.53 lh in Madhya Pradesh and by 12.65 lh in Uttar Pradesh over the same period a year ago.

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Agriculture spies target seed technology, feds say

The charge against Mo comes in a state that has pushed to increase trade with China. In October, trade agreements worth an estimated $1 billion were signed by companies from Iowa and China's Hebei Province.Mo allegedly stole inbred corn seeds from fields in Iowa and Illinois between September 2011 and October 2012 that represented several years worth of research, according to a criminal complaint. Inbred seeds are valuable because they pass on drought- and pest-resistant traits to planting seeds that will be grown and harvested.Mo, a Chinese citizen and permanent U.S. resident, faces up to 10 years in prison and a $5 million fine, officials said. He works for a company that's a part of DBN Group, a Chinese conglomerate with a corn seed company, Kings Nower Seed.Additional charges may be filed against the other men who helped Mo try to steal the seed technology, officials said.

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