With the total area under wheat dropping by about three lakh hectares this year in Rajasthan due to low availability of water, marketmen expect a marked increase in the price of (wheat) compared to the previous year. Wheat output in the major crop growing areas in Rajasthan, which ranks 5th in the country, is also likely to decline to around 64 lakh tonnes as against 67.20 lakh tonnes last year. The new crop is expected to hit the mandies in the state early next month and the traders have built up positions to corner larger quantities in the hope of making a killing once the season is over.

Biotech can improve yields

The undue popularity given to terminator genes of multinational corporations has shrouded the real worth, relevance and applications of biotechnology in a developing, agrarian economy like India. Biotechnology need not be construed as genetic adventures to make profits and to gain control over seeds, plants or their derivatives. It hastremendous potential to transform farm methodologies, to generate a multitude of helpful biological products and to create gainful employment especially for women and the under priveleged.

Cardamom auctions unlikely after April

With the supply of fresh cardamom drying up and nothing much left in the old stocks, cardamom planters and traders in Kerala and Tamil Nadu centres feel that there will be no auctions beyond April. Even in the second half of next month, regular auctions are unlikely, say auctioneers in Kerala's Kumali and Vandanmedu areas. "We are pretty certain that there will not be enough cardamom for auctions after April," said sources in the trade. The signs of this are already here with the Spices Trading Corporation and the Kerala Cardamom Producing and Marketing Corporation cancelling auctions slated for last week.

Tea output may suffer

The weather gods have been harsh this time on the tea industry. With a marked absence of rains and near-drought conditions in Assam andWest Bengal in the months of February and March, the tea industry, one of the largest industries in the region is facing difficult times.

Ginger exports down

Exports of ginger have dipped drastically in the current financial year as a result of a steep fall in arrivals. According to sources in the Spices Board, the ginger production has fallen by 40 per cent this year. Ginger exports in 1997-98 amounted to 27,274 tonnes valued at Rs 68.18 crore while in 1998-99, only 9300 tonnes were exported at Rs 39.40 crore.

Ahmedabad bullion hit

Ahmedabad, the bullion city of Gujarat, is likely to lose some of it's market share in gold following Maharastra government's decision to slash sales tax on precious metals. In the recent state budget for the current fiscal, the Maharahtra government proposed to reduce sales tax on the precious metal to 1.5 per cent from the earlier two per cent levels. The decision came in the wake of long standing demand from bullion traders.

Plastics export unlikelyto hit target

Exports of plastic and allied products in the country are unlikely to meet the target of $720 million set for the current fiscal, if the export figures till December 1998 are any indication. According to Plastics Exports Promotion Council, there has been a decline of 12.28 per cent during the nine-month period ending December 1998, compared to the same period of previous year. India has exported plastic and allied products worth $338.50 million against the previous years $385.89 million.

PVC demand growth seen at 14%

The PVC demand in the country is expected to grow at 14 per cent in the next four years till 2001-02. The low per capita consumption coupled with increased awareness on the benefits of using PVC and significant growth expected in the user industries should ensure consistent growth in demand over the next few years. The year 1998-99 is expected to end with a PVC consumption of 6.8 lakh tonnes compared to 5.8 lakh tonnes in the previous year which would result in agrowth of around 17 per cent.

Cotton futures down in parallel trading

Parallel trading in cotton futures suffereda major setback in Surendranagar with bears constantly hammering down prices and liquidating their long positions. Cotton future was quoted at Rs 372 per maund. Seed futures also tumbled to a contract low of Rs 151 per 20 kg, traders said. The bears have issued delivery orders which have caused panic among bulls. It may be recalled as per the tender norms, sellers have the right to issue tender and bulls have to take delivery of goods.

Jute exports may cross Rs 800cr mark

In a reversal of trend, jute exports, in the coming fiscal, is poised for a Rs 440-crore jump. According to estimates made by the Jute Manufacturers Development Council (JMDC), exports will touch Rs 835 crores in 1999-2000 as against Rs 395 crores in 1997-98. The figures are expected to cross the Rs 1,100-crore mark in the year 2000-2001.

Yarn makers fear units' closure

Manufacturers of blendedyarn are dismayed over the paltry reduction in basic excise duty on their production from 18 per cent to 16 per cent and fear that some more units may roll down their shutters in the coming months.

Commodities markets closed today

All major wholesale commodity markets including the Bombay Stock Exchange (BSE) and National Stock Exchange will remain closed today on account of Bakri-Id and Mahavir Jayanti.

Cotton marketing yards' problem

Some of the marketing yards in Saurashtra, Gujarat, are reported to be nearly overflowing with cotton with the daily arrivals far exceeding the offtake. While in other parts of the country cultivators seem to be worried whether they will be able to sell their entire produce before the onset of monsoon at reasonable prices. The crop in Gujarat, which was earlier estimated at 45 lakh bales, is now projected between 47 and 50 lakh bales of 170 kg each. On the other hand textile mills are said to be purchasing on a hand-to-mouth basis in view of the subdueddemand for their yarn as well as fabrics.