EU wheat prices rise as US crop outlook dims
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- Created on Wednesday, 01 May 2013 08:42
- Written by Business Recorder
Wheat prices in western Europe rose on Tuesday, supported by concerns about the outlook for crops in the United States and Russia, although weak export demand helped to cap gains. On the benchmark Paris futures market, new-crop November milling wheat gained 3 euros or 1.75 percent at 213.75 euros a tonne by 1136 GMT. Old crop May was 4.00 euros higher at 252.25 euros. The weather in the United Sta
Significant increase in prices of most food items noted
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- Created on Sunday, 28 April 2013 16:17
- Written by Business Recorder
Significant increase was noted in the prices of most of the perishable and non-perishable food items last week as compared to the preceding week, reveals a survey conducted by Business Recorder here on Saturday. Traders in different markets of the twin cities of Rawalpindi/ Islamabad told Business Recorderthat prices of onion, tomatoes and chicken witnessed increase in the last week as compared to
Declare agriculture as industry: PARC
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- Created on Sunday, 28 April 2013 16:16
- Written by Business Recorder
Pakistan Agriculture Research Council (PARC) Chairman Dr Iftikhar Ahmad has stressed the need of declaring agriculture as an industry and enacting legislation on the pattern of Australia to promote mechanisation to meet the national food requirements. He was speaking at a seminar "making barren lands cultivable through mechanization". It was attended among others by agricultural experts and agri-s
Inland subsidy for export of sugar
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- Created on Sunday, 28 April 2013 16:16
- Written by Business Recorder
Pakistan Sugar Mills Association has strongly protested to the caretaker Prime Minister of non-release of subsidies to the Mills on exports equivalent to inland freights. In a letter to the PM the Association says. The ECC of the cabinet had approved inland subsidy @ Rs 1.75/kg to facilitate export of sugar on fast track basis to enable the sugar mills to off load their surplus inventories and pay
Wheat grain prices rise by Rs 100 per bag
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- Created on Sunday, 28 April 2013 16:15
- Written by Business Recorder
The prices of wheat grain rose by Rs 100 per 100-kg bag in the domestic market due to hasty buying of the commodity by market movers and exporters. Traders told Business Recorder on Friday that upward movement of wheat prices at the time of harvesting signals a serious commodity crisis in the country. Earlier, it was being expected that with the arrival of wheat crop, its prices will further decli
Wheat procurement: middlemen once again active in Punjab: AFP
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- Created on Sunday, 28 April 2013 16:14
- Written by Business Recorder
Agri Forum Pakistan Chairman Ibrahim Mughal has alleged that middle men are once again active in Punjab and buying wheat from the growers at the rate of Rs 1,060 per maund instead of Rs 1,200 per maund at 100 different places of the province owing slow wheat procurement drive by the Punjab Food Department and Pakistan Agricultural Storage and Services Corporation (Passco). Talking to media persons
Smeda suggests abolition of one percent WHT on gold
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- Created on Sunday, 28 April 2013 16:14
- Written by Business Recorder
Small and Medium Enterprise Development Authority (Smeda) has proposed the Federal Board of Revenue (FBR) to abolish one percent withholding tax on export of gold products and charge customs duty on the import of gold from ad-valoram to specific basis - 1 percent of value to Rs 15 per gram. Sources told Business Recorder here on Friday that the Smeda has submitted its budget proposals for 2013-14
DSIE Sector-III: PSM seeks Rs 1.8 billion advance loan from NIPs
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- Created on Sunday, 28 April 2013 16:10
- Written by Business Recorder
Pakistan Steel Mills (PSM), facing an unprecedented liquidity crunch, has sought an advance loan of Rs 1.8 billion from National Industrial Parks (NIPs) under the guise of PSM Downstream Industrial Estate DSIE, Sector-III, fearing that the Rs 20 billion announced bailout is not likely to materialise, sources in PSM told Business Recorder. Minister for Industries and Production, Shahzada Ahsan Afza