Wheat procurement by end April

LAHORE (APP): Wheat procurement drive 2015-16 will start from the last week of the current month. Punjab Food department sources told APP on Tuesday that the government has decided to procure wheat with the record amount of Rs 130 billion during the current year to strengthen the financial position of small farmers. The Punjab government has made necessary arrangements to facilitate the small wheat growers during wheat procurement across the province, sources said. Sources further said that a method has been evolved to make payment in transparent manner to the farmers of their commodity. The problems of the farmers would be resolved through citizen feedback system and 376 wheat procurement centres have been established across the province.

Eight empty bags on per acre of land would be provided to farmers in transparent way besides payment of Rs 7.5 per bag as the delivery charges to the farmers.

Weather advisory for farmers

LAHORE (APP): Pakistan Meteorological Department has advised the farmers to harvest wheat crop keeping in view weather information in mind and stop irrigating the crop during this week as wheat crop is growing at Wax/full maturity stages. A spokesman of the department said that mainly hot and dry weather is expected in most parts of the Punjab however light to moderate rainfall is expected in some parts of the South Punjab during April 22 to 30. “Farmers are advised to control further weeds growth at the present growing stages to stop any negative impact over the crops. Weeds removing practices should be started soon after expected rains in the mentioned areas”, he added.

He advised that farmers of Southern Punjab & Sindh should prepare land for cotton in time so that best grains conditions may be fully utilized during the whole crop life.

Oil retreats as high supply weighs

LONDON (AFP): Oil prices eased on Tuesday as a climate of high crude supplies offsets moves by China to boost the world’s second largest economy and biggest consumer of energy. Brent North Sea crude for delivery in June fell 65 cents to stand at $62.80 a barrel in London midday deals. US benchmark West Texas Intermediate for May delivery dipped 23 cents to $56.15 a barrel compared with Monday’s close. “The oil market is being pushed in two directions with the stimulus action by China going against the oversupply situation of crude in the US,” Michael McCarthy told AFP. China on Sunday cut by one percentage point the amount of cash lenders must keep in reserve, the second reduction this year and the latest easing measure aimed at kickstarting the world’s number-two economy after the US.

It has also cut interest rates twice since November.

Despite prices being lifted slightly on hopes that the Chinese stimulus will spur demand, McCarthy said dealers remained concerned over surging US production.

This is despite reports last week indicating that US shale oil output may be on the cusp of easing, he said.

“We expect the US stockpiles report (on Wednesday) to reflect an increase by three to four million barrels of production this week, a rebound from last week’s modest numbers,” McCarthy said.

The Department of Energy last week said US oil production fell by 20,000 barrels to 9.38 million barrels per day, in the week ending April 10.

Analysts said that decline should help ease the global crude oversupply, which led to a collapse in prices of more than 50 percent between June and January.

Iranians unveil tomato-potato plant

ISLAMABAD (APP): For the first time, a plant producing both tomatoes and potatoes has been developed by researchers of Bushehr province in southern Iran. Created by a technique known as grafting, the plant was not genetically modified. The upper part of the graft produces tomatoes, while the lower section or root system produces potatoes, Iran Daily reported. The resulting tomatoes and potatoes taste good and are healthy. It was very difficult to make the graft work because the tomato stem and the potato stem had to be of the same thickness. Many people don’t have much space in their gardens and this sort of product would appeal them.

PARC’s moot on 23rd

ISLAMABAD (INP): Two-day moot on ‘Fruit and Vegetable Promotion’, comprising two separate conferences, will be held in Karachi and Hyderabad on Thursday April 23 and Friday April 24 respectively, aiming at promotion of agriculture production and exports. Federal Minister for NFS&R Sikandar Hayat Khan Bosan is scheduled to preside over both the conferences while among others, Secretary NFS&R, Seerat Asghar, Chairman Pakistan Agricultural Research Council (PARC) will attend proceedings of the two day moot. Both the events have been organisd by the Department of Plant Protection (DPP) PARC in collaboration with All Pakistan Fruit and Vegetable Exporters, Importers and Merchants Association and will be coordinated by Directorate of Public Relations and Protocol, PARC.

According to details, the conference on the theme of “Fruits and Vegetable Promotion” will be held in Karachi with an aim to help promote production and export of the commodities and sensitise the participants about the investment potential in these particular sectors.

This conference will be followed by Mango Awareness Seminar and Tissue Culture Banana distribution ceremony scheduled on Friday April 24 at Hyderabad.