The Economic Times

Indias BRICS chairship in 2026 comes as agricultural trade faces new challenges beyond tariffs, including climate shocks, food-price volatility, fertiliser supply disruptions, sustainability requirements and digital traceability standards. With BRICS now accounting for nearly half the worlds population, around 40% of global GDP and $1.17 trillion in intra-group trade, agriculture has become a strategic area for cooperation.

Guwahati Tea Auction Centre achieved record prices for quality tea. Deckiajuli Tea Estate sold premium CTC leaf at Rs 1,103 per kg. Sotai Tea Estate tea also reached a new high of Rs 889 per kg. Over 65,000 kg of tea sold above Rs 400 per kg. The Assam Government offers subsidies for orthodox tea.

Chana prices are rising despite a strong harvest and large buffer stocks. Government procurement is a key driver, absorbing a significant portion of the chana from the market. Lower imports of chana and yellow peas also contribute to the price increase. Traders anticipate prices will remain firm.

India's government is urging states to focus on pulses and oilseeds for the upcoming kharif sowing season. This directive comes amid predictions of below-normal monsoon rains and potential disruptions in fertilizer supplies. The aim is to boost domestic production and reduce reliance on imports. Efforts are underway to improve seed availability and farming techniques for these crucial crops.

India's edible oil imports increased in May, driven by a surge in soyoil purchases. Palm oil imports saw a slight rise but remained below average. Refiners favored soyoil as its price advantage over palm oil narrowed. Cooking gas shortages also impacted palm oil demand from bulk consumers. Overall edible oil imports reached 1.3 million tons.

Indias fertiliser supply chain is under strain as the West Asia conflict disrupts shipping through the Strait of Hormuz, a critical route for imports. The crisis comes just as India faces a below-normal monsoon forecast, with the IMD projecting rainfall at 90% of the long-term average and a 92% probability of El Nio conditions, raising concerns over crop output and food inflation.

StarAgri CEO Amith Agarwal advocates a bigger private-sector role in MSP procurement and storage to boost efficiency, warehousing capacity, and agri supply chains.

India has suspended its 11% import duty on cotton until October. This move has immediately reversed the recent rally in cotton prices, with both bales and yarn seeing a drop. Industry insiders expect further price decreases in the coming days. This decision aims to ease prices, prevent hoarding, and boost the competitiveness of Indian textile exports.

In anticipation of the upcoming sowing season, India is making strategic changes by reducing its fertilizer requirements due to forecasts of insufficient monsoon rainfall. This adjustment means lower demand for urea and DAP, while farmers are encouraged to minimize their reliance on chemical fertilizers, promoting better soil health.

The government has set a higher onion procurement price at Rs 15.80 per kg, a step designed to uplift farmers and regulate market rates effectively. Concurrently, the buffer stock of pulses has hit an impressive 43 lakh tonnes, stemming from robust local production that minimizes the need for foreign imports.

The agriculture industry has evolved historically through adaptation and resilience, and now it is time to speed up this transformation, empowering Indian fruit growers to be more enterprising to produce quality horticultural crops against mounting climatic aberrations.

India can boost nutrition security, cut import dependence, and build a global smart protein industry by scaling climate-resilient indigenous crops, say experts.

Maharashtra onion farmers are facing a severe financial crisis. They are urging the central government for a special Rs 10,000 crore revival package. Farmers have suffered significant losses due to export bans, price crashes, and natural calamities. The association seeks direct financial assistance and policy changes to support growers and the rural economy.

Rice production is estimated at a record 154.02 mt in the 2025-26 crop year, up from 150.18 mt a year earlier, according to the third advance estimates released by the agriculture ministry.

Northern India's blistering heatwaves are wreaking havoc on vital industries, significantly hampering the trade of Basmati rice and textile production in the Delhi-NCR region. Workers face unbearable temperatures, resulting in increased absenteeism and interruptions in manufacturing processes. Additionally, erratic power supply complicates timely export shipments.

Union agriculture minister Shivraj Singh Chouhan termed it the highest-ever foodgrain output in the country's history.

India's wheat output is set for a significant increase. Production is projected to reach 120.65 million tonnes in the 2025-26 crop year. This rise is expected despite some localized damage from unseasonal weather. Overall foodgrain production is also forecast to grow. The agriculture ministry confirms stable and resilient wheat production.

India's rice exports saw a slight dip in the first four months of 2026. Shipments of premium basmati rice to Gulf markets faced disruptions. This decline impacts Indian prices, which have already fallen. Non-basmati rice exports showed a small increase. Delays in transit due to the ongoing conflict are affecting new deals.

Bayer CropScience's profit surged 13% in the March quarter and 21% for the full fiscal year.

Gujarat Chief Minister Bhupendra Patel approved sugarcane prices paid by cooperative societies to farmers. This decision benefits over two lakh farmers and cooperative societies by an estimated Rs. 1,500 crore. The move addresses past Income Tax demands. A Union Ministry of Cooperation amendment in 2023 enabled this State Government approval strengthening the cooperative sector and farmer interests.

A sharp difference in day and nighttime temperatures in December and January hurt flowering and fruit setting, while hotter than usual weather in April and May, probably due to the El Nino weather phenomenon, then spoiled the fruits themselves, an official said.