Agricultural Price Policy and Institutional Credit

4 mentions in the news, newest first.

• 2026-10-03

  Supreme Court invalidates IFCI's SARFAESI auction of Ooty resort over rule breaches

  The Supreme Court on 30 September 2026 set aside a Madras High Court judgment and invalidated IFCI Limited's SARFAESI auction of Sterling Holiday Resorts' Fernhill property in Ooty, holding that the sanctity courts give to confirmed auction sales presupposes compliance with the law and cannot protect a sale conducted in breach of mandatory procedure. A Bench of Justices Pamidighantam Sri Narasimha and Alok Aradhe found that IFCI had received a bid while a Debts Recovery Appellate Tribunal restraint order was in force, concluded the sale before the mandatory 30 day redemption notice period under the Security Interest (Enforcement) Rules, 2002 had run out, and issued the sale certificate to a partnership firm that did not exist on the date fixed for the auction. The Court allowed the borrower's appeals and dismissed the purchaser's, ruling that no sanctity in law attaches to an auction conducted in such defiance of the SARFAESI Act's safeguards.

• 2026-10-01

  Cabinet raises MSP for all six Rabi crops for the 2027-28 marketing season

  The Cabinet Committee on Economic Affairs approved higher Minimum Support Prices for all six mandated Rabi crops for the 2027-28 marketing season on 30 September 2026. Safflower received the highest absolute increase at Rs 675 per quintal, taking its MSP to Rs 7,215, followed by rapeseed and mustard at Rs 413 to Rs 6,613 and lentil at Rs 390 to Rs 7,390, while wheat received the smallest increase of Rs 25 per quintal, taking its MSP to Rs 2,610. The government said the new prices keep MSP at least 1.5 times the all India weighted average cost of production, with the margin over cost ranging from 50 percent for safflower to 106 percent for wheat.

• 2026-09-13

  Delhi Declaration endorses Russia backed plan for BRICS Grain Exchange and farmer network AGRIN

  The BRICS New Delhi Declaration backed continued work on a Russia championed BRICS Grain Exchange, a proposed digital platform first floated in 2023 to trade grain among member countries and eventually expand to other agricultural commodities, aiming to reduce reliance on grain trading platforms based in Europe and the United States. Leaders also agreed to establish the BRICS Agro Inputs, Genetic Resources and Information Network, a non binding and farmer centric platform for exchanging agricultural inputs and traditional knowledge, alongside a Global Forum on Farmers Rights in Seed Systems and a BRICS Network of Centres of Excellence on Agroecology and Regenerative Agriculture. The declaration also flagged food security and acute food price volatility, including fertiliser shortages, as priority concerns and called for stronger national food reserve systems and climate adaptive seed systems.

• 2026-08-26

  India calls for collective action to safeguard sea lanes at UN Security Council food security debate

  India's Permanent Representative to the United Nations, Ambassador Harish Parvathaneni, told a UN Security Council high level open debate titled Food Under Fire on 25 August 2026 that the international community must work collectively to safeguard critical sea lanes, since secure and predictable maritime trade routes are indispensable for the uninterrupted movement of food, fertilisers and fuel. He said the Security Council's immediate priority should be to mitigate the humanitarian consequences of conflict, including facilitating safe and unimpeded humanitarian access and ensuring that sanctions regimes do not inadvertently impede humanitarian assistance or legitimate food and agricultural trade. He added that disruptions to commercial shipping during conflicts can have cascading effects far beyond the immediate region, disproportionately affecting food importing developing countries and humanitarian operations.