Sugarcane growers intensify protest in Belagavi, demand Rs 3,500 per tonne MSP; BJP extends support
Belagavi (PTI): The sugarcane growers’ protest in Belagavi district demanding a minimum support price of Rs 3,500 per ton for their produce has gathered momentum.
Farmers, under the banner of the Hasiru Sene Farmers Association, have rejected the Rs 3,200 per ton offer from sugar mills. The agitation has brought operations to a halt at 26 sugar factories across the region, with protesters vowing not to settle for anything less than their demand.
All the business establishments in Mudalagi remained shut as farmers gathered in huge numbers.
The protests, which initially began with the demands for State Advisory Price (SAP) for sugarcane, have now spread to Athani, Chikkodi, Hukkeri, Bailhongal, Mudalagi, Gokak and neighbouring areas.
In Gokak town, the agitation took a new turn as students joined farmers in staging roadblocks at key intersections, throwing traffic out of gear on major routes connecting Belagavi, Savadatti, Mudalagi and Yaragatti.
Protesting farmers have urged the state government to adopt the Maharashtra sugar payment model, which they say ensures structured and timely payments for cane growers.
Meanwhile, BJP state president B Y Vijayendra visited the protest site, extending his party’s support to the farmers.
Vijayendra appealed to the Congress government in the state to heed the 'legitimate demands' of the sugarcane growers.
Farmers in Gurlapur village in Belagavi district have been staging protests for the past several days, demanding that the state government announce the State Advisory Price (SAP) for sugarcane.
"Today, the sugarcane growers and farmers are protesting on the streets due to the Congress government's indifferent attitude. We are compelled to hit the road and support their agitation. This is the reason that I have come here," the Shikaripura MLA told reporters here.
According to him, the state government makes a profit of Rs 56,000 crore from the six million tonnes of sugar produced from sugarcane. Apart from sugar, the state also earns from its byproducts such as molasses, ethanol and biogas.
"If the state earns Rs 56,000 crore, then the state government has some duty. If it is not coming forward to listen to the woes of the people, this shows how much concerned this Congress government is about the farmers and sugarcane growers. This is what the farmers are questioning."
Asked if it was shameful that the dispute remains unresolved despite big politicians owning sugar factories and having the ability to fix it quickly, Vijayendra said, "We all know who owns sugarcane factories. Today, I am here not only as the BJP state president or Shikaripura MLA, but also as the son of former Chief Minister and farmer leader B S Yediyurappa. It is my duty to come to take part in the agitation by farmers."
The BJP state chief insisted that the government should speak to the sugar factory owners. ROH
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Rupee hits record low of 96.14/USD, settles at fresh closing low of 95.86/USD
Mumbai (PTI): The Indian rupee crashed below the 96/USD mark on Friday before closing at an all-time low of 95.86 (provisional) against the US dollar as elevated crude oil prices and inflation concerns added to the downside pressure on the rupee.
Rupee has registered over 6 per cent losses so far this year, and in the past six trading sessions, it has depreciated nearly 2 per cent as Iran war risk escalation pushed crude oil prices higher. The dollar index moved northwards after strong US retail sales and stable labour market data reduced expectations of aggressive Federal Reserve rate cuts.
Forex traders said global uncertainties, relatively high valuations, and the lack of AI-led investment opportunities have weighed on capital flows.
Moreover, weak net FDI inflows are likely to exert pressure on the balance of payments, while rising crude oil prices stoke inflation worries.
At the interbank foreign exchange, the rupee opened at 95.86, then slumped to a record low of 96.14 in intraday trade, registering a fall of 50 paise from its previous close.
The USD/INR pair finally settled at 95.86 (provisional) against the US dollar, registering a fall of 22 paise from its previous close, helped by likely RBI intervention.
On Thursday, the rupee weakened to a fresh record low of 95.96 before closing with a marginal gain of 2 paise at 95.64 against the US dollar.
Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was trading at 99.15, higher by 0.34 per cent.
Brent crude, the global oil benchmark, was trading up 3.14 per cent at USD 109.04 per barrel in futures trade.
On the domestic equity market front, Sensex fell 160.73 points to settle at 75,237.99, while Nifty declined 46.10 points to 23,643.50.
Foreign Institutional Investors turned net buyers, purchasing equities worth Rs 187.46 crore on Thursday, according to exchange data.
Meanwhile, the country's exports in April rose by 13.78 per cent to USD 43.56 billion despite global challenges, Commerce Secretary Rajesh Agrawal said on Friday.
Imports grew 10 per cent year-on-year to USD 71.94 billion in April. The trade deficit during the month stood at USD 28.38 billion.
"We expect the rupee to trade with a negative bias on elevated crude oil prices and inflation concerns. Strong dollar and FII outflows may also weigh on the rupee. However, any intervention by the RBI and hiking of import duty on gold and silver may support the rupee at lower levels. USD-INR spot price is expected to trade in a range of 95.60 to 96.20," said Anuj Choudhary, Research analyst at Mirae Asset ShareKhan.
Chinese President Xi Jinping and his US counterpart Donald Trump on Friday hailed their talks as "historic" and "landmark", as the American leader wrapped up his three-day visit on a high note, but no deals on any contentious issues were announced.
Both Presidents, who held several rounds of talks covering a range of global issues, including the Iran war and bilateral trade frictions, concluded their discussions with a private meeting at Zhongnanhai, the well-guarded compound in Beijing where top leaders reside.
