
MLA inaugurates tobacco purchase centres
He inaugurated the tobacco purchase centres at Market Yard in Martur and Adusumalli of Yaddanapudi mandal on Monday.
Speaking at the inaugural ceremonies, MLA Yeluri stated that CM Naidu was deeply moved by the farmers' plight and decided to intervene when private companies misled farmers about market demand and subsequently reduced purchase prices.
For the first time in the country's history, the government is directly purchasing burley tobacco, he announced. The MLA said that the state government has allocated Rs 273 crore for the procurement through Markfed, ensuring that farmers' crops are purchased even when private companies fail to honour their commitments.
He said that the initiative aims to protect farmers from exploitation by companies that previously encouraged excessive cultivation before reducing purchase quantities and prices. He advised the farmers to demand written agreements from companies before planting tobacco and suggested transitioning to alternative crops, noting that the government has announced a minimum support price of Rs 2,400 for maize with potential for further increases.
In the evening, MLA Yeluri met with the agriculture minister, Kinjarapu Atchannaidu, the special secretary of the agriculture department, Rajasekhar, and other officials at the Regional Agriculture Research Station in Lam.
After the meeting, the MLA said that they are prioritising farmers with production below 20 quintals for immediate purchase, followed by those with larger quantities. He announced that the government has assured the establishment of additional purchase centres and warehouses to expedite the procurement process.

Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles

Economic Times
25 minutes ago
- Economic Times
Allcargo Terminals to raise Rs 38.28 cr through issuance of 1.32 cr fully convertible warrants
Multimodal logistics operator Allcargo Terminals Ltd (ATL) on Tuesday said it plans to raise Rs 38.28 crore through the issuance of up to 1.32 crore fully convertible warrants to the promoters/promoter group. ADVERTISEMENT The proposed fundraise, which will kickstart ATL's three-year expansion plans, will be utilised for building capacity and setting up new container freight stations (CFS) and inland container depots (ICDs), the company said. An Allcargo group firm, ATL, specializes in CFS and ICD with pan-India presence, serving diverse logistical requirements at strategic locations such as JNPT, Mundra, Chennai, and Kolkata. "The Board of Directors of ATL has approved the preferential allotment in its meeting held on July 15, 2025," Allcargo Terminals said. "As India's logistics sector undergoes structural transformation, ATL is well positioned to scale up operational capacity while remaining capital-efficient and growth-focussed, creating sustainable value for all stakeholders," said Shashi Kiran Shetty, Founder and Chairman, Allcargo Group. Each warrant has a face value of Rs 2 per share, will be issued at an issue price of Rs 29 per warrant with a premium of Rs 27 per warrant, subject to shareholder and regulatory approvals, it stated. ADVERTISEMENT This issuance accounts for approximately 5 per cent of ATL's post-conversion equity share capital and is priced at around 1 per cent premium to the SEBI-defined floor price, as per the company. ATL said its current capacity stands at 8.3-lakh TEUs annually across seven facilities in five hubs that handle approximately 80 per cent of India's EXIM trade. ADVERTISEMENT ATL plans to augment its capacity to over 13-lakh in the coming three years -- by expanding some of its key facilities and by developing new CFS/ICD facilities, the company said. This strategic move is in line with ATL's long-term growth roadmap and will support the company's multi-location infrastructure expansion at Mundra and Nhava Sheva, Greenfield ICD at Farukhnagar and infra upgrades at existing facilities, ATL said. ADVERTISEMENT Currently operating at 80-85 per cent capacity utilisation, the expansion plans will enable the company to cater to future demand and consolidate its leading position in key logistics corridors, the company said. "This expansion comes at a time when our core facilities are operating near full capacity. The proposed expansion in Mundra and Nhava Sheva, greenfield ICD at Farukhnagar and infra upgrades at existing facilities are aligned to strengthen our multimodal footprint," said Suresh Kumar R, Managing Director, Allcargo Terminals Ltd.


New Indian Express
32 minutes ago
- New Indian Express
HDFC Life net profit jumps 14% to Rs 546 crore on investment gains
MUMBAI: HDFC Life has reported a 14% on-year jump in net profit at Rs 546 crore for the June quarter on higher margins which could offset the lower than expected premium collection in terms of annual premium equivalent (APE) which came in at Rs 3,225 crore. Another big boost came in from the massive spike in investment income for policyholders which printed in Rs 1,459 crore compared to just Rs 1.8 crore in the previous quarter (Q4FY25). Gross premium income for the quarter stood at Rs 1,487 crore of which first-year premia came in at Rs 760 crore, and Rs 472 crore from renewals of single premia, taking the total gross premium to over Rs 2,680 crore. Net premium income rose to Rs 1,446 crore. However, individual APE grew 12.5 and the retail APE came in at Rs 2,777 crore while the key business metric value of new business (VNB) stood at Rs 809 crore, up 12.7% and new business margin improved to 25.1%. Vibha Padalkar, the managing director, said Q1 began on a strong note, with healthy growth across topline, value of new business and steady margins. Individual APE grew by 12.5% on-year, translating into a robust two-year annualised growth of 21%. She said the company outperformed both the overall industry and the private sector, resulting in a 70 bps increase in market share at the overall level to 12.1%, a new milestone for it.


The Hindu
34 minutes ago
- The Hindu
Memorial for Mani Madhava Chakyar comes up at his birthplace in Kozhikode
Minister for Cultural Affairs Saji Cherian on Tuesday opened a cultural studies centre named after well-known Koodiyattam exponent Mani Madhava Chakyar at his birthplace in Arikkulam Grama Panchayat in Kozhikode district. Mr. Cherian said that Chakyar, a recipient of the Padma Shri, had made immense contributions to the cultural heritage of Kerala. It was the duty of the government to respect the memories of such great artistes, the Minister said. The centre has been built at Karayad near the Thiruvangayur Shiva Temple in Arikkulam Grama Panchayat. It was constructed on 10 cents of land donated by Chakyar's family. T.P. Ramakrishnan, MLA, sanctioned ₹75 lakh for the construction works from his local area development funds. The Panthalayini Block Panchayat allocated Rs. 3 lakh for the furniture there.