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Sunday,24-October-2021

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Lakshadweep turns to seaweed farming to facilitate development

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seaweed-farming

After fisheries, coconut and tourism, the Lakshadweep administration has prioritised seaweed farming as the next major development driver of the islands.

A demonstration farming of seaweed was launched in nine inhabited islands of Lakshadweep with the technical support of the Indian Council of Agricultural Research (ICAR) and the Kochi headquartered Central Marine Fisheries Research Institute (CMFRI).

The large-scale initiative is in line with a CMFRI study that revealed immense potential for production of quality seaweeds in serene and pollution-free lagoons of Lakshadweep for high-end utilisation like the pharmaceuticals, food and nutraceuticals.

The indigenous red algae, Gracilaria edulis and Acanthophora spicifera are the species being farmed in nearly 2,500 bamboo rafts benefitting 100 families belonging to 10 women self-help groups in different islands.

CMFRI scientist K. Mohammed Koya said the island is known for its unique tuna fisheries and myriads of beautiful corals, reef fishes and other creatures.

“Now the marine sphere of the islands are more likely to be known as the seaweed farming hub of India soon,” Koya added.

Recent studies by the CMFRI revealed an unprecedented growth performance of indigenous seaweed species in various lagoons of Lakshadweep with nearly 60-fold growth in 45 days for the species Gracilaria edulis.

Following the early success, the Lakshadweep administration joined hands with the CMFRI for multi-locational trial farming and capacity building of stakeholders.

Thus, experimental-scale trial farming was conducted in the islands of Kiltan, Chetlah Kadmath, Agatti and Kavaratti during 2020-21 with promising results.

“The studies revealed that the island territory has a potential of producing nearly 30,000 ton of dry seaweed per year worth Rs 75 crore by farming only 1 per cent (200 hectare) of its 21,290 hectare lagoon area (inhabited islands only) at the rate of a modest 150 ton per hectare”, Koya added.

Terming it as a climate-smart initiative, he further said, “The sea being the major sink of carbon and the seaweeds well-known for its carbon sequestration properties, the farming of seaweed at such a scale would sequester nearly 6500t carbon dioxide per day adding a huge carbon credit to the nation while providing a climate-resilient livelihood to the islanders,” said CMFRI scientist.

Providing a sound scientific basis for a sustainable seaweed farming enterprise, the CMFRI and the Lakshadweep Krishi Vigyan Kendra of the CMFRI is conducting further studies for assessing the carrying capacity of the lagoons, spatial mapping of suitable farming sites, standardising farming methods for year-round farming in deeper areas and means to ensure quality seeding materials of indigenous seaweed species jointly with the Lakshadweep administration.

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Business

No increase in fuel prices for 2nd consecutive day on Tuesday

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Petrol

 Petrol and diesel prices remained unchanged for the second consecutive on Tuesday providing relief to consumers who have been facing a regular increase in fuel prices in the past few months taking the retail rates to historic high levels.

With no revision, the price of petrol in Delhi remained Rs 105.84 a litre and Rs 111.77 per litre in Mumbai, according to a price notification of state-owned fuel retailers. In Mumbai, diesel rates also remained static at Rs 102.52 a litre; while in Delhi it costs Rs 94.57, the same as on Sunday.

The price pause comes after the rates rose for four straight days when the rates of both petrol and diesel rose by Rs 1.40 paise per litre. There was no change in the rates also on October 12 and 13.

Diesel prices have increased on 19 out of the last 25 days taking up its retail price by Rs 5.95 per litre in Delhi.

With diesel prices rising sharply, the fuel is now available at over Rs 100 a litre in several parts of the country. This dubious distinction was earlier available to petrol that had crossed Rs 100 a litre-mark across the country a few months earlier.

Petrol prices had maintained stability since September 5, but oil companies finally raised the pump prices last week. Petrol prices have also risen on 16 of the previous 21 days taking up the pump price by Rs 4.65 per litre.

Crude prices have been on a surge rising over a three-year high level of over $ 85.7 a barrel now. It has softened a bit, falling below $ 85 a barrel now. Since September 5, when both petrol and diesel prices were revised, the price of petrol and diesel in the international market is higher by around $9-10 per barrel as compared to the average prices during August.

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Business

Markets open on a positive note

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Bombay-Stock-Exchange

 The 30-scrip Sensitive Index (Sensex) on Tuesday opened on a positive note during the morning trade.

The Sensex of the BSE opened at 62,156.48 points and touched a high of 62,159.29 points. The Sensex touched a low of 61,964.41 points.

On Monday, the Sensex closed at 61,765.59 points.

The Sensex is trading at 62,061.59 points, up by 296.00 points or 0.48 per cent.

On the other hand, the broader 50-scrip Nifty at National Stock Exchange (NSE) opened at lower note at 18,602.35 points after closing at 18,477.05 points.

The Nifty is trading at 18,549.55 points in the morning.

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Business

Petrol, diesel prices rise again, burn bigger holes in consumers’ pockets

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Petrol

 Petrol and diesel price rose again on Friday taking its retail rates to record high levels across the country affecting consumers this festive season.

Accordingly, in the national capital, petrol and diesel prices increased by 35 paisa per litre to Rs 105.14 per litre and Rs 93.87 per litre, respectively.

In India’s financial capital of Mumbai, petrol became costlier by 34 paisa per litre to Rs 111.09 a litre on Friday, the highest across all the four metro cities. Diesel also costs Rs 101.77 for one litre in Mumbai.

The price hike on Friday is for a second consecutive day after the rates remained static on Tuesday and Wednesday.

Diesel prices now have increased on 17 out of the last 21 days taking up its retail price by Rs 5.25 per litre in Delhi.

With diesel price rising sharply, the fuel is now available at over Rs 100 a litre in several parts of the country. This dubious distinction was earlier available to petrol that had crossed Rs 100 a litre mark across the country a few months earlier.

Petrol prices had maintained stability since September 5 but oil companies finally raised its pump prices last week and this week given a spurt in the product prices lately. Petrol prices have also risen on 14 of the previous 17 days taking up its pump price by Rs 3.95 per litre.

OMCs had preferred to maintain their watch prices on global oil situation before making any revision in prices. This is the reason why petrol prices were not revised for last three weeks. But extreme volatility in global oil price movement has now pushed OMCs to effect the increase.

Crude price has been on a surge rising over three year high level of over $84.5 a barrel now. Since September 5 when both petrol and diesel prices were revised, the price of petrol and diesel in the international market is higher by around $9-10 per barrel as compared to average prices during August.

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