Early snowstorm influences Kashmir’s fruit industry

Snow in Kashmir has hit the fruit and horticulture enterprise, with the Valley’s top trade frame pegging the damage at Rs 500 crore. The snowfall, which started on Saturday, has damaged fruit crop in numerous components of the Valley, with fruit institutions saying that round 20 percentage of the crops was unharvested.

“After receiving the preliminary inputs from the districts, we believe that loss to the enterprise is over Rs 500 crores the exact details will be acknowledged after a proper assessment,” Sheikh Aashiq Ahmad, president of the Kashmir Chamber of Commerce and Industry (KCCI), advised The Indian Express.

Authorities have stated they are within the manner of assessing the damage to apple orchards. Horticulture Kashmir director Manzoor Ahmad Quadri informed The Indian Express that the technique is on. “This is actually that snowstorm has prompted harm to the orchards. But how a good deal…we are gathering reports from the ground. It may take one week (to get the whole info),” he stated.

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On Monday, Sheri-e-Kashmir University of Agricultural Sciences and Technology issued an advisory for the orchards stricken by the blizzard, detailing steps for farmers “to defend the produce from damage”.

Meanwhile, the KCCI issued an announcement on Monday, questioning why the Pradhan Mantri Faisal Bima Yojana (PMFBY) – the Central authorities crop insurance scheme – hasn’t been carried out within the Valley to date.

“The KCCI is glad to research that the Crop Insurance Scheme is operational in Jammu province given that Kharif 2017, however at the identical time anguished that being greater vulnerable to the vagaries of nature, Kashmir stands ignored on this regard,” the statement said.

The Kashmir Valley Fruit Growers cum Dealers Union (KVFG), an apex body of fruit institutions, stated the recent blizzard has destroyed “complete culmination crop and uprooted fruit plant in all fruit orchards inside the Valley”. This body too has demanded management must do not forget grant of compensation of the losses of hundreds of crores of rupees due to heavy blizzard.

“The blizzard has broken the apple bushes badly. For a fruit grower, it isn’t the loss this year simplest, however for coming years as well due to the fact bushes are badly damaged,” Basheer Ahmad Basheer, chairman of KVFG advised The Indian Express.

Market Overview

The vehicle condominium enterprise is a multi-billion dollar zone of the United States economy. The US phase of the enterprise averages about $18.Five billion in revenue a year. Today, there are approximately 1.9 million condo automobiles that carrier the United States phase of the marketplace. In addition, there are numerous condo agencies besides the industry leaders that subdivide the whole sales, specifically Dollar Thrifty, Budget, and Vanguard. Unlike different mature carrier industries, the condominium car industry is incredibly consolidated which obviously places capability newcomers at a fee-downside due to the fact that they face high enter expenses with a reduced opportunity of economies of scale. Moreover, the maximum of the profit is generated by means of a few companies together with Enterprise, Hertz, and Avis. For the fiscal 12 months of 2004, Enterprise generated $7.4 billion in total sales. Hertz came in the 2nd role with approximately $five.2 billion and Avis with $2.97 in sales.

Level of Integration

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The rental vehicle enterprise faces totally unique surroundings than it did five years ago. According to Business Travel News, vehicles are being rented until they have got accumulated 20,000 to 30,000 miles till they’re relegated to the used vehicle industry while the turn-round mileage was 12,000 to 15,000 miles five years in the past. Because of gradual industry boom and slim earnings margin, there’s no approaching threat to backward integration within the industry. In fact, a few of the industry gamers most effective Hertz is vertically integrated via Ford.

Scope of Competition

There are many elements that shape the competitive panorama of the auto condominium enterprise. Competition comes from two main resources throughout the chain. On the holiday purchaser’s cease of the spectrum, competition is fierce no longer most effective because the market is saturated and well guarded through enterprise leader Enterprise, but competition perform at a fee disadvantage along with smaller market stocks due to the fact that Enterprise has installed a community of sellers over ninety percentage the enjoyment section. On the corporate phase, alternatively, competition could be very strong at the airports seeing that that segment is below tight supervision by Hertz. Because the industry underwent a large financial downfall in current years, it has upgraded the scale of competition inside most of the businesses that survived. Competitively speaking, the rental vehicle enterprise is a war-region as maximum condominium groups such as Enterprise, Hertz and Avis a number of the principal players have interaction in a conflict of the fittest.

Growth

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Over the beyond five years, most companies had been running toward enhancing their fleet sizes and growing the level of profitability. Enterprise presently the employer with the biggest fleet inside the US has brought seventy-five,000 motors to its fleet for the reason that 2002 which help boom its number of centers to a hundred and seventy on the airports. Hertz, alternatively, has introduced 25,000 vehicles and broadened its worldwide presence in a hundred and fifty counties as opposed to a hundred and forty in 2002. In addition, Avis has elevated its fleet from 210,000 in 2002 to 220,000 no matter recent monetary adversities. Over the years following the economic downturn, although most companies for the duration of the industry had been suffering, Enterprise many of the industry leaders had been growing gradually. For instance, annual income reached $6.3 in 2001, $6.5 in 2002, $6.Nine in 2003 and $7.4 billion in 2004 which translated into a boom price of seven.2 percent a yr for the past 4 years. Since 2002, the enterprise has started out to regain its footing within the region as universal income grew from $17.9 billion to $18.2 billion in 2003. According to enterprise analysts, the higher days of the rental automobile enterprise have not begun to return. Over the course of the following several years, the enterprise is expected to revel in expanded boom worth $20.89 billion every year following 2008 “which equates to a CAGR of 2.7 % [increase] within the 2003-2008 duration.”