Quantcast
Other Stories

India's foodgrain production is likely to lower compared to last year as the governments contingency plan drafted is set to cover only 16% of the sowing area under the normal kharif season.

27 Jul 2012

NEW DELHI (Commodity Online): India's foodgrain production is likely to lower compared to last year as the governments contingency plan drafted is set to cover only 16% of the sowing area under the normal kharif season.

India's food grain production for 2012-13 is estimated lower than last year to 250 million tons and with the deficiency in rainfall for the current kharif season, the food grain production is almost sure to be lower than previous year.

According to Indian Meteorological Department (IMD), India so far has experienced 22% below normal rainfall for current monsoon season.

With the drafted plan, India proposes to cover 17.55 million hectares of sowing area in case the rainfall deficiency continues, compared to a total of 109.7 million hectares last year covered in various rainfed agri crops.

This drop in production could trigger price rise in the domestic commodity market. Presently, the price various agricultural commodities are surging due to fear of lower production estimates and rising demand (especially Chana, soybean, wheat, sugar and spices among other).


YOUR RESPONSE
Click on the image to reload it
Click to reload image
COMMENTS (0)

@2013 COMMODITYONLINE ALL RIGHTS RESERVED