Commodity News
HeadLine : Kharif output seen at record 150.5 m t
Date : Sep 22 2021
Higher production of cotton, sugarcane, and jute and mesta is also seen, according to the Agriculture Ministry’s First Advance Estimate. This is despite the monsoon playing truant in many parts of the country. Pulses output is seen marginally higher at 9.45 m t (8.69 m t, per the Fourth Advance Estimate last year) led by increased production of tur and urad. Farmers had expanded the area under tur and urad and the government had increased the MSP by Rs.300 each for the two pulses. Oilseeds output is also expected to be down a tad at 23.38 mt as groundnut and soyabean production was affected by the patchy rains in the key producing States of Gujarat and Madhya Pradesh, respectively. Groundnut production is seen lower at 8.25 mt (8.56 mt), while the soyabean output is estimated at 12.72 m t (12.89 mt). Factoring in the trend on oilseed and pulses acreage, the government recently tweaked the import policy for edible oils and pulses to keep inflation under check and ensure enough supplies during the festival season. While the import duty was cut on edible oils, the trade was given more time, till January 31, 2022, to bring pulses into the country. The government estimates better yields to push up cotton output by 2.34 per cent to 36.21 million bales of 170 kg each despite a 6 per cent decline in the area. The production of sugarcane and jute is also pegged higher. The seasonal deficit in monsoon till date is pegged at 3 per cent below normal at 810.6 mm. While a delayed withdrawal of the monsoon could pose a challenge to kharif harvest, it can brighten the prospects for the rabi crop. 

Source: Business Line
News Archives: