Commodity News
HeadLine : September rains damage 12% of kharif crops in Maharashtra
Date : Oct 1 2021
Heavy rains caused by Cyclone Gulab in Telangana, Maharashtra, Gujarat, Madhya Pradesh and Chhattisgarh have damaged standing crops of soyabean, cotton, onion and urad at many places, at a time when the country has been looking forward to the new crop to tame commodity inflation. Unprecedented rainfall in Marathwada has submerged the soya bean crop. The India Meteorological Department (IMD) has predicted formation of Cyclone Shaheen along the Gujarat coast in the next 48 hours, which would continue to pour water along the western coast. After a year of high commodity prices led by edible oils and pulses, the government, consumers and farmers were looking forward to a good kharif harvest. However, the delayed stay of monsoon may not only increase concerns about commodity prices, but also dampen rural spending as rain-damaged crops will reduce the earning of farmers. The water-logged fields are now waiting for the return of sunshine, but the IMD has cautioned that rainfall may continue till mid-October. About 1.9 million farmers have sent intimations for insurance claims under the Pradhan Mantri Fasal Bima Yojana this kharif season and the number could go up to 2.5 million due to the ongoing spell of rainfall, he said. Of the 14.5 million hectares sown under kharif crops in Maharashtra, soya bean covers 32%, or 4.6 million hectares. The price of soya beans had hit aall-time high in August. Soyabean Processors’ Association of India president Davish Jain is, however, optimistic. “The situation does not look alarming as of now. Sunshine is needed for maturing of the crop, for the harvest operations and for sun-drying of the harvested crop,” he said. For cotton, which is in the flowering stage, excess rainfall in Maharashtra, Gujarat and Telangana could affect yield, Gandhi added. Apart from the crop production and price concerns, industry and traders are also worried that the subdued returns for farmers may put a cap on the high hopes of festival season sales

Source: Economic Times

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