Business Daily from THE HINDU group of publications
Sunday, Mar 18, 2007
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Business Daily from THE HINDU group of publications Sunday, Mar 18, 2007 ePaper |
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Horticulture/Fruits & Vegetables Agri-Biz & Commodities - Climate & Weather Potato output may be lower due to rains in North Suresh P. Iyengar
Mumbai March 17 Just like last year, potatoes have turned hot again this March. The recent spell of rains in the North has caused some damage to the crops. Reports of damage vary between three and eight lakh tonnes. Trade estimates had forecast a bumper output of 26-28 million tonnes (mt) against 25 mt last year. Farmers in Delhi, Uttar Pradesh and Madhya Pradesh have been hit. A precise estimate of the crop is not available and it could take a week before a correct picture is made available. However, the quality of the crop could be affected. Potato Agra futures on MCX for April delivery rose to a high of Rs 691 per quintal on March 13 from Rs 452 per quintal on January 19. Future prices fell to Rs 632 per quintal on Friday. In Delhi spot markets, prices have risen from Rs 494 per quintal on February 20 to Rs 607 per quintal on Friday, a jump of Rs 113 per quintal. Total potato sown area in 2006-07 went up by 10-15 per cent to 18-20 lakh hectare compared with 15 lakh hectare during the corresponding period last year.
Acreage up
According to the Directorate of Agriculture, potato grown area in Uttar Pradesh, the largest potato producer, was 4.7 lakh hectares this year against 4.45 lakh hectares last year. In West Bengal, it was 4.2 lakh hectares compared with 3.1 lakh hectares and, in Bihar, 3.23 lakh hectares against 3.08 lakh hectares. "The cloudy weather is clearing at last. The fact that the demand-supply may just match even after the damage has eased concerns. "Futures prices are set to correct lower to Rs 600-Rs 580 per quintal in couple of weeks," said Mr Harish Galipalli, head of research, Karvy Comtrade.
Related Stories: More Stories on : Horticulture/Fruits & Vegetables | Climate & Weather
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