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The country is set to witness a new record in foodgrain output this year on higher acreages aided by well spread and timely monsoon. The latest estimates released by the Agriculture Ministry point to a record foodgrain production of 263.20 million tonnes, an increase of 2.36 per cent over last year’s final output of 257.13 mt.
Higher soil moisture coupled with comfortable water levels in reservoirs had led to record planting of winter or rabi crops boosting record harvest prospects. The bumper foodgrain harvest is seen lifting farm sector growth rate to around 4.6 per cent this fiscal, more than double than last year’s 1.9 per cent.
The production of rice, wheat, maize and pulses, such as tur and gram, are likely to rise to a new record this year. Rice production is pegged at 106.19 million tonnes, while output of wheat – a key winter crop that has been planted on a record acreage of 31.53 million hectares – is projected to touch 95.60 mt.
Record output Besides raising prospects for higher exports, the record output is also expected to aid the softening trend in inflation. Wholesale inflation eased to an eight-month low of 5.05 per cent for January on decline in food prices, mainly vegetables. Retail inflation also touched a two-year low of 8.79 per cent in January.
The Government has forecast tur output to touch 3.34 mt, higher than last year’s 3.02 mt. Production of gram or chana is projected to hit a new high of 9.79 mt against the previous high of 8.83 mt. The output of urad is projected to decline about 16 per cent to 1.59 mt, over last year’s 1.90 mt, while that of moong is projected to reduce marginally to 1.28 mt against 1.19 mt.
Production of oilseeds – mainly groundnut is set to double to 9.14 mt over last year’s 4.69 mt. The output of rapeseed-mustard -- another key oilseed is also set to increase marginally to 8.25 mt over last year’s 8.20 mt. However, soyabean output has seen a decline to 12.44 mt against last year’s 14.66 mt, while castor seed production is also projected to decline to 1.64 mt against last year’s 1.96 mt.
The rising foodgrain output in the recent years has helped India emerge as the largest exporter of rice, while wheat shipments have also gained momentum. With the Government announcing incentive for raw sugar exports this week, shipments of the sweetener are also expected to gain momentum.
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