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India's Foodgrain Output Sees Slight Dip for 2023-24

5 Jun 2024 1:41 pm
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MUMBAI, 5 Jun (Commoditiescontrol): India's foodgrain output for the 2023-24 period (July-June) is estimated at 328.85 million tonnes, slightly lower than the 329.7 million tonnes in 2022-23, according to the government's third advance estimate released today. Despite this decrease, the output is still 21.1 million tonnes higher than the five-year average of 307.75 million tonnes.

The decline is primarily attributed to reduced pulses production, impacted by erratic monsoons during the kharif season and unseasonal rains during the rabi season. Major pulses such as chana, urad, and moong have seen lower yields. Chana production is estimated at 11.6 million tonnes, down from 12.3 million tonnes last year. Urad production has decreased to 2.3 million tonnes from 2.63 million tonnes. Conversely, tur production has risen slightly to 3.4 million tonnes from 3.3 million tonnes, and masur output increased to 1.8 million tonnes from 1.6 million tonnes.

Wheat production is estimated at 112.9 million tonnes, up from 110.6 million tonnes in the previous year and higher than the second advance estimate of 112.1 million tonnes. However, industry sources expect the actual production to be around 105 million tonnes due to heatwave damage in Madhya Pradesh. The International Grain Council estimates India's wheat output at 108 million tonnes.

Traders are urging the government to reduce or remove the 40% import duty on wheat to stabilize domestic prices amidst depleting government wheat stocks. This call follows the government’s increase of the duty from 30% to 40% in April 2019.

Rice production is pegged at 136.7 million tonnes, an increase from 135.8 million tonnes last year. In the second advance estimate, rice output was pegged at 123.8 million tonnes. Maize production is estimated at 35.7 million tonnes, down from 38.1 million tonnes, primarily due to drought in Karnataka, which received 25% deficit rainfall during the southwest monsoon.

Oilseeds production is estimated at 39.6 million tonnes, down from 41.4 million tonnes last year. Soybean output is pegged at 13.1 million tonnes, a decrease from 15 million tonnes, while groundnut production remains steady at 10.3 million tonnes. Mustard production is projected higher at 13.2 million tonnes, up from 12.6 million tonnes.

Sugarcane production is scaled down to 442.5 million tonnes from 490.5 million tonnes last year, also lower than the second advance estimate of 446.4 million tonnes.

Cotton production is estimated at 32.5 million bales (170 kg each), down from 33.7 million bales, but slightly higher than the second estimate of 32.3 million bales. Jute production is seen at 9.3 million bales (180 kg each), up from 9 million bales last year.

(By Commoditiescontrol Bureau; +91 98201 3018)

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