Farm Production likely to Go Down

Farm Production likely to Go Down

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Due to decline in kharif production on account of drought and floods in several parts of India,the output from agriculture sector is expected to decrease by 0.2% in the current fiscal against 1.6% growth in the previous year stated the Central Statistical Organization (CSO).

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However, late last month, the RBI in its Q3 review of the monetary policy had projected that the agricultural GDP growth in 2009-10 is likely to be near zero.

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Production of foodgrains and oilseeds is likely to decline by 8% and 5% in the 2009-10 crop year compared with the previous year.

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The sugarcane output is likely to dip by 11.8% and that could add up to pressure on the sugar prices.

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Meanwhile, among the horticultural crops, production of fruits and vegetables is expected to increase by 2.5% and 4.8%, respectively, in 2009-10.

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Rice production is estimated to be 71.65 million tonnes in the 2009-10 kharif season as compared to the actual production of 84.58 million tonnes in the previous season.

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On the other hand, production of coarse cereals is also likely to fall to 22.76 million tonnes from the actual production of 28.34 million tonnes in the 2008-09 kharif season.

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🙂

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