Posts Tagged ‘Rabi Crops’

Food Price Index Rose 16.23%

Food price index rose 16.23 per cent in the year to May 15.

.

The fuel price index climbed 12.08 per cent.

.

Meanwhile, the speed of rise in food prices slackened from the previous week”s annual rise of 16.49 per cent.

.

The fuel price inflation also slowed to 12.08 per cent from the previous week”s 12.33 per cent.

.

The primary articles index was up 15.90 per cent, compared with the previous week”s annual reading of 16.19 per cent.

.

Wholesale prices, however, eased in line with expectations to 9.59 per cent in April from a year earlier.

.

This in turn provided further evidence that the RBI will hold off from raising interest rates at least until its next scheduled meeting in July.

.

Earlier, Planning Commission Member Abhijit Sen stated that food inflation is likely to decrease to 4 to 5 % by November.

.

This is from the current over 16 % after the arrival of Kharif (summer) crops.

.

Meanwhile, he added that farm sector growth will be altered upwards to 0.2 % in 2009-10.

.

This, however, is from the earlier estimate of minus 0.2 %.

.

Prices have started falling from March after good Rabi arrival.

.

Moreover, for some commodities such as onion and potatoes, the decline is very sharp.

.

But, however, the overall prices are very high and after Kharif season, prices will commence to decline.

.

He also said that it is quite possible food inflation will decline to 4-5 % by November this year.

.

On the other hand, experts had predicted a decrease in food inflation with the arrival of Rabi crops in April.

.

Mainly due to high prices of vegetables and fruits, food inflation carried on increasing and rose to 16.49 % for the week ended May 8.

.

Prime Minister Manmohan Singh had expressed optimism that overall inflation would decline to 5-6 % by December.

.

In addition, on farm sector growth, Sen said growth is expected to be 0.2 % in 2009-10.

.

This is due to the upward revision in production in third advance estimate.

.

In 2010-11, the farm sector growth is likely to be 5-6 % if met department forecast on monsoon comes true.

.

Foodgrains production has been revised upwards to 218.19 million tonnes from 216.85 million tonnes quoted in the second advance estimate released in February.

.

Wheat production is projected at a record 80.98 million tonnes in 2009-10.

After 20 Years, India to Import Rice

Hello Friends here we come up with the Latest Agri Commodities updates from various parts of the country.

🙂

 

After 20 Years, India to Import Rice

After 20 years, India to import rice:

India, a traditional rice exporter, will import the grain for the first time in 20 years to meet a projected shortfall of the crop hit by drought and floods, government said yesterday.

😦

The government estimates that there would be a shortfall of over 15 million tonnes in the 2009-10 Kharif (summer) season due to drought and floods in several states.

Thailand’s Foreign Trade department announced that the world’s biggest rice exporter is expected to release part of its huge stock of almost six million tonnes of rice stockpile to India, besides eight other countries, through g-to-g sales programmes.

🙂

In Other major Commodities Updates we can see that the demand-supply gap for natural rubber in the country is set widen.

Demand-supply gap for rubber stretches:

The demand-supply gap for natural rubber in the country is set widen as production is expected to fall and demand set to rise above earlier stimates.

Rubber production for April-October period was 9.4 per cent lower at 4,35,125 tonnes against 4,80,230 tonnes last year.

Consumption grewn three per cent to 5,36,100 tonnes (5,20,375 tonnes).

🙂

The production-consumption mismatch resulted in a sharp rise in imports and a corresponding fall in exports.

Imports increased 133 per cent to 1,26,472 tonnes (54,283 tonnes), while exports plunged 92 per cent to 3,859 tonnes (34,000 tonnes), sources in the Rubber Board said.

The Rubber Board has scaled down the production target for the current fiscal by 2.8 per cent to 8.40 lakh tonnes from the earlier estimates of 8.67 lakh tonnes announced in April.

The forward estimates of production has moved up 6.8 per cent to 9.31 lakh tonnes from the earlier estimate of 8.81 lakh tonnes.

🙂

Note : For More Latest Industry, Stock Market and Economy News and Updates, please Click Here

Rabi Crops Get a Lifeline on Late Rains :)

Lets Get to know of the latest Agri updates in the country 😀

agri-update-smc

Rabi Crops Get a Lifeline on Late Rains:

Considering cumulative rainfall from June to September, expected retention of moisture in soil between October and December, and recharge in the ground water level, the agriculture ministry expects no major dip in the coverage of food crops in the coming rabi season.

🙂

As for other rabi crops in 2009, the ministry sets the rice production target at 14.5 mt, for jowar at 3.9 mt and barley at 1.6 mt, which are almost similar to the last year’s level.

According to the fourth round of estimate by the ministry, rice production in the last rabi season was 14.6 mt, barley 1.5 mt and jowar 4.2 mt.

🙂

At the same time, it has asked all wheat growing states to ensure that sowing of wheat is completed by the end of November and to see that maximum areas are covered with high yielding and high temperature tolerant varieties.

In Other major Agri Updates we can see that Monsoon has withdrawn and has left 22% shortfall in the country.

An erratic monsoon, which left the country 22 per cent short of normal seasonal rainfall and caused concern about the kharif harvest, has finally begun to withdraw, almost three weeks later than normal.

😦

The total monsoon rainfall this year till September 23 was estimated by the IMD at 66.83 cm, about 22 per cent below the normal level of 85.87 cm for the period.

According to the India Meteorological Department (IMD), the withdrawal line today passed through Ganganagar, Churu, Jodhpur and Barmer in Rajasthan.

However, many other parts of the country will still continue to get rain.

The maximum deficiency is in the north-west (34 per cent), followed by the north-east (25 per cent), central India (19 per cent) and southern peninsula (8 per cent).

Note : For More Latest Industry, Stock Market and Economy News and Updates, please Click Here