Stock advisory Company- Govt estimates 2.8% dip in kharif crop output in 2017-18

Click Here and enjoy two days FREE TRIAL www.ripplesadvisory.com

Production of Kharif crops this year is likely to be lower than last year, the agriculture ministry said in its first advance estimates, with the only exception being sugarcane.

Production of foodgrains such as rice, pulses, and coarse cereals is likely at 134.7 million tonnes in 2017-18, about 2.8% below last year’s record crop of 138.5 million tonnes, ministry estimates showed.

Production of oilseeds -- on which India is heavily import-dependent -- is likely to fall by 7.7%, from 22.4 million tonnes in 2016-17 to 20.68 million tonnes in 2017-18. For cotton, despite 19% higher sowing year-on-year by farmers (who reduced area under pulses), production is estimated to fall from 33 million bales (one bale equals 170 kg) last year to 32.3 million tonnes in 2017-18 due to lower productivity, the ministry said.