India is one of the world’s largest producers of agricultural products, including rice, wheat, sugarcane Etc.. However, the country also imports certain agricultural products to meet domestic demand, such as edible oils, pulses, millets, and fruits.
Latest Updates On India’s Agriculture
Since the crops were harmed by the unseasonal rainfall, prices of everyday necessities like wheat, jeera, chana, and some fruits and vegetables are predicted to rise. Unseasonal rains are predicted to raise the costs of goods that are in short supply and lower the returns for farmers in the case of perishable goods and areas where farmers have lost their crop.
Wheat, mustard, chana, as well as summer fruits like mangoes, watermelons, muskmelons, bananas, and vegetables, that were ready for harvest, have all been harmed by the recent heavy rains. Wheat farmers will suffer the greatest loss because almost the entire crop was in the fields waiting to be harvested within a fortnight to a month.
Effects On Commodities
Due to reports of significant rainfall in wheat-growing regions, wheat prices increased 4% on Monday. It will take 10 to 15 days longer for the new crop of wheat to arrive, which will keep prices steady. Due to the widespread rainfall in states that produce wheat, including Rajasthan, Madhya Pradesh, Gujarat, Bihar, Gujarat, and Maharashtra, wheat production is also anticipated to decrease by 3-4%.
Due to damage to Rajasthan’s harvest-ready crop, jeera prices, which were already at record highs, have risen by 6-7% over the last three to four days. With about half of the crop still in the fields, the majority of the chana grown in Madhya Pradesh, the nation’s top chana-producing state, will be damaged.
This rain is predicted to significantly reduce the farmers’ disposable surplus, raising concerns about rural spending. Due to the damage that the rain will cause to the color, shine, size, and gluten content of wheat grains, wheat farmers will now receive lower prices for their crop.
Isabgol, a significant cash crop in Rajasthan that is primarily exported, has lost up to 50% of its production. Due to crop damage caused by rain, grape prices have dropped by 30% to 40% in the past week.
Ashwin Nayak, a spice industry veteran from Rajasthan said, “Isabgol is a very sensitive crop, 90% of which was standing in the fields. We fear about 50% loss to isabgol production.”
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