<ul><li>Overall <keyword id="15065299" type="General" weightage="20" keywordseo="kharif-foodgrain-output" source="Orion">kharif foodgrain output</keyword> has been estimated at 149.9 million tonnes, 3.9% lower than 156.0 million tonnes last year, according to a report by ICICI Bank Global Markets.</li><li>According to the Ministry of Agriculture estimates, rice output is pegged at 105 million tonnes, lower than 111.8 million tonnes last year.</li><li>Low production may lead to higher fluctuations in prices of food grains.</li></ul>Erratic and patchy rainfall across some parts of the country has disrupted the kharif sowing season, which could put pressure on the prices of food grains such as rice and pulses. Overall kharif foodgrain output has been estimated at 149.9 million tonnes, 3.9% lower than 156.0 million tonnes last year, says a report by ICICI Bank Global Markets. “Spatial distribution across the country has remained uneven. The output for paddy and pulses has been pegged lower on a YOY (year-on-year) basis on the back of lower acreage this year. Overall foodgrains production is also lower than last year at -3.9% YoY. This is likely to put upside pressure on prices. Perishables are also likely to see an uptick on the back of excess or deficient rainfall. However, higher reservoir levels should bode well for the upcoming rabi sowing,” said the report. The Ministry of Agriculture has released the first advance estimates of <keyword id="2959378" type="General" weightage="20" keywordseo="kharif-crop-production" source="Orion">kharif crop production</keyword> for crop year 2022-23. According to the Ministry of Agriculture estimates, rice output is pegged at 105 million tonnes, which is lower than 111.8 million tonnes last year. Analysts say low production may lead to higher fluctuations in prices of food grains. <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;"><colgroup></colgroup><col /><col /><col /><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Area sown under kharif crops </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">September 16, 2022 (million hectare) </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">% change on year </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Rice </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">39.9 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-4.5% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Pulses </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">13.2 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-4.1% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Coarse cereals </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">18.1 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">4.2% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Oilseeds </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">19.1 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-0.7% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Sugarcane </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">5.6 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">1.2% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Jute &amp; mesta </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">0.7 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-0.6% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Cotton </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">12.7 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">7.5% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Total </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">109.3 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-0.8% </td></tr></tbody></table>(Source: ICICI Bank Global Markets) <keyword id="6358301" type="General" weightage="20" keywordseo="monsoon" source="Orion">Monsoon</keyword> impact Monsoon directly impacts India’s growth and inflation outlook and the <keyword id="164166" type="General" weightage="20" keywordseo="Southwest-monsoon" source="Orion">Southwest monsoon</keyword> is crucial as the country receives about 75% of annual rainfall between June and September. A good monsoon soothes not only farmers but the economy and markets too. Central and southern regions have received excess rainfall at above 20% and 26% above long-period average (LPA) respectively. However, east-northeast and northwest India are witnessing lower than normal rainfall at -17% and -3% of LPA respectively, the report said. Rainfall up to September 22 has been significantly higher in Tamil Nadu, Telangana, Karnataka, Rajasthan and Gujarat. On the other hand, Uttar Pradesh, Bihar, Jharkhand, and West Bengal continue to witness lower precipitation, according to the ICICI report. <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;"><colgroup></colgroup><col /><col /><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Rainfall </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">% of rain </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Tamil Nadu </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">58% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Telangana </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">48% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Karnataka </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">35% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Rajasthan </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">34% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Gujarat </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">31% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Uttar Pradesh </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-33% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Bihar </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-30% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Jharkhand </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-20% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">West Bengal </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-15% </td></tr></tbody></table>(Source: ICICI Bank Global Markets) SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/corporates/news/accentures-disappointing-q1-and-fy23-forecasts-indicate-more-pain-for-the-it-sector/articleshow/94392402.cms">Accenture’s disappointing Q1 and FY23 forecasts indicate more pain for the IT sector</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/finance/news/home-loans-growing-at-a-faster-rate-in-tier-3-and-4-districts-thanks-to-wfh-sbi-report/articleshow/94393267.cms">Home loans growing at a faster rate in Tier 3 and 4 districts, thanks to WFH: SBI report</a>

Lower output of rice, pulses to put pressure on foodgrain prices in India

<ul><li>Rainfall has been uneven and erratic geographically this season.</li><li>More rainfall is in the offing, but if geographic disparities persist, it could also have a detrimental impact on crop production, negatively impacting growth and inflation, says Nomura report.</li><li>This has led to changes in sowing patterns, and erratic rainfall also poses macro risks.</li><li>Acreage for rice is down by 17% y-o-y and sowing of tur, sugarcane and jute &amp; mesta are down from last year's levels, says the report.</li></ul>The monsoon is a key influencer in the agriculture industry, and so far, India’s rainfall is tracking above normal by 10%, says Nomura’s latest report. However, rainfall has been uneven and erratic geographically. On the one hand, Central and Southern states have received 30% above normal rainfall, and on the other, agriculture-dependent states such as Uttar Pradesh, Bihar, Jharkhand and West Bengal have seen a steep decline. As per the report, July has historically proven to be the most important month for food production, and excess rainfall, especially towards the end of the season in September, raises the risk of damaging crops, which was witnessed last year. All hopes are now pinned on August. <h2 style="line-height:1.38;margin-top:18pt;margin-bottom:6pt;">Erratic monsoon affects sowing patterns</h2> It is before the beginning of the <a href="https://www.businessinsider.in/india/news/kharif-sowing-is-off-to-a-weak-start-with-extended-dry-spells-and-floods/articleshow/92435771.cms">monsoon season</a>, around May end to early June, that <a href="https://www.businessinsider.in/india/news/kharif-sowing-is-off-to-a-weak-start-with-extended-dry-spells-and-floods/articleshow/92435771.cms">Kharif crops </a>are sown. They are harvested after the monsoon ends in October. Rice, maize, and pulses such as urad, moong dal and millets are among the key <keyword id="50360" type="General" weightage="20" keywordseo="kharif-crops" source="Orion">Kharif crops</keyword>. However, India’s rice sowing pattern has seen a dip as one-third of the country’s rice production is concentrated in the Eastern states such as West Bengal, Bihar and Uttar Pradesh, where rainfall has been particularly deficient this season. According to Nomura’s report, acreage for rice is down by 17% yearly. Sowing of tur, sugarcane and jute &amp; mesta is also down from last year. On a brighter note, most of India’s coarse cereals, pulses, oilseeds and cotton have shown promising progress as they are grown in the regions where rainfall has been bountiful. Although Kharif food grain’s overall acreage is tracking at -4.6% y-o-y as of mid-July. <h2 style="line-height:1.38;margin-top:18pt;margin-bottom:6pt;">Erratic monsoon poses a macroeconomic risk</h2> There’s still hope. Kharif sowing could pick up in August as La Niña effects suggest that more rainfall is in the offing. However, India’s overall agricultural output could be affected if heavy rainfall extends to September. “If monsoons last longer than usual or geographic disparities persist, it could also have a detrimental impact on crop production, especially rice, jute and sugarcane. A scenario in which foodgrain production, especially for rice, eventually falters is a downside risk to agriculture GVA growth, with potential second-round effects to the economy through lower rural demand,” says the Nomura report. This, in turn, could prove to be a 'downside risk’ for food inflation. <div type="Article" hostid="261" msid="92435771" title="Kharif sowing is off to a weak start with extended dry spells and floods" mstype="2" mssubtype="0"></div>

Uneven rains could have a detrimental impact on crop production and inflation: Nomura report

New Delhi, Feb 18 () India is set to harvest a record wheat production of 106.21 million tonne in the 2019-20 crop year on the back of good rains, according to latest government data. Wheat production has been rising year-on-year and the previous record of 103.60 million tonne was achieved during the 2018-19 crop year (July-June). Wheat is the main rabi (winter) crop, harvesting of which will begin from next month. Releasing the second estimate of foodgrain production, Agriculture Ministry said the cumulative rainfall in the country during the monsoon season (June-September 2019) was 10 per cent higher than the Long Period Average (LPA). Accordingly, the production of most of the crops for the 2019-20 crop year has been estimated higher than their normal production, it said, and added these estimates are subject to revision on account of more precise information flowing over the time. As per the second estimate, total foodgrain production is pegged at a record 291.95 million tonne for 2019-20 crop year, higher than 285.21 million tonne last year. Of the total production, foodgrain output is estimated to be 142.36 million tonne from the kharif (summer) season and 149.60 million tonne from the rabi season of this year. Foodgrain basket comprises of wheat, rice, cereals and pulses. LUX RVK

Govt pegs record wheat output at 106.21 mln ton for 2019-20

(Eds: Adding production estimates of other crops) New Delhi, Feb 18 () India is set to harvest a record 106.21 million tonne wheat in 2019-20 crop year on increase in acreage owing to good rains, according to latest government data. Wheat production has been rising year-on-year and the previous record of 103.60 million tonne was achieved during 2018-19 crop year (July-June). Wheat is the main rabi (winter) crop, harvesting of which will begin from next month. Releasing the second estimate of foodgrain production, the Agriculture Ministry said the cumulative rainfall in the country during the monsoon season (June-September 2019) was 10 per cent higher than the Long Period Average (LPA). Accordingly, production of most of the crops for 2019-20 crop year has been estimated higher than their normal production, it said. Wheat production has been estimated at a record level for this year as acreage under wheat crop has increased substantially due to better soil moisture following good monsoon rains. Wheat was planted in 33.61 million hectares area till January-end of this crop year as against 29.93 million hectares in the year-ago period, according to the ministry's sowing data. As per the second estimate, total foodgrain production is pegged at a record 291.95 million tonne for 2019-20 crop year, higher than 285.21 million tonne last year. Of the total production, foodgrain output is estimated to be 142.36 million tonne from the kharif (summer) season and 149.60 million tonne from the rabi season of this year. Foodgrain basket comprises of wheat, rice, cereals and pulses. Rice output is estimated to increase marginally to 117.47 million tonne this year from 116.48 million tonne last year, while production of cereals is expected to increase to 268.93 million tonne from 263.14 million tonne. Production of pulses is pegged slightly higher at 23.02 million tonne for this year as against 22.08 million tonne last year, the data showed. Oilseeds output is estimated to increase to 34.18 million tonne for 2019-20 from 31.52 million tonne last year. Among cash crops, sugarcane output is estimated to decline to 353.84 million tonne from 405.41 million tonne in the said period. Cotton output is estimated to increase to 34.89 million bales (of 170 kg each) for this year from 28.04 million bales in 2018-19, while jute/mesta output is expected to remain at last year's level of 9.8 million bales of 180 kg each. The ministry comes out with four foodgrain production estimates before the final one at different stages of harvesting. LUX RVK

Govt pegs wheat output at record 106.21 mln tn in 2019-20

<ul><li>As per the second advance estimates released by the government for 2023, rabi foodgrain and oilseeds output is projected to reach a record high.</li><li>“With higher overall foodgrain production, we expect farmers’ income to remain solid,” said a report by Nuvama Institutional Equities.</li><li>The market prices of some rabi crops and others are even higher than the <keyword id="16668700" type="General" weightage="20" keywordseo="Government-minimum-support" source="Orion">government minimum support</keyword> price (MSP).</li><li>Adding to higher crop prices, even prices of fertiliser have continued to decline driven by easing raw material prices. </li></ul>A record high production in rabi foodgrain in 2023 and <keyword id="16668699" type="General" weightage="20" keywordseo="high-crop-prices" source="Orion">high crop prices</keyword> are expected to boost the income of farmers, says a report by Nuvama Institutional Equities. Also, this would be the fourth consecutive year of increase in rabi foodgrain production. As per the second advance estimates released by the government for 2023, rabi foodgrain and oilseeds output is projected to reach a record high. Rabi foodgrain output is estimated at 170.1 million tonnes (MT), which is 6.2% higher from previous year. Output of rabi oilseeds is estimated to increase by 4.6% with record-high production at 14.6 million tonnes. “With higher overall foodgrain production, we expect farmers’ income to remain solid,” said the report. According to Nuvama, India is likely to witness a 2.5% higher food grain production during 2022-23. Key rabi crop prices like wheat are up by 20% on year and by 6% in the last 3 months. “However, the government is targeting aggressive procurement of wheat in the season, which may keep prices intact and boost farmers’ cash flows. Also, as reservoir level remains above the ten-year average (all-India level) farmers entering into kharif season with solid cash flows create a conducive environment for the agri-input industry,” said the report. High crop prices to benefit farmers Prices of wheat (up 20%), paddy (up 18%), and maize (up 19%) have remained strong on a yearly basis while soyabean, cotton (down 8%) and pulses (tur dal down by 8%) remain weak. On the bright side, the market prices of some rabi crops and others are even higher than the government minimum support price (MSP). Market price remains higher than MSP for rabi crops <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;"><colgroup></colgroup><col /><col /><col /><col /><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Crop </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">MSP price </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Market price </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">% change </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Soybean, yellow </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹4,300 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹6,240 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">45.1% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Arhar (Tur) </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹6,600 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹8,788 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">33.1% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Wheat </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹2,105 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹2,673 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">32.7% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Paddy, common </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹2,040 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹2,370 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">16.2% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Maize </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹1,962 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹2,240 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">14.2% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Groundnut in shell </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹5,850 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹5,695 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-2.6% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Bajra </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹2,350 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹2,100 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-10.6% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Jowar, hybrid </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹2,970 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹2,365 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-20.4% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Ragi </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹3,578 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹2,425 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-32.2% </td></tr></tbody></table>Source: Nuvama Research Adding to the higher market prices of many rabi crops, even prices of fertilisers have continued to decline driven by easing raw material prices. “Though overall fertiliser prices remain firm on a year-on-year basis. We expect moderation in fertiliser prices to benefit companies with lower working capital and also benefiting the government in reducing its subsidy bills. Softening raw material prices may also support margin expansion in NPK fertiliser in near term. However, we expect fertiliser prices to farmers are unlikely to witness any significant changes,” says Nuvama. NPK fertilisers contain nitrogen (N), phosphorus (P) and potassium (K). Monsoon fear looms While the monsoon is still about three months away, there are concerns about El Nino impacting production and thereby food inflation. El Nino is a climate pattern in the Pacific Ocean that influences climate conditions and creates a deficient monsoon. The Nuvama analysts said that while they were confident about robust rabi crop output boosting farmers’ cash flows and driving investment in kharif crop, they were concerned about a poor monsoon. “Weather agencies have indicated the occurrence of El Nino in 2023 that could result in a lower- than-average monsoon. Our interaction with dealers indicates that companies are focused on collections and offering attractive discounts as lower crop output liquidation by farmers poses a challenging scenario,” said the report. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/corporates/news/adani-groups-combined-market-cap-crosses-8-lakh-crore/articleshow/98302675.cms">Adani Enterprises zooms 14% as seven group stocks surge – Adani group’s combined market cap crosses ₹8 lakh crore</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/corporates/news/gap-between-tcs-infosys-and-other-smaller-indian-it-companies-to-increase-in-fy24/articleshow/98308333.cms">Gap between IT sector’s leaders and laggards to widen further in FY24, says Kotak Institutional Equities</a>

Farm income expected to rise after good rabi season and higher crop prices

New Delhi, Nov 19 () Following are the top business stories at 1825 hours:

DEL40 BIZ-LSQ-ONION
Onion output in kharif, late-kharif seasons of 2019-20 may fall 26 pc to 52.06 lakh tonne: Paswan
New Delhi: Onion production in kharif and late-kharif seasons of 2019-20 is estimated to fall 26 per cent to 52.06 lakh tonne, putting pressure on supply and prices, Food Minister Ram Vilas Paswan said on Tuesday.

DCM44 BIZ-DISINVESTMENT
Cabinet likely to consider proposal to bring down its stake below 51 pc in CPSEs soon
New Delhi: The Union Cabinet will soon consider a proposal to bring down government stake in central public sector enterprises (CPSEs) to below 51 per cent even while retaining the state control, sources said.

DCM10 BIZ-FADA-AUTO SALES
Passenger vehicle retail sales jump 11 pc in Oct on festive demand: FADA
New Delhi: Automobile dealers' body FADA on Tuesday said retail sales of passenger vehicles in October increased 11 per cent to 2,48,036 units against the same period last year, driven by festive demand during the month.
 
BCM6 DEPOSIT-INSURANCE-RBI-UNIONS
RBI unions want govt to hike deposit insurance cover to Rs 10L
Mumbai: The Reserve Bank employees unions on Tuesday urged the government to hike the insurance cover on bank deposits from the present Rs 1 lakh to Rs 10 lakh.
 
DEL44 BIZ-LD STOCKS
Sensex rises 186 pts; RIL rallies 4 pc to all-time high
Mumbai: Market benchmark Sensex rose by 186 points on Tuesday, driven by substantial gains in Reliance Industries, Bharti Airtel and HDFC Bank amid positive trends in global equities.

DEL47 BIZ-RUPEE-CLOSE
Rupee recovers 13 paise to end at 71.71 against USD
Mumbai:The rupee recovered from initial losses to settle higher by 13 paise at 71.71 against the US currency on Tuesday, propped up softening crude oil prices and gains in domestic equity markets.

DEL12 BIZ-ONION-IMPORT
Pvt traders place onion import orders; 1,000 tonnes expected by month-end: Govt official
New Delhi: Private traders have placed orders for importing onions and at least 1,000 tonnes are expected by month end, which will help ease retail prices that is still ruling high at over Rs 60/kg, a senior government official said on Tuesday.

DCM45 BIZ-LSQ-FCI-BORROWING
FCI's total borrowing at Rs 2.19 lakh cr on Oct 31: Govt
New Delhi: The Food Corporation of India (FCI), Government's nodal agency to procure and distribute foodgrains, had a total borrowing of Rs 2.19 lakh crore at October-end, Parliament was informed on Tuesday. 
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You Searched For "kharif foodgrain output" and got 6 results

Lower output of rice, pulses to put pressure on foodgrain prices in India

Bhakti Makwana

Uneven rains could have a detrimental impact on crop production and inflation: Nomura report

Karuna Sharma

Govt pegs record wheat output at 106.21 mln ton for 2019-20

PTI

Govt pegs wheat output at record 106.21 mln tn in 2019-20

PTI

Farm income expected to rise after good rabi season and higher crop prices

Bhakti Makwana

Business highlights

PTI