Business

Rice production expected to decline by 13 per cent to 9.67 million tonnes in Kharif season

Written by admin

Rice production expected to decline by 13 per cent to 9.67 million tonnes in Kharif season

New Delhi, Sep 23 (PTI) Rice production in the Kharif season this year is likely to fall by 13 per cent to 9.67 million tonnes due to fall in paddy area amid deficient rains in some parts of the country. Origo Commodities has said this in its initial estimate.

The Agriculture Ministry earlier this week released the first advance estimates for the kharif season of the 2022-23 crop year (July-June).

According to government data, rice production in the kharif season this year is estimated to decline by six per cent to 104.9 million tonnes from 111.7 million tonnes during the same period last year.

Gurugram based Origo Commodities is an agri-financial technology company started in the year 2011. It focuses on commodity supply chain, post-harvest management, trading and finance.

This is the first time that the company has released the estimates of Kharif crops. It will release the final estimates in November 2022.

Origo Commodities said in a statement that rice production in the Kharif season for 2022-23 “is likely to remain at 96.70 million tonnes as against 111.7 million tonnes in 2021-22, which is 13 per cent lower.”

As per the latest estimates by Origo Commodities, the total kharif production for the crop year 2022-23 is estimated at 644.2 million tonnes, which is two per cent lower than the corresponding period last year.

The total kharif production is expected to be lower due to expected decline in production of paddy, groundnut, castor, jute and sugarcane, the statement said.

About the author

admin