This year’s early onset and late withdrawal of the southwest monsoon in our country has created widespread abnormalities and has impacted agricultural commodities production as well.
A large portion of the states have received normal rainfall except for Gujarat, Bihar, Arunachal Pradesh, Jharkhand, Assam, and Manipur. These states have detailed a shortage in rainfall, while Kerala is the main state which has received abundance rain all through this season.
Kharif crops like rice, cotton, oil seeds, and coarse grains are intensely relied upon the rainstorm. Harvest and production estimate of these crops have typically influenced its future price.
This year, states such as Punjab, Haryana, and Rajasthan have reported untimely rains which may affect crops such as pulses and cotton while the circumstances of other kharif crops are pretty much pleasant.
The broad rains in few states have allegedly harmed the agricultural commodities production such as paddy production. The widespread downpours have resulted in delay in harvesting and crop acquisition process.
However, a bumper crop is anticipated in soybean production this year. Lower than typical rains usually expected in July and August months had created worries over yield standpoint however the correct effect on the equivalent is yet to know.
In the interim, costs of a large number of the kharif crops in the commodities futures exchanges are presently trading down against June, when south-west storm kicks off in the nation.
According to trade sources, crop production for the season is expected to be would be around 50-55 lakh bales against its prior earlier prediction of 60-65 lakh bales, as reported on Money Control.
India’s cotton yield is evaluated to be 28.7 million 480-pound bales by USDA for the MY 2018/19, a decrease of 1 percent as that during 2017. This agricultural commodities production is evaluated to fall 508 kilograms for every hectare, a decrease of 3 percent from a month ago and down marginally from a year ago. The change in the yield of cotton commodity is because of the precipitation shortages in the significant cotton producing territories of Gujarat and Maharashtra, as reported on CommodityOnline.
The post Southwest Monsoon Impacts Agricultural Commodities Production This Year appeared first on OWLT Market.
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