India’s Wheat production may cross record 100 MT in 2018-19

India’s wheat production might cross 100 million tonnes, an all-time high level, in the current rabi season, helped by good weather conditions during winter, a senior government official said, PTI reported.

Wheat production stood at record 99.70 million tonne in the 2017-18 crop year (July-June).

“Wheat production is estimated to cross 100 million tonne based on the feedback we are getting from state governments,” Agriculture Commissioner said.

The official said weather condition has been conducive this winter for wheat, a major rabi crop. The government will soon announce production estimates for rabi crops of 2018-19.

 NCDEX Tips

Wheat output is expected to rise despite fall of around 8 lakh hectare in the wheat area to 296 lakh hectare so far this rabi season.

The government of India (GoI) had increased the minimum support price (MSP) of wheat to Rs 1,840 per quintal from Rs 1,735 per quintal, as part of its decision to fix the support price at least 1.5 times of the production cost.

The Food Corporation of India (FCI), the nodal agency for procurement and distribution of foodgrains, and state agencies buy wheat from farmers at MSP and the grain is distributed at Rs 2 per kg to over 80 crore people under the National Food Security Act.

Disclaimer:- The views and investment tips expressed by investment experts are their own. Ripples Advisory advises users to check with certified experts before taking any investment decisions.

Best Share Market News, Click Here To Get More News - NCDEX Tips, for 2 Days Free Trial give a missed call @9644405056 and Get Share Market Services.

Comments

Popular posts from this blog

Daily equity Market By Ripplesadvisory Report 16-Aug-2016

Axis Bank Declines after Reporting Tepid Q4 Results

Axis Bank agrees to buy to payments wallet provider FreeCharge for $60 million