The Hindu : Business : CMIE expects rabi crop at 103 m tonnes

Online edition of India's National Newspaper
Wednesday, Nov 17, 2004

Business

Business

CMIE expects rabi crop at 103 m tonnes

MUMBAI, NOV. 16. Rabi crop is expected to rise by 3 per cent to 103 million tonnes on account of good rains and hike in minimum support prices, according to Centre for Monitoring Indian Economy (CMIE).

"The prospects of good rabi crop are bright following good rains in the post monsoon season," the economic think tank said in its monthly review today. However, the CMIE stuck to its earlier forecast that total agriculture production during 2004-05 would decline by 0.7 per cent and said the kharif output would remain at 105.1 million tonnes as estimated earlier.

Foodgrains production during the fiscal would decline by 1.9 per cent while non-foodgrains would grow by 1.1 per cent, it said.

In the post monsoon season during October 1-20, the country received 80.1 mm rainfall, which was 4 per cent above the normal rains and the precipitation and distribution was good across the regions, with exception of south peninsular India.

The Cabinet Committee on Economic Affairs has hiked the minimum support price in the range of 1.6 to 6.3 per cent.

While for wheat the MSP has been raised by Rs. 10 to Rs. 640 a quintal, it has been raised to Rs. 1,700 from Rs. 1,600 for mustard. The total area under kharif cultivation was down by 3.5 per cent as compared to year-ago levels and also lower at 97 per cent of the normal area sown.

— PTI

Printer friendly page
Send this article to Friends by E-Mail

Business

News Update

Stories in this Section