Agriculture Commodity Market: State initiative is needed for ‘put option’ of turmeric, maize
Agriculture Economy: The monsoon season, which is very important for the agriculture-based economy of our country, has come to its end. After a poor June, rains in July had raised hopes for the Kharif season. But August saw the lowest rainfall in the last 122 years.
Therefore, the total rainfall during the June-August season is 10% less than the average. Therefore, even if there is an average amount of rain in September as predicted by the Meteorological Department, the rainfall in the overall season will be very less.
Even the rainfall so far is not uniform everywhere. Rainfall in agricultural areas of South, Central and West India is much lower than the statistics show. Therefore, not only the actual agriculture, but also drinking water problems have started to arise.
The shadow of drought has started to darken in most of the states of the country. If the rainfall in September and October is much higher than average like in the last two to three years, the agriculture sector will get relief. But with Kharif largely out of hand, the late rains will at least improve the rabi season. But the fate of the rabi season depends on the return of rains.
This year rain has tested the farmers. This is the first time in many years that such a serious situation has arisen in all the crops and in all the states of the country. Therefore, the future will be difficult for the agriculture sector. Producers, processors, traders, consumers and the government will all be affected.
Due to the fact that all the above situations will cause inflation, many measures have been taken by the central government in the past. In this, stock limit on pulses, open import, reduction in import duty on edible oil, wheat-rice export ban, stock control, export duty on onion were done. And will be done in the future as well.
But this has only reduced the pace of inflation. But the wind of inflation will not be stopped. As the kharif production is almost certain to fall sharply, there are signs that inflation will rise further. Also, it is obvious that there will be more restrictions on the agricultural market. It is being said that now there will be a stock limit on gram, which was free of restrictions till now.
