Early monsoon to boost crop production, acreage surge 11%: Report
The early monsoon arrival, 10–15 days ahead of schedule, has boosted crop sowing, with acreages up 11%. The shift in cropping patterns has favored maize, though cotton is replacing maize in parts of western and southern India. Stable domestic and global prices suggest a volume-driven, stable-price season for agri-input manufacturers.
Early arrival of monsoon, 10-15 days ahead of its schedule, will boost crop production as acreages are up 11 per cent as of now, noted a report by AnandRathi.
The report further adds that the early arrival has led to a shift of crop patterns, which have particularly led to more maize acreage. However, lower carried-over stocks create headroom for further inventory push in the season. In the process of crop shift, maize acreages are being replaced by cotton particularly in western and southern India.
Additionally, domestic and global prices are largely stable and near-term price hikes seem improbable, which is a reflection of a bumper season for the technical manufacturers, led by volumes and stable prices.
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Source : The Hindu Business line
