origo commodities: Rice output may fall 13 per cent to 96.7 million tonnes in kharif this year: Origo Commodities

According to preliminary estimates by Origo Commodities, rice production in Kharif season this year may fall by 13 per cent to 96.70 lakh tonnes due to fall in paddy acreage amid deficient rains in some parts of the country. Earlier this week, the agriculture ministry released the first advance estimates for the kharif season of the 2022-23 crop year (July-June). According to government data, rice production is likely to decline by 6 per cent to 104.99 million tonnes this year from 111.76 million tonnes in the kharif season last year.

Established in 2011, Gurugram based Origo Commodities is an agri fin-tech company focused on commodity supply chain, post harvest management, trade and finance. This is the first time that the company has released the estimates of Kharif crops. It will come with the final estimate in November 2022.

In a statement, Origo Commodities said that the production of rice in the Kharif season for 2022-23 “is observed to be 13 per cent lower at 96.7 million tonnes as against 111.17 million tonnes in the year 2021-22”.

The company said, “The area under paddy has declined by about 9 per cent compared to last year, while the yield is estimated to be 5 per cent lower than last year. yields have been adversely affected.” ,

As per the latest estimate by Origo Commodities, the total kharif production for the crop year 2022-23 is estimated at 640.42 million tonnes, which is 2 per cent lower than the corresponding period last year.

The total kharif production is expected to be lower due to possible decline in production of paddy, groundnut, castor, jute and sugarcane, the statement said.

Origo estimates that cotton production may increase by 8.5 percent to 34.2 million bales (170 kg each) against 31.5 million bales in 2021-22, while soybean production may increase by 4.5 percent to 12.48 million bales in 2021-22 against 11.95 million tonnes. There could be tons.

Soybean acreage is almost flat compared to last year, while this year’s yield is estimated to increase by 4.7 percent over last year, considering favorable rainfall distribution in major soybean producing states. PTI MJH HVA


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