Thursday, October 7, 2010

India's Rice Production To Miss 100 Million Tonnes In The Current Yea

According to the latest update from Ministry of Agriculture, India's rice output in the current year is likely to decline below 100 million tonnes on the account of erratic weather conditions in major rice growing areas. 

Ministry estimated that rice production may fall by around 5 million tons to 94.5-95 million tonnes in the current season. This is mainly due to drought in three eastern states as well as floods in some northern parts of the country which will peg back the main summer-sown rice output to 80.41 million tons, down from earlier estimates of more than 85 million tons.

However, recent fall in rice output may not cause any problems for the government as its stocks are overflowing and output in 2010-11 will still be higher than last year.

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