Indian Economy News

Total foodgrain production is estimated at 3288.52 LMT, higher by 211.00 LMT from the average foodgrain production of the last 5 years

The Ministry of Agriculture and Farmers Welfare has released the Third Advance Estimates of Major Agricultural Crops for 2023-24, incorporating Kharif, Rabi, and summer seasons. These estimates, primarily based on State Agricultural Statistics Authorities (SASAs) data, have been validated with information from Remote Sensing, the Weekly Crop Weather Watch Group, and other agencies. Climatic conditions, historical trends, price movements, and mandi arrivals were also considered. Total foodgrain production is estimated at 3288.52 LMT, slightly lower than 2022-23 but higher by 211.00 LMT compared to the 5-year average (2018-19 to 2022-23) of 3077.52 LMT. Rice production increased to 1367.00 LMT from 1357.55 LMT in 2022-23, and wheat production rose to 1129.25 LMT, up by 23.71 LMT from last year.

Shree Anna production is estimated at 174.08 LMT, a slight increase from 2022-23. Nutri/Coarse Cereals production is 547.34 LMT, up by 46.24 LMT from the 5-year average. Tur production is 33.85 LMT, slightly higher than last year's 33.12 LMT, and lentil production rose to 17.54 LMT from 15.59 LMT. Soybean production is 130.54 LMT, and rapeseed & mustard production is 131.61 LMT, a 5.18 LMT increase from last year. Cotton production is 325.22 lakh bales (170 kg each), and sugarcane production is 4425.22 LMT. Kharif crop estimates consider Crop Cutting Experiments (CCEs) based yield, with Rabi crop production using Digital General Crop Estimation Survey (DGCES) data from 16 states and summer crop production based on the average yield of the last three years.

Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.