Heavy monsoon rains speed up crop planting in India
Indian farmers have planted 69.2 million hectares with summer crops, up 21.2% from this time a year earlier, says Ministry of Agriculture & Farmers' Welfare.
Indian farmers have planted 69.2 million hectares with summer crops, up 21.2% from this time a year earlier, according to the Ministry of Agriculture & Farmers` Welfare, boosted by bountiful monsoon rains that spurred sowing in most parts of the country.
Farmers typically start planting their summer-sown crops June 1, when monsoon rains usually reach India. Planting usually continues until the end of July or early August.
Planting of rice, the key summer crop, was at 16.8 million hectares as of July 17 versus 14.2 million hectares in the previous year, the ministry said.
See Zee Business Live TV streaming below:
The area planted with cotton was at 11.3 million hectares versus 9.6 million hectares the prior year.
Planting of overall oilseeds, including soybean - the main summer oilseed crop - was at 15.5 million hectares, up from 11 million hectares from the previous year.
Soybean sowing in India, the world`s biggest buyer of cooking oils, looks likely to jump by at least 15% in 2020.
Sugarcane sowing in the world`s biggest sugar producer reached 5.1 million hectares compared with 5 million hectares last year.
The figures are provisional and subject to revision as updates arrive with the progress of the June-September monsoon season.
The world`s leading producer of most farm goods has received 10% above average rainfall since June 1.
India`s state-run weather office defines average, or normal, rainfall as between 96% and 104% of a 50-year average of 88 cm for the entire four-month season.
Water levels in India`s main reservoirs are substantially higher thanks to higher-than-average rains so far in the season, according to the latest government data.
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.
RECOMMENDED STORIES
Power of Compounding: How long it will take to build Rs 5 crore corpus with Rs 5,000, Rs 10,000 and Rs 15,000 monthly investments?
Small SIP, Big Impact: Rs 1,111 monthly SIP for 40 years, Rs 11,111 for 20 years or Rs 22,222 for 10 years, which do you think works best?
SBI 444-day FD vs PNB 400-day FD: Here's what general and senior citizens will get in maturity on Rs 3.5 lakh and 7 lakh investments in special FDs?
Rs 3,500 Monthly SIP for 35 years vs Rs 35,000 Monthly SIP for 16 Years: Which can give you higher corpus in long term? See calculations
01:39 PM IST