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LATEST NEWS UPDATES | Record wheat, foodgrain output likely in 2016-17 -Sanjeeb Mukherjee

Record wheat, foodgrain output likely in 2016-17 -Sanjeeb Mukherjee

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published Published on Feb 16, 2017   modified Modified on Feb 16, 2017
-Business Standard

Agri growth could top 5% this year on the back of record output

Wheat production in the ongoing crop season is expected to be at an all-time high of 96.6 million tonnes (mt) on the back of good southwest monsoon, favourable weather and record acreage, the second advanced estimate for foodgrain production showed.

The previous wheat production high was in 2013-14 at 95.85 mt; that was also a normal monsoon year. Wheat produced in 2016-17 (July to June) will be marketed in 2017-18 (April to March).

The estimate released on Wednesday also showed that overall foodgrain production, including kharif harvest, in 2016-17 was expected to be a record 271.98 mt, showing that demonetisation didn’t have a big impact on rabi crops.

If the production numbers turn out to be correct, agriculture and allied sector growth in 2016-17 could reach more than 5 per cent. The Central Statistics Office (CSO)’s had pegged growth at 4.1 per cent in the first advanced estimate of 2016-17. Agri growth in previous financial year was at 1.2 per cent.

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Business Standard, 15 February, 2017, http://www.business-standard.com/article/economy-policy/record-wheat-foodgrain-output-likely-in-2016-17-117021501141_1.html


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