IANS | 18 Jul, 2023
Deficient rainfall and the consequent lower sowing of rice and pulses have pushed prices higher.
Kharif
sowing as of July 14 stood at 1.6 per cent lower than last year. This
is mainly due to lower sowing of rice and pulses, Motilal Oswal
Financial Services said in a report.
The
area under paddy cultivation is still 6.1 per cent lower than last
year. The area under pulses is 13.3 per cent lower than last year.
Productions of oilseeds, jute and cotton are also lower.
On the other hand, coarse cereals (+18.1 per cent YoY) and sugarcane (+4.7 per cent YoY) are doing well.
A
deficient monsoon in major rice-producing states (with 49 per cent
share), such as West Bengal (12 per cent below normal), Uttar Pradesh (2
per cent below normal), Andhra Pradesh (15 per cent below normal),
Odisha (28 per cent below normal), Telangana (26 per cent below normal),
Chattisgarh (23 per cent below normal), Bihar (31 per cent below
normal) and Assam (7 per cent below normal), has affected rice sowing
detrimentally, the report said.
Though, states with higher irrigation cover, such as Uttar Pradesh, Andhra Pradesh and Telangana, will be less impacted.
A
deficient monsoon in major pulses-producing states (with 33 per cent
share), such as Maharashtra (12 per cent below normal), Karnataka (2 per
cent below normal), Andhra Pradesh (15 per cent below normal),
Jharkhand (28 per cent below normal) is affecting sowing of pulses
adversely.
Lower
irrigation cover in all the major states that produce pulses would
affect pulses production more. Inflation in pulses has nearly doubled in
the past five months. It stood at 6.6 per cent in June, the report
said.
Deficient
rainfall, and consequently lower rice and pulses sowing, has pushed
prices higher. Rice constitutes around 4.4 per cent and pulses have a
weight of 6 per cent in the overall CPI basket.
Cumulative
rainfall until July 15 was on a par with normal compared with a 2 per
cent surplus as of July 9 and 14 per cent above normal last year.
However, the distribution of rainfall remains uneven.
Apart
from the northwest region (49 per cent above normal) and central India
(1 per cent above normal), all other regions have witnessed below normal
rainfall.
The
rainfall in the southern peninsula is at 22 per cent below normal. The
eastern and northeastern regions have witnessed a deficit of 19 per
cent.