Commodity Research and Analysis

The country has produced record wheat, rice, pulses and oilseeds in 2007-08, according to the fourth advance estimates of foodgrains released on July 9. The total foodgrains production for the year is a record 230.67 million tonnes, up 6.16 per cent over the previous year. Crops like maize and cotton have also seen a record output. The higher minimum support price (MSP) for various crops along with other government efforts under the National Food Security Mission (NFSM) have provided incentives to the farmers to expand the area under production. The prospect of various crops in the ongoing kharif season is good since the monsoon has set in early and by and large sowing is better than last year. Besides, the high ruling prices of agricultural commodities are expected to lead to higher plantings and increased use of yield-enhancing inputs