Dearness
There is good news on the inflation front. The hope of common people getting relief from inflation has increased. In fact, this year (till 13 September) India has received 8 percent more rainfall than the long-term average. Due to this, the average retail prices of vegetables and milk may see a decline in the coming time. This information was given in a report released on Monday. The report released by MK Global Financial Services said that now sowing is almost complete. Now the focus has shifted towards the harvesting season.
Sowing area increased due to better monsoon
A total of 109.2 million hectares of area has been sown till September 6 this year, registering a 2 percent year-on-year growth over last year. The report said that good sowing of all major crops has been seen this season. Rice has been sown in 41 million hectares, pulses in 12.6 million hectares, coarse cereals in 18.9 million hectares and oilseeds in 19.2 million hectares. The total area sown is 99 percent of the normal sown area, while this figure was 98 percent in 2023.
Increase in supply will reduce prices
The report said that due to excess supply, prices have seen a decline recently and prices may remain stable here for some time, until new supply comes into the market. Aditi Gupta, economist at Bank of Baroda, says that most parts of the country have received normal or better than normal rainfall. Due to this, there has been an increase in the water reserves in the dams. The sowing area of Kharif crop has increased by 2.2 percent compared to last year. This year so far, a combined 817.9 mm of rain has been received, last year this figure was 684.6 mm.
Input: IANS
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