Rabi crop outlook indicates record food grain production says NCML

NEW DELHI: "The rabi crop outlook for 2019-20 is expected to be good and we expect modest food inflation, which is good for both business as well as for farmers", said Sanjay Kaul, Chairman, National Collateral Management Services Limited (NCML).

The post-harvest management company, in its first estimates for 2019-20, have said that there is a record food grain production led by the wheat crop, along with corn and jowar. “Given the present agri situation in the country, critical reforms to spur private investment are imperative,” said Kaul on the sidelines of the launch of the 11th edition of the India Commodity Year Book 2020 released by NCML in association with Federation of Indian Chambers of Commerce and Industry (FICCI).

Ramesh Chand, member, Niti Aayog, at the launch said that adopting agricultural reforms will help states get more funds from the Centre as the 15th Finance Commission has, for the first time, included implementation of agri reforms as one of the parameters for gauging the performance of states.


He further stated that, “the agriculture sector is witnessing growth, but due to an increase in cost of production, India is losing export competitiveness. When you increase the yield, the average cost of production also increases, and farmers will start asking for higher prices. This factor has started affecting the Indian agriculture sector.”

The book covers four broad themes – the present commodity space, the recent initiatives in technology and innovation in agriculture, the new emerging areas and the critical theme of managing commodity risk.

Commenting on the occasion, Siraj Chaudhry, MD & CEO, NCML, said that he expects that the book will offer readers deep insight into the commodities market and help them understand the latest developments in the agriculture and commodity landscape.