How was the food production in India this year?<\/b><\/h5>\n
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The production of food grains including rice, wheat, pulses, and coarse cereals is estimated at 316 million tonnes in FY22 which is 8%\u200a more\u200a than\u200a the\u200a five-year \u200aaverage.\u00a0<\/span><\/p>\n In addition, oilseed production is estimated\u200a at\u200a over\u200a37\u200amillion tonnes, 12% higher than the five-year average.\u00a0<\/span><\/p>\n Sugarcane production too is set to rise by 10% compared to the five-year average.\u00a0<\/span><\/p>\n The higher production of pulses and oilseeds is a relief since India is dependent on imports to meet domestic consumption.<\/span><\/p>\n This is particularly true for oilseeds, where India is acutely dependent on imports to meet half of its domestic requirement.<\/span><\/p>\n The foremost risk is rising crude oil prices, which crossed $95 a barrel, the highest since 2014, amid heightened tensions between Russia and Ukraine.\u00a0<\/span><\/p>\n High oil prices lead to higher fertilizer and input costs for farming<\/strong>, diversion of food crops<\/strong> to produce biofuels and high shipping costs<\/strong>. Hence, it will likely impact food prices.<\/span><\/p>\n Except for oilseeds and pulses, India is largely self-sufficient in food production.\u00a0<\/span><\/p>\n Massive public stocks of rice and wheat<\/strong>:\u00a0This can be off-loaded via the public distribution system or through open market sales when prices rise.\u00a0<\/span><\/p>\n Rising crude and fertilizer prices may also force the Center to reduce the higher fertilizer subsidy bill<\/strong> to keep farming costs in check.<\/span><\/p>\n Source: <\/b>This post is based on the article <\/span>\u201cWhat does record food production mean for India?\u201d <\/b>published in <\/span>Livemint <\/b>on <\/span>21st February 2022.<\/b><\/p>\n","protected":false},"excerpt":{"rendered":" What is the News? Food production in India is estimated to touch a record 316 million tonnes in 2021-22, 8% \u200amore\u200a than\u200a the\u200a five-year \u200aaverage.\u00a0 How was the food production in India this year? The production of food grains including rice, wheat, pulses, and coarse cereals is estimated at 316 million tonnes in FY22 which… Continue reading What does record food production mean for India?<\/span><\/a><\/p>\n","protected":false},"author":10317,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[1566,3127,9],"tags":[10501],"class_list":["post-169988","post","type-post","status-publish","format-standard","hentry","category-daily-factly-articles","category-economy","category-public","tag-live-mint","entry"],"jetpack_featured_media_url":"","views":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts\/169988","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/users\/10317"}],"replies":[{"embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/comments?post=169988"}],"version-history":[{"count":0,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts\/169988\/revisions"}],"wp:attachment":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/media?parent=169988"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/categories?post=169988"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/tags?post=169988"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}What does this mean for retail food prices?<\/b><\/h5>\n
What are the risks going ahead?<\/b><\/h5>\n
What steps the government should take?<\/b><\/h5>\n