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origo commodities: Rice output may fall 13 per cent to 96.7 million tonnes in kharif this year: Origo Commodities

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Rice production may drop by 13 percent to 96.7 million tons in the autumn season this year due to reduced rice acreage amid poor rains in some parts of the country, according to preliminary estimates by Origo Commodities. Earlier this week, the Department of Agriculture released the first advance estimates for the fall season of the 2022-23 (July-June) season. According to government data, rice production is likely to decline by 6 percent to 104.99 million tons in the autumn season this year compared to 111.76 million tons in the autumn season last year.

Founded in 2011, Gurugram-based Origo Commodities is an agricultural technology company focused on commodity supply chain, post-harvest management, trade and finance. This is the first time the company has released estimates of fall crops. It will come with a final estimate in November 2022.

Origo Commodities said in a statement that rice production in the fall season 2022-2023 “will decline by 13 percent year-on-year at 96.7 million tons versus 111.17 million tons in 2021-22.”

“Rice planting area has decreased by about 9 percent compared to last year, while the yield is expected to be 5 percent lower than last year. The crop yield has been negatively affected due to lack of rain in Uttar Pradesh, West Bengal and Bihar,” the company said. .

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According to Origo Commodities’ latest estimate, total fall production for 2022-23 is estimated at 640.42 million tons, which is 2 percent lower than the same period last year.

The statement said that Khareef’s total production is estimated to be lower due to a possible decline in the production of rice, groundnuts, castor, jute and sugarcane.

Origo expects cotton production to increase 8.5% to 34.2 million bales (170 kg each) versus 31.5 million bales in 2021-22, while soybean production could rise 4.5% at 12.48 million tons versus 11.95 million tons in 2021-22.

Soybean acreage is almost flat compared to last year, while yields are estimated to be 4.7 percent higher than last year given the positive rainfall distribution in major soybean-producing states this year. PTI MJH HVA

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