The government is expecting the Indian summer crop to be at around record high of 150.50 million tonnes.
While most of the crops are looking higher than the previous year, India is also looking at record rice crop yet again this time at around 107 million tonnes.
In an interview with Manisha Gupta, Siraj Chaudhry, MD & CEO of NCML, said record harvest at high commodity price cycle is good news for the country as well as the farmers.
"These numbers from the government are an encouraging sign but from our own view these numbers are a little on the higher side. Overall these numbers are good news. We are fortunately in a high commodity price cycle, while there will be some tempering of prices because of the harvest season coming on but overall the price table is good. So it is good news for the country as well as the farmers."
He expects government procurement to be lower this year as prices are higher than MSP.
"This year I expect lower government procurement because the need for government procurement may not be there. Government procurement is done to help the farmers when the prices are below MSP or below a certain level. Government is only stepping in to solve a problem and if you don't have a problem, it is a reason to be happy and celebrate."
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