NIFTY 50

Jayant Agro says drought may impact groundnut, cotton production

Updated : April 16, 2019 01:46:05 IST

Chemical industry company Jayant Agro-Organics on Tuesday said drought may impact the cultivation of groundnut, cotton but area for castor seed may go up.

"If we have deficient rainfall or drought, the only advantage for castor is that we could see the area of cultivation expanding but any delay in monsoon could have an impact on groundnut, cotton and edible oil space," said Vikram Udeshi, CFO, Jayant Agro-Organics

Meteorological Department (IMD) on Monday said India is likely to receive near-normal monsoon rains in 2019, easing concerns over farm output and economic growth in Asia’s third-biggest economy where half the farmland lacks irrigation. The IMD defines average or normal rainfall as between 96 percent and 104 percent of a 50-year average of 89 cm for the entire four-month season.

"The predicted 96 percent forecast is a relief but one does not know if it will solve all the problems as we don’t know the pattern, groundwater at some places is already very deep," Udeshi said. "So there is a long deficit which needs to be made up and we also need to cover for the current year," he said.
cnbc two logos
To keep watching CNBC-TV18, India's No. 1 English Business News Channel, call your Cable or DTH Operator and subscribe now for just Rs. 4 per month. You can also subscribe to CNBC-TV18 Prime HD for Re 1/- per month.Find out more
Live TV

recommended for you