July 10, 2010

India likely to reap bumper harvest

India is likely to have bumper grain production in the 2010-11-crop year with a good monsoon and a rise in area under cultivation, said Union Agriculture Minister Sharad Pawar.

"The way sowing operation is undergoing and reports of good monsoon from the states, we are likely to have a bumper crop this year," said Pawar.

Pawar further said the decline in prices of agricultural commodities will bring down food inflation, which is pegged at 12.63% at present.

"Prices of most agricultural commodities are coming down. It is great relief to consumers. The trend of food inflation will continue to come down in the coming weeks," said Pawar.

Food inflation declined for the second consecutive week for the week ending on June 26.

On the impact of floods on crops in Punjab and Haryana, Pawar said, "I have talked to concerned states. There is a problem, but in limited areas. I will get a detailed report in a day or two. I don't think the situation is that serious."