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Chart of the Day: Kharif sowing is mixed this year

Key driver would be a sustained improvement in both quantum and dispersion of rainfall in the crucial month of August

August 02, 2022 / 10:27 AM IST

The crucial kharif sowing is almost coming to an end now. Nearly 80 percent of sowing gets concluded by July and the trend so far is mixed. As the chart from IDFC First Bank research shows, sowing progress for select crops remain near the same level as last year. But rice sowing has plummeted this year compared with last year.

One of the key reasons has been uneven distribution of the southwest rainfall across India. Rainfall has picked up in July but is still in deficit compared with long period average. Total sowing area is just 2.2 percent higher than last year, a weak trend according to some economists. For rice, deficient rainfall in West Bengal which accounts for nearly 13 percent of output has meant that sowing is weak. This does not bode well for food prices unless spatial dispersion of rain improves in August. Prices of food items have cooled somewhat in July as bulk of the sowing gets over. Reservoir levels too give comfort on the outlook of prices. That said, the key driver would be a sustained improvement in both quantum and dispersion of rainfall in the crucial month of August.
Moneycontrol News
first published: Aug 2, 2022 10:27 am
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