Moneycontrol
Last Updated : Sep 27, 2018 10:22 PM IST | Source: CNBC-TV18

Hopeful of agri exports crossing $40 billion by year-end, says agriculture secretary

The country has so far received 9 percent lower rainfall than normal in the current monsoon season.

CNBC TV18 @moneycontrolcom

Talking about agri exports, Shobhana Pattanayak, agriculture secretary, in an interview with CNBC-TV1, said the government has brought out a new export policy and over the last few years the level of exports has been around $37 billion.

Pattanayak added that the government is hopeful of exports crossing $40 billion by the end of this year and $60 billion by 2022.

The country has so far received 9 percent lower rainfall than normal in the current monsoon season.

Pattanayak also said the excess rainfall in and around Delhi has affected vegetables but fortunately has not damaged the main crop.

The monsoon, which delivers 70 percent of India's annual rainfall, is critical for 263 million farmers and their rice, sugarcane, corn, cotton and soybean crops because nearly half of the country's farmland lacks irrigation.

Discussing the impact of monsoon deficit, Pattanayak said, "It is not the quantum of rainfall that determines the output but the spread of rainfall is more important and the interval at which it comes."

"In India except for parts of Gujarat and Peninsular India the rainfall has been good. Though rainfall was lacking behind in parts of eastern UP in Bihar at the beginning, which led to paddy getting delayed, it has now been made up and the first advance estimates predicts an output of more than one million tonne over last year’s output," Pattanayak said.

 

With inputs from Reuters

Source: CNBC-TV18 
First Published on Sep 27, 2018 10:22 pm

tags #Economy

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