The monsoon since the third week of July across the country had given the much-needed impetus to kharif crop sowing and the oilseed crops, with the area planted under them almost equaling the last year’s level of 15.5 million hectares. Major area gain has taken place in soybean, which has already been planted on about 9.13 million hectares, against last year’s 8.3 million hectares, though most other oilseed crops, including groundnut, have suffered because of paucity of rains in July but the recent development in the Monsoon becoming denser at the time of Harvesting changed the scenario and though the sowing equaling the last year’s level but production is expected to be declining by 10-15%.


Progressive Kharif Acreage

Over 18 lakh hectares (lh) of area planted under kharif crops in the current year have been affected due to floods till end-August, according to the provisional estimates made by the Home Ministry.
It is difficult, however, to make projections of crop production losses from these estimates but a reasonably reliable guess is that at least 10 lh all over the country, mostly under paddy, have suffered inundation.

The prices of edible oils may soften in the months to come reflecting improved production prospects and, more so, a perceptible downturn in the global prices. The diversion of vegetable oils to biofuel is anticipated to come down due to fall in crude oil prices, improving export supplies of edible oils in the international market.