He said instead of focusing on wheat and rice, cultivation of 3Ms maize, moong and mustard should be promoted as it can help the country attaining self-sufficiency and enhancing income of farmers
Gains for farmers, but retail and wholesale inflation likely to be impacted
Foodgrains production is estimated to reach an all-time high of 316.06 million tonnes (kharif and rabi crops), which is 1.71 per cent more than last year
Overall, rabi crops have been sown in around 26.06 million hectares till November 11, which is 21.43 per cent more than the area covered during the same period last year
Hikes are in line with long-standing govt policy of encouraging oilseeds and pulses cultivation to meet rising demand and deter farmers from growing wheat and rice which are already in abundance
India imports around 9 million tonnes of palm oil annually, mainly from Indonesia and Malaysia.
For the month ahead mustard prices are expected to head towards Rs 4,400
Mustard seed prices are expected to trade with a downward bias in the coming days
Chana prices are expected to move higher on the back of delayed crop and weather risk supporting the sentiments
For chana, officials said a decision on direct purchase could be taken in the next few days. The procurement would be done through NAFED, SFAC, and Food Corporation of India