Indian farmers expect 10% increase in wheat yield
Indian farmers are forecasting a 10% increase in the country’s wheat yield this year, which, according to government estimates, will allow us to expect a record 115 million tonnes of total production, although some traders expect more modest figures – in the range of 104-106 million tonnes, Investing.com reports.
As noted, additional support for the market is provided by the minimum price premiums (MSP) introduced in some Indian states, due to which the purchase price of wheat in Gujarat has risen to Rs 2,550 per quintal, and for high-quality wheat varieties in Madhya Pradesh farmers receive up to Rs 3,000.
In addition, early sowing and the use of climate-resistant varieties that can withstand weather fluctuations played an important role in the formation of a good harvest.
It is also reported that the wheat harvest is proceeding quite actively. Thus, in Gujarat, 30% of the area under grain has already been threshed, in Madhya Pradesh – 20%, in Rajasthan – 10%.
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