The third advance estimates for 2007-2008 crop year were released, which showed that India’s total foodgrain production in this crop year is around a record of 227.32 million tonnes. This estimated figure is about 10 million tonnes more than what was achieved the previous year. The centre’s third advance estimates for the crop year (June-May) was released on Tuesday, April 22, 2008.

 

Agriculture and Cooperation Secretary, PK Mishra revealed that the assessment was based on feedback from the states and validated by information from other sources. All major crops including wheat, rice and pulses, according to Mr. Mishra, are going to have an all time record production, which he attributed to improved weather conditions and well distributed rainfall.

 

The government officials feel that the positive estimates would have a ‘sobering effect’ on the prices of food grains. This will further send encouraging signal to traders as well as the international market. With a three year high inflation, the higher estimates of total foodgrain production is believed to consolidate India’s position in terms of food security and prices.