India’s rice sown area slips on slow monsoon rains

According to data from the Indian Ministry of Agriculture, as of July 5, India’s rice sown area was 27% lower than a year earlier due to poor monsoon rainfall progress in June, while the total summer grain sown area was 5% lower than a year earlier.

The cumulative rainfall for the period June 1 to 30 was 152.3 mm, 8% below the long-term average. Analysts noted that the lack of monsoon rainfall may affect rice production. So far, Indian rice prices have been stable, but any decline in rice production could lead to higher domestic and international rice prices.

Source: BoE Guru

Post time: Jul-11-2022