Will the price of rice go down or will it go up?

Rice price: As the country's inflation is on the rise, the price of rice is also rising dramatically. Paddy sowing work is going on in monsoon. According to the information released by the Union Ministry of Agriculture, the paddy sowing area has increased to 166.06 lakh hectares by July 19, 2024. Up to 19 July 2023, paddy has been sown in an area of ​​55.65 lakh hectares. Compared to last year, until now, paddy sowing area has increased by seven percent. In the kharif crop year 2024-25, rice production in India is estimated to be between 1355 lakh metric tonnes and 1380 lakh metric tonnes. Earlier, rice production in 2023-24 kharif crop year was estimated at 1114.58 lakh MT. This year's rice production is estimated to be 265.42 lakh metric tonnes more than last year. If the production of rice this year is higher than last year, its price in the market will come down, and if the monsoon fails after planting rice and the production is not as estimated, the price will also go up. to increase. . Due to good monsoon rains, paddy cultivation has increased by 7 percent to 166.06 lakh hectares in the current Kharif season. Paddy sowing was done in 155.65 lakh hectares till July 19 last year. Overall, the total area under all kharif crops in the current kharif sowing season till July 19 has increased to 704.04 lakh hectares. It was 680.36 lakh hectares during the same period last year. India imports edible oil and pulses to meet domestic demand. If the weather conditions are favorable till harvest, bumper production can be achieved by increasing the area under pulses and oilseed crops. Rice production in 2023-24 is estimated at 1114.58 lakh metric tonnes in 2023-24, up 9.46 lakh metric tonnes compared to 1105.12 lakh metric tonnes, according to data released by the Ministry of Agriculture. Rabi rice production is estimated at 123.57 lakh MT. Also Read: Hardik Pandya's property in whose name and where he gets income Rice production in 2024-25: According to a report by S&P Global, India's rice production in 2024-25 (rice production in India) this year (July-June) is 1355 lakh metric tonnes to 1380 lakh metric tonnes is expected to reach a record level. This is due to the possibility of gradual increase in La Niña effect from August to September. A strong 2024-25 harvest by the world's top exporter is expected to trigger a downturn in the global rice market, including price cuts and a rollback of restrictive trade policies. If India produces 1,355 lakh metric tonnes of rice in 2024-25, it will equal the record output of 2022-23, according to an S&P Global report. If this happens, the retail price of rice in India is expected to fall. Also read: PM Kisan: Rs 650 crore change in accounts of 65 lakh farmers, check accounts soon The post Will rice become cheaper or will its price rise, if paddy area increases by 7 percent, how much will be produced? Prabhat appeared first in Kabar.