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On July 17, 2023, India’s Ministry of Fisheries, Animal Husbandry and Dairying/Department of Animal Husbandry and Dairying (DAHD), published Office Memorandum (OM) L-11/1/2019-Trade (E-11542).
The recovery of the 2023 southwest monsoon from third week of June and forecasted normal precipitation in July will support ongoing planting of kharif (fall harvested) season crops.
Report highlights: On June 28, 2023, the Cabinet Committee on Economic Affairs updated its Fair and Remunerative Price (FRP) for sugarcane marketing year (MY) 2023/2024 from INR 305 per quintal (USD $3.72/quintal) to a new high of INR 315 per quintal (USD $3.84/quintal). The new FRP will take effect starting October 1, 2023.
India’s Meteorological Department (IMD) continues to forecast a normal 2023 southwest monsoon, according to a second forecast report issued on May 26, predicting that June through September rainfall will likely reach 96 percent of the long period average (LPA)/fifty-year average of 870 millimeter (mm).
FAS Mumbai estimates marketing year (MY) 2023/24 India cotton production at 26 million 480 lb. bales on 12.7 million hectares planted, a decrease from the previous year on the expectation that farmers will shift cotton acreage to higher return crops such as oilseeds and pulses.