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Despite the uncertainties of 2022, Indian Agricultural prospects look bright

by Riya Mishra

Date & Time: Jan 12, 2023 8:00 PM

Read Time: 2 minute


Introduction
2022 was a bittersweet year for the Indian agricultural landscape. Weather uncertainties were among major concerns for agriculturalists and farmers as irregular rainfall and exposure to sunlight affected the optimum production levels of certain major crops. The ongoing Russia-Ukraine war was the key reason for the unexpected rise in prices of wheat and sunflower oil, further pushing the existing rates of other food commodities such as vegetable oil, corn, soybean, and soybean oil.

Impact on agricultural performance

The state of Indian agriculture practice in 2022 was decent at best, but worrying overall. Already, the demand for food in India is high, and it is projected to grow even more in the coming years if the current scenario plays out longer than anticipated.

With the prices of certain basic and essential food items such as rice, wheat, and vegetable oil remaining slightly higher, addressing farmers’ interests across the country, specifically in the west, north, and northeast will continue to remain an important priority in 2023 as well.

Seeing the performance of 2022, the agriculture sector fared better thanks to the immediate risk management policies implemented by the Indian government. Among these was the ban on Wheat exports starting in May. The ban was implemented owing to domestic production and supply issues.

Expert Ashok Dalwai, CEO of the National Rainfed Area Authority spread some positivity in his statement, highlighting the recovery potential of Indian agriculture practices, along with the prospect of year-round consumption crops such as wheat seeing a much-needed recovery in terms of higher production rates in 2023.

India managed to achieve about 315.72 million tonnes in food grain production between 2021 and 2022, slightly surpassing the 2020-2021 year high of 310.74 million tonnes, as per accessible government data.

However, 2022 also saw a slight decline in wheat production levels as only about 106.84 million tonnes in wheat production was achieved in comparison to 2021 during which 109.59 million tonnes in wheat production was recorded.

Despite the slight deficit in wheat production, Indian government initiatives like Pradhan Mantri Fasal Bima Yojana and Pradhan Mantri Kisan Samman Nidhi worked to fulfill the losses suffered by farmers as a direct consequence of abnormal weather conditions and inflation.

The current rate of population growth will significantly impact the Indian agriculture sector, pushing the country to adopt new technology and crop management methods to meet the growing demand for its rabi as well as Kharif crops.

Managing inventory of the above-mentioned food products will keep extreme inflation away keeping the prices just about affordable for millions to purchase.

Conclusion

Keeping in mind this year’s overall report and analysis of the Agricultural sector, the Indian government will need to keep progressing with its efforts to counter hyperinflation on essential consumption commodities as worries for a potential global recession looms over the world economy. As the importance of widespread modern farming techniques also continues to take shape, a huge population of Indian farmers will require the necessary tools to improve and develop alongside as well, something which is needed as we head towards the next decade.

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