 "Centre targets record over 270 mn tonne foodgrains production in 2016-17")
India hopes to produce a record over 270 million tonnes of foodgrains in 2016-17, almost 18 million tonnes more than the third advanced estimate of 2015-16 if monsoons turn out as per expectation.
According to agriculture minister Radha Mohan Singh, rice production has been targeted at 108.50 million tonnes, while wheat production has been targeted at 96.50 million tonnes. Wheat production in 2015-16 is expected to be over 94 million tonnes.
Meanwhile, in a related development, fertiliser major IFFCO today slashed the price of DAP fertiliser by Rs 50 per bag to Rs 1,200 as a gift to the farmers as the cooperative is entering its golden jubilee year. Di-ammonia phosphate (DAP) is the most widely used fertiliser after urea.
Iffco has five fertiliser plants in the country and it has a combined capacity of 4.24 million tonnes of urea and 4.38 million tonnes of complex fertilisers.
