Monsoon revival pulls down farm commodity prices, kharif recovery seen

India has witnessed a record food grain output with an overall growth of 15 per cent in the past three years

Revival in rainfall this monsoon season has pulled down the prices of agricultural commodities during the past three days on expectations of a recovery in kharif output and favourable climatic condition for the rabi harvest for 2020.

The benchmark Agri Index (NKrishi, earlier known as Dhaanya) of the National Commodity and Derivatives Exchange (NCDEX) declined by over one per cent on Wednesday following incessant rainfall across the country over the past two days. The index has posted around 2.5 per cent slump in the first three days of September, posing a risk of a further decline in farm prices.

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