New Delhi: Rice and sugarcane production are not expected to be hit by the poor monsoon rains, food minister KV Thomas said on Thursday.
India, the world’s second biggest producer of rice and sugar, is implementing contingency plans as rains in the current monsoon season are around 22% below average.
Thomas also said the policy of allowing unrestricted overseas sales of farm commodities such as rice and sugar would continue. He has previously said export policy would be reviewed after mid-August when a clearer picture of the monsoon emerges.
He ruled out any ban on farm commodity futures for the time being but said the government has singled out some farm commodities on the bourses which are exhibiting price volatility.