Annual production of Onion set new record in India
According to National Horticultural Research and Development Foundation (NHRDF) In India Rabi Crop probably show good signs in coming time as it is likely to increase by 15-20 percent this year. Online which considered as a politically sensitive crop in the country Indian set for a Golden Harvest this year.
At this rate of increase in acreage Onion output in India could hold the new records in this year i.e. Over 20.6 million tonnes. Which is nearly 1.2 million from the previous year and surpassing the earlier record of 19.40 million tonnes in the year 2013-14.
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In current crop year i.e. (July 2015-June 2016) Online sowing area is likely to touch new record high at 1.26 million hectares in India. Which is nearly 9-12 percent higher that last year which is 1.49 million hectares.
According to The Business Standard quoted R P Gupta, director, NHRDF, "The overall onion production during 2015-16 is expected to increase 10-15 percent, provided the current favourable climatic conditions continue throughout the rest of the season till harvesting,".
The increase in Onion annual output may be the good news for commodity market traders in the difficult time for Crude Oil. Crude Oil rates experiencing 10 years low it is expected that it will continue in coming days. Government taking some crucial steps to make the things better as according to government body the global oil and gas industry will reduce capital spending and work toward leaner budgets in 2016.
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