New Delhi, July 2 -- Kharif sowing in India is off to a strong start this year, recording an 11.3 per cent year-on-year (YoY) increase and it bodes well for the food inflation outlook for the year, according to a recent report by ICICI Bank.
The growth has been largely driven by a significant rise in rice sowing, which is up 47.3 per cent YoY, and pulses, which have seen a 37.2 per cent YoY jump.
It stated "Kharif sowing is off to a good start (+11.3 per cent YoY) led by rice (47.3 per cent YoY) and pulses (37.2 per cent YoY) which bodes well for food inflation outlook this year".
The report noted that monsoon rainfall gained momentum in the second half of June after being in deficit during the first half.
For the full month of June, ...
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