India gets excess rainfall in June; ideal condition for sowing, says National Collateral Management

Based on the algorithm used for sowing condition, 60 percent of the country has received ideal sowing condition rainfall, said Siraj Chaudhry, MD & CEO of National Collateral Management Service, on Thursday.

The month of June has seen 33 percent excess monsoon till now and the sowing has begun faster as well. Sowing, compared to last year, is 38 percent on the higher side and compared to 2019 it's 24 percent on the higher side.

Speaking in an interview with CNBC-TV18, Chaudhry said, “Based on an algorithm that we use for sowing condition, 60 percent of the country has received ideal sowing condition rainfall and we still got a few days to go so sowing should have started in certain areas and would be catching up soon.”

On food inflation, he said, “In the next couple of months we go into the phase where typically the rabi crop has come into the market and the kharif hasn’t yet come into the market and those are sensitive times where the supply side is constrained and we do see food price inflation play out for pulses and oilseeds.”

For the entire interview, watch the video