Commodity Market Update: With the decline in prices of may commodities in India in the past few year along with the drought and flood in some parts of India, which also caused problems has forced the farmers to shift crops. Many farmers in India have adapted the horticulture which ensure a quicker cash flow and can be grown in very small plots, unlike Pulses, which may take more than six months from sowing to marketing. Commercial horticulture crop production In India has reached a record of 300 million tons in the 2016-17 season, as per the third advance estimate. These figures are revised from 295 million tons in the second advance estimate released in May and 4.8 percent higher than the production of 286 million tons attained in the previous year. It will make a fifth straight year with attaining the record horticulture production in 2016-17, which will surpass India’s food grain production. Earlier, the Food Grain production estimate was hiked to 275.7 million tons in 2016-17, which is the highest ever in the history of Indian agriculture.
MCX Live: Gold has dropped 5 points at 29740, Silver is 10 points down at 39788. Crude Oil is 33 points down at 3005. Nickel has hiked 5 points at 759.80, Lead and Zinc have hiked a small amount of points but are trading in the positive zone.