Sunday, March 24, 2019

Paddy harvest to hit record high

Paddy harvest – in the current fiscal year – is expected to hit a record high of 5.61 million tonnes this fiscal year due to better-than-expected rainfall, according to the Agriculture Ministry. The bumper crop is expected 9 per cent increase from last fiscal year, reveals the preliminary statistics.
The statistics reveals that Nepal’s paddy productivity is expected to increase to a record high of 3.8 tonnes per hectare in the current fiscal year, up from 3.5 tonnes in the last fiscal year 2017-18. The country’s average productivity is 3 tonnes per hectare.
Based on the average price of Rs 21 per kg, the current fiscal year’s projected paddy harvest is worth more than Rs115 billion, excluding the value of byproducts like straw and bran which reaches billions of rupees, the ministry claims.
The bumper growth in paddy – the most common cereal crop – production is also expected to increase the agriculture sector’s growth in the current fiscal year pushing the overall GDP growth up as the agriculture contributes to around 30 per cent to the economic growth. The government – through the budget – has tragetted to achieve 8 per cent GDP growth in the current fiscal year.

1 comment:

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