This year's monsoon has brought enough relief to the farmers and the government, which was worried about the rising inflation due to food supply problems in the country.
According to Krishi Bhawan officials in New Delhi, due to the well-distributed rainfall this monsoon, kharif production is set to rise perceptibly and consequently the net sown area will also increase.
According to figures available with the Krishi Bhawan, kharif crops have already been sown in an additional 3.5 million hectares and the sowing is still continuing.
Major acreage gains are reported in pulses (8.8 per cent), oilseeds (8.2 per cent), cotton (6 per cent) and sugarcane (5.6 per cent).
The good production estimates are already making their impact on price trends of different agro-commodities.
The prices of moong, which had touched record highs, have started dipping as the area under this crop has gone up by over 34 per cent. Oilseeds like groundnut and soybean, whose acreage has grown 15 per cent and 8 per cent respectively, are also projected to fall.
While cotton prices would be guided more by export prospects and international prices, those of coarse cereals are expected to stabilise as the acreage under maize and jowar has risen by 5.5-6 per cent.
However, the situation regarding paddy, the key kharif staple cereal, is still unclear. Its sowing is lagging by about 1 per cent from last year's level.
But, considering good crop stand and availability of water, yields may be relatively higher.
The decline in area is confined largely to Karnataka (11 per cent) and Uttar Pradesh (7 per cent), though it has also gone down by about 2 per cent in Punjab. This trend is attributed to diversion of paddy acreage to high value crops in response to demand from retail chains and processing industries.
The total monsoon rainfall, as well as its spread, between June 1 and mid-August has been nearly ideal for agriculture.
Not only has this been about 5 per cent above normal, but it has also distributed rather evenly throughout the country.
Region-wise, the rainfall has been 18 per cent above normal in south peninsular India and 10 per cent above normal in central India. Elsewhere, it has been below normal, but only marginally about 4 per cent in the north-west and just 1 per cent in the north-east.
Compared to previous years, this year's rainfall is far better in its distribution in terms of both time and space.
The country's overall hydrological scenario remains fairly satisfactory though, for the first time this season, the total water stock of 80 major reservoirs has dropped below the last year's corresponding level by about 10 per cent.
But, it is still some 34 per cent above normal. About 70 of these 80 reservoirs reported above 80 per cent storage on August 16, with as many as 8 being 100 per cent full.