Professional Documents
Culture Documents
Agriculture September 20161
Agriculture September 20161
DECEMBER 2015
SEPTEMBER
2016
AGRICULTURE
Executive Summary..3
Advantage India.... 4
Growth Drivers.....18
Opportunities....35
Useful Information.......... 45
DECEMBER 2015
SEPTEMBER
2016
AGRICULTURE
EXECUTIVE SUMMARY
2nd largest
At 157.35 million hectares, India holds the second largest agricultural land in the world
agricultural land
Favourable climatic
With 20 agri-climatic regions, all 15 major climates in the world exist in India. The country
also possesses 46 of the 60 soil types in the world
In FY2015, total food grain production in India was recorded at 252.68 million tonnes ,
which increased to 253.16 million tonnes in FY16.
India is the largest producer of spices, pulses, milk, tea, cashew and jute; and the second
largest producer of wheat, rice, fruits & vegetables, sugarcane, cotton and oilseeds
India is one of the largest manufacturers of farm equipment such as tractors, harvesters
and tillers. India accounts for nearly one-third of the overall tractor production, globally,
with the tractor production in the country estimated to increase from 0.57 million units in
FY16 and reach to 16 million units by 2030.
conditions
Record production of
food grains
Largest producer of
major agricultural and
horticulture crops
Increasing farm
mechanisation
DECEMBER 2015
SEPTEMBER
2016
AGRICULTURE
ADVANTAGE INDIA
DECEMBER 2015
SEPTEMBER
2016
AGRICULTURE
ADVANTAGE INDIA
Robust demand
Growing demand
FY2016
Food grain
production:
253.16
million
tonnes
Attractive opportunities
Competitive advantages
Advantage
India
DECEMBER 2015
SEPTEMBER
2016
2020-21
Food grain
production:
280.6
million
tonnes
Policy support
AGRICULTURE
AGRICULTURE
EVOLUTION OF AGRICULTURE IN INDIA
2000 onwards
1980-2000
1960-80
1950s
Pioneering work of
agricultural scientists
and efforts of farmers
led to Green Revolution
High Yield Variety
Stagnation in
(HYV) of seeds,
agriculture
increased use of
Low growth in crop
fertilizers and irrigation
and grain production
resulted in a significant
(0.4 and 0.1 per cent
spike in production
p.a.)
Attained food security
Food grain production
and reduced import of
of 59.2 MT in 1952
food grains
53, with a yield of
579.8 kg/ha
DECEMBER 2015
SEPTEMBER
2016
Expanding cereal
production
Economic reforms
introduced; greater
encouragement to
exports
Surplus of production of
agricultural commodities
over domestic demand
India emerges as a net
exporter of agricultural
products
Increase in population
and strong income growth
AGRICULTURE
SCHEMES INITIATED BY THE GOVERNMENT
Agricultural Technology Management
Agency (ATMA)
(PMKSY)
(PKVY)
DECEMBER 2015
SEPTEMBER
2016
AGRICULTURE
GROWTH IN AGRICULTURE (1/2)
GDP by value added size of agriculture and allied
activities (USD billion)
259.23
141.77 139.39
137.17
FY07
FY08
FY09
FY10
244.74
157.35 160.80
140.77 132.71
FY11
FY12
FY13
FY14
FY15
FY16
DECEMBER 2015
SEPTEMBER
2016
AGRICULTURE
GROWTH IN AGRICULTURE (2/2)
CAGR: 8.6%
36.41
33.50
DECEMBER 2015
SEPTEMBER
2016
26.30
27.60
28.10
29.10
FY09
FY10
FY11
29.80
20.40
FY07
FY08
FY12
FY13
FY14
10
AGRICULTURE
MAJOR SEASONS: KHARIF AND RABI (1/2)
There are two major agricultural seasons in India: Kharif
and Rabi
CAGR: 1.11%
DECEMBER 2015
SEPTEMBER
2016
126.31
123.99
128.24
129
126.38
132
124
128
131
124
114
116
121
50
104
118
121
200
110
128
300
FY08
FY09
FY10
FY11
FY12
FY13
FY14
FY15
FY16
0
Kharif
Rabi
11
AGRICULTURE
MAJOR SEASONS: KHARIF AND RABI (2/2)
Area Sown in FY171 (lakh hectares)
Kharif
Rabi
27.04
101.96
22.41
45.77
7.56
Rice
77.43
372.95
Wheat
Pulses
292.52
142.02
Coarse Cereals
Oilseeds
Oil Seeds
Pulses
Coarse Cereals
Cotton
Rice
Sugarcane
Jute & Mesta
139.08
179.6
184.13
Source: Ministry of Finance, Ministry of Agriculture, TechSci Research
Notes: FY171 Data till September 2016
DECEMBER 2015
SEPTEMBER
2016
12
AGRICULTURE
PRODUCTION OF RICE AND WHEAT ON THE RISE
Production and yield of wheat and rice
3.5
100
3
2.5
93.82
103.61
88.94
104.8
95.85
106.29
93.51
105.2
94.9
105.3
40
86.9
96
60
80.8
89.1
80
80.7
99.2
120
78.6
96.7
20
2
1.5
1
0.5
DECEMBER 2015
SEPTEMBER
2016
13
AGRICULTURE
FRUIT AND VEGETABLE PRODUCTION CONTINUES TO INCREASE
India ranks 2nd in global production of fruits and vegetables, and is a leading exporter of mangoes and bananas. The country
also exports grapes in a large quantity across the world.
National Horticulture Mission, National Horticulture Board, Technology Mission for Integrated Development of Horticulture in
North-East are some of the initiatives taken by the Government of India to boost the horticulture sector of the country
The National Horticulture Board has launched a new capital investment subsidy scheme for construction and expansion of
cold storages and storages of horticulture products
During FY05-16, horticulture production in India grew at a CAGR of 4.91 per cent.
50.0
5.0
0.0
0.0
FY05 FY06 FY07 FY08 FY09 FY10 FY11 FY12 FY13 FY14 FY15 FY16
Production (million tonnes)
DECEMBER 2015
SEPTEMBER
2016
China
India
27818918
14974561
35947720
10.0
26548859
15.0
163388000
282.8
280.5
277.3
214.7
211.2
191.8
182.8
100.0
166.9
150.0
268.8
20.0
257.3
200.0
240.5
25.0
223.1
250.0
137066750
30.0
91293000
CAGR1: 4.91%
300.0
573935000
United States of
Turkey
America
Vegetables(million tonnes)
Source: National Horticulture Board, Assorted Articles, FAO Stat, TechSci Research
Note: 1 - CAGR Mentioned is for Production,
2 - Figure as of 2015
14
AGRICULTURE
SURGE IN DEMAND OF INDIAN AGRICULTURAL PRODUCTS (1/2)
Agricultural exports from India (USD billion)
CAGR: 19%
38.70
32.08
29.20
29.60
24.70
15.60
11.30
4.93
FY10
FY11
FY12
FY13
FY14
FY15
FY16
FY17
DECEMBER 2015
SEPTEMBER
2016
15
AGRICULTURE
SURGE IN DEMAND OF INDIAN AGRICULTURAL PRODUCTS (2/2)
India exported Basmati rice worth USD3.48 billion and 2.31 billion worth of non-basmati rice during FY16
Livestock Products and Fruits & Vegetables are the next largest export items in terms of value; they accounted for 26.8 per
cent and 6.8 per cent, respectively, of total agricultural exports in 2015-162
Guargum meal emerged as major export commodity; the value of exports rose at a staggering CAGR of 45.3 per cent over
FY10 -15
Total agricultural exports from India increased to USD32.08 billion in FY16
4000
3.17
3500
FY11
FY12
553
365
Cashew
Sugar
DECEMBER 2015
SEPTEMBER
2016
Oil Meals
Livestock Products
Guargum Meal
500
665
1000
602
1500
0.33
FY14
FY15
FY16
39
0.55
707
0.43
615
403
0.28
239
218
0.29
405
2000
66
60
2500
1550
1970
3000
2.17
Rice
3.5
3
2.5
2
1.5
1
0.5
0
0
FY10
FY13
FY17
16
AGRICULTURE
KEY AGRICULTURAL STATES AND THEIR CONTRIBUTIONS
Punjab and Haryana were the key
states of green revolution. Punjab
is one of the largest producers of
food grains
Gujarat largest
producer of cotton
(12.5 million tonnes1)
Maharashtra largest
producer of Jowar,
Tobacco and Safflower
Karnataka largest
producer of Sunflower
seed, Maize, Ragi, Coffee
and Cardamom
DECEMBER 2015
SEPTEMBER
2016
17
AGRICULTURE
GROWTH DRIVERS
DECEMBER 2015
SEPTEMBER
2016
AGRICULTURE
GROWTH DRIVERS OF INDIAN AGRICULTURE
growth
Demand-side
drivers
Increasing exports
Favourable
demographics
Growing institutional
credit
Growth
drivers
Increasing MSP
Introduction of new
schemes like
modified seeds
Paramparagat Krishi
Mechanisation
Irrigational facilities
Green Revolution in
Eastern India
Supply-side
drivers
Vikas Yojana,
Policy
support
Pradhanmantri Gram
Opening up of exports
of wheat and rice
Note: MSP - Minimum Support Price
DECEMBER 2015
SEPTEMBER
2016
19
AGRICULTURE
A LARGE POPULATION ENSURES HIGH DEMAND FOR AGRICULTURAL PRODUCTS
1227.19
1243.34
1259.7
1282.39
1293.06
1048
FY11
FY12
FY13
FY14
FY15
FY16
696
864.25
1210.98
FY91
FY01
DECEMBER 2015
SEPTEMBER
2016
20
AGRICULTURE
INCOME GROWTH ALSO DRIVING AGRICULTURE DEMAND
Per capita income at factor cost (USD)
1193.7 1182.9
CAGR: 6.88%
849.0
746.0
793.6
811.6
715.4
714.9
650.0
662.0
FY08
FY09
FY10
FY11
FY12
FY13
FY14
FY15
FY16
DECEMBER 2015
SEPTEMBER
2016
21
AGRICULTURE
GROWING AREA UNDER IRRIGATION (1/2)
Indias irrigation potential has steadily increased over the
years. In FY13 it stood at 139.5 million hectares compared
to 90 million hectares in 1995 and 22.6 million hectares in
1951
59.23
60.84
62.74
63.19
63.64
61.94
63.66
65.69
66.1
84.28
86.75
88.06
88.9
85.08
88.89
91.73
92.58
81.08
FY05
FY06
FY07
FY08
FY09
FY10
FY11
FY12
FY13
DECEMBER 2015
SEPTEMBER
2016
22
AGRICULTURE
GROWING AREA UNDER IRRIGATION (2/2)
Gross irrigated area under food grains
(000 hectares)
Of the wide variety of crops in India, rice and wheat are the
most irrigated
61065
60415
61612 61632
59512
58550
58122
56489
54715
FY05
FY06
FY07
FY08
FY09
FY10
FY11
FY12
FY13
DECEMBER 2015
SEPTEMBER
2016
23
AGRICULTURE
INCREASING MECHANISATION OF FARMING (1/2)
Number of tractors sold
571249
626839
697675
591498
608577
393836
342836
300000
352835
544428
CAGR: 5.5%
FY07 FY08 FY09 FY10 FY11 FY12 FY13 FY14 FY15 FY16
Source: Department of Agriculture and Cooperation,
State of Indian Agriculture 2013-14, ICRA,
A report on Farm Mechanization in India, TechSci Research
DECEMBER 2015
SEPTEMBER
2016
24
AGRICULTURE
INCREASING MECHANISATION OF FARMING (2/2)
Number of tillers sold
CAGR: 8.6%
60000
56000
55000
48000
35294
24791
26135
FY07
FY08
38794
25000
FY09
FY10
FY11
FY12
FY13
FY14
FY15
DECEMBER 2015
SEPTEMBER
2016
25
AGRICULTURE
GROWING YIELD AND USE OF QUALITY SEEDS (1/2)
3435
3517
12
1389.44
8
6
150
158
174
225
107
51.4
97
82
85.81
1000
500
1357.58
1258.55
1550
2000
1791
10
2500
1500
14
3000
1268
3500
80
3001
4000
3473
0
FY07 FY08 FY09 FY10 FY11 FY12 FY13 FY14 FY15 FY16
Foundation seed production ('000 tonnes)
Certified seed production('000 tonnes)
Breeder seed production('000 tonnes)
Source: Ministry of Agriculture, TechSci Research
DECEMBER 2015
SEPTEMBER
2016
26
AGRICULTURE
GROWING YIELD AND USE OF QUALITY SEEDS (2/2)
Food grain yields (kg/hectare)
1756
1860
1909
FY08
FY09
2078
2125
2101
2070
FY12
FY13
FY14
FY15
1930
1798
FY07
FY10
FY11
DECEMBER 2015
SEPTEMBER
2016
27
AGRICULTURE
INSTITUTIONAL CREDIT TO AGRICULTURE ON A RISE
Commercial Banks
FY09
Coorperative Bank
FY13
39.80
27.42
159.27
FY12
40.95
23.45
157.26
FY11
37.53
23.23
145.86
FY10
30.73
19.28
26.78
14.85
99.24
FY08
19.92
11.60
89.94
FY07
23.97
12.57
73.76
18.82
9.05
120.54
168.88
FY14
DECEMBER 2015
SEPTEMBER
2016
28
AGRICULTURE
RISING MSPs INCENTIVISE FARMING (1/2)
MSP of rice (USD per quintal)
CAGR: 5.6%
44.5
The MSP for rice was raised from USD44 per quintal in
FY14 to USD45.80 per quintal in FY15 at YoY growth of 4.1
per cent
13.2
16.4
18.7
20.4
FY09
FY10
46.7
46.6
44
45.8
21.5
FY08
FY11
FY12
FY13
FY14
FY15
FY16
DECEMBER 2015
SEPTEMBER
2016
29
AGRICULTURE
RISING MSPs INCENTIVISE FARMING (2/2)
MSP of Arhar (USD per quintal)
CAGR: 10.24%
78.90
70.90
71.30
72.20
FY13
FY14
FY15
75.02
65.80
48.50
38.50
43.30
31.20
FY07
FY08
FY09
FY10
FY11
FY12
FY16
DECEMBER 2015
SEPTEMBER
2016
30
AGRICULTURE
FAVOURABLE POLICIES ARE SUPPORTING THE SECTOR GROWTH (1/2)
Paramparagat Krishi
Vikas Yojana
(PKVY)
Foreign Direct
Investment (FDI)
This scheme ensures the promotion of organic farming. USD45.83 million has been
allocated for the scheme during the year 2015-16.
Adoption of farming will promote the balanced use of chemical fertilizers and enhance the
quality of farm produce
100 per cent Foreign Direct Investment (FDI) is allowed under automatic route in storage
and ware housing including cold storages
FDI policy for agriculture was amended to allow 100 per cent FDI under automatic route
for development of seeds
The scheme ensures access to the means of irrigation to all agricultural farms in the
country to produce per drop more crop, thus bringing much desired rural prosperity
DECEMBER 2015
SEPTEMBER
2016
31
AGRICULTURE
FAVOURABLE POLICIES ARE SUPPORTING THE SECTOR GROWTH (2/2)
Pulses Production
Government has allocated USD76.38 million to lift the production of pulses under National
Food Security Mission (NFSM). The government would increase cover for about 622
districts under the initiative in FY17
Support through
Initiatives
Under MNREGA, government is planning to create 1 million compost pits for organic
manure.
A corpus of USD2.90 billion to be allocated for adding 0.22 million km of road, under
PMGSY by 2019.
Integrated Scheme of
Oilseeds, Pulses, Oil
palm and Maize
(ISOPOM)
The government plans to set up a Regional Rural Bank Credit Refinance Fund with a
capital of USD2.1 billion to enhance the capacity of RRBs to disburse short term crop
loans to small and marginal farmers
In FY17, the government raised the budget allocation for agriculture sector to USD137.5
billion.
ISOPOM scheme was launched in 2004 to provide flexibility and promote crop
diversification; under ISOPOM, states can utilise the allotted funds to develop a crop of
their choice
DECEMBER 2015
SEPTEMBER
2016
32
AGRICULTURE
HIGHLIGHTS OF THE BUDGET 2016 -17
Central Statistics Office (CSO) estimates the share of agriculture and allied sector comprising
of agriculture, livestock, forestry & fishery was almost 15.35 per cent of the Gross Value Added
(GVA) during FY16.
Food grain production reached 253.16 million tonnes in 2015-16, in comparison with 252.68
million tonnes in 2014-15, which is projected to further increase to 280.6 million tonnes by
2020-21.
The export of agricultural products is likely to cross USD45 billion by 2019 20.
Agriculture GVA
Agricultural exports
estimated to increase
DECEMBER 2015
SEPTEMBER
2016
33
AGRICULTURE
HIGHLIGHTS OF THE BUDGET 2016 -17
Provision of USD76.38 million to enhance production of pulses, under National Food Security
Mission in 622 districts
Under Paramparagat Krishi Vikas Yojna (PKVY), promote organic farming and value chain
development in North East with a provision of USD62.94 million, for both.
Under Pradhan Mantri Fasal Bima Yojana (PMFBY), a provision of USD840.2 million has been
made.
The target for agricultural credit has been increased to USD137.5 billion. Provided USD2.3
billion budget estimate for farmers.
The government allocated USD130 million for farmers to encourage to take up other allied
activities over next few years such as Pasudhan Sanjivini, Nakul Swasthya Patra, EPashudhan Haat and National Genomic centre.
To improve efficiency and performance of Krishi Vigyan Kendras (KVKs), a national level
competition for KVKs would be hosted with an award of USD0.08 million.
Funds Allocated
DECEMBER 2015
SEPTEMBER
2016
34
AGRICULTURE
OPPORTUNITIES
DECEMBER 2015
SEPTEMBER
2016
AGRICULTURE
OPPORTUNITIES
Farm management services
Logistics
Agricultural inputs
DECEMBER 2015
SEPTEMBER
2016
36
AGRICULTURE
INITIATIVES THAT WILL FURTHER PROP UP THE SECTOR
Foreign Direct
Investment (FDI)
MOUs/ Agreements
Cumulative FDI from April 2000 to March 2016 in agriculture services was USD1,844.31
million, whereas in agricultural machinery was USD434 million.
Provides better agricultural facilities in areas such as R & D, capacity building, germ
plasm exchange, post harvest management, value addition/food processing, plant
protection, animal husbandry, dairy and fisheries
DECEMBER 2015
SEPTEMBER
2016
37
AGRICULTURE
GOVERNMENT INITIATIVES THAT WILL FURTHER PROP UP THE SECTOR
Allocation of USD3.9 billion for RFID, USD234 million for long term rural credit fund,
USD7.03 billion for short term cooperative rural credit finance fund, USD3.9 billion for
short term RRB refinance fund
The Ministry of Food Processing Industries have taken few initiatives for developing the
food processing sector that would enhance the exports of agro and processed foods and
income of farmers
Government is planning to invest USD8 billion so as to revive 4 fertilizer plants and setting
up 2 plants to produce farm nutrients
In 2014, USD682.31 million has been allocated for the development of first phase of farm
loan waiver scheme by the Government of Telangana. The scheme is expected to benefit
3.6 million farmers who have taken a loan of approx. USD1600 or below before March 31,
2014
Financial Outlay of USD35.47 million has been announced under the National Dairy
Development Board (NDDB) to boost milk output and per animal production of milk
Israel have strengthened its bilateral ties with India by helping the farmers to choose the
right crops or vegetables and multiplying income of farmers
Government Initiatives
DECEMBER 2015
SEPTEMBER
2016
38
AGRICULTURE
CONTRACT FARMING: CHANGING THE FARM DYNAMICS (1/3)
The Government of Indias National Agriculture Policy envisages that Private sector participation will be promoted through
contract farming and land leasing arrangements to allow accelerated technology transfer, capital inflow and assured market for
crop production especially of oilseeds, cotton and horticultural crops
Companies
provide R&D and
agricultural
implements to
farmers
Contract Farming in
India
Regular and
timely payments
to farmers and
credit facilities
Company
State
Crop
Cargill India
Pvt Ltd
Madhya
Pradesh
Hindustan
Lever Ltd
Madhya
Pradesh
Wheat
ITC - IBD
Madhya
Pradesh
Soybean
Appachi
Tamil Nadu
Cotton
Punjab
Milk
Punjab, TN
Chillies, Groundnut,
Seaweed, Tomato
and Basmati Rice
Nestle India
Ltd
Lesser logistics
cost for both,
farmers and
companies
DECEMBER 2015
SEPTEMBER
2016
Pepsi Foods
Pvt Ltd
39
AGRICULTURE
CONTRACT FARMING: CHANGING THE FARM DYNAMICS (2/3)
At present among successful contract farming practices undertaken in Gujarat:
These are some companies who have approached the govt. and shown keen interest in
doing research and contract farming in Agro-products in Gujarat under their backward
integration projects.
Is also planning to grow high quality oil palm under contract farming in south Gujarat
region by providing imported tissue culture plants and farming technology to the contract
farmers.
Agrocell Corporation
Ltd.
It is doing contract farming of organic cotton and sesame seeds covering about 5000
acres in Kutch and Surendranagar district of Gujarat since last 8 years.
The farmers get 7-8 per cent more price than ordinary cotton in current market and
concession in certain services from the company.
Plans to grow Jetrophs Curcas by contract farming. They have target of covering more
than 50,000 acres of irrigated & non-irrigated land of Gujarat.
DECEMBER 2015
SEPTEMBER
2016
40
AGRICULTURE
CONTRACT FARMING: CHANGING THE FARM DYNAMICS (3/3)
Groundnut
Contract farming agreement
with farmers in Punjab
PMG technology sourced from
china
Pepsi Co
Barley
Created procurement centers to
procure Barley in Rajasthan
SAB Miller
DECEMBER 2015
SEPTEMBER
2016
41
AGRICULTURE
SUCCESS STORIES
DECEMBER 2015
SEPTEMBER
2016
AGRICULTURE
RALLIS INDIA: BENEFITTING FROM DEMAND OF AGRICULTURAL INPUTS (1/2)
Salient characteristics
Rallis is a leading player in the agricultural inputs business and one of the largest player in agri chemical business
Crop protection is the major segment for the company and it plans to expand its presence in seeds and PGN
As part of the above mentioned plans, Rallis acquired a research-led seeds company Metahelix and launched a PGN
product in the name of Ralligold
Rallis India has set up Rallis Farm Management services to undertake contract farming
Rallis Research Centre has won the prestigious New Millennium Indian Technological Leadership Initiative award for a
molecule discovery
Launched GeoGreen which has established itself as a brand for soil conditioner. It improves the soil health to enhance the
productivity
Programmes like MoPu More Pulses, Samrudh Krishi have been initiated to drive the productivity of various agri services
Crop protection
Agri services
Rallis
Contract farming
DECEMBER 2015
SEPTEMBER
2016
43
AGRICULTURE
RALLIS INDIA: BENEFITTING FROM DEMAND OF AGRICULTURAL INPUTS (2/2)
Net sales (USD million)
286.28
297.26
233.61
214.53
174.30
31.80
30.50
36.76
31.10
31.70
185.30
25.20
22.30
140.50
FY08
39.40
38.40
266.45 265.14
FY09
FY10
FY11
FY12
FY13
FY14
FY15
FY16
FY08
FY09
FY10
FY11
FY12
FY13
FY14
FY15
FY16
DECEMBER 2015
SEPTEMBER
2016
44
AGRICULTURE
USEFUL INFORMATION
DECEMBER 2015
SEPTEMBER
2016
AGRICULTURE
INDUSTRY ASSOCIATIONS (1/2)
Autonomous Bodies
National Institute of Agricultural Extension Management
Rajendranagar, Hyderabad500 030, Andhra Pradesh
Phone: 040-24016702 to 706
Fax: 040-24015388
Boards
Central Insecticides Board and Registration Committee
Machinary Store Building,
N.H.IV Faridabad
Phone: 0129 -2413002
DECEMBER 2015
SEPTEMBER
2016
46
AGRICULTURE
INDUSTRY ASSOCIATIONS (2/2)
National Dairy Development Board (NDDB)
PB No 40, Anand388 001
Phone: 02692-260148/260149/260160
Fax: 02692-260157
Councils
Indian Council of Agricultural Research (ICAR)
Krishi Bhavan, New Delhi 110 114
Phone: 91-11-25846010
DECEMBER 2015
SEPTEMBER
2016
47
AGRICULTURE
GLOSSARY (1/2)
AIBP: Accelerated Irrigation Benefit Programme
Breeder seeds: Seeds move from germ-plasm (research) stage to breeder stage
DECEMBER 2015
SEPTEMBER
2016
48
AGRICULTURE
GLOSSARY (2/2)
RKVY: Rashtriya Krushi Vikas Yojana is a central government scheme providing funds to state governments to spend on
agriculture
Wherever applicable, numbers have been rounded off to the nearest whole number
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AGRICULTURE
EXCHANGE RATES
Exchange rates (Fiscal Year)
Year
Year
200405
44.81
2005
43.98
200506
44.14
2006
45.18
200607
45.14
2007
41.34
200708
40.27
200809
46.14
2008
43.62
200910
47.42
2009
48.42
201011
45.62
2010
45.72
201112
46.88
2011
46.85
201213
54.31
2012
53.46
201314
60.28
2013
58.44
2014-15
61.06
2014
61.03
2015-16
65.46
2015
64.15
2016-17 (E)
66.95
2016 (Expected)
67.22
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AGRICULTURE
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