New Delhi, July 10 - The erratic monsoon this year will not hurt the country's food processing sector as there was enough surplus produce for value addition, according to Minister for Food Processing Industries Subodh Kant Sahai.

'In India, the (food) processing level is still very low - at only around 10 percent,' Sahai told reporters on the sidelines of a function held here Friday to launch the Ministry of Food Processing Industries' new magazine.

'We have enough surplus produce waiting for value addition. So where is the loss? If you go for value addition to the (agricultural) produce that is in hand, you can only end up earning a few rupees more. Farmers stand to benefit if their produce, instead of being wasted, is processed,' he said.

Regarding the union budget's impact on the sector, Sahai said that his ministry had enough money in hand to start work on various projects.