Which of the following statement (s) is/are correct?

Statement 1: The portion of agricultural produce which is sold in the market by the farmers is called agricultural surplus. 

Statement 2: A good proportion of the rice and wheat produced during the green revolution period was sold by the farmers in the market which resulted in decline of prices of these foodgrains.

Only Statement 2 is correct.

The portion of agricultural produce which is sold in the market by the farmers is called marketed surplus. A good proportion of the rice and wheat produced during the green revolution period (available as marketed surplus) was sold by the farmers in the market. As a result, the price of food grains declined relative to other items of consumption. The low income groups, who spend a large percentage of their income on food, benefited from this decline in relative prices.