Agri Picks Report August 14, 2023: Geojit

commodities

Geojit's report on Agri Picks

Farmers in Telangana have sown paddy over 3.6 mln acres (1 acre = 0.40 ha) in the current kharif season, up to Wednesday, a sharp rise of 68.5% over the previous year's figure of 2.1 mln acres, according to official data. The total sown acreage in the state as of Wednesday was 9.6 mln acres, up 14% from 8.3 mln acres a year ago, and 0.7% higher than the corresponding normal acreage of 9.5 mln acres. As of Wednesday, cotton, the major kharif crop in the state, was sown across 4.4 mln acres down from 4.7 mln acres a year ago. The area under pulses fell 15% on year to 523,679 acres from 616,725 acres. Major pulses grown in the state are red gram, green gram, and black gram. The area under coarse grains, so far, was at 524,373 acres, up from 473,641 acres last year. The foodgrain acreage rose to 4.6 mln acres from 3.2 mln acres a year ago. The state reported 451,721 acres under oilseeds, higher than 359,959 acres last year. While soybean sowing rose 26% on year to 443,029 acres, groundnut sowing fell 6% on year to 5,937 acres. Sugarcane sowing so far was at 20,103 acres, down from 24,556 acres last year, the state government data showed. The water level in 146 key reservoirs across the country was at 109.98 bcm as of Thursday, 62% of the total live storage capacity, according to data from the Central Water Commission. The water level in these reservoirs was 6% lower from the year-ago period and 8% higher than the 10-year average. Farmers in Andhra Pradesh have sown paddy over 686,000 ha in the current kharif season until Wednesday, 17% lower than the previous year's figure of 828,000 ha, according to official data. The total sown acreage in the state so far was 1.5 mln ha, down 30% from 2.2 mln ha a year ago, and 34% lower than the corresponding normal acreage of 2.3 mln ha. The state reported an on-year decline in the area under cultivation for all major crops, including food crops and cash crops like cotton, sugarcane, and tobacco. The area under coarse grains, so far this kharif season, was 115,000 ha, down from 125,000 ha last year. Of the coarse grain basket, only ragi registered a slight rise in acreage to 16,000 ha from 14,000 ha. The acreage of jowar and bajra declined. The area under pulses fell to 101,000 ha from 136,000 ha. Major pulses grown in the state are red gram, green gram, and black gram. The foodgrain acreage fell to 902,000 ha from 1.1 mln ha a year ago. The state reported 300,000 ha under oilseeds, lower than 557,000 ha last year. Major oilseed sown in the state are groundnut, sesamum, and castor, all of which registered a decline in acreage so far. Sugarcane sowing so far was at 22,000 ha, down from 34,000 ha last year, and cotton acreage fell to 322,000 ha from 514,000 ha, the state government data showed. Since Jun 1, Andhra Pradesh has received 246.0 mm rainfall, 9% below the normal weighted average of 270.7 mm for the period. The water level in major reservoirs in the state as of Wednesday was 420.81 bln cubic feet, down from 737,15 bln cubic feet a year ago, according to government data.

For all commodities report, click here

Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.

14082023 - comm