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Agri Picks Report: Geojit

Indian traders have so far signed forward deals to export 150,000-200,000 bales (1 bale = 170 kg) of cotton in the current 2021-22 (Oct-Sep) marketing year, trade officials say.

October 08, 2021 / 09:57 AM IST

Indian traders have so far signed forward deals to export 150,000-200,000 bales (1 bale = 170 kg) of cotton in the current 2021-22 (Oct-Sep) marketing year, trade officials say. This is sharply lower than the 500,000-800,000 bales of deals signed in the past years. The Indian Sugar Mills Association has urged the government to implement revenue sharing formula for sugarcane pricing as the current policy is posing a burden for the industry. The average price of 25% broken non-basmati rice exported from India fell to $357.5 per tn in September, as against $361.3 per tn in August, the United Nations Food and Agriculture Organization said in a report. The price was nearly 1.4% lower on year. Despite a drop in acreage and heavy rains across the country at the end of September, industry experts peg India's cotton production in the ongoing 2021-22 (Oct-Sep) season slightly higher on year at 35-36 mln bales (1 bale = 170 kg) due to expectations of higher yield. The government is likely to inject over 200 bln rupees in the sugar sector in the ongo-ing season through the ethanol blending programme to help fuel growth in the rural economy. Conditions are turning favourable for further withdrawal of southwest monsoon from entire Rajasthan and some more parts of Gujarat during the next two-three days, India Meteorological Department said.

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first published: Oct 8, 2021 09:57 am

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