Agri Picks Report January 01, 2024: Geojit

commodities

Geojit's report on Agri Picks

The Centre has extended the import duty exemption on tur and urad by a year till Mar 31 2025, according to a notification by the Directorate of General of Foreign Trade today. Previously, free imports of the above two pulses were only allowed till Mar 31 2024. On Mar 3, the government removed import duty on tur and urad from 10% to ensure availability at affordable prices in the domestic market. India imports pigeon peas or tur from Mozambique, Myanmar, Tanzania, Sudan, Malawi and Singapore. India imported 460,536.5 tn of tur from Mozambique in the 2022-23 season, according to data from Agricultural and Processed Food Products Export Development Authority. Mozambique accounts for more than half of India's tur imports. According to the first advance estimates for 2023-24 (Jul-Jun) released by the government in October, tur output is seen falling to 3.4 mln tn in the ongoing crop year, as against 3.9 mln tn in the previous year. Urad production in 2022-23 is estimated at 2.6 mln tn, down from 2.8 mln tn the previous year. Farmers in Andhra Pradesh have sown rabi crops over 763,000 ha as of Wednesday, down 28% from 1.06 mln ha a year ago, according to state government data. So far, 33.2% of the targeted rabi crop area of 2.3 mln ha in the state has been covered, the data showed. The area under pulses was down 30% on year at 419,000 ha, and the crop is ready for harvesting. Black gram acreage is down at 144,000 ha from 197,000 ha a year ago, the data showed. The area under bengal gram was down 34% on year at 225,000 ha from 341,000 ha last year, the data showed. So far, Andhra Pradesh has received nearly normal rainfall at 230.8 mm in the north-east monsoon, 18.9% below the normal of 284.7 mm, the data showed. Farmers in Andhra Pradesh have sown paddy over 116,000 ha as of Wednesday, down from 205,000 ha in the previous year. The targeted area for the crop is 820,000 ha in the current season. Jowar's acreage was up at 53,000 ha from 39,000 ha a year ago, data showed. The area under food grains was down at 659,000 ha from 941,000 ha a year ago, and coarse grain cultivation was at 123,000 ha, down from 137,000 ha in the previous year. Oilseed acreage fell to 43,000 ha from 68,000 ha a year ago, according to the report. The target for oilseeds is 142,000 ha for the current season. Sowing for rabi crops is under progress in the state and farmers are taking up land preparation, according to the state government's report. The water level in major reservoirs in the state as of Wednesday was 282.21 bln cu ft, down from 657.56 bln cu ft a year ago, according to government data.

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