Agri Picks Report April 23, 2025: Geojit Financial Services

commodities

Geojit Financial Services's report on Daily Agri Picks

Indian farmers have sown summer crops across 6.88 million hectares as of Friday, up 15.2% on year from 5.97 million hectares sown in the same period a year ago, according to data released by the agriculture ministry relased on Monday. Rice, which is the largest summer crop both in terms of acreage and production, was sown across 3.16 million hectares as of Friday, up 14.4% from 2.76 million hectares a year ago. The acreage of coarse cereals remained unchanged from last week. The area sown under maize, the largest coarse cereal grown during the season, rose to 685,000 hectares from 532,000 hectares last year. On the other hand, the acreage of bajra, the second-largest coarse cereal, fell to 408,000 hectares from 411,000 hectares a year ago. The area under all pulses rose by 23.2% to 1.66 million hectares from 1.34 hectares sown in the corresponding period last year. Under pulses, acreage of moong rose to 1.37 million hectares from 1.10 million hectares a year ago, while that of urad rose to 271,000 hectares from 230,000 hectares last year. The total area sown under all oilseeds rose to 916,000 hectares from 877,000 hectares a year ago, according to the data. The acreage under sesamum, the major summer oilseed crop, rose nearly 6% on year to 443,000 hectares. Similarly, groundnut acreage rose nearly 5% on year to 431,000 hectares. As of Thursday, the water level in 161 key reservoirs in the country was 66.823 billion cubic metres, which is nearly 40% of the total live storage capacity, data from the Central Water Commission showed. The water levels are up 15% from a year ago, which is aiding summer crop acreage this year. Meanwhile, the India Meteorological Department has forecast above normal southwest monsoon rainfall this year as neutral El Nino conditions are seen prevailing throughout the period. The weather bureau said overall rainfall during Jun-Sept is likely to be 105% of the long-period average with a model error of plus or minus 5%.

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