Agri Picks Report August 08, 2024: Geojit Financial Services

commodities

Geojit Financial Services's report on Daily Agri Picks

Farmers in Gujarat have sown crops across an area of 7.4 mln ha, down 5.8% from 7.82 mln ha last year, as per the state acreage report released on Monday. The area under cotton has decreased 13% on year, to 2.3 mln ha, as per the report. Guar seed acreage has fallen to 56,391 ha from 95,219 ha last year, the report showed. The area under oilseeds has risen by 4.1% on year to 2.4 mln ha and the area for groundnut has increased to 1.9 mln ha, up 16.9% on year. Soyabean has been sowed across 296,580 ha, up 11.8% on year. Castor seed acreage has fallen by around 58% on year to 146,679 ha. The area under cereals has fallen by 6.3% on year to 1.2 mln ha as of Monday. Under cereals, paddy acreage has fallen by 6.71% on year to 764,463 ha, according to the report. The area under pulses has shown a marginal increase of 0.06% on year to 339,313 ha. Under pulses, tur acreage has increased by 9% on year to 205,202 ha. The area under moong has fallen to 43,921 ha from 60,195 ha last year, the report showed. • The area under kharif crops in Rajasthan saw a decline of 6.5% on year to 15 mln ha as of Monday, according to a report released by the state. The state has set a target of 16.5 mln ha for this kharif season and 91% of the target area has been covered. Kharif crops are sown during the first rains of the southwest monsoon season around June, and harvested at the end of the monsoon season around October. The area under cereals saw a decline of nearly 4% on year to 6 mln ha. The acreage of bajra decreased by 7% on year to 4.1 mln ha. The target for bajra is set at 4.4 mln ha. Maize acreage increased by 2% on year to 961,650 ha. The target set for maize is 970,000 ha. The area covered under pulses decreased by 3% on year to 3.4 mln ha. Moong acreage increased marginally by 1% on year to 2.2 mln ha. The target for moong is 2.5 mln ha and 87% of the target has been covered. The area covered under food grains was 9.4 mln ha, down from 9.8 mln ha last year, as per the report. Moong and bajra are the main pulses and cereal crops grown in Rajasthan during the kharif season. Despite receiving excessrainfall since the start of the monsoon this year, sowing of major crops in the state has been below par till now. The area covered under oilseeds was 2.2 mln ha, down from 2.3 mln ha last year. The acreage of groundnut saw a decline of 1.2% on year to 848,590 ha, surpassing the target of 800,000 ha. Soyabean acreage decreased by 3.3% on year to 1.1 mln ha, as per the report. The area under guar was 2.4 mln ha, down from 2.7 mln ha last year. The target set for guar is 2.8 mln ha, according to the report. The area under cotton decreased to 511,790 ha, down from 788,840 ha last year.

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.

08082024 - co