Agri Picks Report August 26, 2024: Geojit Financial Services

commodities

Geojit Financial Services's report on Daily Agri Picks

Farmers in Andhra Pradesh have sown crops over 1.98 mln ha as of Wednesday, up 3% from a year ago, according to data provided by the state's agricultural department. Around 80% of the normal acreage of 2.5 mln ha has been covered so far. The area under food grains was 1.3 mln ha as of Wednesday, up from 1.2 mln ha a year ago. The acreage of course grains rose to 153,000 ha from 125,000 a year ago, according to the data. The area under paddy was up at 956,000 ha compared to 949,000 ha a year ago, while that under maize was 105,000 ha, up from 86,000 ha a year ago. The area under pulses was 191,000 ha, up from 123,000 ha a year ago, the report showed. Under pulses, the area under redgram, or tur, rose to 170,000 ha from 109,000 ha a year ago. The acreage of total oilseeds fell to 308,000 ha from 324,000 ha a year ago. Under oilseeds, the area under groundnut was 263,000 ha as of Wednesday, down from 280,000 ha a year ago. Groundnut acreage accounts for nearly 86% of the total oilseed acreage in the state. Cotton acreage was 350,000 ha as of Wednesday, down from 369,000 ha a year ago, the report showed. The area under sugarcane fell to 18,000 ha from 26,000 ha. As of Wednesday, the state received 433.3 mm of rain this monsoon season, up 17.2% from the normal of 369.6 mm for the period, according to the data. • The water level in 155 key reservoirs of the country as of Thursday was 130.800 bcm, 72% of the total live storage capacity of 180.852 bcm, according to data from the Central Water Commission. The current water storage is up 14% from a year ago and 12% from the average for the past 10 years. In the northern region, the water level in the reservoirs was 10.538 bcm, 53% of the live storage capacity, compared with 84% a year ago. In the eastern region, the water level was 12.550 bcm, 60% of the live storage capacity against 43% a year ago. In the western region, the water level was 27.526 bcm, 74% of the live storage capacity, against 69% a year ago. In the central region, the water level was 36.691 bcm, 76% of the live storage capacity, against 73% a year ago. In the southern region, the water level was 43.495 bcm, 80% of the live storage capacity compared with 52% a year ago. Of the 155 reservoirs, 128 reported more than 80% of normal storage, while 27 reported storage levels at 80% of normal or below that. Of the 27 reservoirs, 14 had storage up to only 50% of the normal level. Since Jun 1, India has received 657.3 mm rainfall, 3% above the normal of 635.4 mm for the period, according to the India Meteorological Department.

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