Agri Picks Report December 10, 2024: Geojit Financial Services

commodities

Geojit Financial Services's report on Daily Agri Picks

Farmers in Rajasthan have sown rabi crops over 10.1 million hectares as of Friday, up 4.7% on year from 9.7 million hectares sown in the same period last year, according to a report published by the state agriculture department. Wheat acreage in the state so far is 2.6 million hectares, up 15.8% on year from 2.3 million hectares sown last year. The total area sown under all cereals was nearly 3 million hectares, up from 2.6 million hectares a year ago, the report showed. The acreage under barley was 363,770 hectares, down from 369,450 hectares last year. The acreage under chana as of Friday was 1.9 million hectares, up from 1.8 million hectares sown in the previous year, according to the report. The total area under all pulses was 2 million hectares, up from 1.8 million hectares a year ago. The total area sown under all oilseeds so far was 3.4 million hectares, down from 3.6 million hectares a year ago, the report said. Under oilseeds, the acreage under rapeseed and mustard fell to 3.3 million hectares from 3.5 million hectares last year. Rabi crops are sown during Oct-Nov after the monsoon rains are over, and are harvested between April and May. Barley, wheat, gram or desi chana, and oilseeds such as rapeseed and mustard, are the key crops grown in the state during the rabi season. Rajasthan's target for rabi sowing this season is 12.0 million hectares. • The UN Food and Agriculture Organization's Food Price Index rose 0.5% on month to 127.5 points in November, reaching its highest value since April 2023, the organization said in a report. This is mainly due to an increase in prices of vegetable oils and dairy products, which slightly outweighed declines in meat, cereals, and sugar quotations. The Food Price Index in November was 5.7% higher than a year ago but 20.4% below its peak of 160.2 points touched in March 2022, the organization said in the report.

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