Agri Picks Report December 20, 2024: Geojit Financial Services

commodities

Geojit Financial Services's report on Daily Agri Picks

The Securities and Exchange Board of India has extended the suspension of derivatives trade in wheat, chana, moong,paddy (non-basmati), mustard seeds and its derivatives, soya bean and crude palm oil till Jan 1, the regulator said in a release on Wednesday. The suspension of derivatives trade in these contracts, imposed on Dec. 19, 2021, has been extended twice for more than one year to stem inflationary pressures. • Farmers in Telangana have sown rabi crops over 1.1 million acres as of Wednesday, up 26.4% on year from 854,827 acres sown in the same period last year, according to a report released by the state agriculture department. Maize acreage in the state was 399,847 acres, up nearly 86% on year from 215,115 acres sown last year. The acreage of rabi crops has risen due to good rainfall in late September and early October, the report said. The state received 30% excess rainfall during the southwest monsoon season at 962.6 mm, compared with the normal of 738.6 mm, the report said. Good rainfall in late September and early October also created optimal conditions for the sowing of rabi crops, the report said. The area sown under paddy so far rose to 147,518 acres from 93,343 acres a year ago. The area sown under jowar also rose to 58,427 acres from 38,326 acres last year, the report showed. Rabi crops in Telangana are sown between October and December after the monsoon rains are over and harvested between February and May. This year, however, the sowing started late because of a delay in the withdrawal of the southwest monsoon, which in turn delayed the harvest of kharif crops. The normal acreage for the season in Telangana is 6.4 million acres (1 acre = 0.4 hectares), the report said. Chana acreage as of Wednesday was 189,030 acres, down from 234,699 acres a year ago, the report showed. On the other hand, the area sown under black gram, or urad, was 29,770 acres, up from 25,249 acres last year. The total area sown under all pulses was 224,543 acres, down from 265,489 acres a year ago. The total area sown under oilseeds so far was 208,167 acres, up from 195,031 acres sown in the previous year. Under oilseeds, the acreage under groundnut rose to 197,171 acres from 178,321 acres last year. Tobacco acreage in the state as of Wednesday was 8,022 acres, up sharply from 3,206 acres in the corresponding period last year, according to the report. Most kharif crops in the state are in the harvesting stage, the report said. Tur is in the 'pod formation to harvesting stage', while cotton is in the 'second to third picking stage', the report said. The procurement of paddy, soybean, and cotton is progressing at a brisk pace across the state, the report said. The water level in reservoirs across the state was 795.9 thousand million cubic feet as of Wednesday, compared with 459.0 thousand million cubic feet a year ago, according to the report.

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