Agri Picks Report December 23, 2024: Geojit Financial Services

commodities

Geojit Financial Services's report on Daily Agri Picks

The National Commodity and Derivatives Exchange Ltd. will launch options contracts on turmeric, coriander, and jeera futures, according to a circular issued by the exchange Thursday. The contracts will be available for trading from Jan. 2, the exchange said in the circular. Options on futures contracts of turmeric and coriander expiring in April, May, and June, and options on futures contracts of jeera expiring in March, April and May will be launched.The trading unit of options on turmeric is 5 tonnes and the maximum order size is 250 tonnes. The tick size of the contract will be INR 1 per 100 kg, NCDEX said. The trading unit of options on jeera is 3 tonnes, the maximum order size is 150 tonnes, and the tick size is INR 2 per 100 kg. Similarly, the trading unit of options on coriander is 5 tonnes with a maximum order size of 500 tonnes. The tick size of the contract will be INR 1 per 100 kg, the exchange said. The options type is European for all three commodities. On expiry, the outstanding open position will result in devolvement into the respective futures, the exchange said. The transaction charges applicable on options on the spices complex will be at a flat rate of INR 30 per INR 100,000 turnover of premium turnover value effective from Jan. 2, the release said. • Farmers in Rajasthan have sown rabi crops over 10.68 million hectares as of Monday, up nearly 2% on year from 10.47 million hectares sown in the same period last year, according to a report released by the state agriculture department. Wheat acreage in the state so far is up 12.7% on year to 2.99 million hectares from 2.66 million hectares a year ago. The acreage under barley was 406,350 hectares, down from 430,310 hectares last year. The total area sown under all cereals was 3.40 million hectares, up from 3.09 million hectares a year ago, according to the report. Chana acreage as of Monday was 1.97 million hectares, up from 1.89 million hectares a year ago. The total area sown under all pulses rose to 2.01 million hectares from 1.94 million hectares last year, the report showed. The total area sown under all oilseeds in the state was 3.39 million hectares, down from 3.74 million hectares sown in the previous year. The acreage under rapeseed and mustard fell to 3.29 million hectares from 3.59 million hectares a year ago. Rabi crops are sown 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, of which 89% has been achieved.

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