Agri Picks Report February 28, 2024: Geojit

commodities

Geojit's report on Daily Agri Picks

Farmers in Gujarat have sown crops across 178,660 ha as of today for the 2023-24 summer season, down 15% from 210,481 ha in the corresponding period of last year, according to the state agriculture department data. The normal acreage for the season, which is the average of the last three years, is 1.1 mln ha. Bajra, paddy, sesamum, and moong are the main crops grown in the state during summer. The total area under cereals was up 8% on year at 95,157 ha, which was mainly due to higher area under paddy and maize. Paddy was sown over 70,897 ha, up 33% from last year. Paddy is the second-largest cereal grown in the state. However, the area under bajra, the key crop grown during summer, was lower at 21,941 ha than last year's acreage of 32,723 ha. The pulses grown during the season are urad and moong. The acreage under pulses was at 5,792 ha, down 36% on year. Moong was sown over 5,375 ha as of today, lower from 6,311 ha during the same period last year. Urad acreage plunged to 417 ha from 2,731 ha in the same period of the previous year. Groundnut and sesamum are the main oilseed crops sown during the season in the state. So far, groundnut has been sown over 6,418 ha, down from 8,296 ha last year. Sesamum was sown over 6,596 ha, lower than 13,904 ha last year. The area under vegetables was at 19,868 ha, down from 24,594 ha a year ago. Onion acreage plunged to 460 ha from 3,818 ha a year ago. Sugarcane acreage has also fallen to 3,797 ha from 4,144 a year ago, the data showed. The area under rabi crops in Telangana was 6.3 mln acres (1 acre = 0.40 ha) as of Wednesday, 8.2% lower than 6.85 mln acres a year ago, according to data from the state government. The acreage so far accounts for 114.5% of the normal rabi crop area of 5.5 mln acres for the entire season, the data showed. The area under pulses fell 26% on year to 317,824 acres. Acreage of Bengal gram was down nearly 29% on year at 255,193 acres. The normal rabi acreage for pulses is 421,163 acres. Maize, Bengal gram, jowar, and groundnut are the main rabi crops grown in the state. The total area under major millets, which includes jowar, bajra, maize, and ragi, rose to 847,697 acres from 747,344 acres a year ago, the data showed. Maize was sown over 624,849 acres, slightly more than 624,121 acres a year ago. The season's normal area for maize is 511,521 acres, and it covers the maximum area under major millets, as per data. Jowar, the second-major millet in the state, was sown over 219,434 acres, nearly 84.3% higher than 119,002 acres a year ago. Paddy sowing fell 10% on year to 4.78 mln acres. The season's normal acreage is 4.05 mln acres. The area under food grains fell 8% on year to 5.96 mln acres. Oilseed acreage was at 265,813 acres, down from 307,172 acres a year ago. Groundnuts accounted for 78.3% of the total oilseed acreage at 208,283 acres, down from 241,184 acres a year ago. The normal area for oilseeds in the season is 371,037 acres. Telangana received scanty rainfall at 0.1 mm in February, and so far, the cumulative rainfall in the year has been normal at 913.9 mm, the data showed. The water level in major reservoirs in the state as of Wednesday was 308 bln cu ft, down from 491.28 bln cu ft a year ago, according to government data.

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.

28022024 - co