Agri Picks Report February 28, 2025: Geojit Financial Services

commodities

Geojit Financial Services's report on Daily Agri Picks

Farmers in the country have sown summer crops across 2.23 million hectares as of Friday, up 2.2% from a year ago, according to data from the agriculture ministry. The acreage under crops at this time last year was 2.18 million hectares. The area under rice, the largest summer crop, was 1.95 million hectares as of Friday, up by 7.1% on year from 1.82 million hectares a year ago. On the other hand, the area under maize, which is the largest coarse cereal grown during the season,fell to 89,200 hectares from 105,200 hectares last year. The rise in total acreage was significantly held higher by the increase in rice acreage, as the area sown under all other major summer crops fell on year. The area sown under all pulses fell by 21.7% on year to 88,200 hectares from 112,600 hectares last year. Under pulses, moong acreage fell to 68,100 hectares from 79,400 hectares sown a year ago. Oilseeds acreage was down at 86,700 hectares from 127,400 hectares a year ago.The area under sesamum, the major summer oilseed crop, was at 22,200 hectares, lower than 28,700 hectares a year ago. Similarly, groundnut acreage also fell to 55,300 hectares from 88,900 hectares last year. • The Food Safety and Standards Authority of India has readied a new draft framework on maximum residue level for spices and culinary herbs, the Hindu Businessline newspaper reported Thursday. The framework is likely to be finalised soon and it will help improve market access for Indian exporters in the near term, it reported. There is a significant revision of the number of approved maximum residue levels framework from 11 to 98, the newspaper quoted Paresh Shah, chairman of the Food Safety and Standards Authority of India's sub-committee on pesticide residues, as saying. "For decades, India's maximum residue levels were inherited from outdated global frameworks. The upcoming revision, backed by extensive monitoring data, will align our standards with international benchmarks," Shah said at a panel discussion on contaminants and regulations at the International Spice Conference, 2025, in Bengaluru. He added this step would improve market access for India spices. The conference is organised by the All India Spices Exporters Forum. A maximum residue level is the highest amount of pesticide residue that is permitted in food or feed. These maximum residue levels are set to ensure that the residue levels are not harmful to consumers. By establishing more maximum residue levels, it becomes easier for processors to confirm the requirements and brings down the risk of rejections, as it gives an idea to exporters about extact requirement, the newspaper quoted Ramkumar Menon, chairman, World Spices Organisation and managing committee member at All India Spices Exporters Forum.

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