Agri Picks Report: Geojit
According to Geojit, The US Department of Agriculture has cut its estimate for global cotton output for 2020-21 to 116.1 mln bales (1 US bale = 218 kg) from 116.3 mln bales projected in October.
November 12, 2020 / 09:33 AM IST
Geojit's report on Agri Picks
The US Department of Agriculture has cut its estimate for global cotton output for 2020-21 to 116.1 mln bales (1 US bale = 218 kg) from 116.3 mln bales projected in October. India's wheat exports are likely to rise sharply on account of lower prices in domestic markets and the rupee's depreciation against the US dollar. However, lower prices for deals will limit the cheer for exporters. The Centre must provide policy support for production of bio-gas from filter cake and production of potash rich fertilizer from the ash of incineration boilers in molasses distilleries, Indian Sugar Mills Association President Vivek Pittie said. The US Department of Agriculture has cut its estimate for global oilseed production for 2020-21 to 597.28 mln tn from 605.50 mln tn projected in October. The US Department of Agriculture has cut its estimate for global maize output to 1.14 bln tn from 1.16 bln tn for 2020-21, the agency said in its report for November. The US Energy Information Administration has cut its forecast for global crude oil prices in 2020 and 2021 due to high inventory level and surplus production. So far, Madhya Pradesh has procured over 40,100 tn of jowar, bajra, and paddy harvested in the 2020-21 (Jul-Jun) kharif season at the minimum support price, an official with the state department said. The National Commodity & Derivatives Exchange has changed the quality specification and reduced the maximum tolerance limit for futures contracts of castor seed to 0.5% from 1.0% earlier, the bourse said in a circular. The Centre will provide 50% subsidy on air transport of 41 agricultural produce grown in northeast India and the Himalayan states to other parts of the country under 'Operation Greens', it said in a release.
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