Agri Picks Report: Geojit
According to Geojit, Cotton production in Gujarat is likely to fall 14% to 7.4 mln bales in 2020-21 (Jul -Jun) due to a sharp decline in acreage, according to the state farm department's second advance estimate.
January 13, 2021 / 09:08 AM IST
Geojit's report on Agri Picks
Cotton production in Gujarat is likely to fall 14% to 7.4 mln bales in 2020-21 (Jul -Jun) due to a sharp decline in acreage, according to the state farm department's second advance estimate. Cotton acreage in Gujarat is at 2.28 mln ha in the current season against 2.65 mln ha last year. The decline in acreage is mainly due to the shift to other lucrative crops like groundnut. The initial price limit for cotton futures on the Intercontinental Exchange has been increased to 4 cents per pound from 3 cents earlier, the bourse said in a circular. MCX subsidiary MCX Clearing Corp has accredited facilities of Shree Shubham Logistics Ltd in Mahesana, Gujarat, as a warehouse for the storage and delivery of cotton bales from today, the exchange said in a circular. Government agencies had 53.0 mln tn food grain stocks at the start of the year, sharply higher than the 21.4 mln tn buffer required, officials said. The stocks were, however, down over 6% on year. Soymeal exports are expected to jump fivefold on year to around 300,000 tn in January due to strong demand from traditional buyers, the Soybean Processors Association of India said. The government appointed a central team to visit Maharashtra and Gujarat and monitor the epicentres of the avian influenza outbreak in these states, a government circular said. The National Agricultural Cooperative Marketing Federation of India has bought around 11,288 tn of key pulses harvested in the 2020-21 (Jul-Jun) kharif season from Tamil Nadu, Maharashtra, Rajasthan, and Haryana as of Saturday, an agency official said. Farmers associations will not engage with the expert panel created by the Supreme Court as the members of the committee have expressed their support to the recently enacted farm laws, Avik Saha, secretary of the All India Kisan Sangharsh Coordination Committee said.
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