Agri Picks Report: Geojit

Geojit's report on Agri Picks

Farmers have sown kharif crops across 13.13 mln ha so far, up over 39% on year, according to data released by the farm ministry. • The food ministry is mulling a physical limit on procurement of rice from the upcoming marketing season, starting September, to find a permanent solution to excess procurement amid rising stock in the central pool, senior government officials said. • The BSE will launch almond contracts from Monday, the exchange said in a release. • India received 6.4 mm rainfall on 19th June, 7% higher than the weighted normal average of 6.0 mm for the day, the India Meteorological Department said. Since Jun 1, the country has received 114.7 mm rainfall, 30% higher than the normal of 88.4 mm for the period. • The southwest monsoon is likely to hit Uttarakhand and cover more parts of Uttar Pradesh and Madhya Pradesh around Monday, the India Meteorological Department said. • After procuring over 80% Chana of the target of 2.2 mln tn for 2020-21 (Apr-Mar) as of Tuesday, the government expects to buy the rest by the end of this month under the price support scheme. • The government has already provided financial assistance of 654.54 bln rupees to 420 mln citizens as part of the 1.7-trln-rupee Pradhan Mantri Garib Kalyan scheme, it said in a press release. This comes soon after Prime Minister Narendra Modi today launched the Garib Kalyan Rojgar Abhiyaan, which aims to boost employment opportunities in rural areas. • India's exports of castor oil and its derivatives are expected to slump 10% this year, primarily due to eroding demand amid the coronavirus pandemic, Jayant Agro-Organics Ltd Chairman Abhay Udeshi said. In 2019, exports of the nonedible oil were at 545,292 tn, according to data by the Directorate General of Foreign Trade. • Production of sugar in Uttar Pradesh for the 2019-20 (Oct-Sep) season has touched a record high of 12.65 mln tn, against 11.82 mln tn in the last season, the Sugar Industry & Cane Development Department said in a release.

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