Agri Picks Report: Geojit

Geojit's report on Agri Picks

After excessive rainfall during the last southwest monsoon season, India is likely to receive 'normal' monsoon rains in 2021 with rainfall seen at 98% of the longperiod average, the India Meteorological Department said. The Securities and Exchange Board of India listed warehousing norms for commodity contracts of agricultural goods and base metals. These norms for clearing corporations and warehouse service providers will be effective from Jun 1. Minister of State for Agriculture Parshottam Rupala said private investment in farm sector is required to double farmers' income by 2022. The Solvent Extractors' Association of India today requested the Securities and Exchange Board of India to check speculative trading in soybean futures. National Commodity Clearing Ltd, the clearing arm of the National Commodity and Derivatives Exchange, has so far marked 12,960 tn chana and 6,310 tn soybean for staggered delivery against the April contract that will expire on Tuesday, according to data on its website. Production of most crops in Karnataka are expected to increase in the 2020-21 (Jul-Jun) season as adequate rain in the state led to a rise in acreage of most crops and boosted yields, a senior state government official told Informist. Farmers in the country have sown summer crops across 6.98 mln ha so far in 2020-21 (Jul-Jun), up 16.6% from a year ago, farm ministry data showed.

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