Agri Picks Report: Geojit
According to Prices of barley have surged 15% since the beginning of April, but there is room for further increase due to an acute supply crunch and a surge in demand.
April 26, 2021 / 09:32 AM IST
Geojit's report on Agri Picks
Prices of barley have surged 15% since the beginning of April, but there is room for further increase due to an acute supply crunch and a surge in demand. The ongoing bull run in cottonseed oilcake is unlikely to come to a halt anytime soon due to a scarcity of cottonseed in spot markets, amid a broad rally in the edible oil complex. The government will distribute free food grains to beneficiaries under its flagship Pradhan Mantri Garib Kalyan Anna Yojana in May and June, an official from the food ministry said. Futures contracts of most farm commodities on the National Commodity and Derivatives Exchange saw a correction on Friday as investors booked profits after the recent rally in prices. The government aims to produce 17.40% more mustard crop on year at 12.24 mln tn in 2021-22 (Jul-Jun) rabi season by encouraging farmers to bring more area under the crop, Farm Ministry Joint Secretary, Shubha Thakur, said. Exports of spices from India during Apr-Dec rose 26% on year to 1.12 mln tn, according to data from the Spices Board India. In value terms, they were up 19% at 197.4 bln rupees. The US Department of Agriculture's Foreign Agricultural Service expects India's 2021-22 (Oct-Sep) sugar production to rise 3% to 31.8 mln tn because of higher acreage under cane on the back of normal monsoon forecast this year. Farmers in the country have sown summer crops across 7.38 mln ha so far in 2020-21 (Jul-Jun), up nearly 22% on year, farm ministry data showed.
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