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Agri Picks Report: Geojit

According to According to India Meteorological Department said the southwest monsoon is likely to hit the Kerala coast on Jun 3, even as private weather forecaster Skymet said the monsoon has hit the southern state.

May 31, 2021 / 09:49 AM IST

Geojit's report on Agri Picks

India Meteorological Department said the southwest monsoon is likely to hit the Kerala coast on Jun 3, even as private weather forecaster Skymet said the monsoon has hit the southern state. Castor seed prices, which have already risen 11% in the last three months, are expected to rise another 10% by July due to strong demand for castor oil from China, say market participants. Cyclone Tauktae has devastated crops spread over 20,664.73 ha in Kerala, which has led to losses of around 7.61 bln rupees for farmers. Private weather forecaster Skymet’s President G.P. Sharma does not expect cyclones or any other disturbances to play spoilsport for the route and trajectory of south-west monsoon currents. He expects the currents to reach the Indian mainland and progress well into the Jun-Sep wet season. Farmers in the country have sown summer crops across 8.04 mln ha in 2020-21 (Jul-Jun), up over 21% on year, farm ministry data shows.