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Agri Picks Report: Geojit

According to According to The southwest monsoon has further advanced into the remaining parts of northwest Bay of Bengal, some more parts of Odisha, most parts of West Bengal, and some parts of Jharkhand and Bihar, the India Meteorological Department said in a notification.

June 14, 2021 / 08:49 AM IST

Geojit's report on Agri Picks


The southwest monsoon has further advanced into the remaining parts of northwest Bay of Bengal, some more parts of Odisha, most parts of West Bengal, and some parts of Jharkhand and Bihar, the India Meteorological Department said in a notification. Arrivals of mentha oil from the new crop have commenced in the key markets of Uttar Pradesh and prices of the spice oil are down 5-6% on year due to dwindling demand amid a rise in supply, market participants said. India received 6.4 mm rainfall, 34% above the normal weighted average of 4.8 mm, according to India Meteorological Department. The US Department of Agriculture, in its report for June, has raised its forecast for global wheat production for 2021-22 to 794.44 mln tn from 788.98 mln tn estimated in May. The US Department of Agriculture has marginally raised its estimate for global oilseed production in 2021-22 to 632.9 mln tn, from 632.2 mln tn projected in May. Tea plantations in Darjeeling are bracing for huge losses as pre-monsoon rain has cut short the production of the coveted "second flush" crop. This year, tea output is likely to slip to 6.7 mln kg from 6.8 mln-7.5 mln kg recorded in the past five years. The US Department of Agriculture has scaled down its estimate for global production of cotton in 2021-22 (Aug-Jul) to 118.9 mln bales (1 US bale = 218 kg), compared with 119.4 mln bales projected a month ago. Indore, a benchmark market for chana, wheat and soybean, resumed operations from today after being shut for nearly two months. Initially, the market was shut on account of local festivals, and then from Apr 19 due to COVID-19 lockdown in the state.

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first published: Jun 14, 2021 08:49 am

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