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Agri Picks Report: Geojit

According to According to Persistently high prices in the domestic market continued to be a drag on India's cotton exports in June, trade officials said.

July 06, 2021 / 09:28 IST

Geojit's report on Agri Picks

Persistently high prices in the domestic market continued to be a drag on India's cotton exports in June, trade officials said. Just 300,000-400,000 bales (1 bale = 170 kg) of cotton were exported in June, a sharp drop from 500,000-600,000 bales shipped in May. In both March and April, exports stood at around 700,000-800,000 bales. The Securities and Exchange Board of India issued new directions to stock exchanges, depositories and clearing corporations with regard to handling of technical glitches and payment of financial disincentives. The market regulator has introduced a penalty system for these market infrastructure institutions for delays in adhering to SEBI's timelines in the handling of technical glitches. India received 5.3 mm of rainfall yesterday, 38% below the normal weighted average of 8.5 mm, according to the India Meteorological Department. However, the south peninsula received 10 mm rainfall, 51% above normal. The southwest monsoon is likely to hit Delhi, along with remaining parts of Punjab, Haryana and Rajasthan, around Saturday, the India Meteorological Department said in a release. The Food Corp of India is likely to procure 90 mln tn of paddy in the 2020-21 (Oct-Sep) kharif marketing season, Chairman and Managing Director Atish Chandra said today. He was speaking at a webinar organised by the food ministry. The National Commodity and Derivatives Exchange has launched sectorial indices for guar and soy complex yesterday, the bourse said in a release.

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first published: Jul 6, 2021 09:28 am

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