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Agri Picks Report: Geojit

According to Geojit , Narendra Modi announced the government's decision to repeal the controversial three new farm laws.

November 22, 2021 / 09:05 AM IST

Geojit's report on Agri Picks

Narendra Modi announced the government's decision to repeal the controversial three new farm laws. In an address to the nation, Modi said the legal work to repeal the new laws would take place in the Winter Session of Parliament, which begins on Nov 29. India's oilmeal exports fell 50.6% on year to 157,467 tn in October, according to data released by The Solvent Extractors' Association of India. In Apr-Oct, overall exports of oilmeal were at 1.43 mln tn, down 11.5% on year. India imported over 1.51 mln tn of pulses during Apr 1-Nov 15, with imports of tur, urad and moong rising sharply from last year, the government said in a release. During Apr-Nov last year, the country had imported around 1.39 mln tn of pulses. India's GDP growth rate is likely to be in the range of 7%-7.5% in 2022-23 (Apr-Mar) on account of a recovery expected in contact intensive sectors as well in the construction sector, according to members of the Economic Advisory Council to the Prime Minister. The International Sugar Organization has reduced its estimate for global deficit of the sweetener by 1.03 mln tn to 2.552 mln tn for 2021-22 (Oct-Sep). The organisation sees 2021-22 global sugar production at 170.473 mln tn, down 185,000 tn from the estimate in August. It also revised the global consumption estimate lower to 173.025 mln tn from 174.467 mln tn seen in August. Annual inflation based on the CPI for Agricultural Labourers fell to a six-month low of 2.76% in October from 2.89% a month ago, data released by the Labour Bureau showed.

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first published: Nov 22, 2021 09:05 am

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