Geojit's report on Agri Picks
The Cotton Association of India has reduced its production estimate for the 2021-22 (Oct-Sep) marketing season to 34.3 mln bales (1 bale = 170 kg), from 34.8 mln bales projected a month ago, it said in a release. The government also estimated that it is likely to procure 4.92 mln tn of the rabi rice crop from the seven procuring states in the 2021-22 kharif marketing season, according to an official release. After a delay of almost a fortnight, rabi crop of chana has started arriving at Indore in Madhya Pradesh over the past few days, traders told Informist. Indore is one of the biggest spot markets for chana. India's CPI inflation is likely to increase by 52-65 basis points if the average price of India's crude oil basket rises to $100 per barrel, State Bank of India said in a report. The price of India's crude oil basket rose $5.24 to $100.71 per barrel on Thursday, the highest level since September 2014, according to data from the Petroleum Planning and Analysis Cell.
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