Geojit's report on Agri Picks
Conditions are turning favourable for the onset of the southwest monsoon over the Kerala coast on the normal onset date of Jun 1, India Meteorological Department Director General Mrutunjay Mohapatra said. Earlier, the weather bureau had forecast that the monsoon current would hit the Kerala coast on Jun 5, four day after the normal date. • Private cargo surveyor AmSpec Agri Malaysia reported palm oil exports at 1.03 mln tn during May 1-25, up 10% on month. • Over the past few weeks, incidents of stubble burning in parts of north India, especially Punjab, have spiked, which is unusual for this time of the year as farmers resort to this cost-effective way to dispose of crop residue only in OctNov when kharif rice harvest is in full swing. • The National Federation of Cooperative Sugar Factories has sought from the government time till Jun 30 for mills to exhaust their May sales quota, industry officials said. • Demand for coffee globally is likely to be affected going forward as consumers are seen becoming price sensitive, according to a report by the International Coffee Organization. • The US Department of Agriculture's Foreign Agricultural Service sees India's 2020 -21 (Oct-Sep) sugar production to rise 14.4% to 30.9 mln tn because of higher acreage on the back of normal monsoon forecast this year and favourable growing conditions.
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