Geojit's report on Agri Picks
The US Department of Agriculture's Foreign Agricultural Service expects India's cotton production in 2022-23 (Aug-Jul) to increase 4% to 27.7 mln bales (1 US bale = 218 kg) because of likely higher acreage under the crop on the back of a normal monsoon forecast this year. The Centre has set a target to export 7 mln tn wheat in 2022, against 2.1 mln tn a year ago, said Commerce and Industry Minister Piyush Goyal in Parliament. The Cabinet tpproved extension of the free food grain plan for the poor for six months till September at an additional cost of 800 bln rupees. The scheme--Pradhan Mantri Garib Kalyan Anna Yojana--launched during the nationwide lockdown in April 2020, provides 5 kg wheat or rice per person per month free. The scheme covers nearly 800 mln beneficiaries across India and is fully funded by the Centre.
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