Geojit's report on Agri Picks
Sugar production by mills in Brazil's centre-south region fell by 38.7% on year to 934,000 tn during Apr 16-30, UNICA, the country's sugarcane industry association, said in a report. The output was 1.5 mln tn a year ago. The Commission for Agricultural Costs and Prices has recommended the Centre allow sugar mills across the country to stagger the payment of the fair and remunerative price of sugarcane across three instalments starting 2022-23 (Oct-Sep), two senior government officials told Informist. The Food Corp of India has recommended that the food ministry relax quality norms for procurement of wheat in Punjab and Haryana, following the heatwave that has led to shrivelling of grains, senior government officials told Informist. The US Energy Information Administration in its Short Term Energy Outlook for May has lowered its forecast for global petroleum and liquid fuel consumption in 2022 due to a slowdown in consumption growth in China and the US. The Reserve Bank of India has been active in the foreign exchange market in the last few days to smoothen volatility and prevent jerky movements in the rupee, but it is not targeting a specific level for the Indian unit against the greenback, a banking industry source said.
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