Geojit's report on Agri Picks
India's cotton acreage in 2022-23 (Jul-Jun) is expected to rise 9% on year to 13.2 mln ha, as per the median of the estimates of 10 prominent players in the cotton value chain polled by Informist. The Centre has procured 18.5 mln tn of wheat under the minimum support price in the ongoing 2022-23 (Apr-Mar) rabi marketing season as of Sunday, according to an official release. Conditions are favourable for further advancement of southwest monsoon to remaining parts of Kerala in three to four days, the India Meteorological Department said. Stakeholders in the textile industry have urged the government to extend duty-free cotton imports till Dec 31 to boost textile exports and help address the dearth of raw material in the market. Regional authorities will conduct physical verification of all letter of credits for wheat exporters, whether already approved or in the process, with the assistance of a professional agency if necessary, the Directorate General of Foreign Trade said in a notification.
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