Geojit's report on Agri Picks
India received 93.5 mm rainfall in the week ended yesterday, 50% above the normal of 62.4 mm for the period, data released by the India Meteorological Department showed. Since Jun 1, India has received 306.6 mm rainfall, 11% above the normal level of 275.7 mm for the period. India's vegetable oil imports fell 0.4% on year to 991,650 tn in June, The Solvent Extractors' Association of India said . The US Department of Agriculture has scaled down its estimate for global cotton production in 2022-23 (Aug-Jul) to 120.1 mln bales (1 US bale = 218 kg) from 121.3 mln bales projected a month ago. The cut in the estimate is attributed to lower production in the US and Brazil, the agency said in its World Agricultural Supply and Demand Estimates report for July. The US Department of Agriculture in its July report has lowered its estimate for global oilseed output for 2022-23 (May-Apr) to 643.1 mln tn from 646.8 mln tn projected the previous month. The US Department of Agriculture, in its report for July, has lowered forecast for global wheat consumption,as well as production, in 2022-23 (May-Apr).
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