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Agri Picks Report: Geojit

According to Geojit, Global consumption of edible oils is expected to fall 30-40% in 2020 because of coronavirus lockdowns, said Dominic Xavier, Middle East and North Africa region head at Sime Darby Oils.

September 09, 2020 / 09:17 AM IST

Geojit's report on Agri Picks


Global consumption of edible oils is expected to fall 30-40% in 2020 because of coronavirus lockdowns, said Dominic Xavier, Middle East and North Africa region head at Sime Darby Oils. State Bank of India is going to launch a loan facility based on artificial intelligence and data analytics for organic cotton growers soon, Managing Director C.S. Setty said. Union Farm Minister Narendra Singh Tomar today inaugurated 22 bamboo clusters in Madhya Pradesh, Assam, Karnataka, Nagaland, Tripura, Odisha, Gujarat, Uttarakhand, and Maharashtra, the government said in a release. India received 4.7 mm rainfall yesterday, 25% below normal, the India Meteorological Department said. Below-normal showers pushed the average for the season to 107% of the long-period average from 108% on Monday. Prices of crude oil in global and domestic markets extended their losses as investors remained worried about demand prospects for the fuel. Maharashtra has given permission to sugar factories turning losses for three consecutive years to run on a partnership basis, through joint venture or on lease, for 5-15 years, in a bid to revive cooperative mills, a state government resolution said. The government has sold 175,010 tn wheat under the open market sale scheme since April, a senior government official said. So far in September, the government has sold 3,390 tn wheat. Ending stocks of masur in Canada, a major supplier to India, fell by a whopping 91.5% on year to 61,000 tn as at the end of the crop year 2019-20 (Aug-Jul) due to higher exports to its three major buyers--India, Turkey, and United Arab Emirates--Statistics Canada, the apex statistics body of the country, said in a report.

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first published: Sep 9, 2020 09:17 am

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