Agri Picks Report: Geojit
According to Geojit, Rubber prices rose nearly 10% over the past three-four weeks and hit a record high of 140 rupees a kg due to pent-up demand after easing of the pandemic induced lockdowns amid a supply crunch.
September 10, 2020 / 10:30 AM IST
Geojit's report on Agri Picks
Rubber prices rose nearly 10% over the past three-four weeks and hit a record high of 140 rupees a kg due to pent-up demand after easing of the pandemic induced lockdowns amid a supply crunch. The momentum is, however, unlikely to sustain. Arrivals of the soybean crop harvested in 2020-21 (Jul-Jun) have started in some markets of Madhya Pradesh, traders said. However, heavy rains have hit the quality of the crop from western parts of the state. India received 3.6 mm rainfall yesterday, 46% below normal, the India Meteorological Department said. Since Jun 1, the country has received 823.4 mm rainfall, 7% above normal, and during the week rainfall was 33.2 mm, 30% below normal. The Gujarat government has decided to procure groundnut harvested in 2020-21 (Jul-Jun) at the minimum support price from Nov 19, Minister for Consumer Affairs, Food & Civil Supplies in the state Jayesh Radadia said. The government aims to add 10 mln ha to the micro irrigation plan in five years to boost yield of crops, Farm Minister Narendra Singh Tomar said. Despite the government's push for natural farming, as little as 2% of the net sown area in the country is organically farmed, according to a study by the Centre for Science and Environment. The study, released by NITI Aayog Vice Chairman Rajiv Kumar on Tuesday, noted that just 1.3% of the country's farmers are registered as practising organic farmers.
For all commodities report, click here
Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.