Geojit's report on Agri Picks
After scaling all-time highs in August, average prices of tea at major auction centres in the country have retreated from those levels as operations in the sector are gradual returning to normal. Punjab started procurement of kharif rice on Sunday from 4,035 centres in the state. The state aims to procure around 17 mln tn of rice this year, the government said in a release. The southwest monsoon has started withdrawing from parts of west Rajasthan and Punjab, the India Meteorological Department said. The normal date for the monsoon to start withdrawing from west Rajasthan is Sep 17. The Centre has allowed all states to start procurement of kharif rice for 2020-21 (Oct-Sep) from today, the food ministry said in a release. Usually, procurement of kharif rice starts on Oct 1. The government expects India's urea requirement in the 2020-21 (Jul-Jun) rabi season to be a tad higher on year at around 18.1 mln tn, a senior government official said. India received 1.8 mm rainfall yesterday, 53% below normal, the India Meteorological Department said. Since Jun 1, the country has received 953.1 mm rainfall, 9% above normal. The government has sold 312,920 tn wheat under the open market sale scheme since April, a senior government official said. So far in September, the government has sold 141,300 tn wheat. The government has sold 732,540 tn of rice under the open market sale scheme since April, a senior government official said.
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