Agri Picks Report January 07 2025: Geojit Financial Services

commodities

Geojit Financial Services's report on Daily Agri Picks

Growth of the agricultural and allied sectors is likely to be 3.5-4% this year, Minister of Agriculture and Farmers Welfare and Rural Development Shivraj Singh Chouhan said, according to a release by the ministry. Chouhan held a virtual review meeting of various schemes of the ministry with the agriculture ministers of the states and Union territories in New Delhi on Saturday. The UN Food and Agriculture Organization's Food Price Index fell 0.5% on month to 127.0 points in December as declining prices of sugar, dairy products, vegetable oils, and cereals offset increases in meat, the organisation said in a report. The Food Price Index in December was 6.7% higher than a year ago, but 20.7% below its peak of 160.2 points touched in March 2022, the report said. Farmers in Telangana have sown rabi crops over 1.88 million acres as of Wednesday, 39% higher than 1.36 million acres sown a year ago, according to a report released by the state agriculture department. Maize acreage in the state was 514,803 acres, up nearly 98% on year from 260,121 acres a year ago. Good rainfall in late September and early October led to optimal conditions for sowing of rabi crops, the report said. The state received 30% excess rainfall during the southwest monsoon season at 962.6 mm, compared with the normal of 738.6 mm, the report said. The area under paddy so far rose to 753,448 acres from 521,913 acres a year ago. The area under jowar rose to 97,536 acres from 48,805 acres, the report showed. Rabi crops in Telangana are sown between October and December after the monsoon rains are over, and harvested between February and May. This year, however, sowing started late because of delay in the withdrawal of the southwest monsoon, which in turn delayed the harvest of kharif crops. The normal acreage for the season in Telangana is 6.35 million acres (1 acre = 0.4 hectares), the report said. Chana acreage as of Wednesday was 205,858 acres, down from 238,812 acres a year ago, the report showed. On the other hand, the area under black gram, or urad, was 37,425 acres, up from 26,117 acres a year ago. The total area under all pulses was 252,033 acres, down from 271,832 acres a year ago. The total area under oilseeds was 219,676 acres, up from 202,752 acres a year ago. Under oilseeds, the acreage of groundnut rose to 204,756 acres from 182,100 acres a year ago. As of Wednesday, tobacco acreage in the state was 8,981 acres, sharply higher than 4,195 acres a year ago, according to the report. Most crops are in the seedling to vegetative stage, the report said. Paddy sowing is in progress and the early-sown groundnut crop is in the flowering to ripening stage, it said. The water level in reservoirs across the state was 754.21 thousand million cubic feet as of Wednesday, compared with 439.59 thousand million cubic feet a year ago, according to the report.

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.

07012025 - co