Agri Picks Report January 10, 2024: Geojit

commodities

Geojit's report on Agri Picks

The National Commodity and Derivatives Exchange Ltd has cut the additional surveillance margin on all jeera contracts by 2% effective from today, the exchange said in a circular. Prior to this development, the additional margin on both the long and short sides was at 4%. This change in the additional margin will be applicable to all running and yet-to-be-launched jeera contracts. The area under rabi crops in Gujarat was at 4.52 mln ha in the current season as of Monday, up 1.6% from last year, according to data from the state agriculture department. Wheat, the key rabi crop grown in the state, was sown over 1.22 mln ha, down 5.4% from 1.29 mln ha last year. The normal area for the crop, which is the average of the last three years, is at 1.30 mln ha. The area under maize cultivation in the state rose nearly 6% on year to 111,381 ha. The acreage of rabi cereals was down 3.5% on year at 1.36 mln ha. The acreage of rabi pulses was down 16.4% on year at 674,725 ha. The acreage of chana, the major pulse in Gujarat and accounting for 93.2% of the rabi pulses, was at 629,149 ha, down from 764,378 ha a year ago. Of the total oilseeds' acreage at 277,237 ha, mustard was sown over 276,816 ha, and was down 9.3% on year from 305,147 ha, the data showed. The area under jeera has more than doubled to 560,841 ha, from 275,655 ha last year. The normal area for the crop is 350,666 ha. Gujarat is the largest producer of the spice. The acreage under coriander was down 43% on year at 126,756 ha. Gujarat is the second-largest producer of the spice. Among other crops, sowing of tobacco was down 3.3% from the previous year at 132,128 ha, while that of sugarcane rose to 184,050 ha from 175,720 ha. Sowing of vegetables marginally dropped to 195,661 from 198,665 ha last year. Potato acreage, on the other hand, rose slightly to 134,529 ha from 131,414 ha the previous year. The area under fodder was at 592,143 ha, down from 604,905 ha in the year-ago period.

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.

10012024 - coom