Agri Picks Report January 16, 2025: Geojit Financial Services

commodities

Geojit Financial Services's report on Daily Agri Picks

In the 2024-25 (Oct-Sept) season, mills in India have produced 13.1 million tonnes of sugar as of Wednesday, down 13.7% from 15.1 million tonnes produced in the same period a year ago, according to data from the National Federation of Cooperative Sugar Factories. Rabi sowing across the country as of Friday was 63.2 million hectares, up just 0.1% from last year, according to data from the Department of Agriculture and Farmers Welfare. The area sown under wheat, the main rabi crop, was up 1.4% on year at 32.0 million hectares, the data showed. The area under rabi paddy was up 2.6% on year at 2.21 million hectares. The acreage under maize rose nearly 10% on year to 2.24 million hectares. Above-normal rainfall during the southwest monsoon led to higher moisture content in the soil, which aided the sowing of rabi crops. The country received 8% above normal rainfall at 934.8 mm in the southwest monsoon, according to the India Meteorological Department. In the northeast monsoon, in the Oct. 1 to Dec. 31 period, India received 117.4 mm rainfall, 3% below the normal of 121.0 mm, according to the IMD. Since Jan. 1, the country has received 1.4 mm rainfall, 64% below the normal of 3.8 mm for the period. The area under pulses was 13.98 million hectares, up 0.5% from 13.91 million hectares a year ago, the data showed. Under pulses, the acreage of chana was 9.67 million hectares, up 0.8% from the area sown in the previous year. Chana is the main legume grown during the rabi season. Masur acreage was down nearly 2% at 1.74 million hectares. Chana acreage is likely to rebound to its normal of 10 million hectares from the fall seen last year, though the yield will depend on the weather in January and February, G. Chandrashekhar, an agri-business expert, said. "However, while chana sowing may reach the normal acreage, it may not go beyond (the normal) as some farmers have shifted to wheat production, especially in states such as Madhya Pradesh where both chana and wheat are major crops," Chandrashekhar said. The area under oilseeds was down nearly 5% on year at 9.68 million hectares. Mustard acreage was 8.85 million hectares, down 5.6% from a year ago. The area under groundnut was up 6.7% to 365,000 hectares while the area under sunflower was up 72.1% at 74,000 hectares.

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16012025 - co