Agri Picks Report January 20, 2025: Geojit Financial Services

commodities

Geojit Financial Services's report on Daily Agri Picks

India’s oilmeal exports dropped by 25% year-on-year to 398731 tonnes in December, while total exports for Apr-Dec fell 10% to 3.15 million tonnes, according to the Solvent Extractors' Association of India. The decline was driven primarily by lower exports of rapeseed meal and castor seed meal. Rapeseed meal exports during Apr-Dec fell to 1.41 million tonnes from 1.82 million tonnes, with Bangladesh, south Korea, Thailand, and Vietnam as major buyers. Despite an increase in soymeal exports, the global supply glut and rising competition are expected to slow future exports. Rajasthan's production of chana in the ongoing rabi season 2024-25 (Oct-Mar) is expected to rise 32.1% to 2.5 million tonnes from 1.9 million tonnes in the rabi season last year, according to the first advance estimates of area, production and yield released by the state's agriculture department. The total area sown under all rabi crops in the state stood at 11.2 million hectares, down slightly by 0.8% on year from 11.3 million hectares a year ago, the data showed. The total rabi production in the state is pegged at 22.1 million tonnes, down 2.1% on year from 21.6 million tonnes produced last year. The total output of all food grains in the current rabi season is expected to be 16.4 million tonnes, up 8.2% on year from 15.2 million tonnes last year, according to the data. Under food grains, the total output of cereals is seen rising 4.7% on year to 13.8 million tonnes, while that of pulses is pegged at 2.6 million tonnes, up 31.3%, the data showed. Wheat output in the current rabi season in the state is expected to be 12.2 million tonnes, up 1.8% on year from 12 million tonnes last year, the data showed. The production of maize in the state is seen rising 4% on year to 110,853 tonnes from 106,584 tonnes last year. Under pulses, the output of masur is seen rising nearly 38% on year to 47,292 tonnes from 34,290 tonnes last year. On the other hand, the production of matar, or green peas, is seen falling 10.1% on year to 28,277 tonnes, the data showed. The total production of all oilseeds is predicted to fall 12.2% on year to 5.7 million tonnes from 6.4 million tonnes a year ago, according to the data. Under oilseeds, the output of rapeseed and mustard, a major rabi oilseed, is pegged at 5.6 million tonnes, down 11.7% on year from 6.3 million tonnes in the previous rabi season last year. The output of tarameera, or arugula seeds, is expected to fall 8.9% on year to 82,326 tonnes, the data showed.

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