Agri Picks Report July 03, 2024: Geojit Financial Services

commodities

Geojit Financial Services's report on Daily Agri Picks

The southwest monsoon current today covered the whole of India, six days ahead of the normal date, which is Jul 8, the India Meteorological Department said. The current further advanced into the remaining parts of Rajasthan, Haryana, and Punjab, the weather agency said. Very heavy rainfall is likely over parts of Bihar till Wednesday, and over Arunachal Pradesh, Assam and Meghalaya till Thursday, the department said. Sub-Himalayan West Bengal, Sikkim, Nagaland, Manipur, Mizoram and Tripura are also likely to experience very heavy showers till Friday, the agency said. Extremely heavy rainfall is predicted over Arunachal Pradesh, Assam, and Meghalaya on Friday and Saturday, it said. • India is expected to receive above normal rainfall over 106% of the long period average for July as El Nino conditions have turned neutral, the India Meteorological Department said on Monday. La Nina conditions, associated with higher rainfall over India, are likely to develop during Aug-Sep, the weather bureau said in a virtual conference. The long period average for rainfall in July based on data from 1971-2020 is about 28.04 cm, according to the agency. During July, normal to above normal rainfall is most likely over most parts of the country except many regions of northeast India and some parts of northwest, east, and south peninsular India, where below normal precipitation is likely, it said. There is an 80% probability of the country receiving normal to above normal rainfall in July, the weather bureau further said. "Above-normal rainfall can significantly benefit agriculture and water resources, but also brings potential risks such as flooding, landslides, surface transport disruptions, public health challenges, and ecosystem damage," the bureau said in a release. Delhi may receive heavy to extremely heavy rainfall during July, the weather bureau said. On Jun 28, Delhi's Safdarjung station received 228.1 mm rainfall. This was the second-highest amount of rainfall in 24 hours recorded at Safdarjung since 1936. Maximum temperatures over the country are likely to be normal to below normal over many parts of the northwest and south peninsular regions, except the west coast of India. Above normal maximum temperatures are expected over many parts of central India, east and northeast regions, and along the western coast, the weather agency said. Minimum temperatures are likely to be above normal in many parts of the country except some pockets of northwest India, adjoining areas of central India, and southeastern peninsular India, according to the weather bureau. It also said northwest India experienced the warmest June this year since 1901.

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