Agri Picks Report July 23, 2024: Geojit Financial Services

commodities

Geojit Financial Services's report on Daily Agri Picks

The area under kharif soybean in 2024 is 11.8 mln ha, down just 0.3% from the previous year, according to a survey by the Soybean Processors Association of India. The survey was undertaken by two teams of SOPA which travelled to major soybean growing districts of Madhya Pradesh, Maharashtra, and Rajasthan. As per the survey, the area under soybean this year is almost the same as last year, although in some areas there has been some shift from soybean to other crops, mainly maize and pulses. The survey also found a shift to soybean from other kharif crops. The acreage under kharif soybean in Madhya Pradesh, one of the top producers of the crop, was 5.1 mln ha, down 1.5% from the previous year, as per the survey. According to government estimates, the area under soybean cultivation is 5.2 mln ha. The acreage under soybean in Maharashtra, another top producer of the crop, was 4.8 mln ha, up 4.3% from the previous year. According to government estimates, the area under soybean in the state was largely the same as the association's survey. The government sowing figures are still not updated and may be revised upwards, the association said. In Rajasthan, the area under soybean was 1.0 mln ha, down 7.2% on year, while as per the government data, the acreage for kharif soybean was also largely the same at 1.0 mln ha as the association data. The association took an extensive crop acreage and health monitoring survey of soybean crops in Madhya Pradesh, Maharashtra, and Rajasthan between Jul 10 and 16. As far as crop health is concerned, no major threats were found anywhere. However, the association said it is too early to form an opinion as the crop progress will be heavily dependent on the progress ofthe monsoon, rainfall distribution, and temperatures in the coming months.

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.

23072024 - co