Agri Picks Report July 29, 2024: Geojit Financial Services

commodities

Geojit Financial Services's report on Daily Agri Picks

The Centre has set the domestic sugar sales quota for August at 2.2 mln tn, down from 2.4 mln tn last month, the food and public distribution department said in a post on social media platform X. The quota for August is down 8.3% on month and 6.4% on year. In August 2023, the quota was set at 2.35 mln tn. The government fixes the maximum quantity of sugar available for sale every month to support prices and help mills clear the arrears of sugarcane farmers. • Water level in 150 key reservoirs of the country as of Thursday was 69.27 bcm, 39% of the total live storage capacity of 178.784 bcm, according to data from the Central Water Commission. The current water storage is down 18% from a year ago and 4% from the average of the past 10 years. In the northern region, the water level in the reservoirs was 5.786 bcm, 29% of the live storage capacity compared with 75% a year ago. In the eastern region, the water level was 5.630 bcm, 28% of the live storage capacity against 26% a year ago. In the western region, the water level was 15.274 bcm, 41% of the live storage capacity against 54% a year ago. In the central region, the water level was 16.042 bcm, 33% of the live storage capacity. A year ago, the level was 52% of the live storage capacity. In the southern region, the water level was 26.538 bcm, 50% of the live storage capacity compared with 35% a year ago. The water level in reservoirs in Assam, Jharkhand, West Bengal, Tripura, Nagaland, Karnataka, Kerala and Tamil Nadu was higher in percentage terms compared with the same period last year. However, those in Rajasthan, Bihar, Himachal Pradesh, Punjab, Madhya Pradesh, Gujarat, Maharashtra, Uttar Pradesh, Uttarakhand, Chhattisgarh, Telangana and Andhra Pradesh were down from last year. The water level in reservoirs in Odisha was the same as last year. Of the 150 reservoirs, 106 reported more than 80% of normal storage, while 44 reported 80% or lower of normal storage levels. Of the 44 reservoirs, 18 had storage up to only 50% of the normal level. Since Jun 1, India has received 399.2 mm of rainfall, 2% above the normal of 389.7 mm for the period, according to the India Meteorological Department.

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29072024 - co