Agri Picks Report June 28, 2024: Geojit Financial Services

commodities

Geojit Financial Services's report on Daily Agri Picks

The area under paddy in Telangana this kharif season was at 72,243 acres as of Wednesday, up 340% from 16,408 acres a year ago, according to official data. The overall kharif acreage in the state was 3.8 mln acres, significantly up from 418,039 acres a year ago. One acre is around 0.40 hectare. Maize acreage was up at 125,235 acres from 7,525 acres the previous year. "Sowing of rainfed crops like jowar, bajra, maize, ragi, pulses, groundnut, soybean, cotton etc, is under progress. Raising of paddy nurseries and sowing of rainfed crops will be in full swing in the next two weeks," the state government report said. The state received moderate to good rain during the week to Wednesday at 36.7 mm rain, 29% above the normal of 28.4 mm. The water level in major reservoirs in the state was at 229.51 bln cu ft, lower than 360.05 bln cu ft a year ago, the data showed. Kharif crops are sown at the beginning of the first rains during the beginning of the southwest monsoon season around June, and harvested at the end of the monsoon season around October. Cotton, the major kharif crop grown in the state, was sown across 2.85 mln acres, massively up from 324,796 acres a year ago. The area under pulses, including red gram, green gram, horse gram, and black gram, was up at 202,360 acres from 32,068 acres last year. The area under coarse grains was at 142,785 acres, up from 9,610 acres a year ago. Food grain acreage rose to 417,639 acres from 58,086 acres. Oilseeds were sown across 206,187 acres, higher than 9,423 acres a year ago. Soybean, which accounted for 98.6% of the oilseeds acreage, was up at 203,242 acres from 8,840 acres. The Monsoon is likely to reach the national capital territory of Delhi anytime between Friday and Sunday, private weather agency Skymet said. The capital city and suburbs can expect some heavy showers during the weekend, the agency said. Pre-monsoon showers are likely over Delhi till the arrival of the monsoon over the weekend, Skymet said. Delhi has witnessed nearly drought-like conditions in the pre-monsoon months of March, April, and May as rainfall was below normal by 75%, 54% and 99% respectively, it said.

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