Agri Picks Report March 22, 2024: Geojit

commodities

Geojit's report on Daily Agri Picks

The National Commodity and Derivatives Exchange of India has decided to advance the expiry date of some farm futures contracts as voting for the general election is scheduled at the basis centres of the contracts on the earlier expiry date, it said in a release. Physical markets in these centres will remain closed on the said date due to the general election, the exchange said. Futures contracts of bajra, barley and groundnut, which were to expire on Apr 19, will now expire on Apr 18, the exchange said, as voting in Jaipur, Sriganganagar and Bikaner, the respective basis centres, is scheduled on Apr 19. "Accordingly, the staggered delivery period for the said contracts shall commence from April 10, 2024," the exchange said. Elections to constitute the 18th Lok Sabha will begin on Apr 19 and will be held over seven phases till Jun 1. Votes will be counted on Jun 4. India's exports of fruits, vegetables, and spices rose in value terms in February on a year-on-year basis, while those of oilmeals declined during the same period, according to data released by the commerce ministry. India's exports of fruits and vegetables were up 13% on year in February at $407 mln. Exports of spices rose 15% on year to $431 mln in the same period. Rice exports were a tad up by 2% on year to $1.05 bln, and exports of other cereals fell 82% on year to $21 mln. Gems and jewellery exports fell 11% on year to $3.2 bln in February. Exports of meat, dairy, and poultry products rose 38% on year to $422 mln. Exports of oilmeals fell 25% on year to $171 mln and oilseed exports rose 38% on year to $146 mln. Coffee exports rose 46% on year to $146 mln and tea exports gained 38% to $80 mln, according to the data.

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