Agri Picks Report March 27, 2025: Geojit Financial Services

commodities

The Securities and Exchange Board of India has extended the suspension of derivatives trade in wheat, chana, moong, paddy (non-basmati), mustard seeds and its derivatives, soya bean, and crude palm oil by another year, till Mar. 31, 2026, the regulator said in a release on Monday. In 2021, the government had imposed a ban on derivatives trading in the seven commodities for a year to check rising prices. The ban was extended consecutively each year till December 2024, and twice more till Mar. 31 this year. Sowing of rabi crops in Telangana was at 7.4 million acres (1 acre = 0.4 hectares) as of Wednesday, up 12.7% from 6.6 million acres sown in the same period last year, according to a report released by the state agriculture department. The normal acreage for the season in the state is 6.4 million acres, the report said. The acreage under maize rose by 27.6% on year to 823,939 acres from 645,600 acres last year, the report showed. The acreage under paddy also rose to 5.6 million acres from 5.0 million acres a year ago. The area sown under jowar was 287,067 acres, up from 227,826 acres last year. Rabi crops are sown between October and December after the monsoon, and harvested between February and May. However, sowing started late this year because of a delay in withdrawal of the southwest monsoon, which in turn delayed the harvest of kharif crops. Chana acreage in the state fell to 220,734 acres from 255,187 acres a year ago, according to the report. On the other hand, the acreage under black gram, or urad, was 47,571 acres, up from 35,551 acres last year. The total area sown under all pulses was 294,676 acres, down from 318,556 acres a year ago. The total area sown under all oilseeds so far was 298,400 acres, up from 271,538 acres sown in the previous year, the report showed. Under oilseeds, the acreage under groundnut rose to 243,143 acres from 208,791 acres a year ago. Tobacco acreage in the state so far rose to 17,403 acres from 9,902 acres last year, while that of sugarcane also rose to 14,102 acres from 4,525 acres in the corresponding period last year, according to the report. Paddy is in the 'grain formation' stage, while the harvest of groundnut, sunflower, urad, and chana has commenced and is in its peak stage, the report said. The water level in reservoirs across Telangana was 443.62 billion cubic metres as of Wednesday, compared with 272.79 billion cubic metres a year ago, according to the report. India's oilmeal exports in February fell 36% on year to 330,319 tonnes, according to data released by The Solvent Extractors' Association of India on Tuesday. Total oilmeal exports in Apr-Feb fell 12% to 3.9 million tonnes, the data showed. The decline in exports in Apr-Feb was mainly due to a fall in the exports of rapeseed meal and castor seed meal, the association said. The overall export of soymeal during Apr-Feb has been more or less same as last year and is reported at 1.94 million tonnes compared with 1.93 million tonnes in the same period last year. Germany and France are the major countries that import non-gentically modified soymeal from India. However, export of soymeal in the first five months of oil year 2024- 25 (Oct-Sept) was 1.03 million tonnes, compared with 1.35 million tonnes, down by 23%, according to the association.

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