Agri Picks Report May 06, 2024: Geojit Financial Services

commodities

Geojit Financial Services's report on Daily Agri Picks

Farmers in the country have sown summer crops across 7.27 mln ha as of Friday, up nearly 7.2% from 6.78 mln ha last year, data from the agriculture ministry showed. The acreage under rice, maize, pulses, and oil seeds was higher than the last year, despite below-normal rainfall and depletion of water in key reservoirs across the country. Experts say more than usual heatwave days during Apr-Jun are likely to affect the harvest of summer crops. Heatwave conditions are currently prevailing over a few areas in Gangetic West Bengal, Telangana, interior Karnataka, coastal Andhra Pradesh, Rayalaseema, Jharkhand, and Tamil Nadu, according to the India Meteorological Department. Maximum temperatures ranging between 44 degrees Celsius and 47 degrees Celsius are likely to continue over coastal Andhra Pradesh, Yanam, Telangana and Rayalaseema today and decrease thereafter, the bureau said. Acreage under pulses was up 4% on year at 2.0 mln ha with sowing of moong rising 5.5% to 1.67 mln ha. However, acreage under urad fell to 319,000 ha from 324,000 ha in the corresponding period last year. For rice, the area sown rose nearly 10% on year to 3.03 mln ha. The total acreage for coarse cereals was at 1.2 mln ha, up 9.3% from the corresponding period last year. Bajra was sown across 466,000 ha, up from 445,000 ha a year ago. Maize was sown across 684,000 ha, up 10% from last year. Jowar acreage was 45,000 ha, up by a whopping 104.5%and acreage under Ragi was down at 13,000 ha from 18,000 ha from a year ago. The acreage of oilseeds was 1.02 mln ha, up from 983,000 ha from last year. Under oilseeds, groundnut was sown across 470,000 ha, up 1.5%, and sesamum acreage was 489,000 ha, up from 461,000 ha from the previous year. Sunflower acreage was 34,000 ha, up 6.3% from last year.

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