Agri Picks Report September 09, 2024: Geojit Financial Services

commodities

Geojit Financial Services's report on Daily Agri Picks

Above normal showers so far during the southwest monsoon have helped restore water levels in most reservoirs of the country. The data from the Central Water Commission released on Friday showed that 25 out of 155 reservoirs have reported 100% live water levels and 16 are in west India. Of the total of 50 reservoirs in west India– Gujarat, Goa, and Maharashtra – 33 have reported more than 91% of live water levels in the week to Thursday. Moving to the southern part of the country, four out of 43 reservoirs have 100% water levels and 17 have reported levels in the range of 91-99% of capacity, the data showed. In the central region, 11 out of 26 reservoirs have reported more than 91% of live water levels, the data showed. The water level in the western region was 32.073 bcm, 86% of the live storage capacity, against 71% a year ago. In the central region, the water level was 41.386 bcm, 86% of the live storage capacity, against 71% a year ago. In the southern region, the water level was 47.366 bcm, 87% of the live storage capacity compared with 48% a year ago. Extremely heavy rainfall in the aforementioned regions during the last two weeks has helped restore water in reservoirs. As of Thursday, Gujarat received 50% above normal rainfall at 930.6 mm, while the India Meteorological Department has termed rainfall in the Saurashtra and Kutch region of the state as large excess. This region received 84% above normal showers at 856.3 mm, data from the weather department showed. Similarly, parts of Telangana and Andhra Pradesh have received above normal showers during the week, which has helped restore water in the main reservoirs. During summer, seven reservoirs in the southern region had gone dry due to the erratic monsoon last year and more than normal heatwave days in the country. The above normal rains have so far helped to increase the water levels in key reservoirs in the region and only two of 43 reservoirs have 40% or below the live storage water level, the data showed. As of Thursday, the southern peninsula received 26% above normal showers at 731.0 mm, data from the weather agency showed. The water level in 155 key reservoirs of the country as of Thursday was 147.337 bcm, 81% of the total live storage capacity of 180.852 bcm, according to data from the Central Water Commission. The current water storage is up 31% from a year ago and 18% from the average for the past 10 years. The overall storage position is better than the corresponding period of last year in the country as a whole and is also better than the past 10 years storage during the corresponding period, the report said. Meanwhile, the water level in the reservoirs in the northern region was 12.598 bcm, 64% of the live storage capacity, compared with 82% a year ago. In the eastern region, the water level was 13.914 bcm, 67% of the live storage capacity against 45% a year ago. Since Jun 1, India has received 792.5 mm of rainfall, 8% above the normal of 734.8 mm for the period, according to the India Meteorological Department.

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