Agri Picks Report September 13, 2024: Geojit Financial Services

commodities

Geojit Financial Services's report on Daily Agri Picks

India's soymeal exports rose 119% on year in August to 153,000 tn from 70,000 tn a year ago, the Soybean Processors Association of India said in a release. For Oct-Aug, soymeal exports increased to 2.1 mln tn from 1.7 mln tn a year ago, SOPA said. India exported soymeal to more than 70 countries from October to August, of which Bangladesh, Iran, Germany, and Nepal were the major buyers, according to data released by the association. In August, production of soymeal rose to 671,000 tn from 639,000 tn a year ago. The output in Oct-Aug rose to 8.9 mln tn from 8.6 mln tn a year ago, the association said. Soybean, a kharif oilseed, is sown in Jun-Jul and harvested in Oct-Nov. Soybean arrivals in spot markets were at 550,000 tn in August, down from 600,000 tn a year ago. During Oct-Aug, arrivals rose to 11.3 mln tn from 11.2 mln tn a year ago. By the end of August, plants, traders, and farmers were left with around 1.8 mln tn of soybean stock, down from2.7 mln tn a month ago, the association said. The meal stock at the end of August was 141,000 tn, against 198,000 tn a month ago. Soymeal is primarily used as poultry and livestock feed. Indian soymeal is non-genetically modified and considered rich in protein. The data is collected from various sources, including government and trade. The numbers, however, are estimates only, the association said. Farmers in Telangana have sown kharif crops across 12.3 mln acres as of Wednesday, down 3.8% from 12.8 mln acres covered in the corresponding period last year, according to a report released by the state's agricultural department. The state has covered 95% of the normal area of kharif sowing of 13 mln acres. "Sowings/transplanting of all crops is completed, except that of paddy. Around 5-10% of the remaining transplantations of the paddy crop are in progress. Most of the crops are in the latevegetative to harvesting stage," the report said. Kharif crops are sown at the beginning of the southwest monsoon in June, and harvested around end October. One acre is around 0.4 ha. As of Wednesday, the state has received 897.6 mm of rainfall since Jun 1, up 40.9% from the normal rainfall of 636.9 mm for the same period, the report showed. The acreage under paddy, the state's largest kharif crop, fell to 6.0 mln acres from 6.2 mln acres a year ago, the report said. The area sown under maize rose to 530,400 acres from 502,303 acres a year ago. The acreage under pulses was 574,135 acres, up from 527,327 acres a year ago, the report said. Under pulses, the area sown under redgram, or tur, was 483,545 acres, up from 455,636 acres last year. The area sown under greengram, or moong, rose to 68,132 acres from 49,522 acres. The acreage under blackgram, or urad, rose to 21,713 acres from 19,095 acres a year ago. The area sown under oilseeds was 422,246 acres, down from 452,248 acres a year ago, according to the data. Under oilseeds, the acreage under soybean fell to 399,896 acres from 443,449 acres last year. The acreage under groundnut rose to 18,525 acres from 6,027 acres a year ago. Cotton acreage fell to 4.3 mln acres from 4.5 mln acres in the same period last year. The area sown under sugarcane rose sharply to 24,592 acres from 102 acres a year ago, the report said.

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13092024 - co