Agri Picks Report December 04, 2023: Geojit

commodities

Geojit's report on Agri Picks

Farmers in the country have sown rabi crops across 43.5 mln ha so far, down 5% on year, according to data from the agriculture ministry. Sowing of wheat, the major rabi crop, was 5% lower on year at 18.8 mln ha so far, according to the ministry data. Wheat is only grown in the rabi season in India and is one of the most important crops in India. There has been a lot of speculation about the government's wheat estimate, as experts say it is significantly higher than the actual figure. The market remains concerned that wheat production in India may remain low for the second consecutive year in 2022-23. Typically, India's consumption of the staple is around 108 mln tn a year. The market will monitor the progress of sowing in the ongoing rabi season of 2023-24, and further lags may bump up domestic wheat prices, which are already very high. Sowing of rabi paddy was 13% lower at 928,000 ha so far, while that of pulses was 9% down from the previous year at 10.8 mln ha, ministry data showed. Among pulses, sowing of chana was at 7.5 mln ha, down 12% from the corresponding period a year ago. Chana is the major pulse during the rabi season. Maize acreage was at 1.5 mln ha, 2% higher than the previous year. The area under oilseeds was at 8.9 mln ha, largely unchanged from the corresponding period a year ago. Mustard acreage was around 8.4 mln ha, up 1% from a year ago. • Farmers in Telangana have sown rabi crops over 485,803 acres as of Wednesday, down 7% from 521,819 acres a year ago, according to data from the state government. One acre is about 0.40 ha. So far, 8.8% of the average rabi crop area of 5.5 mln acres in the state has been covered, the data showed. The area under pulses fell 31% on year to 182,306 acres so far. Acreage of Bengal gram was down nearly 34% on year at 161,291 acres. However, the area under black gram was up nearly 18% at 18,840 acres, the data showed. Telangana has received scanty rainfall at 23.9 mm during the northeast monsoon season so far, the data showed. The state receives 14% of its annual rainfall during the northeast monsoon season. Farmers have sown paddy over 2,374 acres as of today, down from 4,926 acres a year ago. The season's normal area for the crop is 4.05 mln acres. The acreage under wheat has increased to 1,090 acres from 540 acres a year ago. The normal area under wheat during the season is 12,255 acres. The area under maize was up at 102,278 acres from 84,672 acres a year ago. The season's normal area for the crop is 511,521 acres, as per the data. Sowing for foxtail millet or korra, and cotton is yet to start, the data showed. The area under food grains was at 299,944 acres, down 17% on year. The coarse grain cultivation was at 114,174 acres, up from 94,723 acres in the previous year. Oilseed acreage was at 148,982 acres, up from 128,550 acres a year ago. The normal area for oilseeds in the season is 371,037 acres. The water level in major reservoirs in the state as of Wednesday was 437.8 bln cu ft, down from 805.36 bln cu ft a year ago, according to government data.

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04122023 - comm