Agri Picks Report December 13, 2023: Geojit

commodities

Geojit's report on Agri Picks

Production of crude palm oil in Malaysia fell 7.7% on month to 1.79 mln tn in November, according to preliminary data from the Malaysian Palm Oil Board. Exports of palm oil in November fell 5.7% on month to 1.4 mln tn. Biodiesel exports fell 65.1% on month to 17,971 tn, the data showed. Palm oil is also used to make biofuel. Total stocks of palm oil in the country fell 1.1% on month to 2.42 mln tn in November. Malaysia is the world's second-largest producer of crude palm oil, and India is the largest consumer of edible oils. The country is expected to produce 18.5 mln tn crude palm oil in 2023 and 18.5- 18.8 mln tn in 2024. The area under rabi crops in Rajasthan was down nearly 3.5% on year at 10.12 mln ha in the current season as of Monday, against 10.48 mln ha a year ago, according to a release by the state agriculture department. The state has set a target of 11.72 mln ha for this season and so far, 86.4% of the target area has been achieved. Mustard, the key cash crop grown in the state, was sown over 3.6 mln ha, down 5.7% from a year ago. The state has set a target of 4.1 mln ha for mustard this season, down 9.9% from 4.5 mln ha sown last year. The area under oilseeds was at 3.7 mln ha, down from 3.9 mln ha a year ago. The target for the current season has been set at 4.4 mln ha, lower than last year's area of 4.7 mln ha. The acreage of gram, also known as chana, accounted for 98% of the pulses sown in the state at 1.8 mln ha. The total area under pulses was 1.9 mln ha, down 11.9% from a year ago. As of Monday, sowing of wheat, the major foodgrain, was at 2.5 mln ha, down nearly 6.4% from 2.7 mln ha a year ago. The acreage of rabi cereals was down 4.8% on year at 2.9 mln ha. The area under barley was up 6.9% at 401,672 ha. The state is the largest grower of barley in the country.

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13122023 - comm