Agri Picks Report February 20, 2024: Geojit

commodities

Geojit's report on Agri Picks

Mills in the country produced 22.37 mln tn of sugar from Oct 1, 2023, till Feb 15, 2.5% lower than the corresponding period a year ago, the Indian Sugar & Bio-energy Manufacturers Association said in a press release today. A total of 505 mills were operational across the country as of Feb 15, up from 502 a year ago, the association said. According to the industry body, mills in Maharashtra--the top manufacturer of the commodity--produced 7.9 mln tn of sugar compared with 8.6 mln tn a year ago. However, the output of mills in Uttar Pradesh, the second-largest producer, was 6.7 mln tn, up 10.7% from a year ago. Production in Karnataka fell 6.2% on year to 4.3 mln tn during the same period. • The area under rabi crops in Telangana was 6.08 mln acres (1 acre = 0.40 ha) as of Wednesday, 7.7% lower than 6.59 mln acres a year ago, according to data from the state government. The acreage so far accounts for 110.8% of the normal rabi crop area of 5.5 mln acres for the entire season, the data showed. The area under pulses fell 26% on year to 316,182 acres. Acreage of Bengal gram was down nearly 29% on year at 255,003 acres. The normal rabi acreage for pulses is 421,163 acres. Maize, Bengal gram, jowar, and groundnut are the main rabi crops grown in the state. The total area under major millets, which includes jowar, bajra, maize and ragi, rose to 813,656 acres from 728,826 acres a year ago, the data showed. Maize was sown over 603,981 acres, lower than 611,538 acres a year ago. The season's normal area for maize is 511,521 acres, and it covers the maximum area under major millets, as per data. Jowar, the second-major millet in the state, was sown over 207,603 acres, nearly 78.3% higher than 116,405 acres a year ago. Paddy sowing fell 9% on year to 4.63 mln acres. The season's normal acreage is 4.05 mln acres. The area under food grains fell 7.5% on year to 5.77 mln acres. Oilseed acreage was at 260,906 acres, down from 302,784 acres a year ago. Groundnuts accounted for 79.5% of the total oilseed acreage at 207,521 acres, down from 239,808 acres a year ago. The normal area for oilseeds in the season is 371,037 acres.Telangana received scanty rainfall at 0.2 mm in January, and so far, the cumulative rainfall in the year has been normal at 914 mm, the data showed. The water level in major reservoirs in the state as of Wednesday was 319.2 bln cu ft, down from 517.8 bln cu ft a year ago, according to government data.

For all commodities report, click here

Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.

20022024 - coom