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Published on 29/10/2020 9:32:15 AM | Source: Motilal Oswal Financial Services Ltd

Agriculture Sector Update - Rainfall and sowing update By Motilal Oswal

Posted in Broking Firm Views - Sector Report| #Agriculture #Motilal Oswal Financial Services Ltd

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Rainfall and sowing update

Kharif crop sowing thus far has beaten last year’s figures. Total acreage as of 28th Aug 2020 was 7% higher than the comparable period last year, led by a rainfall surplus of 10% at the pan-India level. Here are the key highlights:

 

Rainfall above 10% of normal

* Currently, pan-India rainfall is 10% higher at 780.3mm v/s normal rainfall (of 710.4mm) over 1st Jun’20–31st Aug’20.

* Western Uttar Pradesh (-24% v/s normal rainfall) has witnessed deficit rainfall to date; however, the remaining areas have witnessed large excess to normal rainfall.

* Normal rainfall was witnessed in Western Rajasthan (+17% v/s normal rainfall), eastern Rajasthan (+1%), eastern Madhya Pradesh (+6%), the Gujarat region (+18%), Punjab (-4%), eastern Uttar Pradesh (+0%), Odisha (+6%), Vidarbha (- 7%), Chhattisgarh (+14%), Jharkhand (-8%), Bihar (+19%), coastal Karnataka (+4%) and southern Karnataka (+10%).

* Western Madhya Pradesh (+20%), Marathawada (+22%), Madhya Maharashtra (+31%), northern Karnataka (+45%), Telangana (+44%), and coastal Andhra Pradesh (+20%) witnessed excess rainfall.

 

All-India sowing up 7% YoY

* All-India sowing was up 7% YoY to 108.2mh as of 28th Aug’20, with the sowing areas of all key crops higher v/s last year.

* YoY growth rates in acreages were as follows: cotton (+3% YoY to 12.8mh), rice (+10% YoY to 39mh), coarse cereals (+3% YoY to 17.7mh), pulses (+5% YoY to 13.5mh), oilseed (+13% YoY to 19.3mh), sugarcane (+1% YoY to 5.2mh), soybean (+7% YoY to 12.1mh), and maize (+1% YoY to 8.0mh).

 

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