Powered by: Motilal Oswal
09-06-2023 09:33 AM | Source: Geojit Financial Services Ltd
Agri Commodity Technical Report 06 September 2023 - Geojit Financial Services
News By Tags | #2767 #4943

Follow us Now on Telegram ! Get daily 10 - 12 important updates on Business, Finance and Investment. Join our Telegram Channel

MARKET NEWS/UPDATES

* Farmers in Gujarat have sown kharif crops over 8.45 mln ha as of today, up 1.5% from 8.32 mln ha a year ago, according to state government data. Cotton, the major kharif crop in the state, was sown across 2.7 mln ha, up 5.5% from 2.5 mln ha the previous year. The total area under oilseeds rose slightly to 2.63 mln ha from 2.61 mln ha as the acreage of soybean and castor increased. However, groundnut acreage declined to 1.63 mln ha from 1.70 mln ha a year ago. Sesamum was sown over 58,044 ha, down from 72,101 ha, the data showed. As of today, the state reported 1.38 mln ha under cereal crops, up from 1.37 mln ha last year. Paddy, bajra, and jowar registered a rise in acreage. But, maize acreage declined. The area under pulses fell 12% on year to 367,147 ha from 416,093 ha due to a drop in the acreage of tur, moong, and urad. Gujarat, one of the biggest guar seed growers in the country, saw acreage drop to 103,115 ha so far, from 103,142 ha a year ago.

* Heavy rainfall is expected in some parts of Gangetic West Bengal till Thursday and light to moderate rains might continue over Odisha till Friday, IMD said today. Very heavy rainfall is also likely in some areas Gangetic West Bengal and Odisha today. Light to moderate rainfall with thunderstorm and lightning is also expected over east Madhya Pradesh and Vidarbha till Saturday, and over Chhattisgarh till Thursday, the IMD said. Very heavy rainfall is also likely over coastal Andhra Pradesh and Telangana today, according to the weather department.

* Farmers in Gujarat have sown kharif crops over 8.45 mln ha as of today, up 1.5% from 8.32 mln ha a year ago, according to state government data. Cotton, the major kharif crop in the state, was sown across 2.7 mln ha, up 5.5% from 2.5 mln ha the previous year. The total area under oilseeds rose slightly to 2.63 mln ha from 2.61 mln ha as the acreage of soybean and castor increased. However, groundnut acreage declined to 1.63 mln ha from 1.70 mln ha a year ago. Sesamum was sown over 58,044 ha, down from 72,101 ha, the data showed. As of today, the state reported 1.38 mln ha under cereal crops, up from 1.37 mln ha last year. Paddy, bajra, and jowar registered a rise in acreage. But, maize acreage declined. The area under pulses fell 12% on year to 367,147 ha from 416,093 ha due to a drop in the acreage of tur, moong, and urad. Gujarat, one of the biggest guar seed growers in the country, saw acreage drop to 103,115 ha so far, from 103,142 ha a year ago.

* Uttar Pradesh may increase the state advised prices of sugarcane by mid-October, said an official from Uttar Pradesh Cane Development Department. On Monday, CNBC-TV18 reported that the government of Uttar Pradesh is likely to increase state advised price of sugarcane by 25 rupees for the 2023-24 (Sep-Oct) sugar season. Apart from Uttar Pradesh, Haryana, Punjab, and Uttarakhand also intervene in sugarcane pricing by announcing state advised price, which largely remains higher than the fair and remunerative price, according to the Commission for Agricultural Cost and Prices in its 'Price Policy for Sugarcane (2023-24)' report.

* The area under paddy in Telangana this kharif season was at 5.6 mln acres as of Wednesday, up 1.5% from a year ago, according to official data. The overall kharif acreage in the state was 11.6 mln acres, down 4% from 12.1 mln a year ago. One acre is around 0.40 hectare. Cotton, the major kharif crop grown in the state, was sown across 4.5 mln acres, down from 4.9 mln acres a year ago. The area under pulses, including red gram, green gram, and black gram, was 18% lower on year at 532,005 acres. The area under coarse grains was at 548,986 acres, down from 643,767 acres a year ago. Food grain acreage fell to 6.7 mln acres from 6.8 mln acres. Oilseeds were sown across 456,411 acres, higher than 427,650 acres a year ago. The area under soybean was 8% higher on year at 443,775 acres, but that under groundnut declined 29% to 9,008 acres. Sugarcane acreage was at 33,172 acres, up from 33,135 acres a year ago, the data showed.

* Telangana State Co-operative Oilseeds Growers Federation Ltd, a state government agency promoting the oilseeds industry, plans to set up at least four-five oil palm processing units in the next six to seven years with a total investment of 12.5 bln rupees, the federation's Chairman Kancharla Rama Krishna Reddy told Informist.To reduce edible oil imports and promote alternative crops, the state government has drawn up a plan to encourage oil palm cultivation over 2.5 mln acres across the state. It has selected eight districts for oil palm cultivation and processing centres. As of now, oil palm cultivation in Telangana is spread across 100,000 acres, Reddy said, adding that the state government aims to achieve 2.5 mln acres of oil palm cultivation in 7-10 years. For 2022-23, Telangana State Co-operative Oilseeds Growers Federation's revenue from edible oil trade stood at 30 bln rupees, of which 10 bln rupees was from palm oil imports and trading, he said.

 

To Read Complete Report & Disclaimer Click Here

 

For More Geojit Financial Services Ltd Disclaimer https://www.geojit.com/disclaimer 

SEBI Registration Number: INH200000345

 

Views express by all participants are for information & academic purpose only. Kindly read disclaimer before referring below views. Click Here For Disclaimer