IGI Logo

* Sowing of rabi crops in Telangana was at 7.6 million acres (1 acre = 0.4 hectares) as of Wednesday, up 13.2% on year from 6.7 million acres sown in the same period last year, according to a report released by the state agriculture department. The normal acreage for the season in the state is 6.4 million acres, the report said. Maize acreage in the state rose 30% on year to 863,538 acres from 664,180 acres last year, the report showed. The area sown under paddy also rose to 5.7 million acres from 5.2 million acres a year ago. Similarly, the acreage under jowar was 339,505 acres, up from 231,426 acres last year.Rabi crops are sown between October and December after the monsoon, and harvested between February and May. However, sowing started late this year because of a delay in withdrawal of the southwest monsoon, which, in turn, delayed the harvest of kharif crops.The acreage under chana was 221,208 acres, down from 255,337 acres a year ago, according to the report. On the other hand, the acreage under black gram, or urad, rose to 49,686 acres from 35,602 acres last year. The total area sown under all pulses fell to 299,289 acres from 319,627 acres a year ago. The total area sown under all oilseeds so far was 310,863 acres, up from 272,564 acres sown in the previous year, the report showed. Under oilseeds, the acreage under groundnut rose to 249,727 acres from 209,817 acres last year. Tobacco acreage in the state rose to 18,310 acres from 9,902 acres in the corresponding period last year, while that of sugarcane also rose to 16,230 acres from 4,525 acres a year ago. Paddy is in the 'grain formation to maturity' stage, while the harvest of groundnut, sunflower, urad, and chana has commenced and is in its peak stage, the report said.The water level in reservoirs across Telangana was 403.00 billion cubic metres as of Wednesday, compared with 259.59 billion cubic metres a year ago, according to the report.

* The government has reduced base import prices of edible oils by $11-$34 per tonne, the Central Board of Indirect Taxes and Customs said in a notification. The Centre levies import duty ad valorem and reviews the base import prices depending on changes in global prices and foreign exchange rates, usually on a fortnightly basis. The base import prices of edible oils were last revised on Mar. 13.

* Kharif rice procurement slowed down in March, rising to just 1% compared to an increase of 5% in February, The Hindu Businessline newspaper reported today. Purchase of the kharif crop in the 2024-25 season has reached 45.73 million tonnes as of Mar. 31, higher than 45.25 million tonnes a year ago, the report said. The current purchase stands at 38% of the estimated record 120.68 million tonnes production of rice for the kharif season. Procurement of paddy in states like Tamil Nadu, Andhra Pradesh, Kerala, Maharashtra, and Odisha ended in March. The procurement is still ongoing in states like Assam, West Bengal, Jharkhand and Tripura, As per the lastest data, the Food Corp. of India bought 4.01 million tonnes from Odisha, 1.7 million tonnes from West Bengal, 1.6 million tonnes from Tamil Nadu, 142,004 tonnes from Kerala and 659,189 tonnes from Maharashtra. Despite an overall increase, some states witnessed a decline in procurement. In Punjab, procurement was 11.63 million tonnes, 6% lower than last year.

* The National Commodity and Derivatives Exchange on Friday revised the Liquidity Enhancement Scheme in guarseed options on futures contracts, the exchange said in a circular. In another circular issued on Friday, the exchange said the existing liquidity enchancement scheme in guar seed options on futures contracts will be discontinued with effect from Apr. 7.

* The Securities and Exchange Board of India has extended the suspension of derivatives trade in wheat, chana, moong, paddy (non-basmati), mustard seeds and its derivatives, soya bean, and crude palm oil by another year, till Mar. 31, 2026, the regulator said in a release on Monday. In 2021, the government had imposed a ban on derivatives trading in the seven commodities for a year to check rising prices. The ban was extended consecutively each year till December 2024, and twice more till Mar. 31 this year.

* Multiple weather systems are likely to cause heavy rainfall over parts of Tamil Nadu, Puducherry, Karaikal, coastal and the adjoining ghat areas of interior Karnataka, north interior Karnataka, Kerala, and Mahe till Sunday, the India Meteorological Department has said. Hailstorms are also predicted over isolated pockets of central Maharashtra and Marathwada on Wednesday, Vidarbha and north interior Karnataka till Thursday, and west Madhya Pradesh, Chhattisgarh, Telangana, and south Interior Karnataka on Thursday, the weather bureau has said. According to the weather agency, due to the same weather systems, a wet spell accompanied by thunderstorms, lightning, and gusty winds, ranging from 40-50 kilometre per hour, are expected over south peninsular India until Sunday, and over central India, Maharashtra, Gangetic West Bengal, Jharkhand, and Odisha through Friday, the weather department said.

For More Geojit Financial Services Ltd Disclaimer https://www.geojit.com/disclaimer
SEBI Registration Number: INH200000345