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2025-05-07 11:33:14 am | Source: Geojit Financial Services Ltd
Agri Commodity Technical Report 07 May 2025 - Geojit Financial Services Ltd
Agri Commodity Technical Report 07 May 2025 - Geojit Financial Services Ltd

MARKET NEWS/UPDATES

* Sowing of rabi crops in Telangana reached nearly 8.0 million acres (1 acre = 0.4 hectares) as of Wednesday, up 18% from 6.8 million acres a year ago, according to a report released by the state agriculture department. The state's normal acreage for the season is 6.4 million acres, the report said. Maize acreage rose 36.3% on year to 912,846 acres. The acreage was 669,830 acres a year ago. The area sown under paddy as of Wednesday rose to nearly 6.0 million acres from 5.2 million acres last year, the report showed. Similarly, the acreage under jowar was 366,558 acres, up from 237,804 acres a year ago. Chana acreage in the state was 222,772 acres, down from 238,509 acres a year ago, according to the report. On the other hand, the area under urad rose to 56,273 acres from 35,030 acres a year ago. The total area under all pulses rose to 310,738 acres from 303,806 acres a year ago. The total area sown under all oilseeds so far was 315,719 acres, up from 272,154 acres sown a year ago, the report showed. Under oilseeds, the acreage under groundnut rose to 251,115 acres from 202,638 acres. Paddy is in the "grain maturity" to harvesting stage, while the harvest of groundnut, sunflower, urad, chana, maize, jowar and other crops is in progress, the report said. The water level in reservoirs across Telangana was 374.27 billion cubic metres as of Wednesday, compared with 232.68 billion cubic metres a year ago, according to the report. 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 delay in withdrawal of the southwest monsoon, which in turn delayed the harvest of kharif crops.

* Sowing of summer crops in Maharashtra progressed to 502,972 hectares as of Apr. 28, up nearly 23% from 408,975 hectares sown a year ago, according to a report released by the state agriculture department. Maize acreage rose 71.6% on year to 96,745 hectares. The area under paddy rose to 171,136 hectares from 167,703 hectares a year ago, the report showed. The acreage of bajra was 39,838 hectares, up from 33,627 hectares a year ago, while that of jowar rose to 34,952 hectares from 33,431 hectares. Moong acreage in the state was 19,931 hectares, up from 11,262 hectares a year ago, according to the report. Similarly, the area under urad was 1,924 hectares, up from 612 hectares. The total area under all oilseeds was 133,775 hectares, up from 102,910 hectares a year ago. Under oilseeds, the acreage of groundnut rose to 98,491 hectares from 75,696 hectares, the report showed. Summer crops are grown for a short period between the kharif and rabi seasons, with harvest taking place between April and May. Besides rice, sesame, and groundnut, other major summer crops in the state include fruits and vegetables such as banana, pumpkin, and tomato. The water level in dams across Maharashtra was 32.7% of the live storage capacity as of Tuesday, compared with 29% a year ago, according to data from the state water resources department.

* 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.

* India's oilmeal exports in March rose 3% on year to 409,148 tonnes, according to data released by the Solvent Extractors' Association of India on Friday. However, total oilmeal exports in Apr-Mar fell 11% to 4.3 million tonnes, mainly due to decline in export of rapeseed meal and castorseed meal, it added. In terms of value, oilmeal exports fell 21% on year to INR 121.7 billion in Apr-Mar.

* Water level in 161 key reservoirs across India fell to 60.685 billion cubic metres as of Thursday from 64.814 billion cubic metres on Apr. 24, data with the Central Water Commission showed. The current level is 33.26% of the total live storage capacity of 182.444 billion cubic metres.

* The Ministry of Agriculture & Farmers' Welfare has so far procured 392,000 tonnes of tur in the kharif marketing season 2024-25 (Oct-Sept) at the minimum support price. This is a little over 30% of the total tur procurement target of 1.3 million tonnes set by the government. Tur is being procured in Andhra Pradesh, Gujarat, Karnataka, Maharashtra, Telangana, Chhattisgarh, Haryana, Madhya Pradesh, and Uttar Pradesh under the price support scheme for 2024-25 through the two central nodal agencies, National Agricultural Cooperative Marketing Federation Ltd. and National Cooperative Consumers' Federation of India Ltd. The legume is being purchased at the minimum support price of INR 7,550 per 100 kg. This is in line with the government's announcement in the Budget for the financial year 2025-26 (Apr-Mar) that 100% of the production of tur, urad and masur in the country would be procured till FY29 to achieve self-sufficiency in pulses in the country.

 

 

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