Agri Commodity Technical Report 08 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 rose 21.4% to 503,873 hectares as of Tuesday from 414,977 hectares a year ago, a report released by the state agriculture department noted. The acreage of maize jumped nearly 69% to 97,036 hectares. Paddy acreage in the state rose to 171,136 hectares from 167,714 hectares a year ago, the report showed. The area under bajra rose to 40,441 hectares from 36,001 hectares. The area under jowar was up at 35,024 hectares from 33,439 hectares. According to the report, the acreage of moong stood at 19,951 hectares compared with 11,462 hectares a year ago. The total area under all pulses so far rose to 370,034 hectares from 309,930 hectares a year ago. The total area under all oilseeds was 133,839 hectares, up from 105,048 hectares a year ago. Under oilseeds, the acreage of groundnut rose to 98,676 hectares from 77,716 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 are grown during this period. 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 Wednesday, 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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