Powered by: Motilal Oswal
2025-01-20 10:42:42 am | Source: Geojit Financial Services Ltd.
Agri Commodity Technical Report 20 January 2025 - Geojit Financial Services Ltd

MARKET NEWS/UPDATES

*  India’s oilmeal exports dropped by 25% year-on-year to 398731 tonnes in December, while total exports for Apr-Dec fell 10% to 3.15 million tonnes, according to the Solvent Extractors' Association of India. The decline was driven primarily by lower exports of rapeseed meal and castor seed meal. Rapeseed meal exports during Apr-Dec fell to 1.41 million tonnes from 1.82 million tonnes, with Bangladesh, south Korea, Thailand, and Vietnam as major buyers. Despite an increase in soymeal exports, the global supply glut and rising competition are expected to slow future exports.

* Rajasthan's production of chana in the ongoing rabi season 2024-25 (Oct-Mar) is expected to rise 32.1% to 2.5 million tonnes from 1.9 million tonnes in the rabi season last year, according to the first advance estimates of area, production and yield released by the state's agriculture department. The total area sown under all rabi crops in the state stood at 11.2 million hectares, down slightly by 0.8% on year from 11.3 million hectares a year ago, the data showed. The total rabi production in the state is pegged at 22.1 million tonnes, down 2.1% on year from 21.6 million tonnes produced last year. The total output of all food grains in the current rabi season is expected to be 16.4 million tonnes, up 8.2% on year from 15.2 million tonnes last year, according to the data. Under food grains, the total output of cereals is seen rising 4.7% on year to 13.8 million tonnes, while that of pulses is pegged at 2.6 million tonnes, up 31.3%, the data showed. Wheat output in the current rabi season in the state is expected to be 12.2 million tonnes, up 1.8% on year from 12 million tonnes last year, the data showed. The production of maize in the state is seen rising 4% on year to 110,853 tonnes from 106,584 tonnes last year. Under pulses, the output of masur is seen rising nearly 38% on year to 47,292 tonnes from 34,290 tonnes last year. On the other hand, the production of matar, or green peas, is seen falling 10.1% on year to 28,277 tonnes, the data showed. The total production of all oilseeds is predicted to fall 12.2% on year to 5.7 million tonnes from 6.4 million tonnes a year ago, according to the data. Under oilseeds, the output of rapeseed and mustard, a major rabi oilseed, is pegged at 5.6 million tonnes, down 11.7% on year from 6.3 million tonnes in the previous rabi season last year. The output of tarameera, or arugula seeds, is expected to fall 8.9% on year to 82,326 tonnes, the data showed.

* Union Minister of Commerce & Industry, Shri Piyush on Tuesday inaugurated the National Turmeric Board in New Delhi. Shri Goyal announced Shri Palle Ganga Reddy as its first Chairperson. The headquarters of the Board has been set up at Nizamabad. He highlighted that representatives from various ministries will also be a part of the National Turmeric Board. Representatives from exporters and producers bodies will also be added to the Board. Adding that turmeric is also known as ‘Golden Spice’, he pointed out that the newly formed Board will pay special attention to the welfare of the turmeric farmers spread across 20 states, including Maharashtra, Tamil Nadu, Andhra Pradesh, Telangana, Madhya Pradesh, Meghalaya and others. He said that there is immense potential in increasing turmeric production in Andhra Pradesh and Telangana and formation of the Turmeric Board will boost income of turmeric producers in the country. The Minister noted that the new Board will promote research and development of new turmeric products, and will look into the value addition of turmeric related products for marketing abroad. The Board will also look into creating awareness on the essential and medical properties of turmeric, ways to increase its yield and boost logistics and supply chain to foster trade into newer markets, he said. Shri Goyal also highlighted that the Board will also ensure quality and safety standards of turmeric production and exports.

* Rabi sowing in Gujarat rose 5.4% on year to 4.8 million hectares as of Monday, 5% higher than the targeted area, according to a release by the state agriculture department. The targeted area, which is an average for the last three years, for the season was 4.6 million hectares. In the corresponding period last year, the area under rabi crops was 4.6 million hectares. Rabi crops are sown after the monsoon rains are over, and harvested between February and April in the state. Wheat, barley, peas, gram or chana, and mustard are the major rabi crops grown in Gujarat. Wheat acreage as of Monday was 1.4 million hectares, up 9.2% on year from 1.2 million hectares sown last year, the data showed. Similarly, maize acreage rose to 132,946 hectares from 114,941 hectares a year ago. The area sown under jowar fell to 13,255 hectares from 21,883 hectares last year. The acreage under chana so far rose to 846,437 hectares from 630,361 hectares a year ago, according to the data. The total area sown under all pulses was 917,564 hectares, up from 675,951 hectares last year. The total area sown under all oilseeds in the state fell to 260,252 hectares from 277,709 hectares sown in the previous year. Under oilseeds, the acreage under mustard was 258,131 hectares, down from 277,288 hectares last year. Sugarcane acreage in the state was 179,431 hectares, down from 187,408 hectares a year ago, according to the report. The area sown under tobacco rose to 163,781 hectares from 133,046 hectares last year. The area sown under cumin was 476,097 hectares, down from 561,306 hectares a year ago, the report showed. Coriander acreage rose to 130,449 hectares from 127,019 hectares last year, while that of fennel fell sharply to 57,163 hectares from 133,207 hectares a year ago. The acreage under potato as of Monday rose to 156,077 hectares from 134,734 hectares last year, according to the report. The area sown under onion also rose to 93,495 hectares from 68,964 hectares last year. The acreage under vegetables was 218,291 hectares, up from 200,169 hectares sown a year ago.

 

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

Disclaimer: The content of this article is for informational purposes only and should not be considered financial or investment advice. Investments in financial markets are subject to market risks, and past performance is not indicative of future results. Readers are strongly advised to consult a licensed financial expert or advisor for tailored advice before making any investment decisions. The data and information presented in this article may not be accurate, comprehensive, or up-to-date. Readers should not rely solely on the content of this article for any current or future financial references. To Read Complete Disclaimer Click Here
Latest News
Market Quote : "A strong positive sentiment from Asi...

ISRO, IN-SPACe showcase advanced space tech at Bhara...

Quote on Nifty from Rupak De, Senior Technical Analy...

Quote on Gold Pranav Mer, Vice President, EBG - Comm...

FIIs stood as net sellers in equities as per January...

Views on Pre-Budget on MSMEs Lending & Fintech by Ri...

Pre-Budget Quote on Real Estate Sector & Housing by ...

Weekly View on Fixed Income markets by Puneet Pal, H...

Quote on Pre-budget expectations by Dr. Narayani Ram...

Quote on Pre-budget expectations by Manish Chowdhury...