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* The International Grains Council has scaled down its estimate for global production in 2024-25 by 3 million tonnes to 2,301 million tonnes, compared to its projections in January, according to a grain market report released Thursday. The cut is mainly because of an expected drop in sorghum and maize output amid worsening prospects for South America. The estimate for total grains output is also lower on a yearly basis due to a smaller maize crop. The IGC pegs grain output in 2024-25 8 million tonnes lower than 2,309 million tonnes last year. The council has cut its estimate for maize production to 1,216 million tonnes from 1,219 million tonnes; this is also lower than last year's figure of 1,231 million tonnes. The forecast for global consumption has been lowered modestly to 2,334 million tonnes from 2,335 million tonnes, though this would still be a record high, the council said. Cumulative ending stocks are now estimated at 576 million tonnes, a little higher than in January, but down 5% on year, driven by contraction for major exporters. The estimate for global grains trade has been cut by 1 million tonnes to 419 million tonnes due to lower sorghum and wheat import figures for China. The council sees China's wheat imports in 2024- 25 (Jul-Jun) at 7.7 million tonnes, down from 9.2 million tonnes last year. The country's total wheat supply is now seen at 287.9 million tonnes, lower than the previous estimate of 289.4 million tonnes, it said.

* The National Agricultural Cooperative Marketing Federation of India procured 2.85 million tonnes of oilseeds as of Sunday, slightly more than the 2.81 million tonnes purchased as of Feb. 18, according to data by the central procurement agency released Monday. So far, NAFED has procured 52.1% of the total 5.48 million tonnes approved by the government under the price support scheme. NAFED procured 1.37 million tonnes of groundnuts as of Sunday, slightly higher than 1.34 million bought a week ago. It has met over 67% of the total sanctioned quantity of 2.05 million tonnes. The Centre has allowed Gujarat, Karnataka, Rajasthan, Haryana, Andhra Pradesh, Chhattisgarh, and Uttar Pradesh to procure groundnuts at a minimum support price of INR 6,783 per 100 kg for 2024-25 (Oct-Sept). In Gujarat, 922,669 tonnes of groundnut were procured, nearly 71% of the sanctioned quantity of 1.31 million tonnes. In Rajasthan, 372,578.71 tonnes of the sanctioned quantity of 531,828 tonnes was purchased, according to the data. The federation purchased 79,601 tonnes of groundnuts in Uttar Pradesh, while 2,054 tonnes were procured in Karnataka. NAFED hasn't started purchases in Haryana, Andhra Pradesh, and Chhattisgarh so far.The agency procured 1.47 million tonnes of soybean, or 43.5% of the total sanctioned quantity of 3.38 million tonnes so far. There was no progress in soybean procurement on a weekly basis. The Centre has allowed six states--Karnataka, Telangana, Madhya Pradesh, Maharashtra, Rajasthan, Chhattisgarh, and Gujarat--to procure soybean from farmers at a minimum support price of INR 4,892 per 100 kg for 2024-25. In Maharashtra, 836,741.3 tonnes of soybean were procured, which was 59% of the sanctioned quantity of 1.41 million tonnes. In Madhya Pradesh, NAFED procured 388,796.24 tonnes of soybean, nearly 28% of the sanctioned quantity of 1.36 million tonnes. Soybean procurement in Gujarat was 48,054.81 tonnes, 42% of the sanctioned quantity of 114,015 tonnes, the data showed. NAFED has procured only 18,199.85 tonnes of soybean in Karnataka, just 16.3% of the sanctioned quantity of 111,470 tonnes. The federation has also purchased 98,866.54 tonnes of soybean in Rajasthan, and 81,122 tonnes in Telangana, the data showed. Procurement is yet to begin in Chhattisgarh. As was the case with soybean, there was no progess in the procurement of sunflower seeds on a weekly basis, the data showed. The procurement of sunflower seeds remained unchanged from last week at 3,272.4 tonnes, 25% of the total sanctioned quantity of 13,210 tonnes. The Centre has allowed procurement only in Karnataka, with a sanctioned quantity of 13,210 tonnes at a minimum support price of INR 7,280 per 100 kg.

* The National Commodity and Derivatives Exchange Ltd. has advanced the launch date for Kapas April 2026 futures expiry date to Mar. 3 from Apr. 1, the bourse said in a circular. All contracts of Kapas futures contract expiring in April of any given year will be launched in the March month of the preceding year, it said. Kapas futures contracts expiring in November 2026 and April 2027 will be launched in November 2025 and March 2026, the release said. Kapas futures contracts expiring in February 2025, April 2025, November 2025, and February 2026 are available for trading and would continue to be traded as per the existing contract specifications, the exchange said.

* The area under summer crops in Gujarat was at 104,703 hectares as of Monday, up 3.5% from 101,179 hectares a year ago, according to a report released by the state agriculture department. Paddy acreage rose 4% on year to 54,771 hectares. The area under bajra rose to 10,328 hectares from 9,029 hectares a year ago, the report showed. However, the acreage of maize fell to 1,117 hectares from 1,713 hectares. In Gujarat, summer crops are sown in February and March, and harvested in May and June. Bajra, paddy, sesamum, and moong are the main crops grown in the state during the summer. The area under moong in the state so far was 1,937 hectares, down from 2,288 hectares a year ago. On the other hand, the area under urad rose to 251 hectares from 206 hectares. Groundnut acreage so far was 2,488 hectares, up from 2,186 hectares a year ago, according to the report. The area under sesame rose to 3,317 hectares from 3,149 hectares a year ago. The area under sugarcane as of Monday stood at 2,951 hectares, up from 2,719 hectares a year ago, the report showed. Onion acreage remained unchanged at 201 hectares, while the area under vegetables fell to 9,976 hectares from 10,871 hectares.

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