Commodity Weekly Insights : Agri Weekly Wrap By Geojit Financial Services
MARKET NEWS & UPDATES
* The Multi Commodity Exchange of India has deferred the launch of cotton futures contracts for the months of November 2025 and January 2026 until further notice, the exchange said.
* 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 India Meteorological Department has forecast above-normal rainfall in May, at 109% of the long-period average. The weather bureau said normal- to above-normal rainfall is likely over many parts of the country, except some parts of northwest, central, east and northeast India where below-normal rainfall is likely in May.
* The final area under summer crops in Gujarat rose 7% on year to 1.23 million hectares, according to data released by the state government on Monday. The area under summer crops was at 1.15 million hectares a year ago. This season's acreage was also higher than the normal area – the average of the last three years – of 1.14 million hectares.
* Sowing of summer crops across India progressed to 7.3 million hectares as of Friday, up 15% from 6.3 million hectares sown a year ago, according to data released by the agriculture ministry Tuesday. Rice, which is the largest summer crop both in terms of acreage and production, was sown across 3.2 million hectares as of Friday, up 14.3% from 2.8 million hectares a year ago.
* The Solvent Extractors' Association of India in its second estimate projected the country's castor production in 2024-25 at 1.56 million tonnes, down 14% from the first estimate, the association said in a release Tuesday. The major factors seen contributing to the production decline include reduced acreage, adverse weather conditions and lower yields, it said. The association had projected castor output in its first estimate at 1.82 million tonnes for 2024-25.
* The Ministry of Agriculture & Farmers' Welfare has so far been able to procure only 670,000 tonnes of pulses in the kharif marketing season 2024-25 (OctSept), 13% of the total quantity of 5.08 million tonnes approved for procurement, according to a senior government official. The biggest lag has been seen in chana procurement, as prices of the commodity continue to remain above the minimum support price of INR 5,650 per 100 kg.
For More Geojit Financial Services Ltd Disclaimer https://www.geojit.com/disclaimer
SEBI Registration Number: INH200000345
