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Agri Picks Report: Geojit

According to Geojit, The US Department of Agriculture has scaled up its estimate for India's cotton output in 2020-21 (Aug-Jul) to 30.0 mln bales (1 US bale = 218 kg) from 29.7 mln bales projected in the previous month, in its latest report.

14 Sep 2020

Geojit's report on Agri Picks

The US Department of Agriculture has scaled up its estimate for India's cotton output in 2020-21 (Aug-Jul) to 30.0 mln bales (1 US bale = 218 kg) from 29.7 mln bales projected in the previous month, in its latest report. The USDA has scaled down its global cotton output estimate for 2020-21 (AugJul) to 117.2 mln bales from 117.5 mln bales projected in August. The Food Corp of India is considering to reduce the base price of rice sold by it to attract ethanol makers, senior officials said. Rains so far in September have been 28% below normal with only south India registering a surplus. Rainfall is likely to decrease gradually over most parts of northwest and central India during the month. Crop Care Federation of India, an association of domestic agrochemical companies, today urged the government to allow export of pesticides that it may ban under the proposed Pesticide Management Bill, 2020. The Bill was tabled in Rajya Sabha on Mar 23. India received 6.4 mm rainfall on 1th June, 5% above normal, the India Meteorological Department said. Since the start of monsoon season on Jun 1, the country has received 835.0 mm rainfall, 7% above normal. India's edible oil imports fell 13.3% on year to over 1.3 mln tn in August, The Solvent Extractors' Association of India said in a release. India's soymeal exports plunged 41% on year to 45,000 tn in August, according to data from The Soybean Processors' Association of India. The government has kicked off procurement of moong harvested in the 2020-21 (Jul-Jun) kharif season under the price support scheme in Tamil Nadu on Wednesday, a government official said. Cotton output in Punjab in the 2020-21 (Jul-Jun) kharif season is seen surging nearly 33% on year to 2.5 mln bales due to an increase in acreage and yield, according to the state farm department's first advance estimate. The area under major kharif crops were at 110.5 mln ha so far in 2020-21 (JulJun), up nearly 6% from a year ago, the farm ministry's data showed. The acreage has crossed the normal area of 106.6 mln ha for the season.

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