Agri Picks Report: Geojit

Geojit's report on Agri Picks

The government has allowed import of 500,000 tn feed grade maize, at 15% concessional import duty under the tariff rate quota for the current financial year, according to a notice from the Directorate General of Foreign Trade. • Fitch Solutions has projected a strong rebound for agri trade in the second half of 2020, and said that despite the rebound, the total trade volumes in the entire year will be in line or below 2019 levels. • Madhya Pradesh plans to procure pulses till July 29, well into the monsoon season when procurement is typically difficult, to help farmers as the lockdown due to the coronavirus pandemic led to logistics issues, a senior official with the state government said. • The country received normal rainfall at 7.1 mm, the India Meteorological Department said. Since Jun 1, India has received 141.5 mm rainfall, 24% higher than the normal of 114.2 mm for the period. • Ample water in reservoirs following bountiful rainfall last year may lead to over 14% rise in India's sugar production in the season starting October, said Prakash Naiknavare, managing director of the National Federation of Cooperative Sugar Factories. • India's soymeal exports slumped around 58.7% on year to 50,000 tn in May, as per data from The Soybean Processors' Association of India.

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