Agri Picks Report: Geojit

Geojit's report on Agri Picks

India yesterday received 5.8 mm rainfall, 107% higher than the normal of 2.8 mm for the day, the India Meteorological Department said. During Jun 1-2, the country received 11.1 mm, 105% above the normal of 5.4 mm. • The Cotton Corp of India has lowered its discount price by 200 rupees a candy (1 candy = 355 kg) on bulk purchases of cotton bales procured in 2018-19 (Oct-Sep) and 2019-20 marketing years, Chairman and Managing Director Pradeep Agarwal said. The revised discount ranges from 8,000-9,800 rupees per candy (1 candy = 355 kg), compared with 8,200-10,000 rupees offered in May, and the revised discounts will be applicable till Jun 30. • MCX delivered 22,400 bales (1 bale = 170 kg) of cotton under the May contract that expired on Friday, according to data on the exchange's website. Of the total, 12,975 bales were delivered in Yavatmal, 6,350 bales in Rajkot, 1,875 in Kadi, 925 bales in Jalna, and the rest in Mundra. • Madhya Pradesh has extended the procurement period for chana, masur and mustard harvested in 2019-20 (Jul-Jun) to Jun 10 from May 30 as the buying so far has been dismal, a senior official with the state government said. • Close on the heels of the launch of its agri futures index, the National Commodity & Derivatives Exchange of India is set to launch two indicative weather indices this week. • National Bulk Handling Corp expects wheat output to rise 5.6% to 107.9 mln tn in the 2019-20 (Jul-Jun) rabi season as rains in October boosted soil moisture level, Hanish Sinha, head of research and development, was quoted as saying in a report by the agency. • The Telangana government has procured 851,381 tn rabi maize as of Monday at the minimum support price from farmers, according to a release. The state is a major grower of maize. • The government procured 647,698 tn of mustard harvested in 2019-20 (Jul-Jun) across five states as of Thursday, up 236,546 tn from a fortnight ago, a government official said.

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