Agri Picks Report: Geojit

Geojits report on Agri Picks

Supply of the fresh rabi maize crop has started in markets across Bihar, leading to a slump in prices, traders said. • India's exports of mustard meal are expected to halve in 2020 -21 (Apr -Mar) from 961,312 tn exported last year due to waning demand from traditional buyers amid the COVID -19 pandemic, trade participants said. • The government kicked off procurement of masur harvested in the 2019 -20 (Jul - Jun) rabi season under the price support scheme in Madhya Pradesh and Uttar Pradesh earlier this week, a government official said. • The Centre has bought 45.9 mln tn of rice so far in the 2019 -20 (Oct -Sep) marketing season, nearly 11% higher on year, a senior government official said. The government had procured 41.5 mln tn of rice in the year -ago period. • The Congress -ruled Chhattisgarh government has decided to pay 57 bln rupees in four instalments to around 1.9 mln paddy, maize, and sugarcane farmers through direct bank transfer under the Rajiv Gandhi Kisan Nyay Yojana scheme. • The National Commodity and Derivatives Exchange will levy a commodities transaction tax of 0.01% on its agricultural index futures, or AGRIDEX, from May 26. • National Commodity Clearing Ltd, the clearing arm of the National Commodity and Derivatives Exchange, has marked 5,950 tn of mustard seed for staggered delivery against the May contract that expired on Wednesday, according to data on its website. • So far this year the government has procured 31.3 mln tn of wheat, down more than 4% from 32.7 mln tn bought in the same period last year.

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