Agri Picks Report: Geojit

Geojit's report on Agri Picks

IMD reiterated that conditions will become favourable for the onset of southwest monsoon over Kerala coast on Jun 1, the normal onset date for the four -month long monsoon season. • The India Meteorological Department will hold a press conference at 1430 IST on Monday to give an update on forecast made for southwest monsoon rains. • In the coming kharif season, basmati rice acreage is likely to shrink nearly 10% on year as a drop in prices and grim prospects of exports are seen discouraging farmers from sowing the premium-quality crop, sources. • After months of hardship, the poultry sector seems to be slowly getting back on track, but the recovery is likely to be long-drawn and painful. • Swarms of locusts have hit the kharif crop in 25 out of the 33 districts of Rajasthan seriously affecting 90,000 ha across Sri Ganganagar, Hanumangarh and Nagaur. • The Centre may set the June sugar sale quota for mills at 1.85 mln tn, higher than 1.7 mln tn for May, a senior government official said. • The government is likely to extend the deadline for mills to sell sugar under the May quota to Jun 15 as mills have unsold stocks due to the ongoing lockdown, a senior government official said. • The Central government decided to extend the lockdown in COVID-19 containment zones till Jun 30, but lift most of the curbs in rest of the country. Only essential activities will be allowed in containment zones, which will be demarcated by the district authorities taking into account the guidelines issued by the central government, the home ministry said in an order. • Export of tea by Sri Lanka fell 12.6% on year to 18.1 mln kg in April, according to data released by Tea Exporters Association of Sri Lanka.

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