Agri Picks Report: Geojit

Geojit's report on Agri Picks

India received 5.3 mm rainfall yesterday, 104% higher than the normal of 2.6 mm for the day, the India Meteorological Department said. • The India Meteorological Department raised its projection of rainfall during the Jun-Sep monsoon season to 102% of the long-period average of 88 cm. In April, it had said that the monsoon will be normal and rainfall during the season would be 100% of the long-period average. • The depression over east-central and adjoining southeast Arabian Sea is likely to make landfall between Daman and Raigad in Maharashtra on Wednesday afternoon, the India Meteorological Department said in an update. • The Union Cabinet today approved a hike in the minimum support price for 14 major kharif crops, Farm Minister Narendra Singh Tomar said. The Union Cabinet approved a hike in minimum support price for 14 major kharif crops.MSP for soybean hiked by Rs.170 to 3880 from 3710 per 100 kg. • The government has set up an inter-ministerial committee to consider sale of edible oil only in packaged form in retail markets, primarily to ensure quality, a government official said. • ITC Ltd took the highest delivery of chana at 4,380 tn on the National Commodity & Derivatives Exchange under the May contract, data from the exchange showed. • National Agricultural Cooperative Marketing Federation of India has procured 7,000 tn rabi onion from Maharashtra as of yesterday, Sushil Kumar, an official with the agency, said. • The Centre has accepted Gujarat government's plea to extend moratorium on short-term agricultural loans to be repaid by farmers for three more months till Aug 31, as per information on Gujarat information department's website. • The Multi Commodity Exchange of India will restore trade timings from Tuesday for globally-linked farm commodities to 2100 IST from 1700 IST currently.

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