Agri Picks Report: Geojit

Geojit's report on Agri Picks

India received 5.5 mm rainfall, 83% higher than the normal of 3.0 mm for the day, the India Meteorological Department said. During Jun 1-3, the country received 16.4 mm, 96% above the normal of 8.4 mm. • The Union Cabinet today approved three ordinances--amendment to the Essential Commodities Act, and two central laws on inter-state trade of farm produce, and contract farming--Farm Minister Narendra Singh Tomar said. • The government expects a bigger crop of nutri-cereals--bajra, jowar and ragi-- as it has over 45,000 tn seeds for sowing in 2020-21 (Jul-Jun) kharif season, a near 14% surplus, a senior government official said. • The Centre is unlikely to extend the deadline for procurement of wheat beyond Jul 15 as it is hopeful that major procuring states will be able to wrap up the purchases in June itself, a senior government official said. • The Centre does not see the need to slash the import duty on tur due to the comfortable level of stocks and strong supply prospects, a government official said. • The US Department of Agriculture's Foreign Agricultural Service has retained its estimate for India's 2020-21 (Aug-Jul) cotton crop at 28.5 mln bales (1 US bale = 218 kg). • Around 843,600 tn of farm produce was sold at 142 Agricultural Produce Marketing Committees in Gujarat amid lockdown till May 30, said Ashwini Kumar, secretary to Chief Minister Vijay Rupani. • International Coffee Organization has pegged global exports at 10.82 mln bags (1 bag = 60 kg) in April, 3.1% lower on year, due to a decline in demand from Mexico, South and Central America. • The government has slashed import duty on masur to 10% from 30%, effective Aug 31, according to a notification by the Central Board of Indirect Taxes and Customs.

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