Agri Picks Report: Geojit

Geojit's report on Agri Picks

India yesterday received 8.0 mm rainfall, 150% higher than the normal of 3.2 mm for the day, the India Meteorological Department said. • India's edible oil imports fell around 40% on year to 707,478 tn in May, The Solvent Extractors' Association of India said in a release. • Jeera exports are likely to have slumped over 59% on year to 20,000 tn in JanMar as the coronavirus pandemic hit demand in key markets such as China, according to sources in the spices sector. • Crushing of mustard seeds by mills in India rose 6.7% on year to 800,000 tn in May, as per data from the Mustard Oil Producers Association of India. • Madhya Pradesh aims to procure 25% of total production of 616,000 tn of moong and urad harvested in 2019-20 (Jul-Jun) summer season this month to support farmers against the falling prices in physical markets, a senior government official told Cogencis. • The United Nation's Food and Agriculture Organization has lowered its estimate for global wheat output for 2020-21 to 758.3 mln tn in its June update from 762.6 mln tn pegged a month ago. • The Reserve Bank of India today extended the interest subvention scheme and prompt repayment incentive scheme for loans in the agriculture, animal husbandry, dairies and fisheries sectors till Aug 31 on account of the coronavirus crisis. • The government has bought 36.4 mln tn of wheat in the 2020-21 (Apr-Mar) rabi marketing season so far, up 8% on year, a senior government official said. During the corresponding period last year, the Centre had procured 33.6 mln tn of wheat. • Further advancement of the southwest monsoon over mainland India is seen delayed by a few days and the current may again start progressing by Jun 10, Earth Sciences Secretary M. Rajeevan said in a tweet.

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