Agri Picks Report: Geojit

Geojit's report on Agri Picks

India received above-normal monsoon rain for the second straight year, with showers during Jun-Sep at 109% of the long-period average, the India Meteorological Department said. The country received 957.6 mm rainfall in the four months of the monsoon season as against the long-period weighted average of 880.6 mm. Raw sugar output in The Philippines is seen rising 2.1% on year to 2.19 mln tn in 2020-21 (Oct-Sep) because of high-yielding cane varieties, said Hermeneglido R. Serafica, an administrator at state-owned Sugar Regulatory Administration. Export of tea by Sri Lanka fell nearly 16% on year to over 22 mln kg in August, according to data released by the Tea Exporters Association of Sri Lanka. Myanmar currently has urad stocks of around 300,000 tn, which are sufficient to meet India's import quota for the financial year ending March, said Shyam Narsaria, chief executive officer of Arvee International, Myanmar's biggest exporter of pulses. India's tea exports during Jan-Jun declined 21.5% on year to 93.93 mln kg, according to data released by the Tea Board of India. Sugar mills in India will buy around 300 mln tn of sugarcane from farmers in 2020-21 (Oct-Sep), 19.5% higher from a year ago, the food ministry said. The Centre has bought 44,809 tn paddy from Punjab and Haryana as of Tuesday as part of its price support scheme for the 2020-21 (Oct-Sep) kharif marketing season, the farm ministry said.

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