Agri Picks Report: Geojit

Geojit's report on Agri Picks

Multi Commodity Exchange Clearing Corp, the clearing arm of the Multi Commodity Exchange of India, has issued a guideline for members and participants who desire to deposit cotton bales at accredited warehouses for delivery. It's fairly common to see a spike in retail prices of vegetables in the monsoon season due to logistics issues. That rains have been well above normal this season and bottlenecks continue to hit last-mile transportation of these perishable items due to COVID-19 related lockdowns are factors that have only exacerbated the issue this year. India's non-basmati exports were at around 3.0 mln tn during Apr-Jul, up 74% from the year-ago period, according to data from Agricultural and Processed Food Products Export Development Authority. The government has barred the import of tyres under the Duty Free Import Authorisation scheme. A depression is seen forming over the central Bay of Bengal by Saturday that may bring moderate rains in some parts of Andhra Pradesh, Odisha, Telangana, and north Karnataka till Tuesday, the India Meteorological Department said. Arrivals of the fresh crop of kharif maize for 2020-21 (Jul-Jun) has started hitting the markets of Karnataka, but prices are sharply lower from the yearago levels due to poor quality of the new crop as well as weak demand. Ethanol blending with petrol in India is likely to touch 5.2% this year, up from 4.5% in 2019, the US Department of Agriculture's Foreign Agricultural Service said in a report. Deficit in Africa's sugar trade is expected to touch 14 mln tn per annum by 2030 as expansion of sugarcane acreage is likely to reduce imports, said Mulhim Eltayeb, interim executive director of African Sugar Development Task Force. The Indian Sugar Mills Association, in a letter to the Prime Minister's Office, has urged the government to "urgently" announce the sugar export policy for 2020- 21 (Oct-Sep) as mills are unable to sign new contracts, an industry source said. Multi Commodity Exchange Clearing Corp, the clearing arm of the Multi Commodity Exchange of India, has revised the threshold for concentration margin effective from Oct 15, according to a circular.

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