Agri Picks Report: Geojit

Geojit's report on Agri Picks

Procurement of cotton is likely to be delayed by 10-15 days in Maharashtra and Telangana because of rains, a senior official of Cotton Corp of India said. The food ministry is not in favour of cutting the reserve price of rice sold at the open market sale scheme as offtake at weekly auctions improved in September. The ministry hopes that it would be able to offload a comfortable quantum of the staple foodgrain this financial year, senior officials said. The Supreme Court appointed a one-member committee comprising its former judge, Justice Madan Lokur, to monitor the stubble burning problem in Punjab and Haryana. The apex court also instructed chief secretaries of both Punjab and Haryana to ensure that Justice Lokur's committee receives the assistance it requires. Rajasthan aims to procure around 1.1 mln tn key kharif crops--soybean, groundnut, moong, and urad--harvested in 2020-21 (Jul-Jun) from Nov 1, a farm department official said National Commodity Clearing Ltd, the clearing arm of the National Commodity and Derivatives Exchange, has so far marked 2,270 tn of castor seed and 1,885 tn of guar seed for staggered delivery against the October contract that will expire on Tuesday. India's soymeal exports for the year ended September plunged over 62% to 825,000 tn, data from The Soybean Processors Association of India showed. In 2018-19, the country had exported 2.18 mln tn soymeal. The commodity exchange has invited bids to implement a new advanced commodity derivatives platform for its trading and clearing related services. Madhya Pradesh is expected to start procurement of paddy harvested in the current kharif season from Oct 27, nearly a month before schedule, an official with the state government said today. Procurement will happen initially in the northern parts of the state. The government has procured nearly 7.0 mln tn paddy in the current kharif marketing season starting October, an official release said. Paddy is the largest grown food grain during the kharif season.

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