Agri Picks Report: Geojit

Geojit's report on Agri Picks

Some state governments, including Punjab, West Bengal, Kerala, Odisha and Jharkhand, have written to the Centre urging it to extend beyond November the provision of free ration under Pradhan Mantri Garib Kalyna Yojana, senior government officials said. The Punjab Legislative Assembly passed three bills introduced earlier in the day, to negate the central government's farm laws and to make sale or purchase of farm products below the minimum support price a punishable offence, a release from the state government said. The Joint Ministerial Monitoring Committee of the Organization of the Petroleum Exporting Countries failed to reach a decision on additional output cuts at its meeting late on Monday, even as the panel warned that economic recovery has slowed due to resurgence of COVID-19 in the US, Asia and Europe. The Centre procured 9.8 mln tn of kharif paddy as of Monday, up 22.4% on year, the government said in a release. The procurement was largely carried out in Punjab, Haryana, Uttar Pradesh, Tamil Nadu, Uttarakhand, Chandigarh, Jammu & Kashmir, and Kerala. Agriculture Insurance Co of India Ltd has entered into an agreement with India Post Payments Bank to distribute crop insurance products, according to a release by the payments bank. Conditions are favourable for withdrawal of the southwest monsoon from remaining parts of central, eastern, and western parts of India in the next two to three days, India Meteorological Department said in a release. The normal date for withdrawal of monsoon from the entire country is Oct 15. The government has sold 898,490 tn of rice under the open market sale scheme since April, a senior government official said. Of the 898,490 tn sold, states have bought 858,080 tn and private buyers 40,410 tn. Mustard futures on National Commodity and Derivative Exchange hit an all-time high today following the National Agricultural Cooperative Marketing Federation of India's suspension of mustard sales in the open markets "till further notice". The agency did not give any reason for the suspension.

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