Agri Picks Report: Geojit

Geojit's report on Agri Picks

The UK-based Cotton Outlook has marginally scaled down its estimate for global output of the fibre in 2020-21 (Aug-Jul) to 24.4 mln tn from 24.5 mln tn projected last month, the agency said in its October report. The hike in ethanol prices by 4.4-6.2% on year for 2020-21 (Dec-Nov) is likely to result in a higher operating profit margin from distillery segment of sugar companies by around 250-300 basis points, ratings agency ICRA Ltd said in a report. The government has set the cap for sugar that mills can sell in November at 2.25 mln tn, lower than 2.30 mln tn for October, the food ministry said in a notification. Traders resumed auction of onion in key wholesale markets in Nashik--Lasalgaon and Pimpalgaon--following a meeting with Maharashtra Chief Minister Uddhav Thackeray on Thursday, traders said. They have been boycotting the auctions since Monday to protest against the government's move to impose stockholding limits. The government has sold 952,990 tn of rice under the open market sale scheme since April, as per data released by Food Corp of India. Of the 952,990 tn sold, states have bought 912,560 tn and private buyers 40,430 tn. The International Grains Council has scaled down its estimate for global maize production in 2020-21 to 1,156 mln tn from 1,160 mln tn forecast in September.

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