Geojit's report on Agri Picks

 

The area under kharif crops across the country in the 2023-24 (Jul-Jun) season was at 108.9 mln ha as of Friday, compared with 108.8 mln ha a year ago, according to data from the Department of Agriculture and Farmers Welfare. The acreage of paddy, the key grain in the kharif season, was up 3% on year at 40.3 mln ha. Paddy sowing has picked up pace in the last few weeks, aided by rainfall across the country, especially in the east and northeastern parts. Central and south peninsula have also received adequate rainfall since the beginning of September after a poor monsoon in August. The weather department has projected that rainfall in September will be normal at 91-109% of the long-period average, with normal to abovenormal precipitation over east and northeast India and some areas of east-central and south peninsular regions. The area under coarse cereals was at 18.2 mln ha, slightly higher than 18.1 mln ha a year ago, ministry data showed. The area under oilseeds was down 1% at 19.1 mln ha, while pulses acreage fell 9% to 12.0 mln ha. Sowing of pulses has taken a hit this season because erratic rainfall in key growing regions made farmers shift to other remunerative crops such as soybean and small millets in hope of better returns. Soybean acreage in the country was 1% higher on year as of today, according to the data. Sowing of cotton fell 1% to 12.5 mln ha as of Friday, the data showed. Meanwhile, acreage under sugarcane was 8% higher at nearly 6 mln ha as of Friday, the data showed. There have been concerns that sugarcane production may suffer in India next season, and there will be shortage of sugar supply from the current season. However, the government has reiterated that the country has sufficient stocks of sugar, which will be enough to meet domestic demand. As for sunflower, sowing this kharif season was lagging by a whopping 65% as of Friday. Major sunflower growing states such as Maharashtra and Karantaka have received deficient precipitation so far this monsoon season, according to data from the India Meteorological Department. This has taken a major toll on sowing of the crop. India received 6.8 mm rainfall on Monday, 15% above the normal of 5.9 mm for the period as northwest and south India experienced downpours today, the India Meteorological Department said. The northwestern parts of the country received a whopping 173% above normal rainfall at 10.7 mm today, while precipitation in the south peninsula was 52% higher at 7.9 mm. Rainfall was normal in three subdivisions, while it was excess and large excess in two and eight subdivisions, respectively. One subdivision received no rains on Monday, the data showed. Since Jun 1, the country has received 697.8 mm rainfall, 10% below the normal of 772.5 mm for the period.