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Agri Picks Report: Geojit

Date: 03-08-2020
Subject: Agri Picks Report: Geojit
The Solvent Extractors' Association of India has questioned the Soybean Processors' Association of India’s proposal to put a quantitative cap on imports of soyoil and sunflower oil. The country received 6.4 mm rainfall 31st July, 28% below the normal weighted average of 8.9 mm, according to the India Meteorological Department. With below average rainfall, the season's average has also been reduced to normal again. The India Meteorological Department projected rainfall during Aug-Sep to be at 104% of the long-period average of 423.8 mm. It has maintained its projection for August rainfall at 97% of the long-period average. • The government aims to allocate around 12.8% of 1 trln rupees under the agricultural infrastructure fund to Uttar Pradesh, a senior official with the farm ministry said. The food ministry has allowed mills in Bihar to sell sugar from their July quota until Aug 15 as floods have disrupted supply in the state, a government notification said. The Centre has so far bought 50.5 mln tn rice in the 2019-20 (Oct-Sep) marketing year, over 15% higher on year, a senior government official said. The government had procured 43.9 mln tn in the year-ago period. Farmers in the country have sown crops for 2020-21 (Jul-Jun) kharif season across 88.2 mln ha so far, nearly 14% higher than the corresponding period a year ago, according to the farm ministry data.

Source:- moneycontrol.com

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