You are currently viewing Agri Picks Report July 09, 2024: Geojit Financial Services
Agri Picks Report July 09, 2024: Geojit Financial Services

Agri Picks Report July 09, 2024: Geojit Financial Services

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As of Monday, Geojit reported that farmers all over the country had sown kharif crops on over 37.9 million ha, an increase of 14% from a year earlier, according to data from the farm ministry.

According to a Geojit Financial Services report on Daily Agri Picks, as of Monday, farmers across the nation had sown kharif crops on 37.9 million ha, an increase of 14% from a year earlier, according to data from the farm ministry. After a slow start, the southwest monsoon rainfall has picked up, which has helped the sowing of kharif crops get off to a good start. The above-ordinary precipitation such a long ways in the season has helped the land of key harvests like paddy, heartbeats and oilseeds from the earlier year. As of today, the area covered by paddy, one of the primary kharif crops, was up 19% from a year ago, reaching 6.0 million ha. As of right now, pulses covered 3.7 million ha, up 55% from 2.4 million ha a year ago. Inside beats, grounds under tur flooded 409% to 2.1 mln ha from 409,000 ha a year prior, the service information showed. The early onset of the monsoon in the top tur-producing states, like Karnataka, is primarily to blame for the significant increase in tur acreage. The erratic monsoon caused the delayed sowing of kharif crops in the previous kharif season. Additionally, this delayed the sowing of rabi crops and impacted the production of tur and maize. However, as the majority of kharif crops are heavily dependent on rainfall, the India Meteorological Department’s prediction of an above-average southwest monsoon bodes well for the agricultural sector this year. Kharif crops would benefit from a more gradual monsoon withdrawal, which would also increase soil moisture for the rabi season. Over 106% of the long-period average, the IMD has predicted that the southwest monsoon rainfall will likely be higher than normal. According to the information provided by the IMD, India has so far experienced a weighted average rainfall of 234.6 millimeters, which is 2% more than the normal for the time period, which is 230.4 millimeters. To encourage farmers to plant more pulses and oilseeds, the government increased the minimum support prices of key kharif crops last month. The public authority expanded the base help costs of 14 key kharif crops by 1.4-12.7% for the advertising season 2024-25 (Oct-Sep). For the upcoming season, the minimum support price of tur has been raised by nearly 8% to 7,550 rupees per 100 kg, and the minimum support price of urad has been raised by 6.5 percent to 7,400 rupees per 100 kg.

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