Agri Picks Report: Geojit.

Production of jeera is likely to fall 25% in the ongoing 2020-21 (Oct-Sep) rabi season as lower returns from the crop have prompted farmers to shift to other remunerative options. However, the drop in production is unlikely to boost prices of the export-oriented spice as the market is well supplied, said market experts. The Ministry of New and Renewable Energy today issued guidelines to implement solarisation of grid-connected agriculture pumps under the Pradhan Mantri Kisan Urja Suraksha evem Utthan Mahabhiyan or the PM KUSUM scheme, it said in an official release. The International Cotton Advisory Committee has scaled down its global output estimate for 2020-21 (Aug-Jul) to 24.7 mln tn in its December report from 25.0 mln tn projected in the previous month. The price of crude palm oil price is expected to continue rising in the first quarter of 2021, reaching 4,000 ringgit (72,635 rupees) per tn on the Bursa Malaysia Derivatives, an industry expert said. The price is the highest level over the past several years. The government has so far bought nearly 33.0 mln tn of paddy from farmers in the 2020-21 (Oct-Sep) kharif marketing season, up 19.5% on year, according to an official release. Paddy is the largest grown crop in the kharif season. As of Friday, farmers in the country have sown rabi crops across 43.1 mln ha, up 3.9% from a year ago, according to farm ministry data. Rabi oilseeds acreage was up 6.2% on year at 6.7 mln ha due to higher sowing of mustard, data showed. Farmers are opting for mustard this year on hopes of better returns. The Multi Commodity Exchange Clearing Corp, the clearing arm of Multi Commodity Exchange of India, has revised the threshold limit of commodities for concentration margin, effective from Dec 15, according to a circular on the exchange website.