Geojit's report on Agri Picks
The United Nations' Food and Agriculture Organization has scaled up its view for global cereal production in 2020-21 to 2.76 bln tn from 2.74 bln tn pegged last month, due to an anticipated rise in the output of wheat, rice and coarse grains. The government has set the annual urad import quota for 2021-22 (Apr-Mar) at 400,000 tn, according to a gazette notification from the commerce ministry. G. Chandrashekhar, a farm policy commentator and an agricultural economist, expects India's chana production for the year ending June to be 1 mln tn lower than what the government has pegged in its second advance estimates. Crude oil inventories in the US jumped by 21.6 mln barrels to 484.6 mln bbl in the week ended Friday, data from the country's Energy Information Administration showed. Market participants had expected the stockpile to decline by 700,000 bbl, according to a poll by Dow Jones. The average price of 25% broken non-basmati rice exported from India rose for the third consecutive month in February to $378.8 a tn, nearly 2% higher on month, the United Nations Food and Agriculture Organization said in a report. The price was nearly 6% higher on year.
Source:-moneycontrol.com