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kharif crop

Feb 23, 2020, 09.40 AM IST



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  • In the current assessment, coarse grains, pulses, oil seeds and sugarcane have marginally pushed themselves further in the negative region with an expected decline of 14.14 per cent, 14.09 per cent, 53.31 per cent and 11.07 per cent over the last estimate, respectively, according to a report by the National Bulk Handling Corporation (NBHC).

    According to sources, "So far, only 2 lakh tonnes of urad has been imported. The pulses situation was reviewed recently by the concerned ministeries and a consensus has emerged to give time till June for undertaking the import of rest of the quota."

    Prices of the grain, which is largely consumed by the poultry feed and starch manufacturers, have remained firm for the past two years because of poor weather and damage caused by pests. Foreign firms such as Louis Dreyfus, Cargill, Cofco, Olam and Glencore, and other companies including Suguna Feed, Roquette, Godrej Agrovet and SKM Animal Feeds were importing maize.

    The cyclical recovery in the economy will prop-up earnings next year, says Patil.

    Urad prices are 30 per cent above the minimum support price of ₹70-80 a kg.

    In crop year 2018-19, farm profits jumped 26% on-year over a low base of the preceding year (2017-18), which had seen per-hectare profits decline due to low mandi prices following a bumper crop. The outlook for this year is muted in comparison, though a rise in mandi prices for kharif and higher productivity for rabi crop would lend support to overall profitability.

    The GoM includes home minister Amit Shah and agriculture minister Narendra Singh Tomar as members and other members include the ministers of state for agriculture, finance, tribal affairs and animal husbandry.

    Imported onions have started arriving. About 1,160 tonne has reached India. Additional 10,560 tonne of shipments are expected to arrive in the next 3-4 days Both red and yellow onions have been imported from Turkey, Egypt and Afghanistan. The shipments are landing at Mumbai port, the official said.

    Only a substantial increase in domestic arrivals of the crop can help significantly ease onion prices in the local markets.

    An approximately 12,000-tonne of onion shipment is expected to arrive by end of December. Retail onion prices are ruling at an average Rs 100 per kg in major cities, but rates are as high as Rs 160 per kg in some parts of the country. Andhra Pradesh and Delhi governments have already placed their demands and have started lifting imported onions.

    The central government's spending on the rural sector has increased 21% in the first seven months of fiscal 2020, the fastest growth in 11 years. All these factors, the unusually strong water reservoir levels and pick-up in rabi crop sowing activity, are initial signs pointing toward the rural sector bottoming out, Motilal Oswal says.

    The futures contract of bajra will be available for trading for expiry in January, February, March and April.

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