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Epic Research Weekly Agri Commodity Report Of 10 December 2018


India, 10 December 2018 -- India's Mustard land area is likely to expand by 6.5% on year to 6.7 mln ha in 2018–19 (Jul-Jun), as per the average estimation of 10 key edible oil companies and two brokerage houses.

India's Mustard land area is likely to expand by 6.5% on year to 6.7 mln ha in 2018–19 (Jul-Jun), as per the average estimation of 10 key edible oil companies and two brokerage houses.
The likely rise is seen on the back of a higher minimum support price and as farmers preferred sowing Mustard over Pulses in some parts of the country. The Centre has fixed the minimum support price for Mustard at 4,200 rupees per 100 kg for 2018–19 compared with 4,000 rupees the previous year, have paved way for increase in Mustard land area.
In Rajasthan, Mustard acreage is likely to increase to over 2.3 mln ha from 1.9 mln ha last year. The expected rise in area is also because of a fall in temperatures in Rajasthan, the largest grower, which is favourable for the Oilseed.
This financial year, prices of Pulses have been largely down. Therefore, growers preferred to sow Mustard over Pulses in key growing areas including Rajasthan. Farmers across the country had sown Mustard across 5.79 mln ha as of Nov 29, up 4.3% from a year ago. Last year, Mustard acreage was at 6.7 mln ha. With growers having an expectation that state governments might bring Mustard under the Bhavanatar Bhugtan Yojana, when fresh arrivals begin in full swing, might also encourage farmers to sow more of the oilseed, Mustard Oil.
Economic News
India's October tea production fell 3.7 percent from year ago to 176.44 million kg as plucking dropped in top producer north-eastern Assam state, according to latest data from the state-run Tea Board.
Production in Assam fell 7.6 percent to 96.21 million kg in October, the board said. The country's tea exports in first ten months of 2018 edged up 1.2 percent from a year ago to 200.38 million kg, the board said.
India, the world's second-biggest tea producer, exports CTC (crush-tear-curl) grade mainly to Egypt, Pakistan and the United Kingdom, with the orthodox variety exported to Iraq, Iran and Russia.
Commodity Headlines
India's Tea production drops 3.7% in October ICEX to allow trading in Black Pepper, Cardamom India sign deal with Iran to pay Crude Oil bill in Rupee Centre to introduce new policy to double agri export by 2022 Global food prices decline in November: FAO Mustard acreage likely to rise 6.5% in FY 2018–19 Fitch cuts India's growth forecast to 7.2% for FY19

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Submitted by Epic Research, Epic Research Pvt.Ltd indore on Monday, 10 December 2018 at 1:38 PM
Category: Business
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