Detailed Report on Agriculture and Commodity Market Updates.
1.Coffee Market Update:
September Robusta Coffee:Declined by 0.8% to $4579 per tonne by 1352GMT. This decrease is attributed to supply dynamics and market sentiment, influenced by ongoing issues in Southeast Asia, particularly Vietnam.
2.Kharif Crop Sowing Progress:
Paddy and Soybean:Sowing completed in half of the normal area. Both crops, crucial for India's agricultural output, showed significant progress despite regional variations.
"One Scientist One Product": Indian Council of Agricultural Research (ICAR) launched a strategic research plan aimed at focusing scientific efforts to enhance agricultural productivity and innovation over the next five years.
4.Initiative on Direct Seeded Rice (DSR):
Corteva Agroscience:Initiatives to popularize DSR in Punjab and Haryana to address groundwater depletion. This technique could potentially save around Rs.15000 per acre, aiming for broader adoption despite existing for some time.
5.Cotton Seed Oil Insights:
Production and Consumption:Gujarat, Maharashtra, and Telangana are major producers of cotton seed oil. Approximately 60% of consumers come from the middle to upper-middle class, with Gujarat leading in consumption.
Wednesday 17/07/2024:
1.Cocoa Market Update:
Price Offers:Campco offered Rs.150/- per Kg for wet cocoa beans and Rs.580/- per Kg for dry beans. Production concerns in Ghana due to Cocoa Swollen Shoot Virus Disease (CSSVD), impacting a significant portion of Ghana's cocoa cultivation.
Thursday 18/07/2024:
1.Indian Robusta Coffee Market Update:
Price Trends:Robusta coffee prices continued to rise due to supply issues in Southeast Asia, particularly Vietnam. Prices for robusta cherry reached Rs.10000 for a 50 Kg bag and hovered around Rs.10400. Robusta parchment increased significantly to Rs.18300 per bag, marking a 66% rise since January.
2.Oil Meal Shipment Insights:
Q1 Performance:Shipment of oil meals in Q1 of 2024-25 totaled 11.02 lakh tonnes, reflecting a decline of 9% compared to the previous year. Notable changes include a decline in rapeseed meal and castor seed shipments, while soybean oil exports saw an increase.
3.Cropin Technology's Innovation:
Sage Launch:Cropin Technology launched Sage, the first real-time agricultural intelligence solution powered by Google Gemini. Sage converts agricultural landscapes into proprietary grid-based maps, enhancing precision farming practices.
Friday 19/07/2024:
1.Water Storage Update:
2.Malaysia Oil Palm Insights:
3.Agricultural Innovations:
Soil-less Media Innovation:
1.Water Storage Update:
Reservoir Levels:Water storage levels in 150 major reservoirs showed improvement for the third consecutive week. Despite this, 13 states still have below-normal levels, with the number of completely dry reservoirs decreasing from 7 to 3 over the past month.
Production and Consumption:Malaysia exported 14.8 million tonnes of oil palm products in 2023, with India importing 3.7 million tonnes. Globally, oil palm trees occupy less than 8% of total crop land but contribute significantly to major seed oil production.
3.Agricultural Innovations:
Robotic Spraying Machine:Scientists at IARI, Pusa, developed a robotic spraying machine for greenhouse crops, aimed at reducing pesticide exposure risks for farm workers and enhancing efficiency.
Soil-less Media Innovation:
FARMAI India launched Vgro, an advanced soil-less media designed for raising seedlings. Vgro improves crop establishment in the critical initial 20 days, benefiting crops like paddy, sugarcane, vegetables, and ornamental plants.
1.Cocoa Market Update:
September Cocoa Prices:Increased by 1.2% to 6703 pounds per tonne by 1352 GMT, indicating ongoing market movements and demand trends.
2.Kharif Crop Planting Update:
Acreage Statistics:Normal kharif planting area in India stands at 1096 lakh hectares. As of July 19, planting reached 704.04 lakh hectares, showing a 3.5% increase from the previous year. Notable crops include paddy, cotton, soybean, groundnut, and sugarcane.
3.Agricultural Policy and Innovation:
Bt Cotton Approval:Punjab urges the central government to approve Bollgard-III, a next-generation Bt cotton variety, to combat the damaging impact of pink bollworm over the past few years.
4.Agritech Innovation:
Bio Agri launched an online fintech investment platform, aiming to enhance investment opportunities in hydroponics and other modern farming technologies.
5.Tea Market Update:
Price Trends:Declining tea prices at Kochi auction buoyed export demand for orthodox grades, with buyers like Iraq showing interest due to price differentials compared to Kolkata auctions.
This report provides insights into key developments in global agricultural commodity markets, technological innovations in farming practices, and updates on crop planting and production trends in India and internationally.
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