According to Geojit, It has been a bitter year for the Indian economy, but sugar exports seem to have hit a sweet spot.
It has been a bitter year for the Indian economy, but sugar exports seem to have hit a sweet spot. Factors like high international prices, quarterly review of export quota by the government, and the opening up of new markets have helped the country push through sugar exports. India received 7.4 mm rainfall yesterday, 11% above normal, the India Meteorological Department said. Since Jun 1, India has received 815.2 mm rainfall, 8% above the normal weighted average. Rainfall is likely to pick up during the second half of September after poor rains across central and northwest India in the first half, India Meteorological Department Director General Mrutyunjay Mohapatra said. The southwest monsoon may start withdrawing from parts of Rajasthan during the second half of September, India Meteorological Department Director General Mrutyunjay Mohapatra said. The normal date of the monsoon withdrawal is Sep 17. As of Thursday, farmers planted sugarcane across 5.24 mln ha this kharif season, 1.3% higher from a year ago, farm ministry data showed. Farmers have sown moong across 3.55 mln ha in the kharif season, up 16% from a year ago, as of Wednesday, farm ministry data showed. Farmers have sown cotton across 12.9 mln ha in 2020-21 (Jul-Jun), up 3.2% on year, as of Thursday, data from the farm ministry showed. Farmers have sown soybean across 12.1 mln ha in the kharif season as of Thursday, up 7.0% from a year ago, farm ministry data showed.The National Commodity & Derivatives Exchange has extended the additional surveillance margin of 5% on turmeric and guar gum contracts till Sep 28, the bourse said in a circular.
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First Published on Sep 8, 2020 11:00 am