Agricultural sector highlights: • According to the International Cotton Advisory Committee (ICAC), world cotton stockpiles would decline to 19.22MMT in 2013-14 from 19.81MMT estimated a month earlier. However, the stocks are well above last year’s 17.4MMT of cotton stockpiles. The production is also estimated to be lower at 25.55MMT in year starting from August 1, 2013 against the 26.48MMT in the previous year. And the consumption would surge to 23.72MMT from 23.51MMT in the last year. • The USDA cut China’s cotton production and imports in 2013-14. The cotton production may decline to 32.15 million bales from34.9 million bales produce in last year. The imports are seen at 10.1milion bales against the 19.75 million bales during previous year (1 bales = 280kg). • National Collateral Management Services Ltd (NCMSL) lowers its kharif food grains output estimates for 2013- 14 to 134.53MMT from earlier estimate of 135MMT on continuous rainfall and floods reported in different parts of the country. • USDA raises the China’s soybean forecast to 67.5MMT in 2013-14 from 59MMT 2012-13. Meanwhile, The China’s National Grain & Oils Information Center forecasted 66MMT of soybean import in 2013-14. • In Mexico, total agriculture production of 52 crops in first half of the year was surged by 7.1% over the production in same period during previous year. The country is likely to produce record 184.7 million tonne, up by 3.6% from 2012. • Recent swirling floodwaters of Ganga have destroyed the maize report in Vaishali and Bhagalpur districts of Bihar. • Cotton planting seed cost rise to record, the global growers spent an average of 11 cents on planting seed to produce 1kg of lint in 2012-13 against the average of 4 cents in the 1990s and 9 cents in 2000sInternational Cotton Advisory Committee. • According to the Ministry of Agriculture, India, the sowing area for kharif crop 2013-14 as on August 30 is up by 6.8% to 1,003.82 lakh hectares in comparison with 939.61 lakh hectares in the corresponding period during the last year.
Posted on: Thu, 05 Sep 2013 06:21:45 +0000
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