Tea, Guar Seeds and Foodgrains

· Lack of selling and ample buying pushed ICE Futures US cotton to a nine-month high, amid rallying commodities and a falling US dollar. One of the key reasons is late monsoon rains, in the world’s second largest cotton producer, India.  

· Scanty rainfalls were also responsible for a sharp rise in the Indian guar futures. Guar is mostly grown in north-western India, where the rainfall has been particularly poor. Guar acreage in Rajasthan, the country’s top producer, is down 74%. Rajasthan accounts for about 80% of India’s guar acreage.
 
· The silver lining is that the government has raised its 2008-09 food grain output estimates by four million tonnes to a high at 233.88 million tonnes, thanks to a record production of wheat, rice, maize and gram.
 
· India has recorded a 10% drop in tea production between January and May this year, according to Indian Tea Association. Production during the period stood at 215.8 million kg, compared with 240.2 million kg in the same period last year, a decrease of 24.4 million kg. The peak period between June and October would be crucial.
  • Like this story? Get our top stories by email.

    User 

    We are listening!

    Solve the equation and enter in the Captcha field.
      Loading...
    Close

    To continue


    Please
    Sign Up or Sign In
    with

    Email
    Close

    To continue


    Please
    Sign Up or Sign In
    with

    Email

    BUY NOW

    online financial advisory
    Pathbreakers
    Pathbreakers 1 & Pathbreakers 2 contain deep insights, unknown facts and captivating events in the life of 51 top achievers, in their own words.
    online financia advisory
    The Scam
    28 Year Of The Scam: The Perennial Bestseller, reads like a Thriller!
    Moneylife Online Magazine
    Fiercely independent and pro-consumer information on personal finance
    financial magazines online
    Stockletters in 4 Flavours
    Outstanding research that beats mutual funds year after year
    financial magazines in india
    MAS: Complete Online Financial Advisory
    (Includes Moneylife Online Magazine)