Daily Agri Insight 2-June 2009

Ventura Securities Ltd

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The Indian rupee was stopped at its 2009 highs by suspected central bank intervention, but sentiment remained positive due to sharp dollar losses overseas and further gains in local shares. This led to shrinking export realizations for guarseed.

India's annual monsoon rains have advanced over southern states of Karnataka and Andhra Pradesh after a week's lull, India Meteorological Department (IMD), said.

Sowing progress will decide the course of guar futures, said a large trader in Bikaner.

Rajasthan's guar acreage is likely to fall 9.74 percent in 2009/10 crop year. Guar acreage is seen at 2.5 million hectares this year down from 2.77 million hectares last year. Rajasthan accounts for 70 percent of country's guar output.
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