Daily Agri Insight 15-June 2009

Ventura Securities Ltd

Guarseed has been rising in the past few days on estimates of a 10 percent fall in acreage in the upcoming sowing season and forecast of a week-long lull in monsoon.

Current meteorological analysis and numerical weather prediction models suggest that southwest monsoon will not advance further during next 3-4 days, India Meteorological Department said. Traders are very sensitive to monsoon movement. However monsoon has touched the coast of Rajasthan.

Guar sowing will be affected if monsoon is delayed. As per preliminary reports about 500 hectares have been covered under the crop, said a joint director with the Rajasthan state farm department.