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DAILY AGRI COMMODITY REPORT 01 March 2016 Our Presence HNI & NRI Sales Contact Australia Toll Free Number 1-800-200-9454 All queries should be directed to Info@epicresearch.co Epic Research India 411 Milinda Manor (Suites 409- 417) 2 RNT Marg. Opp Central Mall Indore (M.P.) Hotline: +91 731 664 2300 Alternate: +91 731 664 2320 Or give us a missed call at 026 5309 0639 Mintara Road, Tarneit, Victoria. Post Code 3029 Phone.: +61 422 063855 HNI & NRI Sales Contact USA 2117 Arbor Vista Dr. Charlotte (NC) Cell: +1 704 249 2315 1 YOUR MINTVISORY YOUR MINTVISORY Call us at +91 Call us at +91- -7 731 31- -6642300 6642300
Market Views MONTH OPEN HIGH LOW CLOSE % CHG VOL MONTH OPEN HIGH LOW CLOSE % CHG VOL CORIANDER CASTORSEED APR 6400 6476 6308 6360 +0.03 5290 - - - - - - - SUPPORT SUPP.1 SUPP. 2 SUPPORT SUPP. 1 SUPP. 2 6287 6213 - - Coriander short term trend is bearish and May continue in coming days. PIVOT PIVOT INTRADAY LEVELS INTRADAY LEVELS - 6381 - RES. 1 RES. 1 RES. 2 RES. 2 RESISTAN CE RESISTAN CE 6549 - 6455 - TURMERIC GUARGUM APR 8700 8710 8590 8688 -0.28 6595 MAR 5600 5610 5380 5400 -3.40 14913 SUPPORT SUPP. 1 SUPP. 2 SUPPORT SUPP. 1 SUPP. 2 8615 8543 5317 5233 Turmeric short term trend is bearish and May continue in coming days. Guargum short term trend is bullish and May continue in coming days. PIVOT PIVOT INTRADAY LEVELS INTRADAY LEVELS 8663 5463 RES. 1 RES. 1 RES. 2 RES. 2 RESISTAN CE RESISTAN CE 8783 8735 5547 5693 2
Most Active Contract NCDEX INDICES TOP LOSERS Pre. Close % Index Value Change CURRENT PRICE CHANGE % SYMBOL EXPIRY DATE CHANGE CASTORSEED - - - JEERA 18-03-2016 13925.00 -275.00 -1.94% RAPESEED-MUSTARD SEED CHANA -2.02 4172 4258 20-04-2016 3878.00 -56.00 -1.42% SOYABEAN 18-03-2016 3653.00 -30.00 -0.81% CORIANDER +0.03 6360 6358 TURMERIC 20-04-2016 8688.00 -36.00 -0.41% GUARGUM -3.40 5400 5590 BARLEY 20-04-2016 1397.50 -5.50 -0.39% JEERA -1.62 13925 14155 CHANA 20-04-2016 4172.00 -14.00 -0.33% MUSTARD SEED -1.60 3878 3941 TOP GAINERS CURRENT PRICE SOYABEAN -1.70 3653 3716 SYMBOL EXPIRY DATE CHANGE CHANGE % TURMERIC -0.28 8688 8712 CORIANDER 20-04-2016 6360.00 127.00 2.04% 3
Commodities In News ECONOMIC NEWS Ref Soya oil settled up due to lower level buying and steady demand by the stockists. India's export of oilmeals during January 2016 is reported ever lowest at 17,243 tons, down 91% as compared to 185,654 tons in the same month of previous year, according to data compiled by Solvent Extractors' Association (SEA). The overall export of oilmeals during April 2015 to January 2016 is more than halved to 1,005,085 tons.India exported 2,047,937 tons of oilmeal during the same period of last year and 3,646,095 tons in 2013-14. Soymeal exports touched an all time low of 7,707 tonnes in January this year, due to higher bean prices in the domestic market. The export during April-January period of the current fiscal declined by 87 per cent to 69,266 tonnes compared to 5.35 lakh tonnes in the same period of previous year. As per latest SEA data, edible oils import rose to 14.07 lt in December last year from 11.23 lt in December 2014.However, imports of non-edible oils fell to 11,467 tonnes from 17,996 tonnes in the year-ago period. The oil industry has asked government to increase the duty to 45% from the current 12.5% to give support to indigenous industry. With a special focus on agriculture, Finance Minister Arun Jaitley in his Budget 2016 speech highlighted the various measures that the Modi government plans to take for the sector. "Special focus has been given on timely credit to farmers," Jaitley said."Rs 35,984 crore allocated for agriculture in 2016-17. We are targeting Rs 8.5 lakh crore of agricultural credit in 2015-2016 and Rs 9 lakh crore in 2016-17," he said."A unified agriculture platform will be dedicated to the nation on the birth anniversary of BR Ambedkar," Jaitley announced. "Soil health card scheme will be implemented with greater vigour, all 14,000 crore farms will be included under it by 2017," Jaitley added.Jaitley started his speech by stressing on Indian economy's resilience amidst the current global economic turmoil. "Global economy is in a serious crisis. Financial markets have been battered but Indian economy has held its ground firmly.""IMF has hailed India as a bright spot. Let us look at our achievements compared to the last three years of the last government. We inherited an economy with low growth and high inflation," Jaitley said."We have bridged the trust deficit created by the previous government," Jaitley added.From focus on agriculture to tax and financial sector reforms, Jaitley outlined nine pillars to transform India: Agriculture and farmer welfare with an aim to double farmers' income in the next five years; Rural sector; Social sector including healthcare; Educational skills and job creation to make India a knowledge based and productive economy; Infrastructure investment to enhance quality of life; Financial sector reforms;Governance reforms and ease of doing business; Prudent management of government finances and Tax reforms to reduce compliance burden.As the Union budget has proposed to spend Rs 86,500 crore on 89 irrigation projects in next five years, activists have cautioned the government to prioratise only such projects, on which, a large portion of the project cost has already been spent and instead prioritise the small scale irrigation projects.Parineeta Dandekar, Associate Coordinator, South Asia Network on Dams, Rivers and People said, "Recent large irrigation projects, especially in Maharashtra and Andhra Pradesh have been resounding and costly failure. Turmeric settled down on improved arrivals of medium quality turmeric. New Turmeric supply reported in the domestic market pressurizes the prices at higher levels. In Nizamabad indicative market, supply reported last week ending 53000 bags as compared to previous week 49000 bags. In Sangli market reported 37050 bags, in Erode market reported 16900 bags, in Duggirala market reported 1634 qtls etc. There are reports of production concern due to drought in Maharashtra and Andhra Pradesh.There is concern over production due to heavy rains during Nov-Dec in south India. Deficient rainfall in during early part of sowing in major Turmeric growing regions of Maharashtra and Karnataka may reduce the yield. As per dept of commerce data, turmeric exports until Nov 2015 pegged at 50,916 tonnes while the export for the 2014-15 is 90,738 tonnes compared to 78,360 tonnes in FY14. As on latest sowing data, turmeric sowing In AP, Telangana is lower than the normal sowing area. The traders are keen in buying the quality turmeric. 4
Fundamental Watch : Chana National Market Update CHANA PRICES AT KEY SPOT MARKET Tur prices have shown some firmness due to lower arrivals in the mandis and increase in CnF prices of Burmese tur. Arrivals are lower in the mandis as farmers are holding their crop in expectation of higher price in the future. At present arrivals in Amravati mandi is in the range of 3000-4000 bags per day with price range of Rs 8000-8500 per bag. CENTER 29-Feb-15 28-Jan-15 Change AHMEDNAGAR 4300 4300 UNCH Department of Agriculture has revised down Tur production estimate to 2.55 MMT from targeted estimate of 3.67 MMT. Despite higher coverage area, tur production has been lowered down due to lower yield expectation.Tur production estimate is around 2.49 MMT. ALWAR NA 4100 - According to the Second Advance Estimate by Government, Gram production estimate has been revised down to 8.09 MMT from targeted estimate of 9.50 MMT. Gram production estimate has been lowered due to lower area coverage against higher coverage expectation .AW estimate is around 7.89 MMT, even lower by 0.20 thousand tonne from government current estimate. GWALIOR 4350 4350 UNCH JAIPUR 4550 4500 +50 According to the latest inflation update released by Government of India, Pulses Monthly Wholesale Price Index for the month of January is 370.1 which are around 2.1 % lower than the month of December. In month of December Wholesale Price Index was 378.2. KANPUR 4925 4850 +75 NAGPUR 4100 4100 UNCH VIJAYWADA 4770 4800 -30 5
Technical Outlook BUY GUARGUM MAR ABOVE 5440 TARGET 5490 5560 SL BELOW 5380 SELL CORIANDER APR BELOW 6360 TARGET 6315 6165 SL ABOVE 6425 SELL TURMERIC APRIL BELOW 8660 TARGET 8616 8556 SL ABOVE 8720 6
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