Epic Research Daily Agri Report 15th Feb 2016

1. DAILY AGRI COMMODITY REPORT 15 February 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

2. Market Views MONTH OPEN HIGH LOW CLOSE % CHG VOL MONTH OPEN HIGH LOW CLOSE % CHG VOL CORIANDER CASTORSEED APR 6670 6826 6660 6800 +1.67 3930 - - - - - - - SUPPORT SUPP.1 SUPP. 2 SUPPORT SUPP. 1 SUPP. 2 6698 6596 - - Coriander short term trend is bullish and May continue in coming days. PIVOT PIVOT INTRADAY LEVELS INTRADAY LEVELS - 6762 - RES. 1 RES. 1 RES. 2 RES. 2 RESISTAN CE RESISTAN CE 6928 - 6864 - TURMERIC GUARGUM APR 8888 8894 8600 8700 -2.20 12230 MAR 5700 5820 5650 5670 +0.18 14372 SUPPORT SUPP. 1 SUPP. 2 SUPPORT SUPP. 1 SUPP. 2 8569 8437 5587 5503 Turmeric short term trend is bullish and May continue in coming days. Guargum short term trend is bearish and May continue in coming days. PIVOT PIVOT INTRADAY LEVELS INTRADAY LEVELS 8713 5703 RES. 1 RES. 1 RES. 2 RES. 2 RESISTAN CE RESISTAN CE 9025 8863 5786 5903 2

3. Most Active Contract NCDEX INDICES TOP LOSERS Pre. Close % CURRENT PRICE CHANGE % Index Value SYMBOL EXPIRY DATE CHANGE Change JEERA 18-03-2016 14450.00 -255.00 -1.73% CASTORSEED - - - TURMERIC 20-04-2016 8698.00 -150.00 -1.70% CHANA -0.72 4298 4329 SOYABEAN 19-02-2016 3735.00 -51.00 -1.35% CORIANDER +1.67 6800 6688 CHANA 20-04-2016 4301.00 -43.00 -0.99% BARLEY 20-04-2016 1395.00 -12.50 -0.89% GUARGUM -0.53 5600 5630 TOP GAINERS JEERA -1.36 14490 14690 CURRENT PRICE SYMBOL EXPIRY DATE CHANGE CHANGE % MUSTARD SEED +1.68 3988 3922 RAPESEED-MUSTARD SEED 20-04-2016 3984.00 64.00 1.63% SOYABEAN -0.45 3744 3761 CORIANDER 20-04-2016 6765.00 85.00 1.27% COTTON SEED OIL CAKE AKOLA TURMERIC -2.20 8700 8896 19-02-2016 2050.00 13.00 0.64% 3

4. Commodities In News ECONOMIC NEWS Ref Soya oil settled up tracking firmness in spot demand despite over supply following higher imports data. Soy meal 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.The monthly soy meal exports have touched an all time low of 7,707 tonnes in January due to higher bean prices in the domestic market. During current Oil year (October-September), total exports during October 2015 to January 2016 stood at 26,520 tonnes as against 4.38 lakh tonnes last year, a fall of 94 per cent.Soymeal is mainly used as feed for poultry, cattle and also as aqua feed. The annual production in India is about 6 million tonnes. India's export of oil meals 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 oil meals during April 2015 to January 2016 is more than halved to 1,005,085 tons. To ensure that prices of pulses do not flare up any further, central security agencies including Intelligence Bureau and Directorate of Revenue Intelligence have been asked to keep a close watch on tur, urad and gram traders to check speculation and hoarding.Pulses prices have been under pressure since last year due to production fall in the wake of unfavourable weather. For instance, retail tur prices had shot up to Rs 200/kg in most places, which after series of government steps have now cooled down to Rs 160/kg though still costlier for common man.Despite several steps, pulses prices are expected to remain firm this year as well due to production concerns because of drought for the second straight year.In this backdrop, sources said, a meeting of central security agencies -- IB, DRI, Income Tax Department, Directorate General of Foreign Trade (DGFT) and Delhi Police -- was recently called by the Consumer Affairs Ministry to discuss further actions to curb "satta operators" in pulses trading and keep prices under control."In the meeting, the enforcement agencies were asked to concentrate on tur and urad traders in the coming days. They have been informed to take stringent action against "satta operators" in these commodities," the sources said.Since the harvesting of winter-sown gram dal will begin shortly, the agencies have been asked to keep a close watch on trading of this particular dal, the sources said.Since the harvesting of winter-sown gram dal will begin shortly, the agencies have been asked to keep a close watch on trading of this particular dal, the sources said.In order to check hoarding of imported dals, the customs department has been asked to collect port-wise details of imported stocks and see if imported pulses are being kept at ports beyond a reasonable period, they added.In the meeting, it was also informed that the recent income tax raids conducted in several cities on masoor dal traders helped cool down prices to a large extent.Retail masoor dal prices have now declined below Rs 80 per kg from Rs 120 per kg level in last three-four months, as per the government data.According to sources, the enforcement agencies have decided to meet on a regular basis and will also take views of the state officials in the meeting through video conference for effective actions against speculators. Jeera settled up on reports of supply shortfall and good domestic demand, as new season crop will only come in March. Jeera sowing area in major growing districts of Rajasthan reported down current year due to higher prices alternate crop like Methi seed and low damage risk as compared to Jeera crop. Jodhpur Jeera area reported 130000 hectares as compared to last year 135000 hectares, Nagour Jeera area 37985 hectares as compared to last year 41850 hectares etc.Gujarat has planted more cumin until Jan 25, 2016 compared to last year sowing progress. In Gujarat, jeera is planted about 10.8% more area at 2,95,400 hectares compared to 2,66,700 hectares last year same time. As per Agmarknet data, arrivals of Jeera in Gujarat markets for the calendar year 2015 is lower by 231 % at about 1.28 lt compared to 4.25 lt last year.According to Dept of Commerce data, the export of jeera during first 8 month of 2015-16 (Apr-Nov) is 56,787 tonnes, which is, lower ascompared to last year. 4

5. Fundamental Watch : Cotton National Market Update COTTON PRICES AT KEY SPOT MARKET Total cotton arrival till January 27 this season remained 144.07 lakh bales (of 170 Kg each), around 30% lower as compared to 206.76 lakh bales previous season during the same period, according to Cotton Corporation of India. CENTER 12-Feb-15 11-Jan-15 Change RAJKOT 4775 4710 +65 According to the industry sources, Cotton Corporation of India (CCI) has auctioned most of its stocks it procured under MSP operation in 2015-14 and currently it is holding 25000 bales (of 170 Kg each) of cotton. BHIWANI 4500 4500 UNCH India is likely to export 1.24 million tons (around 73 lakh bales of 170 kg each) of cotton in season 2015-16, around 9% higher than the estimates of previous month which was 1.26 million tons and around 36% higher as compared to 0.91 (around 53.76 lakh bales) million tons, the volume it exported in the previous season, according to USDA. ADAMPUR 4575 4575 UNCH India exported 2.29 lakh bales of cotton last week (01 Feb-07 Feb 2016), which was 2.23 lakh bales previous to last week (25 Jan-31 Jan 2016), according to the data released by IBIS. Imports on the other hand stood 0.104 lakh bales last week, which was 0.069 lakh bales previous to last week. AHMEDABAD 4675 4675 UNCH GONDAL 4630 4630 UNCH Mahyco Monsanto, a joint venture of US agriculture company Monsanto and Indian counterpart Maharashtra Hybrid seeds Company (Mahyco) has moved to Delhi High Court once again, requesting a stay on the functioning of the a nine member committee formed to set the maximum selling price (MSP)ofcottonseed. GUNTUR NA NA - RAICHUR 4620 4611 +9 5

6. Technical Outlook SELL GUARGUM MAR BELOW 5700 TARGET 5650 5580 SL ABOVE 5760 BUY CORIANDER APR ABOVE 6825 TARGET 6870 7020 SL BELOW 6760 BUY TURMERIC APRIL ABOVE 8800 TARGET 8844 8904 SL BELOW 8740 6

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