Epic Research Daily Agri Report 22nd FEB 2016

1. DAILY AGRI COMMODITY REPORT 22 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 6944 6944 6639 6639 -3.99 8930 - - - - - - - SUPPORT SUPP.1 SUPP. 2 SUPPORT SUPP. 1 SUPP. 2 6537 6436 - - Coriander short term trend is bearish and May continue in coming days. PIVOT PIVOT INTRADAY LEVELS INTRADAY LEVELS - 6741 - RES. 1 RES. 1 RES. 2 RES. 2 RESISTAN CE RESISTAN CE 7046 - 6842 - TURMERIC GUARGUM APR 8800 8850 8680 8744 -0.70 8535 MAR 5770 5880 5730 5750 -0.86 13400 SUPPORT SUPP. 1 SUPP. 2 SUPPORT SUPP. 1 SUPP. 2 8666 8588 5693 5637 Turmeric short term trend is bearish and May continue in coming days. Guargum short term trend is bearish and May continue in coming days. PIVOT PIVOT INTRADAY LEVELS INTRADAY LEVELS 8758 5787 RES. 1 RES. 1 RES. 2 RES. 2 RESISTAN CE RESISTAN CE 8938 8836 5843 5937 2

3. Most Active Contract NCDEX INDICES TOP LOSERS Pre. Close % Index Value Change CURRENT PRICE CHANGE % SYMBOL EXPIRY DATE CHANGE CASTORSEED - - - CORIANDER 20-04-2016 6639.00 -251.00 -3.64% JEERA 18-03-2016 14345.00 -235.00 -1.61% CHANA -0.95 4255 4296 CHANA 20-04-2016 4255.00 -47.00 -1.09% CORIANDER -3.99 6639 6915 RAPESEED-MUSTARD SEED 20-04-2016 3988.00 -29.00 -0.72% GUARGUM -0.86 5750 5800 COTTON SEED OIL CAKE AKOLA 18-03-2016 2108.00 -14.00 -0.66% TURMERIC 20-04-2016 8744.00 -50.00 -0.57% JEERA -1.88 14345 14620 SOYABEAN 18-03-2016 3789.00 -8.00 -0.21% MUSTARD SEED -0.57 3988 4011 TOP GAINERS SOYABEAN -0.11 3789 3793 CURRENT PRICE SYMBOL EXPIRY DATE CHANGE CHANGE % TURMERIC -0.70 8744 8806 BARLEY 20-04-2016 1391.00 3.50 0.25% 3

4. Commodities In News ECONOMIC NEWS Turmeric settled down due to increased supply of new crop from the producing belts. 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.The arrival of new turmeric has improved at Erode. Around 1000 bags of new turmeric arrived and all were sold at a higher price. Few bags of hybrid turmeric also arrived for sale and fetched Rs. 10,100 a quintal. At the Erode Turmeric Merchants Association, the finger turmeric was sold at Rs. 7,859-9,659 a quintal and the root variety at Rs. 7,459-9,100. Of the 1,292 bags offered, 847 were sold. As per dept of commerce data, turmeric exports until November 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. A digital platform for enabling farmers to sell their produce at a better rate anywhere in the country will be launched on April 14, Prime Minister Narendra Modi announced as he resolved to ensure doubling of the farmers' income by 2022.Modi, who unveiled guidelines for the recently- launched Prime Minister's Crop Insurance Scheme at a rally here, said this was one of the various initiatives of his government aimed at ensuring the welfare of the farmers who have been in distress due to vagaries of weather.Besides the Crop Insurance Scheme, he spoke about Soil Health Card scheme, PM's Irrigation Scheme, Organic farming, ensuring adequate availability of urea and ethanol-blending programme to help the sugarcane farmers and also pitched for 'Start-Up' initiatives in agriculture sector.He pushed for more and more use of modern technology and equipment along with traditional wisdom of farming to boost the agriculture sector, not only to meet the domestic needs but also cater to the demands from abroad."We want to integrate technology in the agriculture sector. There should be a mix of progressive farming and age-old wisdom," the Prime Minister said.Noting that the farmers do not get adequate price for his produce despite working hard as he has no choice but to sell in the nearby mandis, he said the government has decided to address this by adopting a digital mechanism."We are setting up a National Agriculture Market, a virtual and digital platform, in the coming days on April 14, the birth anniversary of B R Ambedkar, we will launch the online platform," Modi said at the rally which was attended by union ministers Sushma Swaraj, Radha Mohan Singh, Chief Minister Shivraj Singh Chouhan besides others.He said this platform will enable the farmers, using a mobile phone, to sell their produce anywhere in the country, wherever they can get a better price.At the rally, the Prime Minister said all states as well as agriculture community should take a pledge to double the farmers' income by 2022, the 75th year of the country's Independence. "We will do whatever is required achieve this."Under the e-agri platform, the government is working towards integrating all the 585 wholesale mandis of the country by 2018 in a phased manner, for which Rs 200 crore have been earmarked as of now.In the first phase, 200 mandis will be integrated by this March-end while another 200 will be connected to the online platform in 2017.  Rmseed settled down on profit booking after prices seen supported on expectation of good demand for the new season crop. India's mustard output is seen rising for the first time in three years at 6.84 mt as per 2nd advance estimates by Dept of Agriculture. Last year, the production was 6.31 mt. As per latest government data release, area coverage of RM seed this year is little lower at 64.8 lakh hectare (lh) compared to 65.14 lh sown in last year.According to official estimates, mustard sowing has doubled in Uttar Pradesh from the last season; there is a slight increase in Punjab and Haryana whereas in sowing in Rajasthan has declined by 5-10 % due to warmer Oct/ Nov and scanty rains. According to latest Feb’16 USDA report, Global rapeseed production is projected at 67.68 mt, lower by 0.04 mt compared to last month’s forecast. Global rapeseed exports for 2015/16 are forecast 130,000tons higher this month to 13.5 mt, still below last year’s 15 mt. 4

5. Fundamental Watch : Sugar National Market Update COTTON PRICES AT KEY SPOT MARKET The combined sugar production of Andhra Pradesh and Telangana fell down by 12% as the states produced 5.50 lakh tons of sugar in 2015-16 (01st Oct, 2015 – 15th Feb, 2016) compared to 6.25 lakh tons of production in 2014-15 (01st Oct, 2014 – 15th Feb, 2015). CENTER 19-Feb-15 18-Jan-15 Change DELHI 3280 3280 UNCH Tamil Nadu had produced 4 lakh tons of sugar in 2015-16 (01st Oct, 2015 – 15th Feb, 2016) which was 0.75 lakh tons higher than the sugar produced last year during the same interval. MUMBAI CLOSED 3360 - 20 sugar mills in Gujarat had produced 8.08 lakh tons of sugar in 2015-16 (01st Oct, 2015 – 15th Feb, 2016) compared to 7.25 lakh tons of sugar produced in 2014-15 (01st Oct, 2014 – 15th Feb, 2015). VIJAYWADA 3440 3440 UNCH Bihar had produced 3.90 lakh tons of sugar in 2015-16 (01st Oct, 2015 – 15th Feb, 2016) which was 6.02% less than the sugar produced last year in 2014-15 (01st Oct, 2014 – 15th Feb, 2015). NAGPUR NR NR - 472 mills in India had produced 173.37 lakh tons of sugar in 2015-16 (01st Oct, 2015 – 15th Feb, 2016) compared to 167.24 lakh tons of production (made by 516 mills) last year in 2014-15 (01st Oct, 2014 – 15th Feb, 2015). CHENNAI 3050 3050 UNCH Sugar production fell down by 3.54% in Maharashtra which produced 62.70 lakh tons of sugar in 2015- 16 (01st Oct, 2015 – 15th Feb, 2016) compared to 65 lakh tons of production in 2014-15 (01st Oct, 2014 – 15th Feb, 2015). AMBIKAPUR 2835 2835 UNCH DHAMPUR 3200 CLOSED - 5

6. Technical Outlook SELL GUARGUM MAR BELOW 5680 TARGET 5630 5560 SL ABOVE 5740 SELL CORIANDER APR BELOW 6600 TARGET 6555 6405 SL ABOVE 6665 SELL TURMERIC APRIL BELOW 8700 TARGET 8656 8596 SL ABOVE 8760 6

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