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DAILY AGRI COMMODITY REPORT 24 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
Market Views MONTH OPEN HIGH LOW CLOSE % CHG VOL MONTH OPEN HIGH LOW CLOSE % CHG VOL CORIANDER CASTORSEED APR 6495 6510 6259 6294 -2.18 7530 - - - - - - - SUPPORT SUPP.1 SUPP. 2 SUPPORT SUPP. 1 SUPP. 2 6199 6103 - - Coriander short term trend is bearish and May continue in coming days. PIVOT PIVOT INTRADAY LEVELS INTRADAY LEVELS - 6354 - RES. 1 RES. 1 RES. 2 RES. 2 RESISTAN CE RESISTAN CE 6605 - 6450 - TURMERIC GUARGUM APR 8888 8974 8708 8756 -1.17 11905 MAR 5790 5790 5610 5660 -2.08 12934 SUPPORT SUPP. 1 SUPP. 2 SUPPORT SUPP. 1 SUPP. 2 8651 8547 5583 5507 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 8813 5687 RES. 1 RES. 1 RES. 2 RES. 2 RESISTAN CE RESISTAN CE 9079 8917 5763 5867 2
Most Active Contract NCDEX INDICES TOP LOSERS Pre. Close % Index Value Change CURRENT PRICE CHANGE % SYMBOL EXPIRY DATE CHANGE CASTORSEED - - - CORIANDER 20-04-2016 6294.00 -144.00 -2.24% CHANA 20-04-2016 4143.00 -85.00 -2.01% CHANA -1.96 4143 4226 TURMERIC 20-04-2016 8756.00 -144.00 -1.62% CORIANDER -2.18 6264 6434 SOYABEAN 18-03-2016 3716.00 -30.00 -0.80% RAPESEED-MUSTARD SEED 20-04-2016 3911.00 -27.00 -0.69% GUARGUM -2.08 5660 5780 BARLEY 20-04-2016 1410.00 -9.00 -0.63% JEERA +0.96 14220 14085 COTTON SEED OIL CAKE AKOLA 18-03-2016 2117.00 -1.00 -0.05% MUSTARD SEED -0.71 3911 3939 TOP GAINERS SOYABEAN -0.62 3716 3739 CURRENT PRICE SYMBOL EXPIRY DATE CHANGE CHANGE % TURMERIC -1.17 8756 8860 JEERA 18-03-2016 14220.00 135.00 0.96% 3
Commodities In News ECONOMIC NEWS Turmeric settled up due to estimation of lower output at the producing belts. Though arrivals are comfortable at present output is expected to fall by 13% due to adverse weather and lower acreage. Stockists and traders are buying good quality turmeric on anticipation of industrial and export demand in coming months. Turmeric output is expected around 5 million bags and carry forward stocks are estimated around 2.5 million bags.During the first six months of this fiscal, India exported 46,500 ton turmeric as against 44,406 ton a year ago because of increased demand from Gulf countries. India's 2014-15 turmeric export stood at 86,000 ton up from 77,500 ton a year ago. The sale of turmeric in Erode markets has increased. Many traders have started buying the turmeric in large scale though they are getting limited demand from North India. Some traders are keen in buying only the new turmeric and some procured the hybrid turmeric. Around 400 bags of turmeric including 900 bags of new crop arrived and 70 per cent of the stocks were sold. Some 10 bags of hybrid turmeric arrived and fetched Rs. 10,066 a quintal. But other varieties were sold for Rs. 9,600-9,700. Government is setting up a national online agriculture market platform to connect 585 regulated wholesale markets to ensure fair remunerative prices for the farmers, President Pranab Mukherjee said.Addressing the joint sitting of Parliament, he said 'Kisaano ki Samriddhi', the well-being of farmers, is vital to India's prosperity."To provide the best market price to farmers, the unified National Agriculture Market is working towards setting up a common e-market platform to connect 585 regulated wholesale markets, thereby making India, One Food Zone, One Country, One Market."This will immensely benefit our farmers in getting fair and remunerative prices. Targeted policy interventions in the last year have brought down sugar cane arrears from over Rs 21,000 crore to Rs 1,800 crore," President said.Mukherjee said the government has taken several steps for welfare of farmers, like Pradhan Mantri Fasal Bima Yojna, which is the biggest ever government contribution to crop insurance with the lowest ever premium rates for farmers.He said soil health cards will be issued to 14 crore farm holdings by March 2017.To promote organic farming, the President said Parampragat Krishi Vikas Yojna is being implemented under which 8,000 clusters have been developed so far.The government, he said, has also launched Pradhan Mantri Krishi Sinchai Yojna, New Urea Policy and several steps were being take to usher in "second green revolution' for the eastern states.Mukherjee further said the food processing fund has been operationalised with a view to provide affordable credit to designated food parks."In the last 10 months, five new Mega Food Parks have been operationalised. Under the Cold Chain Scheme, 33 projects have been made operational during the last 18 months," he said.He said Shyama Prasad Mukherji Rurban Mission has also been launched for 300 rural growth clusters for developing skills and local entrepreneurship and providing infrastructureamenities. Chana settled down on expectation of higher arrivals of chana in coming months on higher production estimates by the government. Though, surging domestic demand capped some losses. Pulses output is expected marginally up at 17.33 million tons thanks to higher output of chana (Gram). This year total production of chana is expected to be 8.09 tons, higher as compared to last year 7.33 million tons.Meanwhile, Government is taking every possible step for controlling the price rise in futures and for that union government is increasing import of pulses. MMTC has issued its first tender for the import of tur under which 5,000 tons of tur have to be imported and it should be reach into the country before the end of April. As per tender, around 2500 tons of tur will be delivered at Mumbai port, while the remaining 2,500 tons are scheduled to be delivered at the Chennai port. Also, According to department of agriculture & cooperation (DAC), total production of pulses in year 2015-16 is expected to increase by 7% to 18.32million tons. 4
Fundamental Watch : Chana National Market Update CHANA PRICES AT KEY SPOT MARKET 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. Agriwatch Tur production estimate is around 2.49 MMT. CENTER 23-Feb-15 22-Jan-15 Change AHMEDNAGAR 4100 4200 -100 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. ALWAR NA 4400 - GWALIOR 4200 4325 -125 According to IBIS (provisional data), import of pulses in the week (08 Feb- 14 Feb) was around 107 Thousand tonnes at major ports in India, around 10% lower than previous week’s (01 Feb-07 Feb) import of 119 Thousand tonnes. Chana, Cow Pea, Masoor, Urad and Moong were imported lower this week whereas Green Pea, Kidney Bean, Pigeon Pea and Yellow Pea were imported higher as compared to last week. JAIPUR 4500 4500 UNCH 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 4850 4750 +100 NAGPUR 4000 3950 +50 VIJAYWADA 4800 4725 +75 5
Technical Outlook BUY GUARGUM MAR ABOVE 5680 TARGET 5730 5800 SL BELOW 5620 SELL CORIANDER APR BELOW 6262 TARGET 6217 6067 SL ABOVE 6327 SELL TURMERIC APRIL BELOW 8720 TARGET 8676 8616 SL ABOVE 8780 6
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