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Epic Research Daily Agri Report 23rd FEB 2016 .pdf


Original filename: Epic Research Daily Agri Report 23rd FEB 2016.pdf
Title: DAILY AGRI COMMODITY REPORT 11 December 2014  

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DAILY AGRI COMMODITY REPORT
23 February 2016

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Market Views
MONTH

OPEN

HIGH

LOW

CLOSE

% CHG

VOL

MONTH

OPEN

HIGH

CORIANDER

APR

6610

6641

6405

SUPPORT

SUPP.1

SUPP. 2

6348

6259

6438

6495
RESISTAN
CE

RES. 1

RES. 2

6584

6731

-3.03

10180

Coriander short term
trend is bearish and May
continue in coming
days.

-

-

-

-

SUPPORT

SUPP. 1

SUPP. 2

-

-

8736

8910

8682

SUPPORT

SUPP. 1

SUPP. 2

8751

8603

8900

8831
RESISTAN
CE

RES. 1

RES. 2

8980

9059

% CHG

VOL

-

-

PIVOT

LEVELS

-

RESISTAN
CE

RES. 1

RES. 2

-

-

GUARGUM

PIVOT

INTRADAY
LEVELS

-

INTRADAY

TURMERIC

APR

CLOSE

CASTORSEED

PIVOT

INTRADAY
LEVELS

LOW

+1.88

8260

Turmeric short term
trend is bullish and
May continue in
coming days.

APR

5800

5880

5740

SUPPORT

SUPP. 1

SUPP. 2

5773

5687

5860

PIVOT

INTRADAY
LEVELS

5827
RESISTAN
CE

RES. 1

RES. 2

5913

5967

+0.51

3072

Guargum short term
trend is bullish and
May continue in
coming days.

2

Most Active Contract
NCDEX INDICES
TOP LOSERS

SYMBOL

EXPIRY DATE

CURRENT
PRICE

CHANGE

CHANGE
%

CORIANDER

20-04-2016

6438.00

-452.00

-6.56%

JEERA

18-03-2016

14085.00

-495.00

-3.40%

RAPESEED-MUSTARD
SEED

20-04-2016

3938.00

-79.00

-1.97%

CHANA

20-04-2016

4228.00

-74.00

-1.72%

SOYABEAN

18-03-2016

3746.00

-51.00

-1.34%

COTTON SEED OIL CAKE
AKOLA

18-03-2016

2118.00

-4.00

-0.19%

TOP GAINERS

SYMBOL

EXPIRY DATE

CURRENT
PRICE

Index

Value

Pre.
Close

%
Change

CASTORSEED

-

-

-

CHANA

4228

4253

-0.59

CORIANDER

6438

6639

-3.03

GUARGUM

5770

5760

+0.17

JEERA

14085

14265

-1.26

MUSTARD
SEED

3938

3984

-1.15

SOYABEAN

3746

3781

-0.93

TURMERIC

8900

8736

+1.88

CHANGE CHANGE %

BARLEY

20-04-2016

1419.00

31.50

2.27%

TURMERIC

20-04-2016

8900.00

106.00

1.21%

3

Commodities In News
Ref Soya oil settled down as pressure seen due to profit booking
amid higher supplies. However, expensive imports coupled with firm
International market limited the downside to edible oil in domestic
market. 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 yearago period. Earlier, the Agriculture Ministry has proposed further hike
in import duty of edible oils by 5 per cent in a bid to protect the interest
of farmers, but the decision is still pending. The Ministry has proposed
increase in import duty on crude edible oils to 17.5 per cent and on
refined edible oils to 25 per cent from the existing level.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.The monthly soymeal exports have touched an all time
low of 7,707 tonnes in January due to higher bean prices in the
domestic market.
Jeera settled down due to decline in the export demand at the spot
market. Though, fear of crop damage due to erratic weather in
producing states, capped some losses. Acreage for jeera is estimated to
rise by 15% to 7.5 lakh hectares. In Gujarat, we estimate acreage to
increase by 13 % while in Rajasthan acreage is estimated to rise by
16%. However, the acreage is seen lower by 4% when compared to the
5 year average.Hoping that weather would remain conducive till the
harvest we forecast jeera production may increase by 13% to 4.05 lakh
tonne. Indian jeera exports are higher for the past few years due to
geopolitical tensions in Syria and Turkey. The exporters of cumin seeds
(jeera) has stressed the need for safeguarding the interest of farmers in
the country in order to maintain India’s ranking as the top exporting
nation of the cash crop.Safeguarding of interest by different means will
help farmers to stay motivated to not only keep sowing the crop, but
also increase sowing acreage.

ECONOMIC NEWS
Taking a dig at Odisha Government for 'tardy' utilisation of Central funds
in the farm sector, Union Agriculture Minister Radhamohan Singh said
agriculture output remained abysmally low in the state."Funds made
available to Odisha are not being used properly in the agriculture sector.
The pace of utilisation remains slow and the state has been unable to use
allocated money in time," Singh told reporters after reviewing the
agriculture scenario in the state at a high-level meeting.Because of slow
pace of utilisation of the allocated funds in several schemes, major portion
of the money often get carried over to next year, the minister said adding
whatever funds are made available must be utilised properly in time for the
interest of the farmers.It is a matter of concern that Odisha is lagged behind
in farm output as compared to national average and other states, he said
adding that the Centre is ready to extend help.Singh reviewed the scenario
in the farm sector in Odisha in the presence of Petroleum Minister
Dharmendra Pradhan and state Excise and Cooperation Minister Damodar
Rout and Agriculture Minister Pradeep Maharathy.On allegations of
suicide of farmers in the state which was hit by drought, Singh said he
would discuss the matter with the state Government.Stating that funds and
central assistance for Odisha in case of natural calamities have increased
substantially during the NDA government compared to the previous UPA
regime, he said money must be used properly.Singh said the Pradhan
Mantri Fasal Bima Yojana would benefit the farmers in a big way as
shortcomings of earlier schemes have now been addressed.Stating that the
farmers should avail beenfits of the crop insurance scheme, the Union
Minister said technology will be used extensively for early settlement of
claims.While 25 per cent would be paid immediately, the rest would be
given as soon as possible, he said adding premium to be paid by farmers
for kharif crop will be 2 per cent and for rabi crop just 1.5 per
cent.Similarly, Pradhan Mantri Krishi Sinchayee Yojana has been
formulated amalgamating various ongoing schemes which would go a long
way in raising irrigation coverage, he said.The Minister said the Centre is
working towards integrating all the 585 wholesale mandis across the
country under the e-agri market platform in a phased manner and 200
mandis would be integrated by the end of March this year.

4

Fundamental Watch : Castorseed
National Market Update
Agricultural Statistics Division, Directorate of Economics & Statistics, India
has revised its first Adv estimate for foodgrains and estimated 17.27 lakh
tonne castor seed production for 2015-16 crop year,to be marketed in MY
2016-17.The production target for the year had been fixed at 20.34lakh
tonne.India had produced 18.70 lakh tonne castor seed last year as per final
estimate by DES..Against this private estimates hinges in the range of 14 to 15
lakh tonne for this year.
India exported 10369.60T castor oil during week ended 14th Feb-2016 at an
average price of $1151.47 per tonne.It is higher by 3.52% from previous week.
However price realization decreased by 3.68% from last week. The minimum
and maximum prices were registered at $923 and 1959 per tonne. Castor oil
export would continue to grow as prices are lower and availability is higher.

With declining seed prices and increasing crushing of castor seed meal
export continues to rise week on week basis. India exported 41700.99 tonne
castor meal during week ended 14th Feb-2016 at an average price of $136.95
per tonne. The highest price received at $578.34 per tonne while the lowest
bid was $84.42 per tonne.
Total area under Castor crop in Gujarat for the year 2015-16 is 781,000
hectares as per the Government’s estimates. It has increased by 6 % as
compared to the previous year, which was 734,000 hectares according to
Government’s estimates.

CASTORSEED PRICES AT KEY SPOT
MARKET
CENTER

20-Feb-15

19-Jan-15

Change

SUMERPUR

2950

2950

UNCH

PATAN

CLOSED

CLOSED

-

MEHSANA

3000

3000

UNCH

BHABAR

NA

3035

-

HARJI

3050

3060

-10

RAJKOT

2945

2935

+10

KADI

3000

3035

-35

5

Technical Outlook

SELL CORIANDER APR BELOW 6400 TARGET 6355 6205 SL
ABOVE 6465

BUY GUARGUM MAR ABOVE 5880 TARGET 5930 6000 SL
BELOW 5820

BUY TURMERIC APRIL ABOVE 8910 TARGET 8954 9014 SL
BELOW 8850

6

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