Epic Research Daily Agri Report 26th FEB 2016 .pdf
Original filename: Epic Research Daily Agri Report 26th FEB 2016.pdf
Title: DAILY AGRI COMMODITY REPORT 11 December 2014
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DAILY AGRI COMMODITY REPORT
26 February 2016
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Coriander short term
trend is bearish and May
continue in coming
Turmeric short term
trend is bearish and
May continue in
Guargum short term
trend is bearish and
May continue in
Most Active Contract
CHANGE CHANGE %
COTTON SEED OIL CAKE
Commodities In News
Turmeric settled up by on short covering after prices dropped on lack
of upcountry demand at the spot market. However, expectations of
limited arrivals of quality turmeric from the producing belts, also
supported prices. 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. Spot turmeric prices decreased for
want of upcountry demand. Also, arrivals increased to 5,000 bags of
which only 60 per cent was sold. All the 1,050 bags of new turmeric
were sold. The finger turmeric lost Rs. 600 a quintal and the root
variety Rs. 950.At the Erode Turmeric Merchants Association sales
yard, the finger turmeric was sold at Rs. 7,906-9,869 a quintal; the root
variety Rs. 7,300-9,199. Of the arrival of 1,798 bags, 980 were sold.
Mustard Seed settled up on short covering after prices dropped on
reports of higher production expected from Rajasthan. Mustard
production in the country may rise by 10 per cent to 5.5 million tonnes
(mt) this year on account of favourable weather conditions in last few
days. The cold weather conditions have picked up in the northern and
central India, which is good for standing mustard crop.Some winter
showers have also given a breather to the farmers, as a drop in
temperature benefits the standing crops. Currently, the mustard crop is
at flowering stage and the flowering in mustard is higher by 10-15 per
cent compared to last year. India's mustard output is seen rising for the
first time in three years at 6.84 mt as per second advance estimates by
Dept of Agriculture. Last year, the production was 6.31 mt. As per
second advance estimate released by Commissionate of Rajasthan,
mustard production is forecasted at 34.95 lakh tonne compared to 28.8
lt last year.
Government action to increase spending on irrigation and crop insurance
is not enough to end a cycle of indebtedness that has led to thousands of
farmer suicides, and a complete overhaul of credit and subsidies to farmers
is needed, activists said.Drought in many parts of the country has hit rice,
cotton and other crops, and lower world commodity prices have added to
the farmers' plight.More than half India's farming households are in debt,
owing banks and moneylenders hundreds of millions of rupees, despite
numerous loan write-offs by successive governments.Tens of thousands of
farmers across the country have killed themselves over the past decade,
several farmers' lobbying groups said.Finance Minister Arun Jaitley, who
presents the federal budget for fiscal 2016-17 on Feb. 29, has to balance
stimulating economic growth with aiding farmers and poorer sections of
society.Farmers' groups have been demanding better monsoon forecasts,
bigger fertiliser subsidies and a state-funded insurance scheme for all crops,
to help farmers improve yields and help prevent crop failures."The need of
the hour is a focus on the dying farmer community," said activist Kishor
Tiwari, who heads a task force set up to recommend action to tackle farmer
suicides in western Maharashtra state, which accounted for more than half
of all suicides among Indian farmers in 2014."Debt is a core issue, and it
needs a long-term plan to resolve it," he said.While inter-generational
bonded labour in the farming community is no longer as common as
before, the number of poor and landless workers who are in debt bondage
is rising, particularly in agriculture, brick kilns and stone quarries, activists
say.Indian farmers seldom own the land they cultivate, and often take loans
to buy seeds and fertilisers. Only about one tenth of India's 263 million
cultivators take out crop insurance because of the high
premiums.Unpredictable weather and low crop yields have made farming
unviable for many. Financial assistance provided by the government
usually doesn't cover the losses, and some farmers have migrated to urban
areas for low-paid jobs, even selling their blood to make ends meet.
Fundamental Watch : Sugar
National Market Update
Indian sugar exports fell down by 23% this week (ending on 21st February,
2016) as the country exported 0.74 lakh tons of sugar during the week
compared to 0.96 lakh tons of exports in the previous week.
SUGAR PRICES AT KEY SPOT MARKET
As per the latest UNICA report, Brazil’s main C.S region had churned
around 2.69 MT of sugarcane in the first half of February, 2016 to produce
0.05 MT of sugar thereon.
International Sugar Organization (ISO) upraised its global sugar deficit
forecast from 3.5 MT to 5 MT in 2015-16 (01st Oct, 2015 – 30th Sep, 2016).
Sugar production in Punjab rose by 12.7% as the state produced 3.55 lakh
tons of sugar in 2015-16 (01st Oct, 2015 – 15th Feb, 2016) compared to 3.15
lakh tons of production last year during the same interval.
The states of M.P and Chhattisgarh produced 2.80 lakh tons of sugar in
2015-16 (01st Oct, 2015 – 15th Feb, 2016) compared to 2.16 lakh tons of
production in 2014-15 (01st Oct, 2014 – 15th Feb, 2015).
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).
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.
SELL CORIANDER APR BELOW 6170 TARGET 6125 5975 SL
SELL GUARGUM MAR BELOW 5460 TARGET 5410 5340 SL
SELL TURMERIC APRIL BELOW 8710 TARGET 8666 8606 SL
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