Epic Research Daily Agri Report 3rd March 2016 .pdf
Original filename: Epic Research Daily Agri Report 3rd March 2016.pdf
Title: DAILY AGRI COMMODITY REPORT 11 December 2014
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DAILY AGRI COMMODITY REPORT
03 March 2016
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Coriander short term
trend is bullish and May
continue in coming
Turmeric short term
trend is bullish and
May continue in
Guargum short term
trend is bearish and
May continue in
Most Active Contract
COTTON SEED OIL CAKE
CHANGE CHANGE %
Commodities In News
Chana settled down on the back of increasing supplies coupled with
higher production estimates by the government. However, expectation
of good demand from dal mills for new season crop, capped some
losses. About 1.16 lakh tonnes of pulses seized from hoarders have
been disposed off in the open market so far to boost supply and contain
rising prices. In a written reply to Rajya Sabha, the Food and Consumer
Affairs Minister informed that 1,16,334.85 tonnes of pulses have been
disposed off in the market out of 1,26,758.59 tonnes seized from
hoarders.Total 14,482 raids were conducted in 14 states and Union
Territories. In Maharashtra, 78,232.35 tonnes of pulses have been
offloaded out of 80,167.44 tonnes seized from hoarders, while in
Karnataka, 23,708.34 tonnes have been disposed out of 25,545.83
tonnes. Replying to another question, the minister informed the house
that the government is importing pulses through state-owned trading
agency MMTC. The delivery of 6,000 tonnes of tur dal and 1,000
tonnes of urad dal from Myanmar is expected. In the second advance
estimate for 2015-16, government forecasted 8.09 mt of chana this
year, which is more than production estimated last year (7.17 mt).
Jeera settled down due to subdued demand at the spot market.
Though, expectation of lower yield in some regions of Gujarat like
Kutch, Surendranagar due to hot weather and plant disease, capped
losses to some extent. Investors are expecting export enquiries on
reports of good quality jeera production this year. Lower demand in
physical market coupled with reports of muted export orders and
expectation of good production estimates in Gujarat and Rajasthan is
pressurizing prices.As per the final rabi sowing report, Gujarat has
planted more cumin compared to last year sowing progress. Jeera is
planted in about 10.8% more area at 2,95,400 hectares compared to
2,66,700 hectares last year same time. As per second advance estimate
of Gujarat State for 2015-16, production is pegged at 2.11 lt higher by
about 7% forecasted in revised fourth advance estimate of 1.97 lt. In
2013-14 production was 3.46 lt.
Farmers are expected to gain from investment in irrigation, agri-markets,
dairies and a more transparent procurement of grain by officialagencies,
but experts said it may take time for these steps to end rural distress that
has risen after the monsoon failed in the past two years.Companies in the
sector were upbeat about growth of output as well as rural demand,
although farmers were circumspect after FM Arun Jaitley announced
measures to help farmers double their incomes in the next five years.The
series of steps in the Budget, along with crop insurance schemes already
announced and the high probability of good monsoon this year, are
expected to help farmers ahead of crucial assembly elections, analysts
said.Kwality chairman RS Khanna found many reasons to cheer. "First is
the government's initiative towards doubling farmer income, second is the
much-required connectivity from farm to market, third is the 100%
electricity by 2018 and most important, the investment in animal
husbandry, livestock breeding and cattle," he said.Dhanuka Agritech
managing director MK Dhanuka said the sector will gain from 28.5 lakh
hectares to be brought under irrigation and 23 projects to be completed by
March 2017. "The launch of e-platform for marketing will enable the
farmer to get the right price for his crop," he said.However, farmers wanted
more clarity. "The government has finally realised the extent of rural
distress, but this ruralcentric budget should not be expected to end the
distress soon," said Ajay Vir Jakhar, chairman of Bharat Krishak Samaj, a
farmers' association.Air Deccan founder captain GR Gopinath, who is now
involved in farming, said older steps could have been taken. "Fertiliser
subsidy should have been transferred through direct transfer to farmers
holding 5 acres and less, and fertiliser subsidies to corporates and
cooperatives should be eliminated," he said.Some experts said farmers,
who had seen three crops damaged by bad weather, needed immediate
relief. "Over the next one month, farmers will not get any benefit when
they start harvesting crop or when they go for planting operation of
summer crops," said Sudhir Panwar, president of the Kisan Jagriti Manch.
Fundamental Watch : Sugar
National Market Update
India exported 0.74 lakh tons of sugar this week (ending on 28th Feb, 2016)
compared to 1.00 lakh tons of imports made during the same duration.
SUGAR PRICES AT KEY SPOT MARKET
Datagro predicted a global sugar supply deficit of 4.37 MT in 2015-16
against a sugar surplus of 3.64 MT in 2014-15.
F.O Litch raised its global sugar supply deficit forecast to 6.50 MT in 201516 on back of lower production yield in India and Thailand (due to adverse El
nino effect in these countries) .
Australian sugar production is projected to increase by 6.25% in 2016-17
(from 4.8 MT in 2015-16) on back of an expected increase in cane plantings
and an improvement in yields.
Datagro predicted a higher sugar production (33.8 MT) in Brazil’s main
centre south region during 2016-17 due to an expected improvement in sugar
content within the cane due to the revival of normal weather condition during
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.
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.
SELL CORIANDER APR BELOW 6385 TARGET 6340 6190 SL
SELL GUARGUM MAR BELOW 5300 TARGET 5250 5180 SL
SELL TURMERIC APRIL BELOW 8760 TARGET 8716 8656 SL
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