Epic Research Daily Agri Report 30th March 2016 .pdf
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Title: DAILY AGRI COMMODITY REPORT 11 December 2014
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DAILY AGRI COMMODITY REPORT
30 March 2016
Epic Research India
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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 bullish and
May continue in
Most Active Contract
CHANGE CHANGE %
GUAR SEED 10 MT
MAIZE - FEED
COTTON SEED OIL CAKE
Commodities In News
Soyabean on NCDEX settled up on expectation of higher demand for
crushing as meal demand increases in domestic market. Furthermore,
lower supply due to reluctance from farmers and stockiest to sell at
lower prices, and improvement in global oilseed prices too helped
soybean prices uptrend. Prices also seen supported due to higher
demand from China, the world's biggest bean consumer, following
robust imports data.As per Customs General Administration, China's
soybean imports for February month jumped 5.8% to 4.51 million tons
on year. Brazil, the world's third biggest bean producer, after Agrural
reported that Brazilian soybean harvesting is 61% completed higher
than 59% completed a year ago during the same period. According to
Argentinean Agri. Ministry Soybean crop there is estimated to be
around 60.9 million tons compared to 61.4 million tons last year.
Global oilseed production for 2015/16 is projected at 526.9 million
tons, down fractionally from last month.
Ref Soya oil on NCDEX settled up on robust demand in export
market. According to USDA export sales report, net sales of around
24,400 tons was reported for 2015-16, up 39% from previous week and
72% higher from the prior 4-weeks average. India's soyoil imports
surged 56.92% to 380,121 tons in February compared to 242,235 tons
for the same period a year ago, data released by the Solvent Extractors
Association (SEA) of India showed.Country's vegetable oils import
rose by 28% to 11.10 lakh tonnes last month due to higher shipments of
refined plamolein on low global prices, according to industry body
SEA. "Import of vegetable oils during February 2016 is reported at
11,10,916 tonnes compared to 868,167 tonnes in February, 2015,"
Solvent Extractors' Association of India (SEA) said in a statement.
During November-February period of the current 2015-16 oil year, the
import of vegetable oils (comprising edible and non-edible oils)
increased by 19% to 51,25,017 tonnes as compared to 42,95,443 tonnes
in the corresponding period of the previous year, it said.
Haryana government said it has made all arrangements for the
procurement of 75 lakh metric tonne of wheat for Rabi marketing season
2016-17, starting from April."All arrangements for smooth procurement of
wheat and other grains during the Rabi season-2016 have been made," a
spokesman of Haryana Food and Supplies Department said.The
procurement agencies have also made necessary arrangements for packing
material for procurement of 75 lakh MT of wheat, he said.The state
government was committed to making payments to the farmers within 4872 hours of their grains being procured, he said.This year, about 75 lakh
metric tonnes (MT) of wheat is expected to arrive in the mandis. The
Minimum Support Price (MSP) for wheat has been fixed at Rs 1,525 per
quintal. As many as 379 mandis or purchase centres have been set up
across the state.The Food and Supplies Department and HAFED would
purchase 33 per cent each of the wheat in the mandis.Similarly, the Food
Corporation of India and the Haryana Warehousing Corporation would
purchase 12 per cent each, and the Haryana Agro Industries Corporation
ten per cent of the total arrival of wheat.Steps have been taken to ensure
that mandis are equipped with such basic amenities as drinking water,
electricity, pucca platforms, sheds and parking place. The mandis have
been so spaced as to ensure that the farmers are not required to travel more
than one km to sell their produce, the spokesman added.The production of
barley is likely to be about 1.5 lakh MT and about 10,000 MT of barley is
likely to arrive in the mandis.The MSP for barley has been fixed at Rs
1,225 per quintal. In the event market prices of barley fall below the MSP,
the state procurement agencies would effect its purchase on MSP in the
mandis allocated to them.The spokesman said that the production of gram
was likely to be about 1.05 lakh MT this year. Its MSP has been fixed at Rs
3,425 per quintal.Since the trend has been that the market prices of gram
generally rule higher than the MSP, the need to purchase at MSP may not
arise. In case the market prices tend to fall below MSP, HAFED would
make the purchases at MSP on behalf of NAFED.
Fundamental Watch : Chana
National Market Update
Imported tur increased by 5% to 9.95 thousand in the second week of March
in comparison to first week. Higher import hints uptrend to continue in the
market in coming weeks despite higher arrival in domestic markets. Good
demand has lent support to market fundamentals. Farmers have preferred to
release higher quantity at higher price and the flow is likely to continue as
demand for tur for processing is higher than normal. Despite higher domestic
arrival prices may rule firm as Burmese quotes stayed steady at $1140 per
tonne. Indian market trend follows Cnf trend for price. If Cnf quotes rules
higher, domestic price too would follow the trend.
According to the local trader of Kanpur region of Uttar Pradesh, new pea
crop start hitting the mandi. Moisture level is around 15-16 % and crop quality
is normal. Traders expect this year yield to be lower than last year. At present
arrival in the mandi are around 2000 bags per day with price range of Rs
2900-2925 per bag.
According to the local trader of Patna region of Bihar, new masoor start
hitting the market in small amount. Size of the grain is greater than last year
and moisture level is 4-5 %.Overall crop quality is good. Due to the favorable
weather condition yield per acre is around 12-15 quintal per acre this year as
compared to 7-8 quintal per acre last year. At present arrival is around 100-150
bags per day with price rangeof Rs 5400- 5500 per bag.
According to IBIS (provisional data), import of pulses in the week (07 Mar13 Mar) was around 53 Thousand tonnes at major ports in India, around 11%
lower than previous week’s (29 Feb-06 Mar) import of 60 Thousand tonnes.
Chana, Cow Pea, Kidney Bean, Masoor and Urad were imported lower this
week whereas Moong, Pigeon Pea, Green Pea and Yellow Pea were imported
higher as compared to last week.
CHANA PRICES AT KEY SPOT MARKET
SELL CORIANDER APR BELOW 7020 TARGET 6975 6825 SL
BUY GUARGUM APRIL ABOVE 5640 TARGET 5690 5760 SL
SELL TURMERIC APRIL BELOW 8300 TARGET 8256 8196 SL
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