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Epic Research Daily Agri Report 8th April 2016 .pdf


Original filename: Epic Research Daily Agri Report 8th April 2016.pdf
Title: DAILY AGRI COMMODITY REPORT 11 December 2014  

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DAILY AGRI COMMODITY REPORT
08 April 2016

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Market Views
MONTH

OPEN

HIGH

LOW

CLOSE

% CHG

VOL

MONTH

OPEN

HIGH

CORIANDER

MAY

7180

7198

6943

SUPPORT

SUPP.1

SUPP. 2

6896

6792

7000

7047
RESISTAN
CE

RES. 1

RES. 2

7151

7302

-2.02

7900

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

-

-

-

-

SUPPORT

SUPP. 1

SUPP. 2

-

-

8436

8450

8260

SUPPORT

SUPP. 1

SUPP. 2

8263

8167

8360

8357
RESISTAN
CE

RES. 1

RES. 2

8453

8547

% CHG

VOL

-

-

PIVOT

LEVELS

-

RESISTAN
CE

RES. 1

RES. 2

-

-

GUARGUM

PIVOT

INTRADAY
LEVELS

-

INTRADAY

TURMERIC

MAY

CLOSE

CASTORSEED

PIVOT

INTRADAY
LEVELS

LOW

-0.24

8610

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

MAY

5650

5820

5570

SUPPORT

SUPP. 1

SUPP. 2

5653

5487

5820

PIVOT

INTRADAY
LEVELS

5737
RESISTAN
CE

RES. 1

RES. 2

5903

5987

+3.93

22026

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

2

Most Active Contract
NCDEX INDICES
TOP LOSERS

SYMBOL

CORIANDER
TURMERIC

EXPIRY DATE

20-04-2016
20-04-2016

CURRENT
PRICE

CHANGE

7200.00

-105.00

8384.00

-36.00

CHANGE
%

Index

Value

Pre.
Close

%
Change

CASTORSEED

-

-

-

CHANA

5100

4930

+3.45

CORIANDER

7200

7351

-2.05

GUARGUM

5740

5520

+3.99

JEERA

16400

15940

+2.89

MUSTARD
SEED

4459

4380

+1.80

SOYABEAN

4095

4100

-0.12

TURMERIC

8384

8382

+0.02

-1.44%
-0.43%

TOP GAINERS

SYMBOL

EXPIRY DATE

CURRENT
PRICE

CHANGE CHANGE %

GUAR GUM

20-04-2016

5740.00

220.00

3.99%

CHANA

20-04-2016

5100.00

168.00

3.41%

JEERA

20-04-2016

16400.00

445.00

2.79%

WHEAT

20-04-2016

1585.00

5.00

0.32%

SOY BEAN

20-04-2016

4095.00

2.00

0.05%

3

Commodities In News
Soyabean on NCDEX settled up due to lower supplies and good
crushing demand in the spot market. Besides, improved global edible
oil and meal prices too supported soybean prices’ uptrend.
Furthermore, hopes for a pickup in demand for the US crop and
weather concerns for new season sowing, led to increase in soyabean
prices.The United States Department of Agriculture (USDA) said US
soybean export inspections last week totalled 204,974 tons, below the
range of trade forecasts of 300,000 to 500,000 tons. USDA said in its
weekly export sales report that for the week ending March 24, the US
witnessed exports of soybean down by 18% from the previous week
and down 49% from the prior four-week average. India's soybean
oilmeal exports plunged 98.25% to 1,127 tons in February compared to
64,514 tons for the corresponding period a year earlier on higher prices
of the bean in export market, data from SEA of India showed. Last
week, the US Department of Agriculture estimated that farmers in the
country planned to seed 82.23 million acres of soybeans this year, the
third-highest ever but below 82.65 million a year ago and an average
trade estimate of 83.057 million.
Jeera on NCDEX settled down by on account of higher supply from
the producing regions. Further, decline in the export demand too
fuelled the downtrend. Though, some losses were capped due to good
demand for new season crop at the spot market. Market players are still
expecting some more export enquiries on reports of good quality jeera
production this year but the demand is still lower.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. India's
2014-15 jeera output was lower due to adverse weather at the time of
harvesting in Gujarat and Rajasthan. In Unjha, a key spot market in
Gujarat, jeera edged down by -77.1 rupees to end at 16081.25 rupee per
100 kg.

ECONOMIC NEWS
Agriculture minister Radha Mohan Singh has called on SAARC nations
to work together for the betterment of agriculture and farmers.Addressing
the third meeting of SAARC agriculture ministers in Bangladesh capital
Dhaka on Thursday, Singh said the governments of SAARC countries are
keen on improving the economic and social statures of their agricultural
sectors."In this region, the farmers are fighting against economic disparity
and instability," he said, adding that countries can help each other to
strengthen farmers, their livelihood and environmental balance.He said for
this, it will be appropriate to initiate stable research and development work
in the agricultural sector through mutual cooperation.Singh said agriculture
in India is facing innumerable challenges since the Green Revolution of
1960s that led to an increase in productivity."These challenges are the loss
of bio elements in soil, deficiency of nutrients in soil, weeds, enhancement
of diseases and pests, soil absorbed with sodium, degradation of
groundwater level etc," he said.The minister said these not only affect
agricultural productivity but also have an adverse impact on climate.
"Climate change is a real episode and most likely it can inflict tremendous
losses in a number of cases. South Asia is one of the most sensitive regions
in the world regarding natural calamities in the perspective of climate
change," he said.Singh said a better communication network must be
formulated to provide information to farmers on sophisticated agricultural
techniques, products, methods and related services. "It is must to invest in
agricultural research for security of foodgrains in future," he added.The
Central Information Commission has directed the environment ministry to
share a copy of the bio-safety document related to genetically-modified
mustard and the raw data of studies with the caveat that provisions of the
Cartagena Protocol on Biosafety as well as confidentiality should be kept
in mind.The transparency panel also directed that the entire bio- safety data
pertaining to all other genetically modified crops in the pipeline be put in
the public domain as that is part of voluntary disclosures under Section IV
of the RTI Act.

4

Fundamental Watch : Sugar
National Market Update

SUGAR PRICES AT KEY SPOT MARKET

India has exported 82.3 thousand tons of sugar this week (ending on 03rd
Apr, 2016) which is 4% lower than the sugar exported last week.

CENTER

06-Apr-15

05-Apr-15

Change

India exported 3.59 lakh tons of sugar in March, 2016 compared to 3.18 lakh
tons of imports made during the same period.

DELHI

3625

3630

-5

MUMBAI

3750

3750

UNCH

With an early commencement of crushing operation for 2016-17 (01st Apr,
2016 – 31st Mar, 2017); Brazil’s main centre south region had crushed 1.39
lakh tons of sugar in the first half of March, 2016.

VIJAYWADA

4000

4000

UNCH

F.O Licht reduced its global sugar supply forecast to 171.1 MT in 2015-16
amidst lower sugar production estimate in top producing Asian countries
(India & Thailand).

NAGPUR

NR

NR

-

Platts Kingsman raised its global sugar supply deficit to 7.62 MT in 2015-16
amidst lower production figure received from India, Thailand and Northeast
Brazil.

CHENNAI

3650

3650

UNCH

AMBIKAPUR

3050

3050

UNCH

DHAMPUR

NA

NA

-

India has exported 82.3 thousand tons of sugar this week (ending on 03rd
Apr, 2016) which is 4% lower than the sugar exported last week.
The Indian govt. had revised the country’s sugar production forecast from 26
MT to 25.64 MT for 2015 - 16 (01st Oct, 2015 – 30th Sep, 2016).

5

Technical Outlook

SELL CORIANDER MAY BELOW 6940 TARGET 6895 6745 SL
ABOVE 7005

BUY GUARGUM MAY ABOVE 5820 TARGET 5870 5940 SL
BELOW 5760

SELL TURMERIC MAY BELOW 8260 TARGET 8216 8156 SL
ABOVE 8320

6

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