Epic Research Daily Agri Report 11th May 2016 .pdf
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Title: DAILY AGRI COMMODITY REPORT 11 December 2014
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DAILY AGRI COMMODITY REPORT
11 May 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 %
Commodities In News
Soyabean on NCDEX settled up by 0.91% at 4091 tracked by higher
prices in international markets as strong demand from top importer
China and concerns over crop damage in Argentina buoyed the market.
However, some gains were capped owing to lack of consistency in
demand for soybean meal and slowing demand for refined soy oil.
Chinese soybean imports surged 33 percent higher in April from a year
ago, setting a monthly record, amid strong demand for soymeal and
soyoil. China imported 7.07 million tonnes of soybeans in April, up
15.9 percent compared to the previous month, preliminary figures
issued by the General Administration of Customs showed.March
imports were also a monthly record and soybean imports have surged
in 2016 on rising demand for soymeal for hog farms in China. For the
first four months of the year, imports have climbed 11.4 percent from a
year ago to 23.33 million tonnes. India's soymeal export continued to
sag and slipped 73.5% to 12,295 tons said SOPA. India had exported
46,389 million soymeal in the corresponding period last year, said
Chana on NCDEX settled up by 1.35% at 5686 due to pick up in
demand in the spot market against restricted supplies from producing
regions. Further, fall in domestic production due to back-to-back
drought too supported chana prices uptrend. However, the
government's measures to check increase in prices capped the rise.
Import of pulses rose 26 per cent to 5.79 million tonnes (mt) last
financial year to meet rising domestic demand, Parliament was
informed.India had imported 4.58 mt during 2014-15. "There has been
a gap between the demand and supply of pulses in the country during
the last year and the current year as the domestic demand for pulses is
higher than the domestic production," Food Minister Ram Vilas
Paswan said. According to information received from APEDA during
the first 11 months of financial year 2015-16 (April 2015 to February
2016), about 217,843 tons of pulses have been exported from the
India's foodgrain production increased marginally to 252.23 million
tonnes in the 2015-16 crop year, as per the third advance estimates, despite
setback due to deficient rainfall and shortage of water in
reservoirs.Production of rice, coarse cereals,pulses, oilseeds, sugarcane
,cotton and jute was lower due to erratic rainfall during the 2015 monsoon
season."As per the 3 rd advance estimates for 2015-16 total foodgrains
production in the country has been higher than that in the last year. Total
foodgrains production during 2015-16, estimated at 252.23 million tonnes,
has been higher by 0.21 million tonnes over the production of 252.02
million tonnes during 2014-15," the ministry said in a release.Rice
production during 2015-16 is estimated at 103.36 million tonnes, which is
lower by 2.12 million tonnes than its production of 105.48 million tonnes
during 2014-15.Production of wheat estimated at 94.04 million tonnes is
higher by 7.51 million tonnes than the production of 86.53 million tonnes
of wheat during 2014-15. Total production of coarse cereals is estimated at
37.78 million tonnes which is lower by 5.08 million tonnes as compared to
their production of 42.86 million tonnes during 2014-15.Output of pulses is
estimated at 17.06 million tonnes during 2015-16, marginally lower than
the previous year's production of 17.15 million tonnes.With a decline of 1.6
million tonnes over the previous year's production's total oilseeds
production in the country during 2015-16 is estimated at 25.9 million
tonnes.Production of sugarcane estimated at 346.72 million tones, is lower
by 15.61 million tonnes than its production during 2014-15.Production of
Cotton estimated at 30.52 million bales (of 170 kg each) is also lower by
4.28 million bales than its production of 34.805 million bales during 201415. Production of Cotton estimated at 30.52 million bales (of 170 kg each)
is also lower by 4.28 million bales than its production of 34.805 million
bales during 2014-15.Production of jute is estimated at 9.92 million bales
(of 180 kg each) which is lower by 0.70 million bales than its production of
10.62 million bales during 2014-15.
Fundamental Watch : Castorseed
National Market Update
NCDEX has announced that it will pay money to those net sellers who had
sold castor seed when castor seed contracts were suspended in January-2016
as per announced formula. The exchange has announced the close out price for
the seed during that time. The person who had deposited seed in exchangeaccredited warehouses as hedgers at that time too would get money as
compensation. Protecting investors by paying them money is first such move
by any commodity derivative exchange.
India exported 9628.55MT castor oil during week ended 8th May-2016 at an
average price of $1138.30 per MT. It is lower by 2.35.% from previous week.
The maximum and minimum prices were registered at $3793.77 and 910.44
per MT. Castor oil export would continue to stay steady as prices are lower
than normal expectation and availability is higher.
All India average price for castor seed decreased by 7.20 % from Rs 3558.35
to Rs 3301.88 perqtl during the week ended on 30th April-2016. However, it is
higher by 9.44% from the price registered during the second week of April.
When we compare average price of seed from April-2015, it rules lower by
5.35 % from current average price (Rs3301.88 per qtl.). Decrease in demand
for seed at higher level restricted firm tone during the week under review.
However, more dip is unlikely as pace for seed arrivals in markets has
CASTORSEED PRICES AT KEY SPOT
SELL CORIANDER JUN BELOW 7100 TARGET 7055 6955 SL
SELL GUARGUM JUN BELOW 5430 TARGET 5380 5310 SL
SELL TURMERIC JUN BELOW 8120 TARGET 8076 8016 SL
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