Achiievers Equities Daily Commodity Report

Daily Commodity Report as on Friday, January 02, 2015

Date : Friday, January 02, 2015 URL : www.achiieversequitiesltd.com Page No - 1

Open High Low Close % Cng OI

Gold 26698 26759 26670 26700 -0.01 7109Silver 36051 36215 36022 36173 0.51 10203

Alum. 116.75 117.45 116.4 117.25 0.34 2706Copper 399.75 400.5 397.5 398.95 -0.04 14126Lead 117.6 118.9 117.35 118.05 0.30 2045Nickel 966.2 970.6 962 966.6 0.33 3760Zinc 138 138.1 137.15 137.75 0.07 4044

Crude 3398 3410 3383 3400 0.92 29384Nat. Gas 186.6 187 182.8 185.2 -2.06 12629

Chana 26698 26759 26670 26700 -0.01 7109

Cardamom 1041 1074.9 1038.2 1074.9 4.00 1179Turmeric 8990 9348 8990 9348 3.98 26145

Jeera 16100 16540 15765 15890 -0.69 10638Dhaniya 7995 8180 7933 8001 -0.58 6730

Wheat 1713 1716 1708 1712 -0.35 2430

Soyabean 3425 3461 3407 3446 -0.26 57240Ref. Oil 636.2 643.1 636 642.05 0.51 69415CPO 460.5 460.5 456.5 458.2 -0.48 3828RMSeed 3515 3568 3501 3547 0.65 32990Menthol 731.5 732.8 726.6 730.6 -0.19 10064Cotton 15700 15770 15650 15680 -0.32 5772

USDINR 63.57 63.80 63.53 63.74 0.43 1284053EURINR 77.00 77.60 76.50 77.28 0.20 40992GBPINR 98.85 99.60 98.76 99.35 0.40 27806JPYINR 53.03 53.49 52.49 53.40 0.39 14686

Chana prices dropped on profit booking at higher levels kept the trend weak due to low demand from New Year Holidays.

Turmeric prices gained on expectation of improved demand in coming days supported the market sentiments.Currency

Jeera settled down on profit booking after prices gained on export demand and concerns about lower production.


Natural gas dropped as unusually mild winter weather crimped demand while production soared to a record for the fourth straight year.

Ref soyoil ended with gains as support seen due to improved sentiments in international markets and hike in Import Duty.Cereals

Mentha oil prices dropped amidst weak demand from consuming industries in spot market. Oil and Oilseeds & Others

Soyabean prices dropped on higher supply of the crop in international market and on weak demand for the bean in export market.

Energy Copper settled flat due to pressure from surplus supplies and slowing growth in top consumer China.

Zinc prices ended flat as an official gauge of manufacturing in China fell to the lowest in 18 months.Pulses

Nickel prices seen supported as a production halt at a nickel plant in New Caledonia rekindled supply concerns.Spices

Market Round upPrecious Metals

Gold settled flat traded in the range trying to head up as higher oil prices boosted its safe-haven appeal.

Base Metal

Silver recovered after previous day's fall as pressure from weak oil prices and gains in the U.S. dollar on Wednesday.

Crude oil gains as support seen supported by last week's larger-than-expected fall in U.S. crude stocks.

Silver settled up 0.51% at 36173 recovered after the previous day's fall as pressure from weak oil prices and gains in the U.S. dollar on Wednesday, and was poised to end 2014 track down for a 19.5 percent annual decline.The impact of a stronger dollar was partially offset by demand from investors worried about tensions in Russia and political uncertainty in Greece. Bullion was on track for a small fall this year after a turbulent 2013, whenprices fell by a third following 12 years of gains. Bullion's main driver in 2014 has been a buoyant dollar, which was poised to post its biggest yearly gain since 2005, and anticipated U.S. interest rate hikes may strengthenthe greenback's appeal in the coming year. Higher rates weigh on non-interest-bearing bullion. Silver has clearly underperformed Gold in recent times. During 2014 alone, Silver plunged by nearly 12% as against gold’s 1%drop. Also, Silver is down nearly 67% from its peak reached in 2011. On the other hand, gold has dropped only by 37% from its highs touched during the same year. Industry participants expect major rebound in silverprices in 2015. According to them, two key factors are likely to drive Silver prices higher. The shares outstanding in iShares Silver Trust- remained stable during the year. The ETF holding surged to highest level of 345 millionounces during November this year. This clearly indicates that retail investors are inclined to buy and hold Silver. The second major driver for Silver price in 2015 would be physical demand. Technically market is gettingsupport at 36059 and below same could see a test of 35944 level, And resistance is now likely to be seen at 36252, a move above could see prices testing 36330.


CLOSE 36173 RES-1 36252 The ETF holding surged to highest level of 345 million ounces during November this year.

% CNG 0.51 RES-2 36330 SELL SILVER MAR @ 36400 SL 36700 TGT 36050-35800.MCX

HIGH 36215 SUP-1 36059 Silver recovered after previous day's fall as pressure from weak oil prices and gains in the U.S. dollar on Wednesday.

LOW 36022 P.P. 36137 Bullion's main driver in 2014 has been a buoyant dollar, which was poised to post its biggest yearly gain since 2005.

Gold settled at 26700 traded in the range trying to head up as higher oil prices boosted its safe-haven appeal, but the metal looked set to post its third straight weekly loss, weighed down by a strong dollar. Comex Gold fell1.5 percent on last day of 2014 on pressure from weak oil prices and gains in the U.S. dollar on Wednesday, and was poised to end 2014 down a slight 2 percent after falling below $1,200 an ounce. The impact of a strongerdollar was partially offset by demand from investors worried about tensions in Russia and political uncertainty in Greece. Bullion was on track for a small fall this year after a turbulent 2013, when prices fell by a thirdfollowing 12 years of gains. Gold's main driver in 2014 has been a buoyant dollar, which was poised to post its biggest yearly gain since 2005, and anticipated U.S. interest rate hikes may strengthen the greenback's appeal inthe coming year. Higher rates weigh on non-interest-bearing bullion. Investors continued to run down gold holdings in 2014, with the world's largest gold-backed exchange-traded fund, the SPDR Gold Trust, falling by 140tonnes to six-year lows of 710.81 tonnes. Redemptions, however, were much smaller than in 2013, when the fund saw a record outflow of 460 tonnes, or 39 percent, to around 850 tonnes. Technically market is under freshselling as market has witnessed gain in open interest by 0.17% to settled at 7109 while prices down -3 rupee, now Gold is getting support at 26661 and below same could see a test of 26621 level, And resistance is nowlikely to be seen at 26750, a move above could see prices testing 26799.

MCX Silver Mar 2015 TRADING IDEA

OPEN 36051 SUP-2 35944 Silver trading range for the day is 35944-36330.

CLOSE 26700 RES-1 26750 The impact of a stronger dollar was partially offset by demand from investors worried about tensions in Russia and political uncertainty in Greece.

% CNG -0.01 RES-2 26799 SELL GOLD FEB @ 26850 SL 27000 TGT 26650-26450.MCX

HIGH 26759 SUP-1 26661 Gold settled flat traded in the range trying to head up as higher oil prices boosted its safe-haven appeal.

LOW 26670 P.P. 26710 Bullion was on track for a small fall this year after a turbulent 2013, when prices fell by a third following 12 years of gains.

MCX Gold Feb 2015 TRADING IDEA

OPEN 26698 SUP-2 26621 Gold trading range for the day is 26621-26799.

Copper settled down at 398.95 weighed by signs that demand for the metal is faltering as China’s economy runs out of steam. The daily decline followed data confirming manufacturing activity in China, the world’s largestcopper consumer, shrank in December. The final reading of the HSBC Manufacturing Purchasing Managers’ Index showed activity in China’s manufacturing sector slowed in December, extending a string of disappointing datathat have put the spotlight on the country’s troubles and the implications for raw-material demand. The government’s official manufacturing Purchasing Managers’ Index, released yesterday, also provided more evidence ofweakness in Chinese manufacturing. China’s economy grew at its slowest rate in more than five years in the third quarter, and growth for the full year could fall below the government target of about 7.5 per cent. Beijing hastaken steps to support its economy, including easing credit conditions and changing the way it calculates gross domestic product, but many copper investors believe the government hasn’t gone far enough to kickstartgrowth. A stimulus program announced in April fuelled investor optimism and drove prices higher, but that rally fizzled when economic data showed the measures were too narrowly targeted to turn the economy around.World production of refined copper is expected to exceed demand by 390,000 tons in 2015, marking the market’s first deficit after five straight years of surplus, the International Copper Study Group said in December.Technically market is under fresh selling as market has witnessed gain in open interest by 2.13% to settled at 14126 while prices down -0.15 rupee, now Copper is getting support at 397.5 and below same could see a test of396 level, And resistance is now likely to be seen at 400.5, a move above could see prices testing 402.


CLOSE 399.0 RES-1 400.5 The glut comes as demand from China and Europe falls, while output from expansions and new mining project increases, the ICSG said.

% CNG -0.04 RES-2 402.0 SELL COPPER FEB @ 401 SL 404.50 TGT 397.20-394.MCX

HIGH 400.5 SUP-1 397.5 Copper settled flat due to pressure from surplus supplies and slowing growth in top consumer China.

LOW 397.5 P.P. 399.0 The global copper market is expected to record a surplus of about 390,000 tonnes in 2015, according to an industry group

Crudeoil settled up 0.92% at 3400 as support seen from international market where Crude rose over $54 a barrel on the first trading day of 2015, supported by last week's larger-than-expected fall in U.S. crude stocks butinventories at the oil hub at Cushing, Oklahoma, grew, keeping prices depressed. This week US crude inventories fell by 1.8 million barrels in the last week as refineries hiked output, compared with market's expectations foran decrease of 67,000 barrels. Crude stocks at the Cushing delivery hub rose by 1.995 million barrels, EIA said. Also China's official PMI slipped to 50.1 in December from November's 50.3, a government study showed onThursday, its lowest level of the year and clinging just above the 50-point level that separates growth from contraction on a monthly basis. While Libya has made more progress in extinguishing a fire at oil storage tanks atthe country's biggest oil port, Es Sider, that has been raging for one week, a member of a firefighting crew said on Thursday. Even falling world oil prices will hurt countries across the Middle East unless Saudi Arabia, theworld's biggest crude exporter, takes action to reverse the slump, Iran's deputy foreign minister told, describing Saudi Arabia's inaction in the face of a six-month slide in oil prices as a strategic mistake and said he stillhoped the kingdom, Tehran's main rival in the Gulf, would respond. Technically market is under short covering as market has witnessed drop in open interest by -2.5% to settled at 29384 while prices up 31 rupee, nowCrudeoil is getting support at 3386 and below same could see a test of 3371 level, And resistance is now likely to be seen at 3413, a move above could see prices testing 3425.

MCX Copper Feb 2015 TRADING IDEA

OPEN 399.8 SUP-2 396.0 Copper trading range for the day is 396-402.

CLOSE 3400 RES-1 3413 Saudi Arabia said last month that it would not cut output to prop up oil markets even if non-OPEC nations did so.

% CNG 0.92 RES-2 3425 SELL CRUDE OIL JAN @ 3450 SL 3520 TGT 3350.MCX

HIGH 3410 SUP-1 3386 Crude oil gains as support seen supported by last week's larger-than-expected fall in U.S. crude stocks.

LOW 3383 P.P. 3398 US crude inventories fell by 1.8 million barrels as refineries hiked output, compared with market's expectations for an decrease of 67,000 barrels.

MCX Crudeoil Jan 2015 TRADING IDEA

OPEN 3398 SUP-2 3371 Crudeoil trading range for the day is 3371-3425.

Nickel settled up 0.33% at 966.6 as prices seen supported as a production halt at a nickel plant in New Caledonia rekindled supply concerns. Glencore Plc suspended output at its Koniambo site after a leak, which was foundon Dec. 26, the company said in a statement. Nickel has risen 11.50 percent this year, amid a ban on unprocessed-ore exports by Indonesia, the world’s biggest producer of the mined metal. US December ConferenceBoard’s Consumer Confidence Index was reported at 92.6, lower than 93.9 expected, but higher than November’s reading. Thomson Reuters data show that bond issuance from emerging market borrowers totaled some USD480 billion in 2014. The bulk of issuance this year came from companies, which sold USD 367 of bonds, while sovereign borrowers issued USD 106 billion. China was the biggest source of hard currency issuance in 2014,making up USD 101 billion of bonds. While China’s President Xi Jinping stated in a recent meeting that the government has fulfilled 80 key reform tasks for 2014. Chinese Finance Minister Lou Jiwei emphasized that the fiscaland tax system reforms will be advanced further in 2015 and accommodative fiscal policy will be ramped up to ensure a stable economic growth. China’s property market has shown signs of recovery, with new house saleshitting 248,277 units December 1-25, increasing 27% YoY and 16% MoM. Technically market is under fresh buying as market has witnessed gain in open interest by 0.99% to settled at 3760 while prices up 3.2 rupee, nowNickel is getting support at 962.2 and below same could see a test of 957.8 level, And resistance is now likely to be seen at 970.8, a move above could see prices testing 975.


CLOSE 966.6 RES-1 970.8 Nickel has risen 11.50 percent this year, amid a ban on unprocessed-ore exports by Indonesia, the world’s biggest producer of the mined metal.

% CNG 0.33 RES-2 975.0 SELL NICKEL JAN @ 975 SL 985 TGT 965-950.MCX

HIGH 970.6 SUP-1 962.2 Nickel prices seen supported as a production halt at a nickel plant in New Caledonia rekindled supply concerns.

LOW 962.0 P.P. 966.4 Glencore Plc suspended output at its Koniambo site after a leak, which was found on Dec. 26, the company said in a statement.

Zinc settled up 0.07% at 137.75 as prices settled flat after pressure seen as an official gauge of manufacturing in China fell to the lowest in 18 months. China's factory activity sputtered in December, underlining thechallenges facing the country's manufacturers as they fight rising costs and softening demand in a cooling economy. Investors are hoping Chinese authorities will roll out more stimulus measures to support the economy.Still, a top Chinese government think tank said on Monday growth is expected to slow to 7 percent next year from a forecast 7.3 percent this year. Data showed activity in China's factory sector shrank for the first time inseven months in December, highlighting the urgency behind a series of surprise easing moves by Beijing in the past two months. Last week Zinc prices are moving in a rather directionless manner. The market participantshave been cautious lately, as stocks for the metal continue to decrease and many major mines were closed, leading to the supply being limited. Therefore, the year of 2015 is likely to give some opportunities for the marketinvestors, especially since other commodities are struggling. Trading in many countries will stop earlier than usual for the New Year’s Day. The London Metal Exchange is set to suspend trading at zero o’clock Beijing time.Technically market is under short covering as market has witnessed drop in open interest by -1.17% to settled at 4044 while prices up 0.1 rupee, now Zinc is getting support at 137.3 and below same could see a test of136.7 level, And resistance is now likely to be seen at 138.3, a move above could see prices testing 138.7.

MCX Nickel Jan 2015 TRADING IDEA

OPEN 966.2 SUP-2 957.8 Nickel trading range for the day is 957.8-975.

CLOSE 137.8 RES-1 138.3 China’s official Purchasing Managers’ Index slipped to 50.1 in December from 50.3 in November, according to data released

% CNG 0.07 RES-2 138.7 SELL ZINC JAN @ 138.20 SL 139.20 TGT 137.20-136.MCX

HIGH 138.1 SUP-1 137.3 Zinc prices ended flat as an official gauge of manufacturing in China fell to the lowest in 18 months.

LOW 137.2 P.P. 137.7 A top Chinese government think tank said that it expects economic growth in the country to slow to 7 percent next year

MCX Zinc Jan 2015 TRADING IDEA

OPEN 138.0 SUP-2 136.7 Zinc trading range for the day is 136.7-138.7.

Turmeric settled up by 3.98% at 9348 on expectation of improved demand in coming days supported the market sentiments. Falling stocks too are likely to support the prices. A fall in sowing area in Tamil Nadu andKarnataka due to the cyclone in October amidst delayed Monsoon could affect the production adversely-as per market sources. Even as area in Andhra Pradesh goes up, overall production is expected to come down-lendingmedium term support to the prices. Traders, especially exporters, procured good number of turmeric due to arrival of good quality produce. Many buyers were keen on buying quality hybrid turmeric and also local rootvariety turmeric. Sowing of Turmeric in AP for the 2014-15 season is reported at 0.13 lakh ha, as against 0.1 lakh ha last year. The area in Telanaga stood at 0.446 lakh ha against 0.431 lakh ha last year. Exports in turmerichave increased by 10% to 43000 tonnes during Apr-Sep 2014 as compared to last year. The export target for the 2014-15 is 80000 tonnes according to Spice Board. Over 20 lakh bags of turmeric (65 kg each) was sold in2014. Yesterday turmeric prices fluctuated as higher arrivals put pressure; still they ended higher. The root variety was sold at the maximum price of Rs. 8,241 a quintal on the last day of the year. In Nizamabad, a majorspot market in AP, the price ended at 7688.9 rupees remains unchanged at0 rupees.Technically market is under short covering as market has witnessed drop in open interest by -1.69% to settled at 26145 while prices up358 rupee, now Turmeric is getting support at 9108 and below same could see a test of 8870 level, And resistance is now likely to be seen at 9466, a move above could see prices testing 9586.


CLOSE 9348 RES-1 9466 NCDEX accredited warehouses turmeric stocks dropped by 64 tonnes to 1342 tonnes.

% CNG 3.98 RES-2 9586 BUY TURMERIC APR @ 9200 SL 9050 TGT 9320-9500.NCDEX

HIGH 9348 SUP-1 9108 Turmeric prices gained on expectation of improved demand in coming days supported the market sentiments.

LOW 8990 P.P. 9228 Falling stocks too are likely to support the prices. A fall in sowing area in Tamil Nadu and Karnataka due to the cyclone in October.

Chana settled down by -2.03% at 3478 on profit booking at higher levels kept the trend weak due to low demand from New Year Holidays. So exports are likely to pick up as markets open after 1st week of January. Lowerproduction expected this time but improved climate in growing states are reportedly good for the standing crop. According to Ministry of Agriculture, total rabi pulses acreage till now is down by 10.9% to 119.89 lakhhectare(Ha.) as compared with last year’s area coverage of 132.79 lakh hectare during the corresponding week. The area planted under chana is also down to 75.51 Lakh Ha. against 89.46 lakh ha. in same correspondingweek during last year. Latest report from AP Agri Dept indicates Rabi Pulses sowing down 6% from 6.43 lakh ha as on 24.12.2013 to 6.02 lakh ha as on 24.12.2014. Meanwhile, according to Australian Bureau of Agricultureand Resource Economics (ABARE) total acreage in Australia was down by 33% to 339,000 hectare as compared to previous year. Australia is major supplier to Indian markets, contributes over 65-70% of the country's totalquantity imported. Production in Australia has taken setback due to lower planted area owing to soil moisture deficit and low price for the pulse which limited the farmers from planting chickpeas. In Delhi spot market, chanadropped by -109.9 rupee to end at 3563.9 rupee per 100 kgs.Technically market is under fresh selling as market has witnessed gain in open interest by 12.07% to settled at 66180 while prices down -72 rupee, now Chana isgetting support at 3434 and below same could see a test of 3391 level, And resistance is now likely to be seen at 3550, a move above could see prices testing 3623.

NCDEX Turmeric Apr 2015 TRADING IDEA

OPEN 8990 SUP-2 8870 Turmeric trading range for the day is 8870-9586.

CLOSE 3478 RES-1 3550 NCDEX accredited warehouses chana stocks dropped by 590 tonnes to 37619 tonnes.

% CNG -2.03 RES-2 3623 BUY CHANA FEB @ 3420 SL 3370 TGT 3460-3520.NCDEX

HIGH 3580 SUP-1 3434 Chana prices dropped on profit booking at higher levels kept the trend weak due to low demand from New Year Holidays.

LOW 3464 P.P. 3507 Lower production expected this time but improved climate in growing states are reportedly good for the standing crop.

NCDEX Chana Feb 2015 TRADING IDEA

OPEN 3580 SUP-2 3391 Chana trading range for the day is 3391-3623.

120.5119.7118.9

115.7116.5117.3

2045

118.1

0.95


Positive Positive

SPREAD 267 679 55.00 2.10 4.15 0.60 6.40

TREND Positive Positive Positive Positive Positive Positive Positive

0.30

957.8 116.026661 36059 3386 183.0 397.5

OI 7109 10203 29384 12629 14126 4044 3760 2706136.3 953.6 115.6

137.3 962.2 116.6136.7

P. POINT 26710 36137 3398 185.0 399.0

26572 35866 3359 178.8 394.5SUPPORT 26621 35944 3371 180.8 396.0

400.5 138.3 970.8 117.6137.7 966.4 117.0

RESISTANCE26839 36445 3440 191.4 403.5 139.3 979.4 118.626799 36330 3425 189.2 402.0 138.7 975.0 118.026750 36252 3413 187.2

CLOSE 26700 36173 3400 185.2 398.95 137.75 966.6 117.25

Mentha oil settled down by -0.19% at 730.6 amidst weak demand from consuming industries in spot market. Closure of International markets for New Year adversely affected the export demand that had picked up recently.However, domestic demand from pharmaceutical Industries in Indian markets may support the falling rates in coming days. High stocks are keeping uptrend limited. Exports expected to pick up in Jan 2nd week asInternational markets open. As per the Latest reports from Spice Board indicate that for the period April/December last year, exports for Mint value-added products like Oil, Menthol and its crystals rose 94% in volumes at17,850 tonnes and 39% in value at Rs 2202 Cr w.r.t. same period the previous year. Prices had been in corrective mode since last 3years after Govt stated banning of Gutkha in some states which continues having negativeimpact on Mentha Oil demand. As farmers are not getting lucrative returns from the crop due to weakness in the prices and poor demand with High carry stock this year farmers can divert to some other cash crop that cansupport the prices in Q1Y15 as that can reduce the production from 60000 tonnes to ~45-50000 tonnes as compare to last year. At Rampur market total arrivals are at 5 Drums(1-drum=180kg), down by 1 Drums(1-drum=180kg) as against previous day. Technically market is under long liquidation as market has witnessed drop in open interest by -0.34% to settled at 10064 while prices down -1.4 rupee, now Menthaoil is gettingsupport at 727.2 and below same could see a test of 723.8 level, And resistance is now likely to be seen at 733.4, a move above could see prices testing 736.2.

DAILY MARKET LEVEL FOR METAL AND ENERGY

COMMODITIES GOLD SILVER CRUDE NAT.GAS COPPER ZINC NICKEL ALUMINUM LEAD

118.1

CLOSE 730.6 RES-1 733.4 Closure of International markets for New Year adversely affected the export demand that had picked up recently.

% CNG -0.19 RES-2 736.2 BUY MENTHA OIL JAN @ 725-726 SL BELOW 716 TGT 734-742-756. MCX (BTST)

HIGH 732.8 SUP-1 727.2 Menthaoil spot is at 840/-. Spot market remains unchanged.

LOW 726.6 P.P. 730.0 Mentha oil prices dropped amidst weak demand from consuming industries in spot market.

MCX Menthaoil Jan 2015 TRADING IDEA

OPEN 731.5 SUP-2 723.8 Menthaoil trading range for the day is 723.8-736.2.

1:30pm EUR -72.0K -14.7K1:45pm EUR 54.9 54.72:15pm EUR 49.6 492:30pm EUR 50.8 50.83:00pm GBP 53.7 53.53:00pm GBP 2.5B 2.6B3:00pm GBP 0.002 -0.0013:00pm GBP 59K 59K8:15pm USD 54.1 53.78:30pm USD 57.6 58.78:30pm USD 0.004 0.0118:30pm USD 43.1 44.5

0 0 0 0

8

Japan's ruling coalition has approved a tax reform plan that will cut corporate taxes from April andpledges further reductions in coming years in a bid by Prime Minister Shinzo Abe to boost profitabilityand bolster economic growth. The plan approved by Abe's Liberal Democratic Party and its coalitionpartner Komeito on Tuesday would cut the overall effective corporate tax rate by 2.51 percentagepoints to 32.1 percent from April and then to 31.3 percent the following year. Abe pledged in June tolower the corporate tax rate to below 30 percent over the coming years to help pull Japan out ofnearly two decades of deflation. Earlier this year, he eliminated a levy on companies imposed in 2012to help fund disaster relief. Takeshi Noda, chairman of the LDP's tax panel, estimated that thecorporate tax cut would amount to about 400 billion yen ($3.32 billion) over the next two fiscal years.Abe hopes the tax cuts will encourage companies to raise wages, which would spur consumerspending, and to invest some of the $1.9 trillion in cash held by companies outside the financialsector. Japan's top effective corporate tax rate is 34.6 percent, among the highest in the majoreconomies. The average corporate tax rate stands around 25 percent among OECD economies.

Alarmed by the adverse impact of slow progress in sowing of chana during the current rabi season,the government has decided not to impose a proposed 10% import duty on 'chana' (gram) till March2015. A senior agriculture ministry official told Business Standard that the department has proposed a10% duty on ‘chana’ and also recommended freeing exports of all other varieties of pulses as priceshad declined in the past few weeks. The ministry's view was however countered by the consumeraffairs department, which argued that imposing an import duty at this juncture might have an impactin the coming months, especially given that ‘chana’ acreage in the current rabi season is less than lastyear. Besides, no decision has been taken yet on allowing bulk exports of all varieties of pulses andedible oils. There has been a ban on these exports, except for chickpea (kabuli chana) and organicallygrown ones. A sudden spurt in prices of pulses could have an impact on Delhi state elections whichare due around February. However, prices could rise in the coming months as the crop has beenplanted in around 7.78 million hectares till last week, as compared with 9.06 million Ha in thecorresponding period of last year. In 2013-14, India’s production of 'chana' was 9.88 million tonnes,up from 8.83 MT the previous year. India imports chickpeas and dried peas from Australia andTanzania. Domestic production of 'chana' is mostly concentrated on the central and southern parts ofIndia.

Alarmed by the adverse impact of slow progress in sowing of chana during the current rabi season,the government has decided not to impose a proposed 10% import duty on 'chana' (gram) till March2015. A senior agriculture ministry official told Business Standard that the department has proposed a10% duty on ‘chana’ and also recommended freeing exports of all other varieties of pulses as priceshad declined in the past few weeks. The ministry's view was however countered by the consumeraffairs department, which argued that imposing an import duty at this juncture might have an impactin the coming months, especially given that ‘chana’ acreage in the current rabi season is less than lastyear. Besides, no decision has been taken yet on allowing bulk exports of all varieties of pulses andedible oils. There has been a ban on these exports, except for chickpea (kabuli chana) and organicallygrown ones. A sudden spurt in prices of pulses could have an impact on Delhi state elections whichare due around February. However, prices could rise in the coming months as the crop has beenplanted in around 7.78 million hectares till last week, as compared with 9.06 million Ha in thecorresponding period of last year. In 2013-14, India’s production of 'chana' was 9.88 million tonnes,up from 8.83 MT the previous year. India imports chickpeas and dried peas from Australia andTanzania. Domestic production of 'chana' is mostly concentrated on the central and southern parts of

The average unit value per tonne increased 7.4% to Rs 161,300 as against Rs 150,216 per tonne in2013. This was mainly due to depreciation of rupee against the dollar during the first half of last year.However, in dollar terms, the earnings remained almost flat at $818 million compared to $815 millionin 2013, according to Coffee Board. Of the total exports, Indian origin green coffee accounted for242,960 tonne compared to 244,635 tonne in the previous year, a drop of less than 1% over theprevious year. Balance 65,752 tonne were re-exports, mainly in the form of valued added coffee orinstant coffee. In 2013, India exported 67,057 tonne of instant coffee. At the beginning of the year,the Coffee Exporters' Association had projected around 5% decline in green bean exports. However,strong demand for instant coffee arrested the decline to less than 2%. The drop in exports was mainlyon account of lower than expected production at 304,500 tonne during 2013-14. The production camedown mainly due to adverse weather conditions like extreme drought in the early part of 2014 andexcess rains during the monsoon period, which damaged the crop. With better crop projected by theCoffee Board for the year 2014-15 at 344,500 tonne, bean exports for the year 2015 are likely to bearound 10% higher, Ramesh Rajah, President, Coffee Exporters' Association said.

Date : Friday, January 02, 2015 URL : www.achiieversequitiesltd.com Page No -

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Growth in China's services sector picked up slightly in December, a government study showed,helping to offset further weakness in manufacturing which is weighing on the world's second-largesteconomy. The official non-manufacturing Purchasing Managers' Index, or PMI, rose to 54.1 inDecember from November's 53.9, well above the 50-point line that separates growth from contractionon a monthly basis. A similar activity study showed growth in China's factory sector slowed asexpected in December, underlining the challenges facing the government as it tries to avert a sharpereconomic slowdown. Many analysts expect economic growth in the fourth quarter to slow marginallyfrom 7.3 percent in the third quarter, suggesting full-year growth will undershoot the government's7.5 percent target and mark the weakest expansion in 24 years.

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