DAILY AGRI COMMODITY REPORT

13 July 2016

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Market Views

2

MONTH OPEN HIGH LOW CLOSE % CHG VOL MONTH OPEN HIGH LOW CLOSE % CHG VOL

TURMERIC

AUG 8098 8098 8000 8038 +0.02 -

INTRADAY

LEVELS

SUPPORT

SUPP. 1

7993

SUPP. 2

7947

PIVOT

8045

Turmeric short term

trend is bearish and

May continue in

coming days. RESISTAN

CE

RES. 1

8091

RES. 2

8143

CORIANDER

AUG 7720 7750 7681 7706 +0.59 -

INTRADAY

LEVELS

SUPPORT

SUPP.1

7675

SUPP. 2

7643

PIVOT

7712

Coriander short term

trend is bearish and May

continue in coming

days. RESISTAN

CE

RES. 1

7744

RES. 2

7781

GUARGUM

OCT 7050 7120 6850 6910 +1.61 -

INTRADAY

LEVELS

SUPPORT

SUPP. 1

6800

SUPP. 2

6690

PIVOT

6960

Guargum short term

trend is bearish and

May continue in

coming days. RESISTAN

CE

RES. 1

7070

RES. 2

7230

CASTORSEED

- - - - - - -

INTRADAY

LEVELS

SUPPORT

SUPP. 1

-

SUPP. 2

-

PIVOT

- -

RESISTAN

CE

RES. 1

-

RES. 2

-

Most Active Contract

3

NCDEX INDICES

Index Value Pre.

Close

%

Change

CASTORSEED - - -

CHANA 9380 9108 +2.99

CORIANDER 7898 7817 +1.04

GUARGUM 6990 6850 +2.04

JEERA 18935 18770 +0.88

MUSTARD

SEED 4821 4804 +0.35

SOYABEAN 3828 3796 +0.84

TURMERIC 8030 8038 -0.10

TOP GAINERS

SYMBOL EXPIRY DATE CURRENT

PRICE CHANGE

CHANGE

%

GUAR GUM 20-07-2016 6640.00 190.00 2.95%

CHANA 20-07-2016 9380.00 266.00 2.92%

CORIANDER 20-07-2016 7898.00 121.00 1.56%

GUAR SEED 10 MT 20-07-2016 3567.00 38.00 1.08%

TOP LOSERS

SYMBOL EXPIRY DATE CURRENT

PRICE CHANGE

CHANGE

%

COTTON SEED OIL CAKE

AKOLA 20-07-2016 2570.00 -18.00 -0.70%

SOY BEAN 20-07-2016 3585.00 -1.00 -0.03%

Commodities In News

4

ECONOMIC NEWS

A spurt in domestic cotton prices, which have now surpassed

international rates, will hurt yarn demand and profitability of spinning

companies in the current quarter, ratings firm ICRABSE 0.99 % said in a

report on the Indian spinning industry. Domestic prices of ginned cotton

have increased significantly from about Rs 90-92 a kilogram in April 2016

to about Rs 122 kg currently. The increased local price of the raw material

was more than what the industry expected. "The spurt in cotton prices is

beyond expectations and points to a severe shortage of cotton in the

domestic markets," said Anil Gupta, vice preside of corporate sector ratings

at the ratings firm. "Slower cotton sowing and decline in cotton sown area;

apart from cotton stocking by intermediaries, could have led to this sharp

rise in prices. However, the recent increase in cotton prices can motivate

the farmers further and the cotton sowing area can improve in the coming

months.” As per ICRA estimates, in the near term, profitability of the

spinning industry will be adversely impacted because of the price rise, even

as it faces slow growth in domestic consumption. With local cotton prices

higher than international ones, export prospects, too, will now get

hit. "Both the above factors a challenge for the mills to sell their production

and one can see a decline in capacity utilization and also contribution

margins, to prevent inventory build-up," Gupta said. The spinning players,

who may have stocked inventories for four to five months in March 2016,

may witness improved profitability as they are likely to gain from higher

yarn prices. However, "as per our interaction, many spinning companies

had expected cotton prices to be stable in CY2016, and the cotton

inventory stocking was not beyond two months in March 2016", he wrote.

Planting of crops has jumped 88 per cent in the past week in step with

the monsoon's surge since the end of June, raising hopes of a much higher

production and moderate prices of pulses and rice. Water level in reservoirs

also increased, which is good for post-monsoon irrigation and hydropower

generation. Planting of pulses jumped 131 per cent in a week, and is 26 per

cent higher than last year even though this year's monsoon came late and

was scanty till the middle of last month.

Declining supplies in local mandies have supported coriander futures

in today's trading. As per market sources, the total daily arrivals of

coriander have been remained thin despite of new market season. The

daily arrivals have been reported at 8000 to 10000 bags against normal

arrivals of 18000 to 20000 bags during this period. However, total

production in the current year is also expected to be higher by 10 to 15

percent higher from the last year. The NCDEX August futures

increased by percent to close at Rs per quintal.

Mustard seed futures have witnessed some bargain buying due to

fragile sowing of kharif oilseeds so far in the current year coupled with

recovery in meal demand. As per official data, the overall sowing

acreage of kharif oilseeds has been reported at 82.26 lakh hectares on

8th July 2016, down 18 % from last year in the same period. The prices

were also supported by strong demand of oil meal exporters in local

mandies as countries such as South Korea and Indonesia have reported

strong export inquiries for the coming months. The spot prices of

mustard seed at Jaipur mandi were increased by Rs 55 per quintal

today. The NCDEX August futures augmented by 1.51 percent today to

close at Rs 4902 per quintal.

In Andhra Pradesh, Chilli sown area is 2741 hectares as on 06-07-

2016, as against normal in season area of 118022 hectares. Last year

area coverage for the same period was 992 hectares. Kurnool district

reported higher 1023 hectares compared to last year 293

hectares. In Telanagana, Chilli sowing area reported around 701

hectares as compared to last year 600 hectares as on 06-07-2016.

Normal in season 59955 hectares.

Stating that there should not be any delays in disbursement of crop

loans, Agriculture Minister Radha Mohan Singh today asked banks to

take measures to ease the approval process to provide loans on time to

farmers.

Technical Outlook

5

BUY CORIANDER AUG ABOVE 7780 TARGET 7825 7925 SL

BELOW 7715

BUY GUARGUM OCT ABOVE 6850 TARGET 6900 6970 SL

BELOW 6790

BUY TURMERIC AUG ABOVE 8050 TARGET 8094 8154 SL

BELOW 7990

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