Epic research daily agri report 25th april 2016
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Transcript of Epic research daily agri report 25th april 2016
DAILY AGRI COMMODITY REPORT
25 April 2016
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Market Views
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MONTH OPEN HIGH LOW CLOSE % CHG VOL MONTH OPEN HIGH LOW CLOSE % CHG VOL
TURMERIC
MAY 8434 8570 8434 8548 +1.09 10565
INTRADAY
LEVELS
SUPPORT SUPP. 1
8465
SUPP. 2
8381
PIVOT
8517
Turmeric short term
trend is bullish and
May continue in
coming days.RESISTAN
CE
RES. 1
8601
RES. 2
8653
CORIANDER
MAY 7191 7384 7121 7364 +2.39 5460
INTRADAY
LEVELS
SUPPORT SUPP.1
7195
SUPP. 2
7026
PIVOT
7290
Coriander short term
trend is bullish and May
continue in coming
days.RESISTAN
CE
RES. 1
7458
RES. 2
7553
GUARGUM
MAY 5990 6210 5940 6210 +3.85 20034
INTRADAY
LEVELS
SUPPORT SUPP. 1
6030
SUPP. 2
5850
PIVOT
6120
Guargum short term
trend is bullish and
May continue in
coming days.RESISTAN
CE
RES. 1
6300
RES. 2
6390
CASTORSEED
- - - - - - -
INTRADAY
LEVELS
SUPPORT SUPP. 1
-
SUPP. 2
-
PIVOT
--
RESISTAN
CE
RES. 1
-
RES. 2
-
Most Active Contract
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NCDEX INDICES
Index ValuePre.
Close
%
Change
CASTORSEED - - -
CHANA 4635 5419 +3.99
CORIANDER 7364 7192 +2.39
GUARGUM 6210 5980 +3.85
JEERA 17075 16505 +3.45
MUSTARD
SEED4562 4546 +0.35
SOYABEAN 4224 4290 -1.54
TURMERIC 8548 8456 +1.09
TOP LOSERS
SYMBOL EXPIRY DATECURRENT
PRICECHANGE
CHANGE
%
SOY BEAN 20-05-2016 4224.00 -69.00 -1.61%
TOP GAINERS
SYMBOL EXPIRY DATECURRENT
PRICECHANGE CHANGE %
GUAR GUM 20-05-2016 6210.00 230.00 3.85%
GUAR SEED 10 MT 20-05-2016 3557.00 121.00 3.52%
CHANA 20-05-2016 5543.00 163.00 3.03%
JEERA 20-05-2016 17075.00 490.00 2.95%
CORIANDER 20-05-2016 7364.00 194.00 2.71%
Commodities In News
4
ECONOMIC NEWS
The government will release 10,000 tonnes of pulses from its buffer
stocks to boost supply in the domestic market and check any price rise.The
Centre has also directed state governments to keep a close watch on the
prices and to take stringent action against hoarding of the
commodity.Although retail prices of pulses have eased from the last year's
level of Rs 200 per kg, rates are still ruling high at Rs 83-177 per kg range
in most parts of the country."The Centre has decided to release 10,000
tonnes pulses mainly tur and urad from buffer stock to ensure their
availability at reasonable prices," an official statement said.The Centre
asked the state governments to avail this benefit and utilise the available
stocks for managing the prices of pulses in their respective state.A buffer
stock of 50,000 tonnes has been created to deal with any price rise.Pulses
prices are under pressure due to fall in domestic production in the wake of
back-to-back drought.Meanwhile, the Centre has already empowered the
states to impose stock limits on the pulses to ensure easy availability.The
government agencies have made procurement of about 50,000 tonnes of
pulses from farmers during the Kharif Marketing season 2015-16 and has
contracted 25,000 tonnes of pulses for import.The government is also
initiating procurement of rabi pulses and has targeted to procure around
1,00,000 tonnes of chana and masoor to build the buffer stocks
further."SEBI has decided to implement various regulatory measures on
Chana contracts which include increase in the margin requirement to
discourage speculation and to moderate the price volatility in forward
market," the statement said.In order to encourage pulses production, the
government has already increased MSP for pulses, by Rs 275 per quintal
for tur and urad, and by Rs 250 per quintal for moong.As per the
agriculture ministry's second estimate, pulses production is estimated at
17.33 million tonnes in 2015-16 crop year (July-June), marginally higher
than the previous year's production of 17.15 million tonnes.India is the
world's largest producer of pulses, but its domestic demand outstrips
production. The shortfall is met through imports.
Turmeric on NCDEX settled flat as prices recovered from lows on
account of good physical demand and expectation of higher export
demand from the country as quality arrivals have improved in April.
Turmeric arrivals have been higher in Feb and March compared to last
year as per data. New season crop has hit the markets and continue to
peak in current month but majority of arrivals are of medium quality.As
per dept of commerce data, turmeric exports until Jan 2016 pegged at
69,864 tonnes while the export for the 2014-15 is 90,738 tonnes
compared to 77,430 tonnes in FY14. As on latest sowing data, turmeric
sowing in AP, Telangana is lower than the normal sowing. Spot
turmeric prices are decreasing daily due to negligible upcountry
demand. In the last 10 days, the finger turmeric was down by Rs. 1,000
a quintal and the root variety by Rs. 450-500.Such drastic fall in price
is due to the poor buying by North Indian traders. Around 10,500 bags
arrived for sale, including 7,500 bags of new turmeric. Turmeric prices
have turned bullish on reports of a shortfall in production in the key
growing areas of Andhra Pradesh and Maharashtra.
Jeera on NCDEX settled up due to some fresh export enquiries at the
spot market. However upside seen limited due to improving supplies
from the producing belts. Trade sources expect increased demand on
fears of crop damage because of the recent unseasonal rains. 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. As per second advance estimate of Gujarat State for 2015-
16, production is pegged at 2.11 lt higher by about 7% forecasted in
revised fourth advance estimate of 1.97 lt. In 2013-14, production was
3.46 lt. According to Dept of Commerce data, the export of jeera
during first 11 month of 2015-16 (Apr-Jan) is 71,983 tonnes compared
to 1.37 lt exported last year same period.
5
Fundamental Watch : Sugar
SUGAR PRICES AT KEY SPOT MARKET National Market Update
Indian sugar exports fell by 15% as the country exported 54.6 thousand tons
of sugar last week (ending on 17th Apr, 2016) compared to 63.9 thousand tons
of export in the previous week.
Indonesia’s sugar production is expected to decline to 2.5 MT amid El Nino
related weather factors prevailing during the year 2016 .
5 sugar mills in Andhra Pradesh had produced 8.10 lakh tons of sugar in
2015-16 (01st Oct, 2015 – 15th Apr, 2016) which was 7.43% less than the
sugar produced last year in 2014-15 (01st Oct, 2014 – 15th Apr, 2015).
Sugar production rose by 12.12% in Tamil Nadu which produced 9.25 lakh
tons of sugar in 2015-16 (01st Oct, 2015 – 15th Apr, 2016) compared to 8.25
lakh tons of production in 2014-15 (01st Oct, 2014 – 15th Apr, 2015).
With a view to control soaring sugar prices, Agriculture ministry asked state
government to put stock limit on sugar. Though final notification is still
pending.
Indian sugar production fell by 8.02% as the country produced 243.44 lakh
tons of sugar in 2015-16 (01st Oct, 2015 – 15th Apr, 2016) compared to
264.68 lakh tons of production in 2014-15 16 (01st Oct, 2014 – 15th Apr,
2015).
CENTER 22-Apr-15 21-Apr-15 Change
DELHI 3600 3675 -75
MUMBAI 3766 3766 UNCH
VIJAYWADA 4000 4000 UNCH
NAGPUR NR NR -
CHENNAI 3550 3550 UNCH
AMBIKAPUR 3035 3035 UNCH
DHAMPUR Closed NA -
Technical Outlook
6
BUY CORIANDER MAY ABOVE 7384 TARGET 7429 7529 SL
BELOW 7319
BUY GUARGUM MAY ABOVE 6210 TARGET 6260 6330 SL
BELOW 6150
BUY TURMERIC MAY ABOVE 8570 TARGET 8614 8674 SL
BELOW 8510
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