WEEKLY AGRI REPORT 7TH JANUARY 2013

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HEADLINES

Pepper moves up in futures trade on spot demand

Pepper prices moved up by Rs 115 to Rs 34,575 per quintal

in futures trading today on speculative buying, tracking a

firm trend at spot market on pick up in demand. However,

expectations of higher output and weak export demand

capped the gain. At the National Commodity and

Derivatives Exchange, pepper for delivery in February

moved up by Rs 115, or 0.33 per cent to Rs 34,575 per

quintal with an open interest of 2872 lots. In a similar

fashion, the spice for delivery in March gained Rs 50 or

0.15 per cent to Rs 33,875 per quintal in 699 lots. Market

analysts said speculators enlarging their positions on pick

up in spot markets demand mainly led to rise in pepper

prices at futures trade.

EXPERT OPINION

STOCK S1 S2 R1 R2

CHANA 3,842 3,745 4,004 4,069

RM SEED 3,496 3,469 3,563 3,603

SOYABEAN 3,095 3,031 3,279 3,399

JEERA 14,198 14,016 14,703 15,026

TRADING TIP:

BUY CHANA JAN

ABOVE 3972

TGTS 4022/4092

SL 3912

SELL SOYBEAN

FEB BELOW

3151 TGTS

3101/3031

SL 3211

PRODUCT NAME

EXP DATE OPEN HIGH LOW CLOSE LTP CHG PERCENTAGE CHANGE

CHANA 7/19/2012 4556 4573 4525 4560 4532 -28 -0.61

CHILLI 7/19/2012 5060 5060 5018 5120 5018 -102 -1.99

GUR 7/19/2012 1188 1188 1178 1183.5 1178 -5.5 -0.46

JEERA 7/19/2012 14955 14960 14650 15052.5 14800 -252.5 -1.68

KAPAS 7/19/2012 1044 1053 1035 1049 1041 -8 -0.76

PEPPER 7/19/2012 42300 42555 42250 42390 42435 45 0.11

REF SOYA 7/19/2012 780.5 783.6 777.4 782.85 781.3 -1.55 -0.2

SOY BEAN 7/19/2012 4309 4330 4265.5 4303 4315 12 0.28

TURMERIC 7/19/2012 4600 4676 4518 4664 4540 -124 -2.66

WHEAT 7/19/2012 1251 1282 1251 1246 1282 36 2.89

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WEEKLY MARKET ANALYSIS

Pepper

Pepper futures rose on Friday tracking firm spot cues where winter demand supported prices

while lesser stocks also aided the upside. As of 0950 GMT, the most-active February pepper

contract on the National Commodity and Derivatives Exchange (NCDEX) was up 1.52 percent

at Rs 35,440 per 100 kg.Winter buying is supporting prices but higher output expectations

are seen capping a sharp upside, Angel Commodities said in a research note. Spot pepper

rose Rs 172 to Rs 38,117 per 100 kg in Kochi, a key market in Kerala. Pepper output is likely to

be higher next year due to expectations of good yields in the top producing states of Kerala

and Karnataka

Chilli

Red chilli offered unchanged at Guntur market of Andhra Pradesh on Friday. Meanwhile, red

chilli futures traded mixed. At Guntur cold storage teza seed variety quoted at Rs 7,000-

7,600 per quintal, Indo-5 at Rs 5,300 -5,800 per quintal, 334 quality at Rs 5,000-5,700 a

quintal, 273 quality at Rs 5,200-5,800 per quintal, byadagi quality at Rs 5,200-5,800 a

quintal, 334 phataki at Rs 2,000-2,500 per quintal. Cold storage red chilli arrival reported

around 45,000-50,000 bags (per bags 40 kg).

Turmeric

Turmeric futures fell on mounting stocks and slack exports though improved demand from

north India and expectations of lower output limited the downside. The April turmeric

contract on the National Commodity and Derivatives Exchange (NCDEX) was down 0.86

percent at Rs 6,716 per 100 kg."Stocks are very high and the new supply season is also

approaching. Prices may come down in the coming days as demand from overseas is not

strong," said Suresh Chowdhary, a trader from Nizamabad, a key market in Andhra Pradesh.

At Nizamabad, spot turmeric rose Rs 15.5 to Rs 5,695.5 per 100 kg.

Jeera

Jeera futures rose on some fresh overseas enquiries and hopes of further improvement in the

coming weeks due to limited stocks with the other producing countries, though higher area

under cultivation restricted the upside. Jeera is a winter crop for which sowing starts from

October. The March jeera contract on the NCDEX was up 0.52 percent at Rs 14,480 per 100

kg."Overseas enquiries are coming for Indian origin jeera as it is the major supplier in the

global market as of now with very limited stocks with other countries. At Unjha, jeera fell Rs

74.5 to Rs 14,594 per 100 kg. India is the world's top producer of jeera, or cumin seed,

followed by Syria and Turkey.

WEEKLY SOYABEAN CHART

ANALYSIS

OPEN: 3322

HIGH: 3335

LOW: 3151

CLOSE: 3160

SOYABEAN LOOKS DOWNWARDS

TREND: BEARISH

STRATEGY: SELL ON RISE

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WEEKLY CHANA CHART

ANALYSIS

OPEN: 3814

HIGH: 3972

LOW: 3810

CLOSE: 3940

CHANA LOOKS UPWARDS

TREND: CONSOLIDATED

STRATEGY: BUY ON DIPS

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