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Epic research weekly agri report 27th to 31st july 2015
1. WEEKLY AGRI COMMODITY REPORT
27 JULY 2015
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2. Weekly Wrap Up
2
MONTH OPEN HIGH LOW CLOSE % CHG VOL MONTH OPEN HIGH LOW CLOSE % CHG VOL
CORIANDER
AUG 11721 12234 11710 11968 +1.69 51160
INTRADAY
LEVELS
SUPPORT SUPP.1
11707
SUPP. 2
11445
PIVOT
11971
Coriander short term
trend is bearish and
may continue in coming
days.RESISTAN
CE
RES. 1
12231
RES. 2
12495
CASTORSEED
AUG 4003 4038 3886 3944 +0.48 203770
INTRADAY
LEVELS
SUPPORT SUPP. 1
3874
SUPP. 2
3804
PIVOT
3956
Castorseed short term
trend is bearish and
may continue in
coming days.RESISTAN
CE
RES. 1
4026
RES. 2
4108
TURMERIC
AUG 7360 7578 6822 6860 -6.87 51650
INTRADAY
LEVELS
SUPPORT SUPP. 1
6595
SUPP. 2
6331
PIVOT
7087
Turmeric short term
trend is bullish and may
continue in coming
days.RESISTAN
CE
RES. 1
7351
RES. 2
7843
GUARGUM
OCT 8650 9330 8350 8650 -5.36 45860
INTRADAY
LEVELS
SUPPORT SUPP. 1
8223
SUPP. 2
7797
PIVOT
8777
Guargum Short term
trend is bullish and
may continue in
coming days.RESISTAN
CE
RES. 1
9203
RES. 2
9757
4. Commodities In News
4
ECONOMIC NEWS
Wholesale onion price at Lasalgoan in Maharashtra, Asia's biggest
market for this kitchen staple, has shot up by 70 per cent in just about a
month, hitting its highest level for the month of July in the past two
decades.Prices in July usually tend to be higher because the supply goes
down and the onset of monsoon season also affects the onion quality.The
onion was being sold at Rs 25.50 per kg in Lasalgoan market today, while
the retail prices are in the range of Rs 35-40 per kg here in the national
capital. Lasalgoan accounts for a bulk of the supply in various parts of the
country, including Delhi region.The prices have shot up by 70 per cent
since June 27 when the government increased the minimum export price
(MEP) for the commodity. Spiralling prices could further fuel the food
inflation in the coming weeks.As per the data maintained by the Nasik-
based National Horticultural Research and Development Foundation
(NHRDF), the average price at Lasalgaon stood at Rs 15 per kg last
month.A sharp increase is being seen in the retail markets in most parts of
the country.The prices in both wholesale and retail markets have been
rising in recent weeks due to sluggish supply of good quality onion in the
wake of the crop getting damaged in storage across major growing states,
including Maharashtra.Apprehending further increase in onion prices, the
government has already increased MEP of the commodity to USD 425 per
tonne and and extended by another year the ban on hoarding of the key
kitchen staple beyond a prescribed limit.The Centre is also planning to
import onion, though in limited quantity, to boost the domestic
availability.Much of the Rabi (winter) onion crop is stored to meet the
demand in lean period. But this year, most of the onion kept in storage is
of poor quality as the Rabi crop got damaged due to unseasonal rains in
early March.According to agri experts, high storage losses have reduced
availability of onion in the market and put pressure on prices and this
situation will continue till the arrival of new kharif crop from mid-
September. To check prices, the government had imported a small quantity
of onion last year too.It had also eased fumigation norms for smooth
shipment of onions.
Turmeric settled down due to favourable rainfall in major turmeric
growing states along with limited export demand in local mandies. As per
the market sources, favourable rainfall in major turmeric growing states such
as Maharashtra and Karnataka from last couple of days will encourage
turmeric sowing for the new season.Traders already stated that better price
realization in the current year will promote turmeric crop across all the major
producing states. The sources added that not much export enquiries have
been reported in turmeric market after Ramadan. Tamilnadu is witnessing
some shortfall in the rains and traders are not likely to be in a hurry of
offload their stocks. However, excess rains during the vegetative and
harvesting may adversely affect the production and quality. Turmeric sowing
area reported high in Maharashtra and Tamil Nadu state during the current
sowing period.As per Spice board of India, the export for the 2014-15 is
86,000 tonnes worth Rs 744.35. At Warangal market total arrivals are at 250
bags, higher by 50 bags as against previous day.
Jeera settled down due to surge in supply from producing regions in the
midst of decline in the export demand. The market participants have
meanwhile off load the buying position at current levels. There is
expectation of revival of export demand on short supply but quality issues
may not be positive for prices. Meanwhile, there are reports that, cumin crop
in China damaged due to heavy rains.Still the quality issues and supply
concerns from the production states keep the prices volatile. As per third
advance estimate of Gujarat State, production is expected at 1.58 lakh tonnes
in 2014-15, which is 54.3 per cent lower, compared to last years’ production
of 3.46 lakh tonnes. There is concern over production due to untimely
rainfall in March in Gujarat and Rajasthan. As per Government data, 2.41
lakh hectare of cumin crop is damaged in Rajasthan.According to latest spice
board press release, cumin export is stood at 155,500 tonnes for 2014-15
period and earned foreign exchange worth Rs 1,838.20 crore while in 2013-
14, the figures stood at 121,500 tonnes valued at Rs 1,600 crore.
5. 5
NEWS RECAP
COMMODITY HEADLINES
Government to soon launch 'more farmer friendly' crop insurance scheme.
2015-16 to be sixth consecutive year of excess sugar production for India.
Retail prices of pulses jump up to 41% in last one year.
Wholesale onion price soars 70% in a month.
Monsoon's good run raises prospects of bigger Kharif harvest.
Rural agri-based technology must for country to prosper: APJ Abdul Kalam.
Government proposes direct transfer of fertiliser subsidy to farmers.
Government to check unbalanced use of fertilisers.
Government sees record kharif pulses, oilseeds, coarse cereal output.
Good monsoon spells good news for kharif, sown area up 62% from last year.
All India Coordinated Project for Special Research in Food Quality and Nutrition for TNAU.
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