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1. DAILY AGRI COMMODITY REPORT
25 July 2016
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2. Market Views
2
MONTH OPEN HIGH LOW CLOSE % CHG VOL MONTH OPEN HIGH LOW CLOSE % CHG VOL
TURMERIC
AUG 8184 8274 8150 8180 +0.81 -
INTRADAY
LEVELS
SUPPORT SUPP. 1
8129
SUPP. 2
8077
PIVOT
8201
Turmeric short term
trend is bearish and
May continue in
coming days.RESISTAN
CE
RES. 1
8253
RES. 2
8325
CORIANDER
AUG 7820 7966 7800 7827 +1.20 -
INTRADAY
LEVELS
SUPPORT SUPP.1
7763
SUPP. 2
7698
PIVOT
7866
Coriander short term
trend is bearish and May
continue in coming
days.RESISTAN
CE
RES. 1
7929
RES. 2
8030
GUARGUM
OCT 7200 7320 7110 7130 +1.13 -
INTRADAY
LEVELS
SUPPORT SUPP. 1
7053
SUPP. 2
6977
PIVOT
7187
Guargum short term
trend is bearish and
May continue in
coming days.RESISTAN
CE
RES. 1
7263
RES. 2
7397
CASTORSEED
- - - - - - -
INTRADAY
LEVELS
SUPPORT SUPP. 1
-
SUPP. 2
-
PIVOT
-
-
RESISTAN
CE
RES. 1
-
RES. 2
-

3. Most Active Contract
3
NCDEX INDICES
Index Value
Pre.
Close
%
Change
CASTORSEED - - -
CHANA 8470 8650 -2.80
CORIANDER 7670 7647 +0.30
GUARGUM 7370 7280 +1.24
JEERA 19930 19200 +3.80
MUSTARD
SEED
4973 4953 +0.40
SOYABEAN 3689 3729 -1.07
TURMERIC 8292 8288 +0.05
TOP GAINERS
SYMBOL EXPIRY DATE
CURRENT
PRICE
CHANGE
CHANGE
%
JEERA 19-08-2016 19930.00 735.00 3.83%
GUAR GUM 20-10-2016 7370.00 60.00 0.82%
CORIANDER 19-08-2016 7670.00 32.00 0.42%
TURMERIC 19-08-2016 8292.00 4.00 0.05%
TOP LOSERS
SYMBOL EXPIRY DATE
CURRENT
PRICE
CHANGE
CHANGE
%
CHANA 19-08-2016 8470.00 -180.00 -2.08%
SOY BEAN 20-10-2016 3689.00 -41.00 -1.10%

4. Commodities In News
4
ECONOMIC NEWS
FCI reaches only 40% of rabi target In its first attempt to
procure pulses from mandis (wholesale markets), government-owned Food
Corporation of India (FCI) was 60 per cent short of its target for this
season. Faced with a sudden spike in prices early this year, the government
had in March allowed FCI to commence procurement of pulses. The target
fixed for chana dal (chickpea) was 40,000 tonnes and masoor (split red
lentil) at 10,000 tonnes. It could buy 15,200 tonnes of chana and 4,335
tonnes of masoor. This was the first time FCI entered into pulses
procurement at the market-driven price. Normally, it conducts MSP
(minimum support price) operations, buying grain at the minimum assured
price set by the government. To intervene in case of sharp spike in prices,
the government decided in November 2015 to build a buffer stock of
350,000 tonnes of pulses, comprising 150,000 tonnes of tur (split red gram)
and urad (split black gram) and 200,000 tonnes of chana dal and masoor.
FCI closed procurement last Friday for the rabi harvesting season.
An FCI official cited three basic problems in the target. The government
allowed FCI to start procurement only in March, when half the rabi
harvesting season was over. Farmers with early harvests had already
offloaded into the mandis and traders built their inventory by the time FCI
began. “We started procurement two months late,” said the official.
Second, farmers preferred to receive cash, which only traders
and arhatiyas (authorised middlemen) can offer. FCI offers cheques, which
many farmers did not like. So, they sold pulses to traders even at a one to
two per cent discount to the market price offered by FCI. Many had also
already taken money from the arhatiyas or traders, with their output as
collateral; they had to sell to only the latter. According to official sources,
the government is considering extending the pulses procurement to the
kharif harvesting season. Urad harvesting starts in September. “For this,
however, the government should allow us to start procurement in advance,”
said the official. Apart from FCI, the government has also asked two of its
other agencies, Nafed and the Small Farmers Agribusiness Consortium, to
procure pulses in major producing states.
Jeera prices set to touch new high on short supply, high demand The
price of jeera (cumin) has reached a historic high of Rs 3,800 per 20 kg
at the Unjha mandi (wholesale market) in Gujarat's Mehsana district on
tight supply, coupled with good export and domestic demand. Traders
say the price might continue rising for some months. As against a
demand of about 12,000 bags (55 kg each), the current supply is around
5,000 bags at Unjha, the biggest jeera mandi in Asia. In two months,
the price has gone up by Rs 400-500 per 20-kg bag.
“China and Bangladesh have bought jeera heavily so far and export
demand is likely to continue to witness an upside, as other producing
countries are not well placed for supplies. On the other hand, domestic
supply is also tight, which lifted up prices, and it might move up
further,” said Vimal Patel, owner of Ambalal Lalludas from Unjha. By
sector estimates, China imported 18,000-20,000 tonnes in April-May
from India. Exports during April-June were about 45,000 tonnes,
sharply up from 27,000 tonnes in the corresponding period last year.
Patel said, “Looking at the current scenario of supply and stocks, if
demand continues in August, the price might touch Rs 4,000 per 20-kg.
Because of good prices in the past three months, almost 80 per cent of
the total production has already arrived in the market.”
Chana down 2.8% on profit booking Continuing its losing streak for
the second straight day,chana prices dropped further by 2.84% to Rs
8,550 per quintal in futures trade today as speculators indulged in
booking profits at current levels. Besides, an improvement in supplies
too weighed on chana prices. At the National Commodity and
Derivatives Exchange, chana for delivery in September drifted lower
by Rs 250 or 2.84% to Rs 8,550 per quintal with an open interest of
270 lots. Analysts said apart from profit-booking, adequate stocks on
improved supplies in the physical market after government's measures
to curb rising prices and fall in demand kept chana prices lower at
futures trade.

5. Technical Outlook
5
SELL CORIANDER AUG BELOW 7800 TARGET 7755 7655 SL
ABOVE 7865
SELL GUARGUM OCT BELOW 7110 TARGET 7060 6990 SL
ABOVE 7170
SELL TURMERIC AUG BELOW 8150 TARGET 8106 8046 SL
ABOVE 8210

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