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1. DAILY AGRI COMMODITY REPORT
31 May 2016
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2. Market Views
2
MONTH OPEN HIGH LOW CLOSE % CHG VOL MONTH OPEN HIGH LOW CLOSE % CHG VOL
TURMERIC
JUNE 8010 8060 7898 7950 -0.70 9165
INTRADAY
LEVELS
SUPPORT SUPP. 1
7879
SUPP. 2
7807
PIVOT
7969
Turmeric short term
trend is bearish and
May continue in
coming days.RESISTAN
CE
RES. 1
8041
RES. 2
8131
CORIANDER
JUNE 6874 6915 6802 6868 -0.48 3010
INTRADAY
LEVELS
SUPPORT SUPP.1
6808
SUPP. 2
6749
PIVOT
6862
Coriander short term
trend is bearish and May
continue in coming
days.RESISTAN
CE
RES. 1
6921
RES. 2
6975
GUARGUM
JUNE 5350 5400 5190 5270 -1.50 20994
INTRADAY
LEVELS
SUPPORT SUPP. 1
5173
SUPP. 2
5077
PIVOT
5287
Guargum short term
trend is bearish and
May continue in
coming days.RESISTAN
CE
RES. 1
5383
RES. 2
5497
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 656 6095 -0.64
CORIANDER 6868 6901 -0.48
GUARGUM 5270 5350 -1.50
JEERA 16380 16210 +1.05
MUSTARD
SEED
4422 4423 -0.02
SOYABEAN 3871 3940 -1.75
TURMERIC 7950 8006 -0.70
TOP LOSERS
SYMBOL EXPIRY DATE
CURRENT
PRICE
CHANGE
CHANGE
%
SOY BEAN 20-06-2016 3871.00 -68.00 -1.73%
TURMERIC 20-06-2016 7950.00 -114.00 -1.41%
CHANA 20-06-2016 6056.00 -49.00 -0.80%
BARLEY 20-06-2016 1545.00 -9.00 -0.58%
TOP GAINERS
SYMBOL EXPIRY DATE
CURRENT
PRICE
CHANGE
CHANGE
%
GUAR GUM 20-06-2016 5270.00 110.00 2.13%
JEERA 20-06-2016 16380.00 285.00 1.77%

4. Commodities In News
4
ECONOMIC NEWS
Exceeding the target, the Centre has procured 20,000 tonnes of onion
from farmers to create a buffer stock to be utilised for market intervention
in the event of price rise during a lean season.Last year, the government
had procured 8,000 tonnes of onion but it was done after the retail prices
had gone through the roof to about Rs 80-90/kg.The government, however,
this year decided to buy on time and set a target to procure 15,000 tonnes
of onion from the rabi crop of the 2015-16 crop year (July-June)."Onion
procurement has touched 20,000 tonnes so far, higher than the set target,"
Food and Consumer Affairs Minister Ram Vilas Paswan said.Nodal
agencies Nafed and SFAC have procured onion at below Rs 10 per kg,
which will be supplied in the market during the lean season (August-
September), he said.Besides onion, Paswan said, the government has
procured 40,000 tonnes of rabi pulses , especially gram and masoor.The
government has set a procurement target of 1,00,000 tonnes of pulses from
rabi crop, comprising 80,000 tonnes of chana and 20,000 tonnes of masoor
for creating a buffer stock.The procurement of rabi pulses is still going
on.Onion and pulses are being procured from the Price Stabilisation Fund
(PSF), which has a corpus of Rs 900 crore for this fiscal to support the
market interventions. Onion production is estimated to be increased to
20.33 million tonnes in 2015-16 from 18.92 million tonnes in the previous
year, as per government data.Whereas, pulses output is estimated to be
down at 17.06 million tonnes, much lower than the demand of 23.62
million tonnes. The gap is met through imports.At present, retail onion
prices are ruling at Rs 15-25/kg and pulses in the range of Rs 85-185 per kg
in most parts of the country, showed government data. Spices Board will
launch its second e-auction centre at Bodinayakanur , known as cardamom
city, in Tamil Nadu's Theni district, to ensure remunerative prices to
cardamom farmers.Spices Board Chairman A Jayathilak will inaugurate the
centre tomorrow, according to a release here.The new auction centre,
constructed on two acres of land at the Board's premises in Bodinayakanur,
is equipped with all the modern facilities to assist the cardamom trade.
India's sugar arrears has come down remarkably over the past two
years, the government has claimed. Starting with a legacy of arrears of
Rs.14,000 cr pertaining to many years, and a severe liquidity stress in
the sector, the policy interventions have borne results. The cane arrears
relating to Sugar season 14-15 has reduced to about Rs.780 cr. Out of
this UP accounts for just Rs 191 Cr, as per govt notification.For the
current year (Sugar season 15-16) the arrears are only about Rs.9361 cr
compared to arrears of Rs.22,000 cr last year. Out of this UP accounts
for Rs. 2855 cr. The State of UP has allowed a two stage payment of
FRP. Till end June, mills are expected to pay cane dues based on FRP
(Rs.230/qtl), according to which arrears are presently Rs.2,855 cr.
However, July onwards the mills will have to pay dues based on State
Advised Prices (Rs.280/qtl) on the basis of which the dues come to
Rs.5,795 cr.“A new policy was designed by the Central Govt. to
address this extra-ordinary situation. In the first step, a soft loan was
notified with a one year moratorium on interest payments.
Turmeric futures (June) is expected to trade with a bearish bias & can
test 7900-7850 levels. The sentiments of the yellow spice at the spot
markets are bearish. Presently, the demand for turmeric is thin as major
buyers are sidelined anticipating current lower rates to be prevailed in
the long term amid sufficient stocks. The consumption of turmeric
during the current season is on the lower side, hence a huge stocks are
available in the domestic markets. Secondly, the upcountry exports
demand is poor since last one month. At the Erode Turmeric Merchants
Association, the finger turmeric was sold at Rs.7,799-9,087 a quintal;
the root variety Rs.7,755-8,529.Prediction of a good monsoon after two
consecutive years of sub-optimal rainfall backs the improved outlook in
the current fiscal. According to the survey results, agriculture sector is
expected to record a median growth of 2.8% in 2016-17, with a
minimum and maximum range of 1.6% and 3.5% respectively.

5. 5
Fundamental Watch : Cotton
COTTON PRICES AT KEY SPOT MARKETNational Market Update
The Telangana government has advised farmers to reduce the cultivation of
cotton this season as the producers are not getting remunerative price for the
crop. They have been advised to go other crops like pulses and soybean
instead of cotton. According to government sources, the area under cotton in
2015 -16 was 17.73 lakh hectares.
Farmers in North India are shifting to other crops mainly pulses amid huge
loss made by the farmers in the previous year due to white fly pest attack and
leaf curl virus. Sowing of cotton has begun in North India. In Punjab the total
acreage under cotton is likely to be around 320,000 hectares compared to
540,000 hectares in the previous season. In Haryana, acreage is likely to
decline by 20 per cent compared to 583,000 hectares in the previous season
according to officials.
The Cotton Association of India (CAI) has estimated India’s cotton output in
2015 -16 at 341.50 lakh bales (of 170 kg each), around 10.8 per cent lower
compared to the previous year’s production of 383 lakh bales. The projected
balance sheet drawn by the CAI for 2015-16 pegs total supply at 429.10 lakh
bales, while domestic consumption is seen at 305 lakh bales, thus leaving an
available surplus of 124.10 lakh bales.
Department of Agriculture, Ministry of Agriculture (MoA) in its second
advance estimates, has revised the cotton production estimates downwardly
for the season 2015-16 at 306.92 lakh bales (of 170 kg each). For the season
2014-15, the estimate was 346.23 lakh bales according to the first advance
estimates for the season.
CENTER 30-May-15 28-May-15 Change
RAJKOT 5375 5265 +110
BHIWANI 5100 5100 UNCH
ADAMPUR 5400 5325 +75
AHMEDABAD 5350 5250 +100
GONDAL 5255 5210 +45
GUNTUR NA NA -
RAICHUR 5430 5400 +30

6. Technical Outlook
6
SELL CORIANDER JUN BELOW 6752 TARGET 6707 6607 SL
ABOVE 6817
SELL GUARGUM JUN BELOW 5190 TARGET 5140 5070 SL
ABOVE 5250
SELL TURMERIC JUN BELOW 7962 TARGET 7918 7858 SL
ABOVE 8022

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