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1. WEEKLY AGRI COMMODITY REPORT
30 MAY 2016
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2. Weekly Wrap Up
2
MONTH OPEN HIGH LOW CLOSE % CHG VOL MONTH OPEN HIGH LOW CLOSE % CHG VOL
CORIANDER
JUNE 7126 7225 6718 6901 -2.91 37940
INTRADAY
LEVELS
SUPPORT SUPP.1
6671
SUPP. 2
6441
PIVOT
6948
Coriander short term
trend is bearish and
may continue in coming
days.RESISTAN
CE
RES. 1
7178
RES. 2
7455
CASTORSEED
- - - - - - -
INTRADAY
LEVELS
SUPPORT SUPP. 1
-
SUPP. 2
-
PIVOT
-
-
RESISTAN
CE
RES. 1
-
RES. 2
-
TURMERIC
JUNE 7990 8198 7846 8006 -6.82 39285
INTRADAY
LEVELS
SUPPORT SUPP. 1
7835
SUPP. 2
7665
PIVOT
8017
Turmeric short term
trend is bearish and
may continue in coming
days.RESISTAN
CE
RES. 1
8187
RES. 2
8369
GUARGUM
JUNE 5140 5350 5300 5350 +4.90 63603
INTRADAY
LEVELS
SUPPORT SUPP. 1
5317
SUPP. 2
5283
PIVOT
5333
Guargum Short term
trend is bearish and
may continue in
coming days.RESISTAN
CE
RES. 1
5367
RES. 2
5383
4. Commodities In News
4
ECONOMIC NEWS
The FAO of United Nations at the 22nd session of the Intergovernmental
Group on tea held at Naivasha, Kenya from 25th-27th May released its
report of the Working Group on Tea on Climate Change. India chairs the
working group on Climate Change on tea supported by Sri Lanka, China
and Kenya.The report states that as per advanced modeling studies
conducted by using general circulation models at TRA Tocklai, has shown
that tea growing regions in Kenya, Sri Lanka and NE India are quite
vulnerable to climate change and the adaptation measures need to be
adopted. The current adaptation measures need to be fine-tuned further
because of modelling studies to include adaptation measures on a macro as
well as micro scale - downscaling to tea garden scale level.The results of
these modeling studies should be translated by clustering gardens and
small holders in a region and adaptation measures should be adopted in a
region by all stakeholders together.In the report released authored by Dr
RM Bhagat of India, Dr M A Wijeratne of Sri Lanka, Dr John Bore of
Kenya and Dr Wenyan Han from China gives a roadmap for adaptation
measures for the tea industry in these countries.Some of the key
suggestions are - development of cultivars suitable for drought and water
logging tolerance, more reliance on seed based high yielding quality
cultivars by major TRIs, improving soil properties.The report suggests that
fertilizers are indispensable for higher yield, hence integrated nutrient
management should be done. More emphasis on water conservation in situ
and adequate shade, shelter belts in tea gardens, while taking all possible
measure to create humid conditions in the gardens to prolong the onset of
drought, the report adds.Capacity building of individuals and institutions,
creating more awareness to stakeholders specifically the small tea growers,
the report says.The 22nd session was attended by more than 20 tea
producer and consuming countries. The Indian delegation was led by Shri
Santosh Kumar Sarangi, Chairman, Tea Board of India and included major
stakeholders of the Indian tea industry numbering 16.
Crude palm Oil on MCX settled up by on account of restricted supplies
from producing belts amid pick up in domestic demand. Prices of palm oil
were also up as Malaysia palm oil exports during May 1-25 jumped 8.46%
compared to a month earlier on improved demand from China, European
Union and India & Subcontinent, data showed. Malaysia palm oil exports
jumped to 965,253 tons during May 1-25 compared to 889,944 tons for the
same period a month ago, Dow Jones reported citing data from Intertek, a
private surveyor.Strong demand ahead of Ramadan, a 30-day festival of
Muslims which will begin from June this year, also supported prices. Output
of oil in Malaysia climbed 6.7% to 1.30 million tons in April end compared
to 1.21 million tons a month earlier, a data released by the Malaysian Palm
Oil Board showed. The Malaysian Palm Oil Council today predicted that
palm oil prices would firm up over the next five-six months and that
productivity is likely to be affected by about 10 per cent due to the El Nino
impact on its output and other oilseeds.
Ref Soya oil on NCDEX settled up by 0.2% at 640.75 tracking firm spot
demand as government is considering increasing import duty for refine oil.
Prices also seen supported taking cues from other edible oil complexes and
higher demand for festive season. Prices were also supported by higher
demand in domestic market from oil crusher ahead of festival of Ramadan
due in June. As per the latest report from United States Department of
Agriculture ( USDA), Global oilseed production for 2016/17 is projected at
533.8 million tons, up 2.1 percent from 2015/16.Global soybean production
is projected at 324.2 million tons, up 8.3 million with gains for India, Brazil,
Ukraine, and Argentina, partly offset by lower U.S. production.The Brazil
soybean crop is projected at103.0 million tons, up 4.0 million on higher area
and yields. According to Solvent Extractors Association (SEA), India
imported 12.30 lakh tons of edible oil in April 2016 compared to 10.98 lakh
tons in April 2015, higher by 12 percent y-o-y. Palm oil imports rose
marginally to 7.30 lakh tons in April compared to 7.25 lakh tons in April
2015.
5. 5
NEWS RECAP
COMMODITY HEADLINES
Above normal monsoon may add to farmers’ foes.
Sugar millers may lure cane growers with higher pay.
Adverse climatic conditions to have negative impact on tea cultivation in North-East India: Report.
India can achieve 50 million tones maize output by 2025 to meet demand.
Fresh rain raises hope on Darjeeling tea production.
Govt aims record 270.1-mn tonne foodgrains output in 2016-17.
India's soybean area seen falling as farmers switch to pulses.
Biotechnology firms upset with Bt Cotton royalty rates order.
Nationalised banks in Maharashtra lag behind their crop loan targets, says Kishor Tiwari.
Centre draws five-year plan to increase pulse production to 24 million tonnes by 2021.
Kharif sowing gets delayed as North sweats under heat.
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