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Weekly agri commodity report by epic research limited of 19 june 2017
1. WEEKLY AGRI COMMODITY REPORT
19 JUNE 2017
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2. Weekly Wrap Up
2
MONTH OPEN HIGH LOW CLOSE % CHG VOL MONTH OPEN HIGH LOW CLOSE % CHG VOL
CORIANDER
MAY 4629 5089 4610 4920 5.91 11950
INTRADAY
LEVELS
SUPPORT SUPP.1
4657
SUPP. 2
4394
PIVOT
4873
Coriander short term
trend is bearish and may
continue in coming days.
RESISTAN
CE
RES. 1
5136
RES. 2
5352
CASTORSEED
- - - - - - -
INTRADAY
LEVELS
SUPPORT SUPP. 1
-
SUPP. 2
-
PIVOT
-
-
RESISTAN
CE
RES. 1
-
RES. 2
-
TURMERIC
MAY 5490 5740 5460 5682 3.37 2685
INTRADAY
LEVELS
SUPPORT SUPP. 1
5514
SUPP. 2
5347
PIVOT
5627
Turmeric short term
trend is bearish and may
continue in coming days.
RESISTAN
CE
RES. 1
5794
RES. 2
5907
GUARGUM
MAY 6972 7576 6955 7475 6.72 7776
INTRADAY
LEVELS
SUPPORT SUPP. 1
7094
SUPP. 2
6714
PIVOT
7335
Guargum Short term
trend is bearish and
may continue in coming
days.RESISTAN
CE
RES. 1
7715
RES. 2
7956
4. Commodities In News
4
ECONOMIC NEWS
➢ As demands for farm-loan waivers grow across Punjab, Haryana, Tamil
Nadu, Gujarat, Madhya Pradesh, and Karnataka -- after Uttar Pradesh
andMaharashtra wrote off loans worth Rs 36,359 crore and Rs 30,000
crore, respectively -- India faces a cumulativeloan waiver of Rs 3.1 lakh
crore, or 2.6 per cent of its GDP in 2016-17. A waiver of this scale could
pay for the 2017 rural roads budget 16 times over or pay for 443,000
warehouses or increase India's irrigation potential by 55 per cent more than
the achievements of the last 60 years. While such waivers could provide
succour for 32.8 million indebted farmers, an IndiaSpend analysis of the
impact of previous farm-loan waivers indicates such bailouts are band-aids
of uncertain efficacy and do not address a deeper malaise gripping the
agrarian economy. Over nine years to March 2017, the central and state
governments waived Rs 88,988 crore in loans to 48.6 million farmers. The
nationwide Rs 52,000 crore loan-waiver announced by the United
Progressive Alliance (UPA) in 2008 occupies the bulk of this figure.
➢ In the longer run, you do need that (farm) workers come out of
agriculture into manufacturing and services jobs. If you don’t want to
leave this population in that (poor) state," reports had quoted economist
Arvind Panagariya as saying within months of taking over as government
think tank NITI Aayog’s deputy chairman. That’s rosy when those sectors
are doing well and the job market is booming as happened in 2005-2008.
But since then the two sectors have hardly fired. The finance ministry’s
economic survey revealed private investments shrank by 0.2% in 2016-17
compared to a growth of 3.9% the previous year. “Raising manufacturing
to 25% (of GDP, from 17% now) is the critical challenge," says N
Bhanumurthy, professor at National Institute of Public Finance and Policy.
Government initiatives such as Make in India and Startup India to push
manufacturing have so far not made a significant impact on national output
and job creation. Moreover, industries are investing heavily in automation,
requiring fewer workers.
➢ Turmeric futures showed mixed trend on NCDEX as the June contracts
traded lower on reports of good rains in turmeric growing areas, while July
contracts traded higher on pick-up in demand from stockists and overseas
enquiries. The contract for June delivery was trading at Rs 5700.00, down
by 0.35% or Rs 20.00 from its previous closing of Rs 5720.00. The open
interest of the contract stood at 920 lots. The contract for July delivery was
trading at Rs 5806.00, up by 0.90% or Rs 52.00 from its previous closing of
Rs 5754.00. The open interest of the contract stood at 15855 lots on
NCDEX.
➢ Jeera futures edged higher on NCDEX on the back of pick-up in demand
from stockists and overseas enquiries. Furthermore, tight stocks position
following restricted arrivals from the growing regions too fuelled the
uptrend. The contract for June delivery was trading at Rs 18825.00, up by
1.35% or Rs 250.00 from its previous closing of Rs 18575.00. The open
interest of the contract stood at 207 lots. The contract for July delivery was
trading at Rs 18860.00, up by 1.37% or Rs 255.00 from its previous closing
of Rs 18605.00. The open interest of the contract stood at 13161 lots on
NCDEX.
➢ Coriander futures surged on NCDEX as participants enlarged their
positions on the back of rising domestic as well as export demand in the spot
market. Besides, limited stock positions following restricted arrivals from
major growing regions also fuelled the uptrend. The contract for June
delivery was trading at Rs 5063.00, up by 2.41% or Rs 119.00 from its
previous closing of Rs 4944.00. The open interest of the contract stood at
1670 lots. The contract for July delivery was trading at Rs 5165.00, up by
2.22% or Rs 112.00 from its previous closing of Rs 5053.00. The open
interest of the contract stood at 44700 lots on NCDEX.
5. 5
NEWS RECAP
COMMODITY HEADLINES
➢ Hybrid seed prices cut by 10 per cent for 2017-18 kharif season
➢ Government releases Rs 700 crore to Nafed for buying pulses at MSP
➢ Is India faced with a 3.1 lakh crore farm-loan waiver? And will it help?
➢ A good monsoon is little comfort for despairing Indian farmers
➢ Government must look at policy options that go beyond loan write-offs to address farmers'
woes
➢ Why are farmers up in arms? Here's a quick primer to a deepening crisis
➢ Chandrababu Naidu ropes in noted agriculturist to promote organic farming in AP
➢ Palm oil import rises 21.58 per cent to 7,99,346 tonnes in May
➢ Indian spices export peaks to a new high
➢ Branded curry masalas become cheaper
➢ Cabinet gives ex-post facto nod to India-Palestine agriculture pact
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Lovelesh
Sharma
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Sharma
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o=Personal
Reason: I am the author of this
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Date: 2017-06-16 22:57+05:30