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Daily agri commodity report by epic research limited of 20 feb 2018
1. 20-February-2018
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Agri Commodity Update
2. MONTH OPEN HIGH LOW CLOSE % CHG VOL
TURMERIC
APR 7226 7292 7114 7114 -1.98 2080
INTRADAY
LEVELS
SUPPORT SUPP.1
7054
SUPP. 2
6995
PIVOT
7173
Turmericshort term
trend is bearish and may
continue in coming days.
RESISTANCE
RES. 1
7232
RES. 2
7351
CORIANDER
APR 5531 5585 5450 5469 -0.42 4130
INTRADAY
LEVELS
SUPPORT SUPP.1
5417
SUPP. 2
5366
PIVOT
5501
Coriander short term
trend is bearish and may
continue in coming days.
RESISTANCE
RES. 1
5552
RES. 2
5636
GUARGUM 5MT
MAR 9737 9827 9424 9435 -2.30 28500
INTRADAY
LEVELS
SUPPORT SUPP.1
9297
SUPP. 2
9159
PIVOT
9562
Guargum Short term
trend is bearish and may
continue in coming days.
RESISTANCE
RES. 1
9700
RES. 2
9965
CASTORSEED
- - - - - - -
INTRADAY
LEVELS
SUPPORT SUPP.1
-
SUPP.2
-
PIVOT
-
-
RESISTANC
E
RES. 1
-
RES. 2
-
Market Views
MONTH OPEN HIGH LOW CLOSE % CHG VOL
Agri Commodity Update
3. NCDEX INDICES
Index Value Pre. Close
%
Change
Castorseed 4195 4158 0.89
Chana 3896 3855 1.06
Coriander 5469 5492 -0.42
Guargum5MT 9400 9538 -1.45
Jeera 15445 15850 -2.56
Musterseed 4142 4108 0.83
Soybean 3755 3807 -1.37
Turmeric 7114 7258 -1.98
TOP GAINERS
Symbol Expiry Date Current Price Change Change %
RAPESEED-MUSTARD
SEED
20-04-2018 4142.00 73.00 1.79%
SOY BEAN 20-02-2018 3755.00 30.00 0.81%
REF SOYA OIL 20-02-2018 736.75 1.25 0.17%
TOP LOSERS
Symbol Expiry Date Current Price Change Change %
JEERA 20-03-2018 15445.00 -360.00 -2.28%
V 797 KAPAS 30-04-2018 931.50 -17.00 -1.79%
TURMERIC 20-04-2018 7114.00 -106.00 -1.47%
GUAR SEED 10 MT 20-02-2018 4373.00 -17.00 -0.39%
Most Active Contract
Agri Commodity Update
4. ECONOMIC NEWS
Despite the hype over the farm loan waiver scheme under which BJP
government promised to waive farm loans of up to Rs 1 lakh, the number of
farmers getting the maximum benefit has been just 11% of the total targeted
beneficiaries. Records show that just 10 lakh of the total targeted 86 lakh
debt-ridden farmers in the state could get the maximum benefit of Rs 1 lakh
as envisaged under the scheme that was launched to fulfil BJP’s key poll
promise. According to the data of state agriculture department, over 66 lakh
farmers registered under the scheme till date and around 36 lakh farmers got
loan waiver, out of which just one-fourth could get maximum loan waiver of
Rs 1lakh. The data further reveals that the scheme benefited only 2.5 lakh
farmers in the parched and economically backward Bundelkhand region,
which has often been in news for suicides by debtridden farmers.
A two-day national conference will be held on February 19-20 to discuss
challenges faced by the agriculture sector and chalk out a roadmap to achieve
the government's target to double farmers' income by 2022. The conference,
which will have around 300 participants, has been called by Prime Minister
Narendra Modi, who himself will attend the meeting on the second
day. Participants include farmers, scientists, economists, policy makers,
representatives of farmers and trade associations, corporates and officials
from Centre as well as state governments. NITI Aayog and related union
ministeries would also attend the meet. "We are organising a national
conference 'Agriculture 2022-- Doubling Farmers Income' on February 19-20
at Pusa," Agriculture Secretary S K Pattanayak told reporters here. "In the
conference, we will discuss what are the issues confronting agriculture sector
and what should be done in near, medium and long term.
Tea price has been increasing steadily since from the beginning of this
fiscal and is likely to rise further by the end of March when the first flush
crop starts arriving in the market. Drop in production of North Indian Tea
and a steady export demand from markets such as Kenya paved way for
Tea price to increase by Rs 12-14 a kg since the beginning of FY-18. Carry
forward stock is low, and its estimated that the opening level will be strong
and could be higher by around Rs 20 a kg. Average selling price of
orthodox tea is ruling at around Rs 167.28 a kg, higher by nearly Rs 14.88 a
kg compared to the same period last year.
Uttar Pradesh has produced a record 62.71 lakh tonnes of Sugar during
the current Sugarcane crushing season with a recovery of 10.35 per cent -
the highest in recent years. A government spokesman said in a statement
that the mills also paid the highest ever amount of Rs 12444.22 crore to
cane farmers till date. As per details, all 119 Sugar mills were functioning
in the state while during the last crushing season 116 mills were in
operation till this time. Cane crushed till date was 606.33 lakh tons against
509.53 lakh tons during the previous crushing season while payment made
so far this season stood at Rs 124,44.22 crore against Rs 100,54.13 crore
made in the last season.
India's Wheat output this year would be around 98 million tonnes, very
similar to what the country produced last year, a top Agricultural Ministry
official said. There was only a marginal decrease in the total area under
wheat crop this year as compared to the actual area planted last year.
Hence, the expectation is that output would be very similar to last year’s 98
mt, he said. However, he added, it was too early to make an assessment as
the grains were still being formed. “We will have a better idea after March
15,” he said. Currently, the standing crop in Punjab, Haryana, Rajasthan
and Western Uttar Pradesh look normal. If there are no adverse weather
conditions, the output would be good, the official said.
Commodities In News
Agri Commodity Update
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Daily Agri Update