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Epic research daily agri report 09 jan 2015
1. DAILY AGRI COMMODITY REPORT
09 January 2015
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2. Market Views
2
MONTH OPEN HIGH LOW CLOSE % CHG VOL MONTH OPEN HIGH LOW CLOSE % CHG VOL
DHANIYA
APR 8330 8395 8201 8225 -1.08 12210
INTRADAY
LEVELS
SUPPORT SUPP.1
8152
SUPP. 2
8080
PIVOT
8274
Dhaniya short term
trend is down, further
more downside is
expected in comimg
days.
RESISTAN
CE
RES. 1
8346
RES. 2
8468
CASTORSEED
FEB 4770 4790 4729 4751 -0.57 21580
INTRADAY
LEVELS
SUPPORT SUPP. 1
4723
SUPP. 2
4696
PIVOT
4757
Castorseed short term
trend is down, Prices
expected to go down in
coming days.RESISTAN
CE
RES. 1
4784
RES. 2
4818
TURMERIC
APR 9102 9152 8830 8912 -2.64 22650
INTRADAY
LEVELS
SUPPORT SUPP. 1
8777
SUPP. 2
8643
PIVOT
8965
Turmeric short term
trend is up and may
continue in coming
days.RESISTAN
CE
RES. 1
9099
RES. 2
9287
GUARGUM
FEB 12140 12340 12080 12130 +0.41 7267
INTRADAY
LEVELS
SUPPORT SUPP. 1
12027
SUPP. 2
11923
PIVOT
12183
Guargum Short term
trend is Down,
Expecting price may go
Down in coming days.RESISTAN
CE
RES. 1
12287
RES. 2
12443
3. Most Active Contract
3
TOP GAINERS
SYMBOL EXPIRY DATE
CURRENT
PRICE
CHANGE
CHANGE
%
GUR 20-01-2015 1008.00 29.50 3.01%
CORIANDER 20-01-2015 11725.00 140.00 1.21%
RAPESEED-MUSTARD SEED 20-01-2015 4087.00 28.00 0.69%
CHANA 20-01-2015 3476.00 9.00 0.26%
COTTON SEED OIL CAKE
AKOLA
20-01-2015 1436.00 2.00 0.14%
BARLEY 20-01-2015 1643.00 0.50 0.03%
TOP LOSERS
SYMBOL EXPIRY DATE
CURRENT
PRICE
CHANGE
CHANGE
%
TURMERIC 20-04-2015 8912.00 -242.00 -2.64%
JEERA 20-01-2015 14965.00 -175.00 -1.16%
CASTOR SEED NEW 20-01-2015 4825.00 -39.00 -0.80%
SOYABEAN 20-01-2015 3361.00 -22.00 -0.65%
NCDEX INDICES
Index Value
Pre.
Close
%
Change
CASTORSEED 4751 4778 -0.57
CHANA 3532 3536 -0.11
CORIANDER 8225 8315 -1.08
GUARGUM 12130 12080 +0.41
JEERA 15285 15410 -0.81
MUSTARD SEED 3555 3548 +0.20
SOYABEAN 3495 3528 -0.94
TURMERIC 8912 9154 -2.64
4. Commodities In News
4
ECONOMIC NEWS
State-run Cotton Corporation of India (CCI) has procured 41 lakh
bales of cotton so far this year at the minimum support price ( MSP)
from key growing states like Andhra Pradesh and Maharashtra.The
CCI started the procurement operation at the support price from
October 2014 to protect farmers from sharp decline in domestic prices
in view of expected higher production."Cotton procurement has
reached 41 lakh bales of 170 kg each so far this year. Maximum
procurement was from Andhra Pradesh and Telangana, followed by
Maharasthra," a senior Textile Ministry official told PTI.About 27
lakh bales of cotton have been purchased from Andhra Pradesh and
Telangana, 7,00,000 bales from Maharashtra, 2,20,000 bales from
Gujarat and around 2,00,000 bales from Punjab, Haryana and
Rajasthan, the official added.Cotton prices in domestic market are
ruling below support price of Rs 4,050 per quintal for last few months.
The sluggish trend is expected to continue due to poor export demand,
especially from China, amid higher local production.In global markets,
cotton prices have fallen substantially since last spring (March-May),
when they were above 90 cents per pound to under 70 cents per pound
in December, according to the US-based International Cotton
Advisory Committee."The contraction in China's demand for cotton
yarn imports is expected to cause India's cotton consumption growth
to slow to 4 per cent, reaching 5.3 million tonnes (24.34 million
bales)."This is down from 5 per cent in 2013-14 and 14 per cent in
2012-13 when demand for Indian yarn exports was much stronger,"
As per ICAC estimates, India's production is expected to remain stable
at 6.8 million tonnes (31.23 million bales) due to less favourable
monsoon weather despite an expansion in the cotton area by 5 per cent
to 12.3 million hectares. "However, its production will surpass China's
by over 3,00,000,making it the largest cotton producer in 2014-15,"
Meanwhile, the government' Cotton Advisory Board has pegged the
country's total cotton production at over 40 million bales in 2014-15
marketing year as against 39.8 million bales in 2013-14.
Sugar is witnessing some demand now as stocksts are buying the fresh
stocks. Mill prices have recovered from their lowest levels in three years.
However, supplies are equally good. The domestic Sugar production is up
27.3% in the first three months of the 2014-15 season that began in October to
hit 74.61 lakh tonnes (lt) as on December 31, according to latest data released
by the Indian Sugar Mills Association. The strong gains in the output have
been primarily attributed to mills in Uttar Pradesh beginning cane crushing
operations a week earlier than last season.
Jeera is holding above Rs 15000 per quintal, consolidating around 15 month
high amid steady demand. Prices soared in last few days on good buying
support following persistent worries over the acreage. The commodity is
quoting at Rs 15112, almost unchanged on the day. The total daily arrivals
stand at just 8000 bags- witnessing a slack season lull. Overseas demand
remains steady and the weakness in INR is supporting sentiments. Rajasthan
crop is seen taking a hit to the tune of around 30% on poor weather.
Mustardseed witnessed some buying on improving demand for
Mustardmeal. The commodity had soared on excellent buying amid thin
stocks few weeks back and it seems that further upside is possible from
hereon. Sowing area under total oilseeds is at 75.43 lakh hectares as compared
to 80.93 lakh hectares last year- down 6.80%. This makes is clear that the rabi
mustard harvest won't be an upbeat one. Spot Mustard is currently trading at
Rs 4150 per quintal, up Rs 30 per quintal on the day. Mustardmeal exports
have been in a good nick over last few months.
Spot Chana market is trading steady today. The arrivals have picked up pace
as traders' eye the start of the new season. The worries over rabi sowing are
keeping sentiments supported. Major losses have emerged in the area under
Gram or Chana. The area under sowing of Gram is at 79.65 lakh hectares this
year while the last year's figure was 95.03 lakh hectares- down 16%. Area
coverage under Total Pulses is at 129.99 lakh hectares while the last year's
sowing area coverage was 144.79 lakh hectares. In other pulses, good arrivals
are being witnessed in Tur market.
5. 5
Fundamental Watch : Catorseed
CASTORSEED ARRIVALS AT KEY SPOT
MARKET
National & International Market Update
Cash market traded mixed on Thursday amid lacklustre trading activities.
There is no demand for crushing at this point of time. Cash market is likely
to trade steady to slightly firm as major stake holders are holding stock and
intend to drive market up from current level. Pressure would be felt from
March and then downward pressure can be seen in the market. Various crop
estimate agencies see production as last year’s level. While Agriwatch sees
higher production than last year based on current survey underway despite
loss reported from Kutch region of Gujarat. Agriwatch would revise
production estimate in February,2015. There is a common talk in the
market that price of castor seed would continue to stay steady as farmers
would not sell seed below Rs 800 per 20 kg in peak arrival season. Cost of
cultivation has gone up and they may hold stock for three four months for
better price realization. Castor seed in Patan (Gujarat) traded unchanged at
4755 per qtl. Castor meal quote bulk at kandla was registered unchanged at
Rs 8100 per tonne as compare to last week. Fresh demand is expected from
the second week of January. Commercial grade oil price traded firm at
89000 per tonne, almost Rs 1000 higher than previous week. Fob quote for
castor oil at Kandla was quoted at $1440 per tonne, lower by $25 per tonne.
Meal price unchanged at $135 per tonne during the week under review.
International buyers remain sidelined as prices are higher than expectation.
They are not in a hurry to buy oil at higher prices as they have ample stock
to meet their needs at least for two months from now. Castor meal demand
is likely to decrease further as prices are ruling higher. Only need based
buying is on the card. Bulk buying is expected in March –April, the peak
arrival season and likely lower price. FOB quote In Kandla has decreased
considerably from $1470 to $1440 per tonne in last four weeks.
CENTER 08-Jan-15 07-Jan-15 Change
SUMERPUR 160 160 UNCH
JODHPUR 120 48 +72
RAJKOT 650 460 +190
GONDAL 142 332 -190
PATAN 3555 2705 +850
DEESA 2217 1830 +387
KADI 1708 1360 +348
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