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Epic research daily agri report 13 jan 2015
1. DAILYAGRI COMMODITY REPORT
13 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 8420 8420 8255 8325 -0.16 5700
INTRADAY
LEVELS
SUPPORT SUPP.1
8247
SUPP. 2
8168
PIVOT
8333
Dhaniya short term
trend is up, further
more upside is expected
in comimg days.RESISTAN
CE
RES. 1
8412
RES. 2
8498
CASTORSEED
FEB 4715 4745 4602 4663 -1.35 39670
INTRADAY
LEVELS
SUPPORT SUPP. 1
4595
SUPP. 2
4527
PIVOT
4670
Castorseed short term
trend is down, Prices
expected to go down in
coming days.RESISTAN
CE
RES. 1
4738
RES. 2
4813
TURMERIC
APR 8962 9148 8870 8934 -1.06 19855
INTRADAY
LEVELS
SUPPORT SUPP. 1
8820
SUPP. 2
8706
PIVOT
8984
Turmeric short term
trend is up and may
continue in coming
days.RESISTAN
CE
RES. 1
9098
RES. 2
9262
GUARGUM
FEB 11900 11900 11480 11480 -3.93 7064
INTRADAY
LEVELS
SUPPORT SUPP. 1
11340
SUPP. 2
11200
PIVOT
11620
Guargum Short term
trend is Down,
Expecting price may go
Down in coming days.RESISTAN
CE
RES. 1
11760
RES. 2
12040
3. Most Active Contract
3
TOP GAINERS
SYMBOL EXPIRY DATE
CURRENT
PRICE
CHANGE
CHANGE
%
JEERA 20-01-2015 15230.00 280.00 1.87%
CHANA 20-01-2015 3540.00 57.00 1.64%
TURMERIC 20-04-2015 9040.00 88.00 0.98%
COTTON SEED OIL CAKE
AKOLA
20-01-2015 1445.00 8.00 0.56%
REFINED SOY OIL 20-01-2015 670.50 1.00 0.15%
TOP LOSERS
SYMBOL EXPIRY DATE
CURRENT
PRICE
CHANGE
CHANGE
%
GUR 20-01-2015 982.00 -24.50 -2.43%
CASTOR SEED NEW 20-01-2015 4751.00 -63.00 -1.31%
BARLEY 20-01-2015 1623.00 -20.00 -1.22%
CORIANDER 20-01-2015 11695.00 -131.00 -1.11%
SOYABEAN 20-01-2015 3342.00 -20.00 -0.59%
NCDEX INDICES
Index Value
Pre.
Close
%
Change
CASTORSEED 4663 4727 -1.35
CHANA 3559 3552 0.2
CORIANDER 8325 8338 -0.16
GUARGUM 11480 11950 -3.93
JEERA 15590 14995 3.97
MUSTARD SEED 3612 3562 1.26
SOYABEAN 3470 3473 -0.09
TURMERIC 8934 9034 -1.06
4. Commodities In News
4
ECONOMIC NEWS
Pakistan Cotton industry is upset over the increase in cotton yarn
imports of India. All Pakistan Textile Mills Association (APTMA) has
alleged that the abnormal surge in imports is hurting the domestic
textile industry. APTMA officials say Pakistan imported an average of
2,500 tonnes of cotton yarn during July-November 2014-15. These
imports were of fine counts used in production of around 140
products. APTMA said this indicates a 100 per cent rise in imports of
Indian cotton yarn.
Wheat prices dropped in local mandies on thin demand by flour
millers. The commodity is unlikely to see much of an upside as
supplies from FCI are sufficient for large mills requirements. Wheat
crop is seen good though further progress would depend upon the
weather cues. As per Rabi Crops data released by Directorate of
Economics and Statistic, wheat`s sowing area is at 293.16 lakh
hectares as compared to last year's 294.30 lakh hectares. The area
under sowing of total Coarse cereals is at 51.17 lakh hectares as
compared to last year's 56.18 lakh hectares- a drop of around 9%.
All India Average rice price in the beginning of New Year was
move in the range bound as arrival of Kharif crop from northern states
has winding down and likely to be over by end of the month.
Currently non basmati rice market is moving in the range of Rs.2750-
2770/quintal which is almost steady from last week price but we
expect price will move slightly up from current level in coming
weeks.Basmati average prices in December fell sharply by 10-25%
across varieties in major markets like Karnal, Amritsar and Delhi
slackened demand against adequate supplies from producing belts.
Progressive arrival of aromatic paddy varieties in Karnal mandi in
Haryana was 249720 Quintal which is 35% higher than last year’s
arrival of 185572 Quintal, illustrating the significantly higher arrivals.
The upside momentum may persist in Chana futures supported by
fundamentals of lower sowing this season in major producing states.Extending
Duty-free import for Pulses till March 31 created a further selling pressure for
Pulses complex. Profit booking at the higher levels amidst reports that
Government may not be willing to impose 10% import duty on Pulses also
kept trend weak.Domestic demand however likely to pick up again at the
lower levels as overall market sentiments remain firm. Fall in Rabi sowing
area for Rabi Pulses and lower International production prospects could
support prices in medium to long term however. NCDEX Chana January
futures traded on a Positive note on Monday. Chana January contract gained
1.61% to 3541 levels on Monday at India's National Commodity &
Derivatives Exchange Limited (NCDEX).As per USDA, expected pulses
production in USA is up by 8% to 2,232,630 metric tonne during 2014 from
last year. Reports from Canada indicate chickpea production there expected to
fall to 0.14 million MT in 2014-15—down from 0.18 million MT in 2013-
14due to lower yield.
Turmeric futures are likely to gather fresh buying from lower levels due to
strong demand in northern mandies accompanied with poor production
estimates in major producing states. Traders will initiate fresh longs from
9080-9100 levels today.As per the market sources, northern India's mandies
have reported strong demand at current level to meet marriage season demand.
Moreover, strong stockiest demand with the anticipation of weak production
will also support the prices in the near term.Traders projected that the total
turmeric production is estimated at around 45-47 lakh tonnes in the current
year, down 22 lakh tonnes from the last year. The major decline is mainly on
the account of lower crop in Tamilnadu and Karnataka.The NCDEX Turmeric
April futures higher in the last trading at Rs 9030 per quintal.
Bearish trend continued in coriander prices as prices declined by almost Rs
150 per quintal at Kota mandi due to favourable rainfall in major coriander
states Madhya Pradesh and Rajasthan. Traders are expecting further selling in
the near term.
5. 5
Fundamental Watch :Cotton
COTTON ARRIVALS AT KEY SPOT
MARKET
National Market Update
Cotton market noticed mixed tone on Monday. Cotton prices are under the
pressure of bears as Cotton Corporation of India (CCI) has announced the
commencement of sale of cotton from 15 January onwards, which it has
procured from different centers at MSP in the current season (Oct’14-
Sept’15).Cotton Corporation of India (CCI), has procured 41 lakh bales (of
170 kg each) of cotton at MSP, till now this year from the major cotton
growing region including Andhra Pradesh, Telangana and Maharashtra.
Around 27 lakh bales of cotton from Andhra Pradesh and Telangana, 7 lakh
bales from Maharahtra, 2.20 lakh bales from Gujarat and 2 lakh bales from
Punjab, Haryana and Rajasthan have been procured by Cotton Corporation of
India. The International Cotton Advisory Committee (ICAC) see the growth in
cotton consumption this season 2014-15, with a estimated surplus of 1.7
million tons in world output of cotton. Ending stocks would stand around 21.3
million tonnes by the end of current season, around 9% higher from the
previous season. Cotton output in India would remain stable at 6.8 million
tonnes due to unfavorable situation of monsoon. Cotton industry in India
noticed overall growth in 2014-15 and production is likely to be around 40.2
million bales, said Cotton Association of India (CAI). Cotton output was 15.8
million bales in 2001-02, which has more than doubled in 2014-15.
The Bangladesh's cotton consumption will rise 4.08% in fiscal 2015-16, on
higher demand from local spinners and foreign investors in the textile sector-
Economist Intelligence Unit (EIU) forecasts. The Egypt government will no
longer pay the subsidy of 350 Egyptian pounds per qintar(160 kg) for high
quality cotton (extra long staple cotton, once known as the country's "white
gold") and also advised to farmers that not to plant the crop unless they have
contracts to sell the same. Pakistan Bureau of Statistics revealed that textile
and clothing export surged to $1.128 billion in November 2014 from $998.143
million in the corresponding period of last year, an increase of 7.01 per cent.
CENTER 12-Jan-15 10-Jan-15 Change
AMRAVATI 11500 11000 +500
RAJKOT 4650 4800 -150
PATAN 16325 15550 775
DEESA 2175 2525 -350
BHIWANI 1000 2000 -1000
GONDAL 2524 2204 320
MAHESANA 15000 20000 -5000
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