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Epic research daily agri report 16th june 2015
1. DAILY AGRI COMMODITY REPORT
16 June 2015
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2. Market Views
2
MONTH OPEN HIGH LOW CLOSE % CHG VOL MONTH OPEN HIGH LOW CLOSE % CHG VOL
TURMERIC
JULY 7422 7450 7166 7166 -3.99 13625
INTRADAY
LEVELS
SUPPORT SUPP. 1
7071
SUPP. 2
6977
PIVOT
7260
Turmeric short term
trend is down and May
continue in coming
days.RESISTAN
CE
RES. 1
7355
RES. 2
7545
CORIANDER
JULY 12350 12360 11975 12320 -1.21 21720
INTRADAY
LEVELS
SUPPORT SUPP.1
12077
SUPP. 2
11833
PIVOT
12218
Coriander short term
trend is up and May
continue in coming
days.RESISTAN
CE
RES. 1
12462
RES. 2
12603
GUARGUM
JULY 11310 11310 10910 10910 -3.96 200320
INTRADAY
LEVELS
SUPPORT SUPP. 1
10776
SUPP. 2
10643
PIVOT
11043
Guargum short term
trend is down and May
continue in coming
days.RESISTAN
CE
RES. 1
11177
RES. 2
11443
CASTORSEED
JULY 4142 4145 4035 4048 -2.72 94000
INTRADAY
LEVELS
SUPPORT SUPP. 1
4007
SUPP. 2
3966
PIVOT
4076
Castorseed short term
trend is up and May
continue in coming
days..RESISTAN
CE
RES. 1
4117
RES. 2
4186
3. Most Active Contract
3
NCDEX INDICES
Index Value
Pre.
Close
%
Change
CASTORSEED 4048 4161 -2.72
CHANA 4496 4637 -3.04
CORIANDER 12300 12451 -1.21
GUARGUM 10910 11360 -3.96
JEERA 16230 16825 -3.54
MUSTARD
SEED
4150 4230 -1.82
SOYABEAN 3529 3673 -3.92
TURMERIC 7166 7464 -3.99
TOP LOSERS
SYMBOL EXPIRY DATE
CURRENT
PRICE
CHANGE
CHANGE
%
SOYABEAN 19-06-2015 3620.00 -190.00 -4.99%
TURMERIC 19-06-2015 7076.00 -352.00 -4.74%
CORIANDER 19-06-2015 11918.00 -451.00 -3.65%
CHANA 19-06-2015 4440.00 -150.00 -3.27%
JEERA 19-06-2015 16080.00 -510.00 -3.07%
CASTOR SEED NEW 19-06-2015 3930.00 -71.00 -1.77%
BARLEY 19-06-2015 1247.50 -17.00 -1.34%
RAPESEED-MUSTARD
SEED
19-06-2015 4110.00 -52.00 -1.25%
TOP GAINERS
SYMBOL EXPIRY DATE
CURRENT
PRICE
CHANGE CHANGE %
COTTON SEED OIL CAKE
AKOLA
19-06-2015 1759.00 7.00 0.40%
REFINED SOY OIL 19-06-2015 606.45 1.55 0.26%
4. Commodities In News
4
ECONOMIC NEWS
At a time when fears of another drought year are looming large, an RTI
application filed by a leading newspaper has revealed that the quantity of
foodgrains damaged in Food Corporation of India godowns across the
country recorded a drastic jump over the last two years when the country
lost more than 40,000 tonnes.Though the losses are attributed to natural
calamities like cyclone and floods, experts say it is also an indication of
poor storage facilities, pilferage and transit loss.The reply from FCI,
responsible for procurement and distribution of foodgrains, shows that the
damaged quantity rose threefold in five years — from 6,346 tonnes in
2010-11 to 18,847.22 tonnes in 2014-15. While 3,338.01 tonnes were
damaged in 2011-12 and 3,148.44 tonnes were damaged in 2012-13, as
many as 24,695.45 tonnes suffered damage in 2013-14.However, it
claimed that no damage could be directly attributed to lack of adequate
storage and handling facilities but did not give the financial loss suffered.
FCI chairman and managing director C Viswanath could not be reached for
comment.
From crop year 2015-16, the Madhya Pradesh government had decided
to dole out crop loans bearing an interest rate of minus 10 per cent (-10%).
About 40% of the farmers who receive crop loan are going to be eligible
for this beneficial scheme. "We have been giving crop loans at zero per
cent rate of interest. Now we want to give it at -10 per cent interest rate
because there is no alternative to farming. We can not grow our wheat, rice
or chana in the factories," said Madhya Pradesh chief minister Shivraj
Singh Chauhan.He was speaking at the National Conference on Crop
Insurance in Bhopal today. Meanwhile, Madhya Pradesh has withdrawn
the bonus it used to give to farmers for paddy, wheat and maize over and
above the minimum support price (MSP) as there is over production of
these crops in the state.
The Jeera crop has been affected due to unseasonal rains in growing
regions mainly in Rajasthan. Regular demand from stockists had been
noted but got adversely affected at these higher levels. There will not be
any direct impact of Monsoon progress on Jeera as sowing is far away
for the commodity. However it may affect the market sentiments to some
extent depending on the arrival and the progress of Monsoon towards the
growing states of Gujarat and Rajasthan. Harvesting has been affected
on late rains in Rajasthan and overall output could suffer.According to a
latest update from the Agriculture Ministry there has been an increase in
the area under Rabi crop coverage that was affected by unseasonal
rainfall and hailstorms from late February to early April.
Turmeric settled down due to arrival of medium and lower quality
turmeric in the spot Market. Sources are expecting the total production in
the range of 50-52 lakh bags in the current year, down 20 lakh bags from
the last year in the same period. Sources also stated that around 75lakh
bags of total stocks have been reported in local mandies. The news of a
below monsoon forecast by the IMD came as a blessing for the buyers as
prices had turned significantly cheaper for initiating fresh purchases.
Bargain buying is likely to continue in chana futures due to limited
supplies in local mandies coupled with weak kharif pulses sowing
progress so far in the current year. The NCDEX futures to test 4665-
4675 levels in the near term.As per the market sources, the total daily
arrivals have been reduced to 25 motors at Delhi mandi against 40
motors of the previous month. This was mainly on the account of limited
supplies from Rajasthan and Madhya Pradesh mandies.The prices will
also be well supported by weak sowing progress of kharif pulses so far
in the current year. The sowing of pulses has been reported at 2.46 lakh
hectares on 12th June 2015 against 2.75 lakh hectares of the last year in
the same period.
5. 5
Fundamental Watch : Chana
CHANA ARRIVALS AT KEY SPOT MARKETNational Market Update
Government had shown interest to buy 22629 tonnes of pulses from NAFED
and import huge amount of pulses from producing countries to control prices
in domestic retail market. Government has decided to float tenders to import
chana from Australia, yellow peas from Canada and other pulses from
Myanmar. These steps may increase International pulses market as stocks in
exporting countries are limited and new arrivals are expected to come August
onwards.
This year pulses prices are ruling higher and farmers intend to grow more
pulses this year. In normal weather condition acreage is likely to increase by
20 percent. However, as farmers opine that lower rainfall can change farmer’s
intention and they may go for another lucrative cash crop. If growing areas
receives normal rainfall, production and productivity are bound to increase.
Under lower rainfall condition, increase in acreage could be restricted.
However, in any condition pulses area in kharif would be higher in
comparison to last year.
According to farmer’s intention in Jalana and Latur region of Maharashtra,
urad and moong area may increase by 10% as compared to last year. Sowing
has started in these regions and overall condition is good for pulses plantation.
China for the second year in a row was net importer of Pulses. According to
the latest report compiled by STAT it imported 2.50 MMT of pulses in 2014
against 5.67 MMT in 2013. In 2014 it imported 8.17 MMT of pulses against
export of 5.67 MMT. China was a net exporter of pulses until the 2013
calendar year. In 2012, China exported 3.67 MMT more pulses than it
imported.
CENTER 15-June-15 13-June-15 Change
AHMEDNAGAR 4100 NA -
AJMER NA 4280 -
BHIND 4200 4400 -200
JAIPUR 4400 4450 -50
KANPUR 4750 4700 -50
KOTA 3800 4025 -225
VIJAYWADA 4600 4550 -50
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