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DAILY AGRI COMMODITY REPORT
21 Apr 2015
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Mintara Road, Tarneit, Victoria. Post Code 3029
Phone.: +61 422 063855
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2117 Arbor Vista Dr. Charlotte (NC)
Cell: +1 704 249 2315
Toll Free Number
1-800-200-9454
All queries should be directed to
Info@epicresearch.co
1
Epic Research India
411 Milinda Manor (Suites 409- 417)
2 RNT Marg. Opp Central Mall
Indore (M.P.)
Hotline: +91 731 664 2300
Alternate: +91 731 664 2320
Or give us a missed call at
026 5309 0639
Our Presence
YOURMINTVISORY Call us at +91-731-6642300
Market Views
2
MONTH OPEN HIGH LOW CLOSE % CHG VOL MONTH OPEN HIGH LOW CLOSE % CHG VOL
CORIANDER
MAY 9999 10135 9711 9874 -2.18 29700
INTRADAY
LEVELS
SUPPORT SUPP.1
9678
SUPP. 2
9483
PIVOT
9907
Coriander short term
trend is up, further
more upside is expected
in coming days.RESISTAN
CE
RES. 1
10102
RES. 2
10331
CASTORSEED
MAY 3652 3664 3622 3650 -0.30 17540
INTRADAY
LEVELS
SUPPORT SUPP. 1
3627
SUPP. 2
3603
PIVOT
3645
Castorseed short term
trend is down, Prices
expected to go down
in coming days.RESISTAN
CE
RES. 1
3669
RES. 2
3687
TURMERIC
MAY 8350 8350 8110 8240 -1.10 14225
INTRADAY
LEVELS
SUPPORT SUPP. 1
8117
SUPP. 2
7993
PIVOT
8233
Turmeric short term
trend is up and may
continue in coming
days.RESISTAN
CE
RES. 1
8357
RES. 2
8473
GUARGUM
MAY 10650 10980 10140 10980 +3.98 18913
INTRADAY
LEVELS
SUPPORT SUPP. 1
10420
SUPP. 2
9860
PIVOT
10700
Guargum Short term
trend is up, Expecting
price may go up in
coming days.RESISTAN
CE
RES. 1
11260
RES. 2
11540
Most Active Contract
3
TOP GAINERS
SYMBOL EXPIRY DATE
CURRENT
PRICE
CHANGE
CHANGE
%
COTTON SEED OIL CAKE
AKOLA
20-05-2015 1757.00 47.00 2.75%
SOYABEAN 19-06-2015 3706.00 62.00 1.70%
CORIANDER 20-05-2015 9778.00 147.00 1.53%
REFINED SOY OIL 19-06-2015 583.10 3.10 0.53%
JEERA 20-05-2015 17855.00 80.00 0.45%
V 797 KAPAS 30-04-2015 808.50 3.00 0.37%
RAPESEED-MUSTARD
SEED
20-05-2015 3671.00 4.00 0.11%
NCDEX INDICES
Index Value
Pre.
Close
%
Change
CASTORSEED 3650 3661 -0.3
CHANA 3915 3959 -1.11
CORIANDER 9874 10094 -2.18
GUARGUM 10980 10560 +3.98
JEERA 17950 18290 -1.86
MUSTARD SEED 3667 3708 -1.11
SOYABEAN 3715 3681 +0.92
TURMERIC 8240 8332 -1.10
TOP LOSERS
SYMBOL EXPIRY DATE
CURRENT
PRICE
CHANGE
CHANGE
%
TURMERIC 20-05-2015 8200.00 -394.00 -4.58%
CHANA 20-05-2015 3931.00 -70.00 -1.75%
BARLEY 20-05-2015 1166.00 -16.50 -1.40%
CASTOR SEED NEW 20-05-2015 3657.00 -48.00 -1.30%
Commodities In News
4
ECONOMIC NEWS
 The all India weighted average rainfall between March 1 and
April 15 was 96.6mm, more than double the normal of 47.8mm.
Over 80% of the country received "excess" rains, the data reveals,
showing that the wet weather has been both widespread as well as
sustained.Most of these impacted areas are in north and central India,
from where the maximum crop losses have been reported. While
such huge excess rains makes little sense in subdivisions such as
Saurashtra & Kutch, which received 7.3mm rain as opposed to a
normal of 1.3mm, in most other areas the rains storms, accompanied
by hail at some places, were intense and frequent enough to damage
crops.For instance, Haryana (including Delhi and Chandigarh)
received 100.4mm rainfall as against a normal of 16.8mm. To put
that in perspective, average rainfall in Haryana during the entire
monsoon season, June to September, is 356.7mm.The gap between
actual and normal rainfall was similarly high for Uttar Pradesh,
Rajasthan, Madhya Pradesh, madhya Maharashtra, Vidarbha,
Marathwada and Telangana.The data also reveals that there has
hardly been any let up in the rains in April, after March this year was
recorded to be the wettest in 48 years. The all India rainfall in March
was 61.1mm, 198% higher than the normal of 30.9mm. That means
there has been 35.5mm rainfall in the first half of April against a
normal for this period of 16.9mm.
 India's farm sector, which is still rainfed, is likely to receive a
'normal' monsoon, as per reports from private weather forecasters.
Agrimarket rates were pressured by the reports of normal monsoon
form the private weather agencies.Private weather forecaster Skymet
expects the coming monsoon to be ‘normal’. It has forecast the
monsoon at 102 % of the long period average of 887 mm for the four
month period from June to September.Traders and investors are
anxious about how this normal monsoon will affect the agri markets
which have seen prices rising over the last few months.
 Chana prices has seen highs recently on the back of the crop loss inflicted by
the unseasonal rains in some parts of India. But a normal monsoon predicted by
certain private weather agencies like skymet has dragged down the prices.As
per 2nd Advance Estimates for 2014-15, total food grains production in India is
estimated at 257.07 million tons– lower by 3% w.r.t. 265.57 million tons
previous year. Production of pulses estimated at 18.43 million tonnes is lower
by 1.35 million tonnes than the last year’s production. Chana production is
estimated at 8.28 million tons vs 9.53 million tons last year. Urad production
expected to shrink by 5% to 16.10 lakh tons from 17 lakh tons. Moong
production to fall to 14 lakh tons from 16.10 lakh tons.In order to keep prices
for Pulses under check, the Govt has decided to extent duty-free imports till
Sept. Unseasonal rain in March brought a heavy loss to crops of pulses.Indian
farmers have cultivated 146 lakh hectares pulse crops during the rabi season.
Out of this chana acreage is near 85 lakh hectares. Pules production is estimated
to fall to 184.3 lakh tons in 2014-15 due to less acreage. Last year 197.8 lakh
tons of pulses were produced in the country.
 Turmeric witnessed strong selling today due to active liquidation by traders
and stockiest at higher levels. Turmeric traders are expecting new production
this season to be around 45 lakh bags, down 25 lakh bags from the last year. On
the other side, stocks have depleted in local mandies with strong pace due to
steady export demand. The Turmeric India Spot prices are trading at Rs 8000
per quintal, down Rs 50 on the day.Fresh export is notice at spot front, which
might support the prices to move higher. Export for the year 2015 is estimated
at 0.78 lakh tons. UAE, Bangladesh, Japan and Malaysia are major buyers from
Indian origin. April to December period, India`s turmeric exports rose 8% to
65,000 tonnes and value gained 15% to Rs 52,695lakh.
 Bullish trend was continued in mustard seed futures due to strong meal
demand and weak stocks in local mandies. Traders are expecting strong
demand in mustard seed doc along with stockiest demand of seed.The strong
demand in edible oils and Mustard Meal demand have been the supporting
factors for Mustard seed and oil at lower levels
5
Fundamental Watch : Sugar
SUGAR PRICES AT KEY SPOT MARKETNational Market Update
 India exported 70.7 thousand tons of sugar for the week ending 12th Apr, 2015
which was 63% higher than the sugar exported the previous week. On the contrary,
sugar import by the country declined 54.9% from 22.1 thousand tons to 10 thousand
tons this week Sugar production in Gujarat fell down by 4.6% this season (2014-15)
as only 11 lakh tons of sugar was produced till 15th Apr, 2015 compared to 11.53 lakh
tons last year. Considering the bumper sugar production this year, ISMA, the
industrial association, projected India’s sugar production at 270 lakh tons for 2014-15
(1st Oct, 2014 – 30th Sep, 2015). Sugar mills are pitching for a one-time intervention
by the central government for purchase of 2.2 million tonnes of surplus in the
country's sugar pool to arrest a steady decline in the commodity's prices, and provide
Rs 7000-crore of much needed cash for the struggling industry.Although India had
curbed imports down to negligible levels in 2014, sugar production has been high
owing to tacit encouragement by way of high cane prices for farmers. However, prices
have dropped steadily over the last two years, but the production has been range-
bound around 25 million tonnes. In the 2014-15 sugar year, the expected production is
at 26.5 million tonnes. India will close 2014-15 sugar year with a closing balance of
90 lakh tonnes, a surplus of 30 lakh tonnes.the Indian Government has never in history
created such a sugar reserve, though the practice is not unheard of in other sugar-
producing nations such as China, where the Government has created stockpiles in
millions of tonnes.The Indian sugar industry has had its fifth year of high production
and depressed prices. Sugar mills have had to tackle declining prices on the sales front
and battle farmers on the increasing cane price.
 Brazil’s centre south region had churned around 5.4 million tons of new cane crop
by 1st Apr, 2015 to produce 1.52 lakh tons of sugar during the period. Reportedly the
Brazilian mills this year had started the crushing operation (for 2015-16 crop) early for
which the official year begins from 1st April. Thailand, the second largest sugar
exporter in the world; had exported two lakh tons of sugar in first half of April, 2015
together with 1 .4 million tons of sugar in the first quarter of year 2015. 290 sugar
mills in India had churned around 263.56 lakh tons of sugar in 2014-15 (1st Oct, 2014
– 15th Apr, 2015) which was 13.8% higher than the production made last year during
the corresponding period.
CENTER 20-Apr-15 18-Apr-15 Change
DELHI 2710 2700 +10
DHAMPUR 2640 CLOSED -
MUMBAI 2780 2780 UNCH
KOLHAPUR 2450 2450 UNCH
VIJAYWADA 2960 2960 UNCH
NAGPUR NA NA -
KOLKATA 2850 2750 +100
Technical Outlook
6
BUY CORIANDER MAY ABOVE 9990 TARGET 10015 10055 SL
BELOW9965
BUY GUARGUM MAY ABOVE 11100 TARGET 11150 11210 SL
BELOW 11040
SELL TURMERIC MAY BELOW 8180 TARGET 8140 8080 SL
ABOVE 8240
SELL CASTORSEED MAY BELOW 3630 TARGET 3605 3575 SL
ABOVE 3655
Disclaimer
 The information and views in this report, our website & all the service we provide are believed to be reliable, but we do not accept any
responsibility (or liability) for errors of fact or opinion. Users have the right to choose the product/s that suits them the most.
 Sincere efforts have been made to present the right investment perspective. The information contained herein is based on analysis and
up on sources that we consider reliable. This material is for personal information and based upon it & takes no responsibility.
 The information given herein should be treated as only factor, while making investment decision. The report does not provide
individually tailor-made investment advice. Epic research recommends that investors independently evaluate particular investments
and strategies, and encourages investors to seek the advice of a financial adviser. Epic research shall not be responsible for any
transaction conducted based on the information given in this report, which is in violation of rules and regulations of NSE and BSE.
 The share price projections shown are not necessarily indicative of future price performance. The information herein, together with all
estimates and forecasts, can change without notice. Analyst or any person related to epic research might be holding positions in the
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Epic research daily agri report 21 april 2015

  • 1. DAILY AGRI COMMODITY REPORT 21 Apr 2015 HNI & NRI Sales Contact Australia Mintara Road, Tarneit, Victoria. Post Code 3029 Phone.: +61 422 063855 HNI & NRI Sales Contact USA 2117 Arbor Vista Dr. Charlotte (NC) Cell: +1 704 249 2315 Toll Free Number 1-800-200-9454 All queries should be directed to Info@epicresearch.co 1 Epic Research India 411 Milinda Manor (Suites 409- 417) 2 RNT Marg. Opp Central Mall Indore (M.P.) Hotline: +91 731 664 2300 Alternate: +91 731 664 2320 Or give us a missed call at 026 5309 0639 Our Presence YOURMINTVISORY Call us at +91-731-6642300
  • 2. Market Views 2 MONTH OPEN HIGH LOW CLOSE % CHG VOL MONTH OPEN HIGH LOW CLOSE % CHG VOL CORIANDER MAY 9999 10135 9711 9874 -2.18 29700 INTRADAY LEVELS SUPPORT SUPP.1 9678 SUPP. 2 9483 PIVOT 9907 Coriander short term trend is up, further more upside is expected in coming days.RESISTAN CE RES. 1 10102 RES. 2 10331 CASTORSEED MAY 3652 3664 3622 3650 -0.30 17540 INTRADAY LEVELS SUPPORT SUPP. 1 3627 SUPP. 2 3603 PIVOT 3645 Castorseed short term trend is down, Prices expected to go down in coming days.RESISTAN CE RES. 1 3669 RES. 2 3687 TURMERIC MAY 8350 8350 8110 8240 -1.10 14225 INTRADAY LEVELS SUPPORT SUPP. 1 8117 SUPP. 2 7993 PIVOT 8233 Turmeric short term trend is up and may continue in coming days.RESISTAN CE RES. 1 8357 RES. 2 8473 GUARGUM MAY 10650 10980 10140 10980 +3.98 18913 INTRADAY LEVELS SUPPORT SUPP. 1 10420 SUPP. 2 9860 PIVOT 10700 Guargum Short term trend is up, Expecting price may go up in coming days.RESISTAN CE RES. 1 11260 RES. 2 11540
  • 3. Most Active Contract 3 TOP GAINERS SYMBOL EXPIRY DATE CURRENT PRICE CHANGE CHANGE % COTTON SEED OIL CAKE AKOLA 20-05-2015 1757.00 47.00 2.75% SOYABEAN 19-06-2015 3706.00 62.00 1.70% CORIANDER 20-05-2015 9778.00 147.00 1.53% REFINED SOY OIL 19-06-2015 583.10 3.10 0.53% JEERA 20-05-2015 17855.00 80.00 0.45% V 797 KAPAS 30-04-2015 808.50 3.00 0.37% RAPESEED-MUSTARD SEED 20-05-2015 3671.00 4.00 0.11% NCDEX INDICES Index Value Pre. Close % Change CASTORSEED 3650 3661 -0.3 CHANA 3915 3959 -1.11 CORIANDER 9874 10094 -2.18 GUARGUM 10980 10560 +3.98 JEERA 17950 18290 -1.86 MUSTARD SEED 3667 3708 -1.11 SOYABEAN 3715 3681 +0.92 TURMERIC 8240 8332 -1.10 TOP LOSERS SYMBOL EXPIRY DATE CURRENT PRICE CHANGE CHANGE % TURMERIC 20-05-2015 8200.00 -394.00 -4.58% CHANA 20-05-2015 3931.00 -70.00 -1.75% BARLEY 20-05-2015 1166.00 -16.50 -1.40% CASTOR SEED NEW 20-05-2015 3657.00 -48.00 -1.30%
  • 4. Commodities In News 4 ECONOMIC NEWS  The all India weighted average rainfall between March 1 and April 15 was 96.6mm, more than double the normal of 47.8mm. Over 80% of the country received "excess" rains, the data reveals, showing that the wet weather has been both widespread as well as sustained.Most of these impacted areas are in north and central India, from where the maximum crop losses have been reported. While such huge excess rains makes little sense in subdivisions such as Saurashtra & Kutch, which received 7.3mm rain as opposed to a normal of 1.3mm, in most other areas the rains storms, accompanied by hail at some places, were intense and frequent enough to damage crops.For instance, Haryana (including Delhi and Chandigarh) received 100.4mm rainfall as against a normal of 16.8mm. To put that in perspective, average rainfall in Haryana during the entire monsoon season, June to September, is 356.7mm.The gap between actual and normal rainfall was similarly high for Uttar Pradesh, Rajasthan, Madhya Pradesh, madhya Maharashtra, Vidarbha, Marathwada and Telangana.The data also reveals that there has hardly been any let up in the rains in April, after March this year was recorded to be the wettest in 48 years. The all India rainfall in March was 61.1mm, 198% higher than the normal of 30.9mm. That means there has been 35.5mm rainfall in the first half of April against a normal for this period of 16.9mm.  India's farm sector, which is still rainfed, is likely to receive a 'normal' monsoon, as per reports from private weather forecasters. Agrimarket rates were pressured by the reports of normal monsoon form the private weather agencies.Private weather forecaster Skymet expects the coming monsoon to be ‘normal’. It has forecast the monsoon at 102 % of the long period average of 887 mm for the four month period from June to September.Traders and investors are anxious about how this normal monsoon will affect the agri markets which have seen prices rising over the last few months.  Chana prices has seen highs recently on the back of the crop loss inflicted by the unseasonal rains in some parts of India. But a normal monsoon predicted by certain private weather agencies like skymet has dragged down the prices.As per 2nd Advance Estimates for 2014-15, total food grains production in India is estimated at 257.07 million tons– lower by 3% w.r.t. 265.57 million tons previous year. Production of pulses estimated at 18.43 million tonnes is lower by 1.35 million tonnes than the last year’s production. Chana production is estimated at 8.28 million tons vs 9.53 million tons last year. Urad production expected to shrink by 5% to 16.10 lakh tons from 17 lakh tons. Moong production to fall to 14 lakh tons from 16.10 lakh tons.In order to keep prices for Pulses under check, the Govt has decided to extent duty-free imports till Sept. Unseasonal rain in March brought a heavy loss to crops of pulses.Indian farmers have cultivated 146 lakh hectares pulse crops during the rabi season. Out of this chana acreage is near 85 lakh hectares. Pules production is estimated to fall to 184.3 lakh tons in 2014-15 due to less acreage. Last year 197.8 lakh tons of pulses were produced in the country.  Turmeric witnessed strong selling today due to active liquidation by traders and stockiest at higher levels. Turmeric traders are expecting new production this season to be around 45 lakh bags, down 25 lakh bags from the last year. On the other side, stocks have depleted in local mandies with strong pace due to steady export demand. The Turmeric India Spot prices are trading at Rs 8000 per quintal, down Rs 50 on the day.Fresh export is notice at spot front, which might support the prices to move higher. Export for the year 2015 is estimated at 0.78 lakh tons. UAE, Bangladesh, Japan and Malaysia are major buyers from Indian origin. April to December period, India`s turmeric exports rose 8% to 65,000 tonnes and value gained 15% to Rs 52,695lakh.  Bullish trend was continued in mustard seed futures due to strong meal demand and weak stocks in local mandies. Traders are expecting strong demand in mustard seed doc along with stockiest demand of seed.The strong demand in edible oils and Mustard Meal demand have been the supporting factors for Mustard seed and oil at lower levels
  • 5. 5 Fundamental Watch : Sugar SUGAR PRICES AT KEY SPOT MARKETNational Market Update  India exported 70.7 thousand tons of sugar for the week ending 12th Apr, 2015 which was 63% higher than the sugar exported the previous week. On the contrary, sugar import by the country declined 54.9% from 22.1 thousand tons to 10 thousand tons this week Sugar production in Gujarat fell down by 4.6% this season (2014-15) as only 11 lakh tons of sugar was produced till 15th Apr, 2015 compared to 11.53 lakh tons last year. Considering the bumper sugar production this year, ISMA, the industrial association, projected India’s sugar production at 270 lakh tons for 2014-15 (1st Oct, 2014 – 30th Sep, 2015). Sugar mills are pitching for a one-time intervention by the central government for purchase of 2.2 million tonnes of surplus in the country's sugar pool to arrest a steady decline in the commodity's prices, and provide Rs 7000-crore of much needed cash for the struggling industry.Although India had curbed imports down to negligible levels in 2014, sugar production has been high owing to tacit encouragement by way of high cane prices for farmers. However, prices have dropped steadily over the last two years, but the production has been range- bound around 25 million tonnes. In the 2014-15 sugar year, the expected production is at 26.5 million tonnes. India will close 2014-15 sugar year with a closing balance of 90 lakh tonnes, a surplus of 30 lakh tonnes.the Indian Government has never in history created such a sugar reserve, though the practice is not unheard of in other sugar- producing nations such as China, where the Government has created stockpiles in millions of tonnes.The Indian sugar industry has had its fifth year of high production and depressed prices. Sugar mills have had to tackle declining prices on the sales front and battle farmers on the increasing cane price.  Brazil’s centre south region had churned around 5.4 million tons of new cane crop by 1st Apr, 2015 to produce 1.52 lakh tons of sugar during the period. Reportedly the Brazilian mills this year had started the crushing operation (for 2015-16 crop) early for which the official year begins from 1st April. Thailand, the second largest sugar exporter in the world; had exported two lakh tons of sugar in first half of April, 2015 together with 1 .4 million tons of sugar in the first quarter of year 2015. 290 sugar mills in India had churned around 263.56 lakh tons of sugar in 2014-15 (1st Oct, 2014 – 15th Apr, 2015) which was 13.8% higher than the production made last year during the corresponding period. CENTER 20-Apr-15 18-Apr-15 Change DELHI 2710 2700 +10 DHAMPUR 2640 CLOSED - MUMBAI 2780 2780 UNCH KOLHAPUR 2450 2450 UNCH VIJAYWADA 2960 2960 UNCH NAGPUR NA NA - KOLKATA 2850 2750 +100
  • 6. Technical Outlook 6 BUY CORIANDER MAY ABOVE 9990 TARGET 10015 10055 SL BELOW9965 BUY GUARGUM MAY ABOVE 11100 TARGET 11150 11210 SL BELOW 11040 SELL TURMERIC MAY BELOW 8180 TARGET 8140 8080 SL ABOVE 8240 SELL CASTORSEED MAY BELOW 3630 TARGET 3605 3575 SL ABOVE 3655
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