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1. DAILY AGRI COMMODITY REPORT
23 Apr 2015
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2. Market Views
2
MONTH OPEN HIGH LOW CLOSE % CHG VOL MONTH OPEN HIGH LOW CLOSE % CHG VOL
CORIANDER
MAY 10588 10678 10088 10544 +3.07 42280
INTRADAY
LEVELS
SUPPORT SUPP.1
10195
SUPP. 2
9847
PIVOT
10437
Coriander short term
trend is up, further
more upside is expected
in coming days.RESISTAN
CE
RES. 1
10785
RES. 2
11027
CASTORSEED
MAY 3655 3683 3635 3662 +0.05 34290
INTRADAY
LEVELS
SUPPORT SUPP. 1
3637
SUPP. 2
3612
PIVOT
3660
Castorseed short term
trend is down, Prices
expected to go down
in coming days.RESISTAN
CE
RES. 1
3685
RES. 2
3708
TURMERIC
MAY 8360 8550 8272 8430 +0.29 20435
INTRADAY
LEVELS
SUPPORT SUPP. 1
8285
SUPP. 2
8139
PIVOT
8417
Turmeric short term
trend is up and may
continue in coming
days.RESISTAN
CE
RES. 1
8563
RES. 2
8695
GUARGUM
MAY 11010 11700 10800 11630 +4.59 17430
INTRADAY
LEVELS
SUPPORT SUPP. 1
11053
SUPP. 2
10477
PIVOT
11377
Guargum Short term
trend is up, Expecting
price may go up in
coming days.RESISTAN
CE
RES. 1
11953
RES. 2
12277

3. Most Active Contract
3
TOP GAINERS
SYMBOL EXPIRY DATE
CURRENT
PRICE
CHANGE
CHANGE
%
SOYABEAN 19-06-2015 3924.00 138.00 3.65%
CORIANDER 20-05-2015 10576.00 346.00 3.38%
CHANA 20-05-2015 3960.00 87.00 2.25%
COTTON SEED OIL CAKE
AKOLA
20-05-2015 1752.00 24.00 1.39%
BARLEY 20-05-2015 1196.50 16.00 1.36%
V 797 KAPAS 30-04-2015 806.00 9.50 1.19%
RAPESEED-MUSTARD
SEED
20-05-2015 3695.00 32.00 0.87%
TURMERIC 20-05-2015 8458.00 68.00 0.81%
REFINED SOY OIL 19-06-2015 586.80 2.80 0.48%
CASTOR SEED NEW 20-05-2015 3664.00 8.00 0.22%
NCDEX INDICES
Index Value
Pre.
Close
%
Change
CASTORSEED 3662 3660 +0.05
CHANA 3968 3879 +2.29
CORIANDER 10544 10230 +3.07
GUARGUM 11630 11120 +4.59
JEERA 18330 18360 -0.16
MUSTARD SEED 3690 3665 +0.65
SOYABEAN 3900 3778 +3.23
TURMERIC 8430 8406 +0.29
TOP LOSERS
SYMBOL EXPIRY DATE
CURRENT
PRICE
CHANGE
CHANGE
%
JEERA 20-05-2015 18330 18360 -0.16

4. Commodities In News
4
ECONOMIC NEWS
 In order to give relief to the farmers affected with heavy rain and
hailstorm, the Narendra Modi government has reduced value cut for
Shrivelled and Broken wheat grains to relax procurement norms
further.On the basis of requests received from the Haryana, Rajasthan
and Madhya Pradesh, the Union Ministry of Consumer Affairs, Food
and Public Distribution has decided not to impose much value cut in
respect of more Shrivelled and Broken grains, according to an official
statement. Following state wise orders have been issued today regarding
the relaxations: Haryana: The value cut in respect of shrivelled &
broken grains will be allowed @ 1/4th of one value cut for every
additional relaxation of 2% or part thereof. As such, Rs. 3.63 per quintal
(MSP-Rs.1450/-per quintal) will be deducted on wheat having shriveled
& broken grains above 6% upto 8% and in case of wheat having
shriveled & broken grains above 8% upto 10%, value cut of Rs. 7.25
per quintal will be deducted.The value cut in respect of luster lost grains
will remain the same as specified in the order dated 8.4.2015 i.e. 1/4th
of one value cut on flat basis or say Rs. 3.63 per quintal for luster lost
grains above 10% and upto 50%.Rajasthan- The value cut in respect of
shrivelled & broken grains will be allowed @ 1/4th of one value cut for
every additional relaxation of 2% or part thereof. As such, Rs. 3.63 per
quintal (MSP-Rs.1450/-per quintal) will be deducted on wheat having
shriveled & broken grains above 6% upto 8% and in case of wheat
having shriveled & broken grains above 8% upto 9%, value cut of Rs.
7.25 per quintal will be deducted.The value cut in respect of luster lost
grains will remain the same as specified in the order dated 8.4.2015 i.e.
1/4th of one value cut on flat basis or say Rs. 3.63 per quintal for luster
lost grains above 10% and upto 50%.Madhya Pradesh-The value cut in
respect of shrivelled & broken grains will be allowed @ 1/4th of one
value cut for every additional relaxation of 2% or part thereof. As such,
Rs. 3.63 per quintal (MSP-Rs.1450/-per quintal) will be deducted on
wheat having shriveled & broken grains above 6% upto 8% and in case
of wheat having shriveled & broken grains above 8% upto 10%, value
cut of Rs. 7.25 per quintal will be deducted.
 Some recovery was seen in turmeric futures due to strong demand by
stockiest at lower levels coupled with limited supplies in local mandies.
Traders 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.
However, in the long term, traders are expecting further decline in the
coming days due to possibility of new supplies from other producing states.
The market traders are avoiding any long positions at current levels.
 Castor Seed futures are likely to maintain bearish trend for the short term.
The trend may be sideways for intra day.As per the latest crop survey report
SEA OF India, the all India production of castor seed production is estimated
to be between 1276 to 1368 thousand tonnes.As per the revised estimates of
April, the Yield has decreased by 1% at an overall level and in turn the
production has decreased by 1% according to Government area estimates
and has declined by 2% as per the report.Castor Seed May futures were
trading down by 0.05% to 3662 level on Wednesday aroundat NCDEX.India
agri markets are witnessing high volatility ahead of the IMD Monsoon
predictions today. Any favourable Monsoon report regarding its timely
arrival or normal rains may have temporary bearish impact on prices. Oil
complex fail to recover strongly as weakness in International markets
prevent a strong recovery.
 Coriander futures (May) is expected to maintain the upside. Demand for
coriander was strong from north India and exporters. Demand from south
Indian buyers is also expected to increase. The trend is bullish for short term
and sideways for intra day.Coriander was seen stretching gains in the
physical as well as futures market. Coriander May contract was trading up by
3.07 per cent to 10540 levels on Wednesday at NCDEX.Untimely rains in
the key growing areas have impacted on the quality of the spice. According
to the Agriculture ministry, around 71,000 ha affected which is about 20-
25% of the crop areas. Also, there were reports of crop failure in Bulgaria
and Romania. However, profit booking may not be ruled out owing to high
carryover stocks. Meanwhile, coriander export remain unchanged and stood
at 34,00 tonnes during Apr- Dec 2014-15.

5. 5
Fundamental Watch : Castorseed
CASTORSEED ARRIVALS AT KEY SPOT
MARKET
National Market Update
 Cash seed markets traded mixed amid weak trading activities on Wednesday.
Lower arrivals and firmness in futures helped market to recover slightly. However ,
overall sentiments remains weak as oil demand is below expectation. Sea Of India has
come out with revised estimate in the latest (4th) round of survey and it has estimated
1 percent yield loss from February estimate. Latest survey reveals that castor seed
production would be in the range of 12.76 to 13.68 lakh tonne this year. It is slightly
lower than February estimate. Castor meal export in March-2015 was registered at
71575 tonne in comparison to previous month. Exporters had brought 51449 tonne
meal in February. During last one month FOB quotes decreased from $121 to $105
per tonne.More dip in FOB quote is expected as pressure of arrivals yet to be realised.
There is good demand from South Asian and European countries. Planters too have
increased crushing in last two months as seed availability has increased and supply is
ample. Market experts opine that farmers may release lower stock this year owing to
lower prices. If they release 20 percent lower crop and stockists enter into the market
for stock purpose, market may move up, but not before mid May. Heavy burden of
carry out is said to be exhausted by 40 percent till now and pipe line is almost vaccant.
So any major dip from current level is unlikely. Demand from oil from national and
international market has improved and it may support market even at peak arrival
month (April).So the best time for seed buying is expected to be April. Stability in the
market is expected by end April. May onward sowing intention of the farmer would be
clear. Monsoon rains and price of the seed would be crucial for this year's acreage.
Castor Oil FoB Kandla was traded at $1190 per tonne this week and around $5 to $10
dip is expected in the remaining week of April.
 Major buyers like China ,EU and US have slowed down their buying as they have
covered their 6th/ 7th months requirements. However,other buyers may enter into the
market by April end and it may support market fundamentals. The weak economic
scenario in China and Europe has reflected in castor oil export volume in 2014. China
imported 24 percent lower oil in 2014 in comparison to 2013.However, good news is
that improvement by 15 percent is expected now. Castor oil in Rotterdam decreased
from $1700 to $1525 per tonne in last one month and may touch $1500 per tonne in
the month of March. Pressure on Indian market and decreasing trend continue to
impact global market in the weeks ahead.
CENTER 22-Apr-15 21-Apr-15 Change
SUMERPUR 1200 1440 -240
JODHPUR 80 CLOSED -
HALVAD 3000 CLOSED -
RAJKOT 875 600 +275
PATAN 11250 CLOSED -
MAHESANA 960 CLOSED -
GONDAL 605 859 -254

6. Technical Outlook
6
BUY CORIANDER MAY ABOVE 10620 TARGET 10645 10685 SL
BELOW10595
SELL GUARGUM MAY BELOW 11360 TARGET 11310 11250 SL
ABOVE 11420
BUY TURMERIC MAY ABOVE 8550 TARGET 8580 8620 8670 SL
BELOW 8500
SELL CASTORSEED MAY BELOW 3640 TARGET 3625 3605 3580
SL ABOVE 3665

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