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DAILY AGRI COMMODITY REPORT
24 Apr 2015
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Market Views
2
MONTH OPEN HIGH LOW CLOSE % CHG VOL MONTH OPEN HIGH LOW CLOSE % CHG VOL
CORIANDER
MAY 10665 10980 10410 10870 +2.70 38370
INTRADAY
LEVELS
SUPPORT SUPP.1
10527
SUPP. 2
10183
PIVOT
10753
Coriander short term
trend is up, further
more upside is expected
in coming days.RESISTAN
CE
RES. 1
11097
RES. 2
11323
CASTORSEED
MAY 3663 3803 3646 3789 +3.61 91170
INTRADAY
LEVELS
SUPPORT SUPP. 1
3689
SUPP. 2
3589
PIVOT
3746
Castorseed short term
trend is up, Prices
expected to go up in
coming days.RESISTAN
CE
RES. 1
3846
RES. 2
3903
TURMERIC
MAY 8450 8480 8316 8346 -1.23 10275
INTRADAY
LEVELS
SUPPORT SUPP. 1
8181
SUPP. 2
8217
PIVOT
8381
Turmeric short term
trend is up and may
continue in coming
days.RESISTAN
CE
RES. 1
8445
RES. 2
8545
GUARGUM
MAY 11680 12310 11630 12290 +5.77 19084
INTRADAY
LEVELS
SUPPORT SUPP. 1
11843
SUPP. 2
11397
PIVOT
12077
Guargum Short term
trend is up, Expecting
price may go up in
coming days.RESISTAN
CE
RES. 1
12523
RES. 2
12757
Most Active Contract
3
TOP GAINERS
SYMBOL EXPIRY DATE
CURRENT
PRICE
CHANGE
CHANGE
%
CORIANDER 20-05-2015 10896.00 352.00 3.34%
BARLEY 20-05-2015 1218.00 30.50 2.57%
CASTOR SEED NEW 20-05-2015 3733.00 71.00 1.94%
SOYABEAN 19-06-2015 3972.00 72.00 1.85%
CHANA 20-05-2015 4031.00 63.00 1.59%
JEERA 20-05-2015 18475.00 145.00 0.79%
REFINED SOY OIL 19-06-2015 588.40 3.75 0.64%
RAPESEED-MUSTARD
SEED
20-05-2015 3707.00 17.00 0.46%
COTTON SEED OIL CAKE
AKOLA
20-05-2015 1746.00 4.00 0.23%
V 797 KAPAS 30-04-2015 805.00 1.50 0.19%
NCDEX INDICES
Index Value
Pre.
Close
%
Change
CASTORSEED 3789 3657 +3.61
CHANA 4045 3967 +1.97
CORIANDER 10870 10584 +2.7
GUARGUM 12290 11620 +5.77
JEERA 18405 18460 -0.3
MUSTARD SEED 3730 3697 +0.89
SOYABEAN 3977 3918 +1.51
TURMERIC 8346 8450 -1.23
TOP LOSERS
SYMBOL EXPIRY DATE
CURRENT
PRICE
CHANGE
CHANGE
%
TURMERIC 20-05-2015 8360.00 -70.00 -0.83%
Commodities In News
4
ECONOMIC NEWS
 Pre monsoon Raindrops have started ringing alarm bell in North East
region and adjoining northern half of West Bengal, two of the worst
flood hit areas in the country. Once again flooding or inundation is likely
to shatter life and agri dependent economy in this region despite many
flood controlling projects.During 1st March to 15th April, sub Himalayan
West Bengal and Sikkim have received more than 20% above normal
rainfall while the figure for adjoining NE region is less than normal.
According to experts, suffering from heavy siltation, Ganges at this point
cannot hold its 25 lakh cusec monsoon hydroload any more. But, "To
manage that, none could arrange proper dredging that needs over Rs 200
crore,”The overall loss was estimated as of around Rs 15,000 crore in
addition to loss of more than 8,700 human lives and over 6 lakh
livestock. According to National Commission on Flood reports,
contribution of NER is also very high in national average annual loss of
Rs 1,000 crore due to flood. Also, there were Flood management
program outlay plan for Rs 8000 crore for 11th Plan period, GoI's
Critical flood control and anti-erosion schemes worth Rs 305 crore or
Brahmaputra anti erosion scheme of Rs 225 crore along with State Sector
scheme of Rs. 166.68 crore for NER and WestBengal.
 In order to check falling prices of sugar in domestic markets and
enable mills to clear mounting cane arrears of about Rs 20,000 crore, the
India government is planning to hike sugar import duty to 40% from the
current 25%.Import duty on both raw and refined sugar was raised to
25% from 15% last year, to bail out the cash-starved sugar .A consensus
also emerged on the issue of creating buffer stock, restructuring of loan,
promotion of ethanol output, export subsidy on white sugar among others
to help solve the current crisis faced by farmers and millers.Sugar futures
also managed to hold on as the spot prices in Delhi held up above Rs
2700per quintal mark. Mills are refusing to sell at lower rates and the
mosoon worries arealso keeping sentiments supported after mill gate
prices plummeted near seven year low fewweeks back. Sugar futures are
trading at Rs 2448 per quintal- unchanged on the day.
 A lower than expected Monsoon rainfall prediction by the IMD had a
bullish impact on Chana rates as the sowing of Kharif Pulses like Tur, Urad
and Moong are likely to get adversely affected. Higher imports and lower
production possibilities could lead to further firmness in prices even as they
find strong resistance near the 4000 levels.As per 2nd Advance Estimates
for 2014-15, total foodgrains 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 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.
 Lower than normal Monsoon report kept supporting the market
sentiments for Guar as rates shot up. Guar being a rain-sensitive crop,
adequate amount of rains are required for the crop. Prospects of lower
production this year along with rising Crude Oil prices, leading to
improved export demand could support price.Short term support is seen at
11200 and resistance at 12500. Intra day support is seen at 11600 and and
resistance at 11800,Due to lower prices, Indian export of Guar-gum has
increased. In first 11 month of 2014-15, export rose more than 21% to 6.62
lakh tons while in same period of 2013-14 only 5.45 lakh tons gum was
exported. During the whole financial year 2013-14 around 6.01 lakh ton
gum was exported which was a record till now. Export figure signals that
export may touch a level of 7 lakh ton in this financial year. Guargum for
May delivery was trading up 5.77 per cent to 12290 level on Thursday at
India's National Commodity&Derivatives Exchange(NCDEX).
5
Fundamental Watch : Sugar
SUGAR PRICES AT KEY SPOT MARKETNational Market Update
 India exported 69.2 thousand tons of sugar in the week ending 19th Apr, 2015 as
against 10 thousand tons of imports during the same period. Due to various trade
restrictions imparted by govt., Indonesia is expected to import only 2.95 million tons
of raw sugar in 2014-15. While, the country is forecasted to produce around 2.1
million tons of plantation white sugar during the same period. 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). the
government needs to intervene and purchase sugar from mills through TCP so that
payments can be made to the growers; otherwise, growers will switch to other crops in
the next season. Chairman Agri Forum Pakistan Ibrahim Mughal told Business
Recorder that the country had sufficient stocks of sugar at present and per month
domestic consumption of the commodity is 0.3 million tons while annual requirement
is 4.2 million tons. The government needs to allow export of surplus sweetener to
enable the industry to pay ` 38 billion to growers, sugar mills have so far produced 5.1
million tons of sugar and carryover stock from 2012-13 is 0.165 million tons. The total
stock with sugar mills is 5.25 million tons of which mills sold 1.70 million tons and
presently total sugar stock in hand is 3.5 million tons, sugarcane was cultivated in the
country on an area of 1,129,693 hectares in 2013-14 as compared to 1,128,095
hectares the previous year. According to him, there are 46 sugar mills in Punjab, 26 in
Sindh and eight in KP. In the current fiscal year, sugarcane production in Punjab
decreased while it remained stagnant in Khyber Pakhtunkhwa.
 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 23-Apr-15 22-Apr-15 Change
DELHI 2710 2750 -40
DHAMPUR 2650 2650 UNCH
MUMBAI 2772 2780 -8
KOLHAPUR 2500 2475 +25
VIJAYWADA 2960 2960 UNCH
NAGPUR NA NA -
KOLKATA 2800 2750 +50
Technical Outlook
6
BUY CORIANDER MAY ABOVE 10980 TARGET 11005 11045 SL
BELOW10955
SELL GUARGUM MAY BELOW 11930 TARGET 11880 11820 SL
ABOVE 11990
BUY TURMERIC MAY ABOVE 8272 TARGET 8312 8372 SL
BELOW 8212
BUY CASTORSEED MAY ABOVE 3800 TARGET 3825 3855 SL
BELOW 3775
Disclaimer
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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.
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DAILY AGRI COMMODITY REPORT

  • 1. DAILY AGRI COMMODITY REPORT 24 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 10665 10980 10410 10870 +2.70 38370 INTRADAY LEVELS SUPPORT SUPP.1 10527 SUPP. 2 10183 PIVOT 10753 Coriander short term trend is up, further more upside is expected in coming days.RESISTAN CE RES. 1 11097 RES. 2 11323 CASTORSEED MAY 3663 3803 3646 3789 +3.61 91170 INTRADAY LEVELS SUPPORT SUPP. 1 3689 SUPP. 2 3589 PIVOT 3746 Castorseed short term trend is up, Prices expected to go up in coming days.RESISTAN CE RES. 1 3846 RES. 2 3903 TURMERIC MAY 8450 8480 8316 8346 -1.23 10275 INTRADAY LEVELS SUPPORT SUPP. 1 8181 SUPP. 2 8217 PIVOT 8381 Turmeric short term trend is up and may continue in coming days.RESISTAN CE RES. 1 8445 RES. 2 8545 GUARGUM MAY 11680 12310 11630 12290 +5.77 19084 INTRADAY LEVELS SUPPORT SUPP. 1 11843 SUPP. 2 11397 PIVOT 12077 Guargum Short term trend is up, Expecting price may go up in coming days.RESISTAN CE RES. 1 12523 RES. 2 12757
  • 3. Most Active Contract 3 TOP GAINERS SYMBOL EXPIRY DATE CURRENT PRICE CHANGE CHANGE % CORIANDER 20-05-2015 10896.00 352.00 3.34% BARLEY 20-05-2015 1218.00 30.50 2.57% CASTOR SEED NEW 20-05-2015 3733.00 71.00 1.94% SOYABEAN 19-06-2015 3972.00 72.00 1.85% CHANA 20-05-2015 4031.00 63.00 1.59% JEERA 20-05-2015 18475.00 145.00 0.79% REFINED SOY OIL 19-06-2015 588.40 3.75 0.64% RAPESEED-MUSTARD SEED 20-05-2015 3707.00 17.00 0.46% COTTON SEED OIL CAKE AKOLA 20-05-2015 1746.00 4.00 0.23% V 797 KAPAS 30-04-2015 805.00 1.50 0.19% NCDEX INDICES Index Value Pre. Close % Change CASTORSEED 3789 3657 +3.61 CHANA 4045 3967 +1.97 CORIANDER 10870 10584 +2.7 GUARGUM 12290 11620 +5.77 JEERA 18405 18460 -0.3 MUSTARD SEED 3730 3697 +0.89 SOYABEAN 3977 3918 +1.51 TURMERIC 8346 8450 -1.23 TOP LOSERS SYMBOL EXPIRY DATE CURRENT PRICE CHANGE CHANGE % TURMERIC 20-05-2015 8360.00 -70.00 -0.83%
  • 4. Commodities In News 4 ECONOMIC NEWS  Pre monsoon Raindrops have started ringing alarm bell in North East region and adjoining northern half of West Bengal, two of the worst flood hit areas in the country. Once again flooding or inundation is likely to shatter life and agri dependent economy in this region despite many flood controlling projects.During 1st March to 15th April, sub Himalayan West Bengal and Sikkim have received more than 20% above normal rainfall while the figure for adjoining NE region is less than normal. According to experts, suffering from heavy siltation, Ganges at this point cannot hold its 25 lakh cusec monsoon hydroload any more. But, "To manage that, none could arrange proper dredging that needs over Rs 200 crore,”The overall loss was estimated as of around Rs 15,000 crore in addition to loss of more than 8,700 human lives and over 6 lakh livestock. According to National Commission on Flood reports, contribution of NER is also very high in national average annual loss of Rs 1,000 crore due to flood. Also, there were Flood management program outlay plan for Rs 8000 crore for 11th Plan period, GoI's Critical flood control and anti-erosion schemes worth Rs 305 crore or Brahmaputra anti erosion scheme of Rs 225 crore along with State Sector scheme of Rs. 166.68 crore for NER and WestBengal.  In order to check falling prices of sugar in domestic markets and enable mills to clear mounting cane arrears of about Rs 20,000 crore, the India government is planning to hike sugar import duty to 40% from the current 25%.Import duty on both raw and refined sugar was raised to 25% from 15% last year, to bail out the cash-starved sugar .A consensus also emerged on the issue of creating buffer stock, restructuring of loan, promotion of ethanol output, export subsidy on white sugar among others to help solve the current crisis faced by farmers and millers.Sugar futures also managed to hold on as the spot prices in Delhi held up above Rs 2700per quintal mark. Mills are refusing to sell at lower rates and the mosoon worries arealso keeping sentiments supported after mill gate prices plummeted near seven year low fewweeks back. Sugar futures are trading at Rs 2448 per quintal- unchanged on the day.  A lower than expected Monsoon rainfall prediction by the IMD had a bullish impact on Chana rates as the sowing of Kharif Pulses like Tur, Urad and Moong are likely to get adversely affected. Higher imports and lower production possibilities could lead to further firmness in prices even as they find strong resistance near the 4000 levels.As per 2nd Advance Estimates for 2014-15, total foodgrains 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 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.  Lower than normal Monsoon report kept supporting the market sentiments for Guar as rates shot up. Guar being a rain-sensitive crop, adequate amount of rains are required for the crop. Prospects of lower production this year along with rising Crude Oil prices, leading to improved export demand could support price.Short term support is seen at 11200 and resistance at 12500. Intra day support is seen at 11600 and and resistance at 11800,Due to lower prices, Indian export of Guar-gum has increased. In first 11 month of 2014-15, export rose more than 21% to 6.62 lakh tons while in same period of 2013-14 only 5.45 lakh tons gum was exported. During the whole financial year 2013-14 around 6.01 lakh ton gum was exported which was a record till now. Export figure signals that export may touch a level of 7 lakh ton in this financial year. Guargum for May delivery was trading up 5.77 per cent to 12290 level on Thursday at India's National Commodity&Derivatives Exchange(NCDEX).
  • 5. 5 Fundamental Watch : Sugar SUGAR PRICES AT KEY SPOT MARKETNational Market Update  India exported 69.2 thousand tons of sugar in the week ending 19th Apr, 2015 as against 10 thousand tons of imports during the same period. Due to various trade restrictions imparted by govt., Indonesia is expected to import only 2.95 million tons of raw sugar in 2014-15. While, the country is forecasted to produce around 2.1 million tons of plantation white sugar during the same period. 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). the government needs to intervene and purchase sugar from mills through TCP so that payments can be made to the growers; otherwise, growers will switch to other crops in the next season. Chairman Agri Forum Pakistan Ibrahim Mughal told Business Recorder that the country had sufficient stocks of sugar at present and per month domestic consumption of the commodity is 0.3 million tons while annual requirement is 4.2 million tons. The government needs to allow export of surplus sweetener to enable the industry to pay ` 38 billion to growers, sugar mills have so far produced 5.1 million tons of sugar and carryover stock from 2012-13 is 0.165 million tons. The total stock with sugar mills is 5.25 million tons of which mills sold 1.70 million tons and presently total sugar stock in hand is 3.5 million tons, sugarcane was cultivated in the country on an area of 1,129,693 hectares in 2013-14 as compared to 1,128,095 hectares the previous year. According to him, there are 46 sugar mills in Punjab, 26 in Sindh and eight in KP. In the current fiscal year, sugarcane production in Punjab decreased while it remained stagnant in Khyber Pakhtunkhwa.  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 23-Apr-15 22-Apr-15 Change DELHI 2710 2750 -40 DHAMPUR 2650 2650 UNCH MUMBAI 2772 2780 -8 KOLHAPUR 2500 2475 +25 VIJAYWADA 2960 2960 UNCH NAGPUR NA NA - KOLKATA 2800 2750 +50
  • 6. Technical Outlook 6 BUY CORIANDER MAY ABOVE 10980 TARGET 11005 11045 SL BELOW10955 SELL GUARGUM MAY BELOW 11930 TARGET 11880 11820 SL ABOVE 11990 BUY TURMERIC MAY ABOVE 8272 TARGET 8312 8372 SL BELOW 8212 BUY CASTORSEED MAY ABOVE 3800 TARGET 3825 3855 SL BELOW 3775
  • 7. 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 stocks recommended. It is understood that anyone who is browsing through the site has done so at his free will and does not read any views expressed as a recommendation for which either the site or its owners or anyone can be held responsible for. Any surfing and reading of the information is the acceptance of this disclaimer. All Rights Reserved.  Investment in equity & bullion market has its own risks.  We, however, do not vouch for the accuracy or the completeness thereof. we are not responsible for any loss incurred whatsoever for any financial profits or loss which may arise from the recommendations above epic research does not purport to be an invitation or an offer to buy or sell any financial instrument. Our Clients (Paid Or Unpaid), Any third party or anyone else have no rights to forward or share our calls or SMS or Report or Any Information Provided by us to/with anyone which is received directly or indirectly by them. If found so then Serious Legal Actions can be taken.