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1. WEEKLY AGRI COMMODITY REPORT
07 DECEMBER 2015
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2. Weekly Wrap Up
2
MONTH OPEN HIGH LOW CLOSE % CHG VOL MONTH OPEN HIGH LOW CLOSE % CHG VOL
CORIANDER
JAN 10144 10240 9860 10032 -1.06 15760
INTRADAY
LEVELS
SUPPORT SUPP.1
9848
SUPP. 2
9664
PIVOT
10044
Coriander short term
trend is bullish and may
continue in coming
days.RESISTAN
CE
RES. 1
10228
RES. 2
10424
CASTORSEED
JAN 3970 3992 3893 3942 0.00 196500
INTRADAY
LEVELS
SUPPORT SUPP. 1
3893
SUPP. 2
3843
PIVOT
3942
Castorseed short term
trend is bullish and
may continue in
coming days.RESISTAN
CE
RES. 1
3992
RES. 2
4041
TURMERIC
JAN 10070 10306 9700 10180 +1.17 38310
INTRADAY
LEVELS
SUPPORT SUPP. 1
9818
SUPP. 2
9456
PIVOT
10062
Turmeric short term
trend is bullish and may
continue in coming
days.RESISTAN
CE
RES. 1
10424
RES. 2
10668
GUARGUM
JAN 6980 7010 6590 6710 -3.59 48710
INTRADAY
LEVELS
SUPPORT SUPP. 1
6530
SUPP. 2
6350
PIVOT
6770
Guargum Short term
trend is bullish and
may continue in
coming days.RESISTAN
CE
RES. 1
6950
RES. 2
7190
4. Commodities In News
4
ECONOMIC NEWS
Sowing of rabi crops like wheat has been affected due to both drought
and floods this year and the government is taking steps to minimise the
impact, Agriculture Minister Radha Mohan Singh said."Agricultural crops
have been affected for the third straight season due to adverse weather
conditions in last 18 months of the Modi government," Singh said while
addressing a farm machinisation event 'Agrimach' here.In 2014, kharif
(summer) crops were affected due to 12 per cent deficit rains, while rabi
(winter) crops like wheat got damaged due to unseasonal rains and
hailstorm, he said."This year too, kharif crops were affected due to drought
situation in the wake of 14 per cent deficit rains. Now, rabi crops are
facing both drought and floods," he said.The government is taking
measures to reduce the impact of such natural calamities, he said adding
"We cannot stop the natural calamities but we can reduce its impact with
use of new technologies and contingency plan."Sowing of rabi crops has
begun from October. The ongoing sowing operation of rabi crops has been
affected due to high temperature in some parts as well as floods in South
India, especially in Tamil Nadu.The total area sown to wheat and other
rabi crops is lagging behind at 317.96 lakh hectare till last week of the
ongoing rabi season compared with 372.61 lakh hectare in the year-ago
period, as per the government data.
Companies working in the food processing sector -- from Field Fresh to
Cargill -- feel more investment is required in farmland for building up
infrastructure and providing technology to farmers.They feel opening up
vegetable and fruit retailing to foreign invvestments would help farmers
get a better price, while consumers will get cheaper rates. Earlier this
week, food processing minister Harsimrat Kaur Badal while interacting
with a leading newspaper said foreign invvestments in foods, fruits,
agriculture and perishable processing will be a huge boost to the
sector."FDI in processing and retailing of fresh fruits and vegetables is a
great idea.
Guar rates stabilized at the lower levels as some bounce back from short
covering noted. No strong Bullish Fundamentals emerged inthe mandis. Low
exports, higher arrivals and stocks and falling Crude oil prices have been
keeping prices down for the last few months, with low signs of
recovery.India had exported 4874 tons of guar gum powder, 744 tons of guar
splits and 1380 tons of guar meal during the last week of October
2015,.Latest week export figure took the October month export to 21816
tonsof guar products. Out of the total guar exports, 13106 tons of Guargum,
3404 tons of Splits and 5306 tons of Guar meals exported in October 2015.
Last year India exported 33867 tons of Guar products at the same
period.Markets are unable to recover in present term, despite having fallen
from above 13000 to nearly 8000 levels. The new crop arrivals are
preventing markets from staging a decent recovery. Last 2 years of higher
production have ensured higher stocks for Guar this year, thus keeping
prices down. In Rajasthan, 2013-14 production was reportedly more than 28
lakh tons and 2014-15 production nearly 28 lakh tons.
Jeera settled up due to slow progress of sowing at the major producing
regions of Gujarat and Rajasthan. Though, fall in demand from retailers and
stockists and exports from India are likely to decline by about 40-45 per
cent, capped some gains. Gujarat, the top cumin producing state, has planted
less cumin until Nov 23, 2015 compared to last year sowing progress. In
Gujarat, jeera is planted in 46 % less area at 63,400 hectares compared to 1,
17,400 hectares last year same time.According to govt data, exports for
2015-16 shows a decline trend compared to last year until September .Geo-
political trouble in two major exporting countries – Syria and Turkey –
seems to have failed to spice up jeera exports from India due to higher
domestic price As per Department of commerce data, exports from India in
first five months of FY 2015-16 is 36,882 MT. Jeera exports from India are
likely to decline by about 40-45 per cent to around 85,000-1,00,000 tonnes
during 2015-16 compared to an estimated exports of around 1,55,000 tonnes
last year.
5. 5
NEWS RECAP
COMMODITY HEADLINES
Agriculture Ministry proposes further 5% hike in import duty of edible oil.
WTO meet at Nairobi: India to emphasise on subsidies, agriculture issues.
FDI in food processing will help farmers, say companies.
'India needs 333 MT grain production to meet demand by 2050‘.
Cotton exports may grow 18% in 2015-16: Union Textile Minister Santosh Gangwar.
Sugar production up 24% at 23.6 lakh tonnes in October-November: ISMA.
51,000 tonnes of seized pulses offloaded in retail market.
Rabi crops sowing hit by both floods & drought: Radha Mohan Singh.
Over 130,000 tonnes of pulses seized since imposition of stockholding limit.
Untimely rains destroy 90% crops; poppy farmers looking for alternatives.
Minister Ananth Kumar promises to resolve fertiliser subsidy arrears of Rs 40,000 crore.
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