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1. WEEKLY AGRI COMMODITY REPORT
19 OCTOBER 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
OCT 11900 12455 11900 12080 -0.12 97800
INTRADAY
LEVELS
SUPPORT SUPP.1
11835
SUPP. 2
11590
PIVOT
12145
Coriander short term
trend is bullish and may
continue in coming
days.RESISTAN
CE
RES. 1
12390
RES. 2
12700
CASTORSEED
OCT 4151 4196 4090 4107 -0.80 284620
INTRADAY
LEVELS
SUPPORT SUPP. 1
4006
SUPP. 2
3905
PIVOT
4101
Castorseed short term
trend is bearish and
may continue in
coming days.RESISTAN
CE
RES. 1
4202
RES. 2
4297
TURMERIC
OCT 8080 8460 7962 8024 -0.12 82865
INTRADAY
LEVELS
SUPPORT SUPP. 1
7837
SUPP. 2
7651
PIVOT
8149
Turmeric short term
trend is bullish and may
continue in coming
days.RESISTAN
CE
RES. 1
8335
RES. 2
8647
GUARGUM
OCT 8950 9170 8410 8410 -5.82 73331
INTRADAY
LEVELS
SUPPORT SUPP. 1
8157
SUPP. 2
7903
PIVOT
8663
Guargum Short term
trend is bullish and
may continue in
coming days.RESISTAN
CE
RES. 1
8917
RES. 2
9423
4. Commodities In News
4
ECONOMIC NEWS
Prices of pulses have skyrocketed over the past 12 months, with tur dal
rates more than doubling to touch an all-time high. It is trading in
wholesale markets at Rs 190 per kg at the moment against Rs 90 in
October 2014; retail prices are another Rs 20-30 higher. Following close
on its heels is urad dal, which is going at a wholesale rate of Rs 160 per kg
(Rs 85 last year).Market watchers blame the price rise on a variety of
reasons—from erratic weather and a poor crop to hoarding by middlemen,
MNCs and the mega retail chains —and claim the situation has turned
worse in the festive season as the state government failed to react swiftly
to the Centre's warnings of a price spiral.Comparatively, the increase in
masoor dal price has been far more modest, from Rs 70 to Rs 90 in
wholesale. With tur and urad retailing at Rs 220 and Rs 180 per kg,
respectively, consumers' monthly budget has gone for a toss. Dal, a major
source of protein for the common man, particularly the vegetarians, is
proving to be a luxury."We will not be able to buy theamount of dal that
we need monthly due to the unwarranted price rise and that too during the
festive season. It's shocking that retailers are making a killing out of an
artificial shortage," said a housewife.This year crops were damaged in
pulses-producing areas like Jalna, Nagpur, Latur and Dhule due to
hailstorm, unseasonal rain and erratic monsoon, leading to curtailed
supply. "Apart from these natural factors, farmers have lost interest in
pulses due to high production cost that leads to less profit," said a
farmer.Long-time traders and market experts allege that domestic hoarders
seem to be the key players responsible for the rising prices, besides new
market entrants like MNCs and large firms which are into trading.
"Multinationals and retail chains have become the new market regulators
who enjoy enough liberty to singlehandedly control the market. They pour
huge money to buy the crops directly from farmers at cheaper rates and
pile up stocks to create artificial market demand," said Jayesh Vora."The
absence of an appropriate market monitoring mechanism by the
government has encouraged these new players to dominate the market and
monopolize it," said Kirti Rana, a member of the Navi Mumbai Merchant
Association.
Mustard Seed settled down on profit booking despite of speculation of
lower supply in international and domestic market. The rise in mustard oil
demand by major consuming region of eastern India during the festive
season is encouraging higher buying by crushing units. Downside seen
limited due to supply worries after Indian Meteorological Department (IMD)
reported that from the beginning of Oct Rajasthan has not received any
rainfall which is likely to affect rabi sowing of rm seed.According to MOPA,
the production of mustard for 2014-15 has been lowered to 49 lakh tonnes,
which was earlier forecasted at 57.4 lt. As per the latest SEA data, the
shipment of rapeseed meal exports increased m-o-m to 60,211 tonnes in Sep
compared to 49,788 tonnes in Aug.
Turmeric settled down by tracking weakness in spot demand amid heavy
arrivals from producing belts. Good rains in second part of September in
southern peninsula region may enhance the turmeric production and quality.
Turmeric sowing area reported high in Maharashtra and Tamil Nadu state
during the current sowing period. As per dept of commerce data, turmeric
exports during April-Jul, 2015 pegged at 32,158 tonnes while the export for
the 2014-15 is 90,738 tonnes compared to 78,360 tonnes in FY14.Turmeric
sowing In AP, is recorded at 15,664 hectares increase over last years’
acreage as well normal sowing area progress however in Telangana, the
sowing area is lower than the normal sowing area at 40,823 hac compared to
43,470 hac last year.
Ref Soya oil settled down tracking weakness in spot demand amid profit
booking. However downside seen limited after USDA in its WASDE report
trimmed Indian soyoil production by 5.5%. India soybean oil imports
climbed 99.39% in September after local demand of edible oils rose due to
lack of domestic crushing, data release from the Solvent Extractors
Association (SEA) of India showed.
5. 5
NEWS RECAP
COMMODITY HEADLINES
Tur dal set new record at Rs 205/kg in wholesale.
Government promotes hydroponic for growing fodder amid water scarcity.
Hybrid seed producers want government to move CCI against Mahyco Monsanto.
Government trying hard to contain surge in pulses prices, plans to boost supply via imports.
Indian drought: Bonanza for Canadian growers of pulses.
Tamil Nadu sugar mills hope rising prices will settle farmers' arrears.
Crop failure and below normal rains brings down farmers purchasing power.
Government fixes sugar export quota to EU & US for this year.
All paddy varieties must be under MSP mechanism: Minister Birender Singh.
Wholesale onion prices fall below Rs 30/kg at Lasalgaon.
Cotton output in Punjab, Haryana to dip 40% due to pest attack.
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