1. WEEKLY AGRI COMMODITY REPORT
22 FEBRUARY 2016
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2. Weekly Wrap Up
2
MONTH OPEN HIGH LOW CLOSE % CHG VOL MONTH OPEN HIGH LOW CLOSE % CHG VOL
CORIANDER
APR 6800 7054 6611 6639 -1.79 33960
INTRADAY
LEVELS
SUPPORT SUPP.1
6482
SUPP. 2
6325
PIVOT
6768
Coriander short term
trend is bearish and
may continue in coming
days.RESISTAN
CE
RES. 1
7925
RES. 2
7211
CASTORSEED
- - - - - - -
INTRADAY
LEVELS
SUPPORT SUPP. 1
-
SUPP. 2
-
PIVOT
-
-
RESISTAN
CE
RES. 1
-
RES. 2
-
TURMERIC
APR 8660 8996 8440 8744 +0.05 67570
INTRADAY
LEVELS
SUPPORT SUPP. 1
8457
SUPP. 2
8171
PIVOT
8727
Turmeric short term
trend is bearish and
may continue in coming
days.RESISTAN
CE
RES. 1
9013
RES. 2
9283
GUARGUM
MAR 5730 5930 5680 5750 +1.05 66694
INTRADAY
LEVELS
SUPPORT SUPP. 1
5643
SUPP. 2
5537
PIVOT
5787
Guargum Short term
trend is bearish and
may continue in
coming days.RESISTAN
CE
RES. 1
5893
RES. 2
6037
4. Commodities In News
4
ECONOMIC NEWS
A digital platform for enabling farmers to sell their produce at a better
rate anywhere in the country will be launched on April 14, Prime Minister
Narendra Modi announced as he resolved to ensure doubling of the
farmers' income by 2022.Modi, who unveiled guidelines for the recently-
launched Prime Minister's Crop Insurance Scheme at a rally here, said this
was one of the various initiatives of his government aimed at ensuring the
welfare of the farmers who have been in distress due to vagaries of
weather.Besides the Crop Insurance Scheme, he spoke about Soil Health
Card scheme, PM's Irrigation Scheme, Organic farming, ensuring adequate
availability of urea and ethanol-blending programme to help the sugarcane
farmers and also pitched for 'Start-Up' initiatives in agriculture sector.He
pushed for more and more use of modern technology and equipment along
with traditional wisdom of farming to boost the agriculture sector, not only
to meet the domestic needs but also cater to the demands from abroad."We
want to integrate technology in the agriculture sector. There should be a
mix of progressive farming and age-old wisdom," the Prime Minister
said.Noting that the farmers do not get adequate price for his produce
despite working hard as he has no choice but to sell in the nearby mandis,
he said the government has decided to address this by adopting a digital
mechanism."We are setting up a National Agriculture Market, a virtual
and digital platform, in the coming days on April 14, the birth anniversary
of B R Ambedkar, we will launch the online platform," Modi said at the
rally which was attended by union ministers Sushma Swaraj, Radha
Mohan Singh, Chief Minister Shivraj Singh Chouhan besides others.He
said this platform will enable the farmers, using a mobile phone, to sell
their produce anywhere in the country, wherever they can get a better
price.At the rally, the Prime Minister said all states as well as agriculture
community should take a pledge to double the farmers' income by 2022,
the 75th year of the country's Independence. "We will do whatever is
required achieve this."Under the e-agri platform, the government is
working towards integrating all the 585 wholesale mandis of the country
by 2018 in a phased manner, for which Rs 200 crore have been earmarked
as of now.In the first phase, 200 mandis will be integrated by this March-
end while another 200 will be connected to the online platform in 2017.
Turmeric settled down due to increased supply of new crop from the
producing belts. There are reports of production concern due to drought in
Maharashtra and Andhra Pradesh. There is concern over production due to
heavy rains during Nov-Dec in south India. Deficient rainfall in during early
part of sowing in major Turmeric growing regions of Maharashtra and
Karnataka may reduce the yield.The arrival of new turmeric has improved at
Erode. Around 1000 bags of new turmeric arrived and all were sold at a
higher price. Few bags of hybrid turmeric also arrived for sale and fetched
Rs. 10,100 a quintal. At the Erode Turmeric Merchants Association, the
finger turmeric was sold at Rs. 7,859-9,659 a quintal and the root variety at
Rs. 7,459-9,100. Of the 1,292 bags offered, 847 were sold. As per dept of
commerce data, turmeric exports until November 2015 pegged at 50,916
tonnes while the export for the 2014-15 is 90,738 tonnes compared to 78,360
tonnes in FY14. As on latest sowing data, turmeric sowing In AP, Telangana
is lower than the normal sowing area.
Rmseed settled down on profit booking after prices seen supported on
expectation of good demand for the new season crop. India's mustard output
is seen rising for the first time in three years at 6.84 mt as per 2nd advance
estimates by Dept of Agriculture. Last year, the production was 6.31 mt. As
per latest government data release, area coverage of RM seed this year is
little lower at 64.8 lakh hectare (lh) compared to 65.14 lh sown in last
year.According to official estimates, mustard sowing has doubled in Uttar
Pradesh from the last season; there is a slight increase in Punjab and Haryana
whereas in sowing in Rajasthan has declined by 5-10 % due to warmer Oct/
Nov and scanty rains. According to latest Feb’16 USDA report, Global
rapeseed production is projected at 67.68 mt, lower by 0.04 mt compared to
last month’s forecast. Global rapeseed exports for 2015/16 are forecast
130,000 tons higher this month to 13.5 mt, still below last year’s 15 mt.
5. 5
NEWS RECAP
COMMODITY HEADLINES
Digital farm market platform to be launched on April 14: PM Modi.
Urea imports up by 11% to 81.25 lakh tonnes.
Cabinet gives ex-post facto approval to 13 MoUs on agriculture.
Sugar production by mid-Feb up 3.6 percent: ISMA.
Cumin exporters demand more protection for farmers.
India wants imported corn to be GMO-free.
Wheat output may rise 8.42% to 94 MT in 2015-16.
Government buys 8 lakh bales of cotton this year; not to buy more.
Government fixes wheat procurement target at 30 million tonnes for 2016-17.
Foodgrain output likely to increase to 253 million tonnes in 2015-16.
91% land holding would belong to small farmers by 2030: Radha Mohan Singh.
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