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1. WEEKLY AGRI COMMODITY REPORT
26 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
NOV 11741 12150 10904 10904 -7.61 14160
INTRADAY
LEVELS
SUPPORT SUPP.1
10489
SUPP. 2
10073
PIVOT
11319
Coriander short term
trend is bullish and may
continue in coming
days.RESISTAN
CE
RES. 1
11735
RES. 2
12565
CASTORSEED
NOV 3987 4176 3980 4070 +2.39 119740
INTRADAY
LEVELS
SUPPORT SUPP. 1
3975
SUPP. 2
3879
PIVOT
4075
Castorseed short term
trend is bearish and
may continue in
coming days.RESISTAN
CE
RES. 1
4171
RES. 2
4271
TURMERIC
NOV 8012 8498 7998 8446 +6.29 29340
INTRADAY
LEVELS
SUPPORT SUPP. 1
8130
SUPP. 2
7814
PIVOT
8314
Turmeric short term
trend is bearish and
may continue in coming
days.RESISTAN
CE
RES. 1
8630
RES. 2
8814
GUARGUM
NOV 8100 8570 7960 8290 +0.12 23209
INTRADAY
LEVELS
SUPPORT SUPP. 1
7977
SUPP. 2
7663
PIVOT
8273
Guargum Short term
trend is bullish and
may continue in
coming days.RESISTAN
CE
RES. 1
8587
RES. 2
8883
4. Commodities In News
4
ECONOMIC NEWS
With dal prices ruling at above Rs 200 per kg in the retail markets, the
Centre will start procuring 40,000 tonnes of pulses directly from farmers
through NAFED and SFAC starting November.The procured pulses will
be used to create buffer stock and the Cabinet note is being moved in this
regard, and if required the Centre may also import lentils, Agriculture
Secretary Siraj Hussain told a leading newspaper.In the national capital,
imported tur dal is being sold at a subsidised rate of Rs 120 per kg at
nearly 500 outlets of Kendriya Bhandar and Safal."The government has
decided to create buffer stock of pulses by procuring from farmers and also
by importing if required. Pulses including tur, chana and urad will be
procured directly from farmers in major producing districts," Hussain
said.The Secretary further said the three agencies NAFED, FCI and SFAC
will procure on behalf of the Centre.Nafed will procure from state
cooperatives, FCI from state government organisations and SFAC from
farmer producer organisations."It has been decided that 30,000 tonnes will
be procured by Nafed and 10,000 tonnes will be procured by SFAC, The
procurement will start from first week of November. And a Cabinet is
being moved in this regard by the Agriculture Ministry," Hussain
said.Around 5,000 tonnes of pulses have already been imported and are
being distributed to the states and another 3,000 tonnes are on the way,
Finance Minister Arun Jaitley said .Around 35,000 tonnes of pulses have
been seized from 10 states in two days after the state governments
intensified crackdown against hoarding and black marketing of the
commodity, Jaitley said.Prices have shot up due to a fall in output by two
million tonnes in 2014-15 on deficient and untimely rains.To control
skyrocketing prices, the Centre has taken several measures such as
creating a buffer stock of 40,000 tonnes, sale of imported pulses at cheaper
rates and imposition of stock limits on traders as well as departmental
stores, licensed food processors, importers and exporters.
Mustard seed gained on improved demand and on speculation of lower
supply in international and domestic market. There is good demand from
traders and stockists on limited supplies, as there is anticipation of export
demand for meal from China. The rise in mustard oil demand by major
consuming region of eastern India during the festive season is encouraging
higher buying by crushing units. Prices were supported on 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. RM seed prices were also supported on supply
worries after USDA reported global rapeseed production forecast to decline
3.5 million tons in 2015/16 as a slight decrease in area reduces total output to
68.1 million tons.
Turmeric prices gained due to arrival of good quality turmeric at the spot
market and expectations of higher demand from upcountry exporters ahead
of festival season. However upside seen limited amid higher production due
to good rains in second part of September in southern peninsula region.
Good rains in second part of September in southern peninsula region may
enhance the turmeric production and quality.Turmeric sowing In AP, is
recorded at 15,753 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 on profit booking after prices seen supported by
improved demand in domestic market due to festive season. India vegetable
oil imports rose 16.34% to 1.21 million tons in Sep compared to 1.04 million
tons for the same period year ago, data showed. The overall imports of
vegetable oils during November 2014 to September 2015 jumped 22% to
12.94 million tons compared to 10.57 million tons in the same period a year
ago.
5. 5
NEWS RECAP
COMMODITY HEADLINES
Agriculture experts to try organic farming in Leh-Ladakh region.
Task force moots idea of price stabilisation fund for farmers.
Centre to procure pulses directly from farmer starting November.
Stock limit could spoil India's pulse imports plan: Trade body.
Sugarcane crushing in Uttar Pradesh, Maharashtra likely to begin on time next month.
Under pressure from Centre, state governments carry out raids on pulses traders.
Government may pay sugarcane growers direct to help mills.
Complete irrigation well project in suicide-prone districts: Chief Secretary.
Government outlets sell over 200 quintal imported tur at Rs 120/kg.
Centre may end stock limit exemption for dal exporters.
Pulses: Government to create 40,000 tons of buffer stock to check prices.
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