Turmeric, coriander, and guargum futures prices declined over the past month according to the report. Support and resistance levels are provided for short-term trading. Foodgrain production is forecast to increase to a record in India due to normal monsoon and higher wheat, rice, and sugarcane output. The government is considering raising the wheat import duty and analyzing rubber policy to balance farmer and industry interests. Castorseed production is estimated to rise 34% in India. Small cardamom and turmeric prices declined at auctions.

1. 28-February-2018
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Agri Commodity Update

2. MONTH OPEN HIGH LOW CLOSE % CHG VOL
TURMERIC
APR 6750 6770 6636 6636 -1.63 22400
INTRADAY
LEVELS
SUPPORT SUPP.1
6591
SUPP. 2
6546
PIVOT
6680
Turmericshort term
trend is bearish and may
continue in coming days.
RESISTANCE
RES. 1
6725
RES. 2
6814
CORIANDER
APR 5514 5530 5460 5488 0.05 1750
INTRADAY
LEVELS
SUPPORT SUPP.1
5455
SUPP. 2
5422
PIVOT
5492
Coriander short term
trend is bearish and may
continue in coming days.
RESISTANCE
RES. 1
5525
RES. 2
5562
GUARGUM 5MT
MAR 9190 9240 9107 9140 -0.38 22400
INTRADAY
LEVELS
SUPPORT SUPP.1
9084
SUPP. 2
9029
PIVOT
9162
Guargum Short term
trend is bearish and may
continue in coming days.
RESISTANCE
RES. 1
9217
RES. 2
9294
CASTORSEED
- - - - - - -
INTRADAY
LEVELS
SUPPORT SUPP.1
-
SUPP.2
-
PIVOT
-
-
RESISTANC
E
RES. 1
-
RES. 2
-
Market Views
MONTH OPEN HIGH LOW CLOSE % CHG VOL
Agri Commodity Update

3. NCDEX INDICES
Index Value Pre. Close
%
Change
Castorseed 4054 4138 -2.03
Chana 3679 3755 -2.02
Coriander 5488 5485 0.05
Guargum5MT 9140 9175 -0.38
Jeera 14900 14945 -0.30
Musterseed 4066 4107 -1.00
Soybean 3727 3734 -0.19
Turmeric 6636 6746 -1.63
TOP GAINERS
Symbol Expiry Date Current Price Change Change %
WHEAT 20-04-2018 1760.00 20.00 1.15%
REF SOYA OIL 20-03-2018 754.05 1.50 0.20%
COTTON SEED OIL CAKE
AKOLA
20-03-2018 1545.00 3.00 0.19%
TOP LOSERS
Symbol Expiry Date Current Price Change Change %
CASTOR SEED 20-03-2018 4054.00 -96.00 -2.31%
CHANA 20-03-2018 3679.00 -86.00 -2.28%
TURMERIC 20-04-2018 6636.00 -114.00 -1.69%
RAPESEED-MUSTARD
SEED
20-04-2018 4066.00 -42.00 -1.02%
Most Active Contract
Agri Commodity Update

4. ECONOMIC NEWS
 India’s foodgrain production is forecast to grow to a record in the crop year
ending June 2018 after a normal monsoon and wider planting in winter, the
agriculture ministry said. Foodgrain output is expected to increase 0.9% to
277.49 million tonnes, exceeding the previous record of 275.11 million tonnes
during 2016-17, the ministry said in its second advance estimate of major
crops. Output of rice, pulses, coarse cereals, cotton and sugarcane is expected
to be higher this year, while wheat and oilseeds production may decline. The
first advance estimate was issued in September 2017. The third estimate will
be released by May and the fourth by August. “As a result of near-normal
rainfall during monsoon 2017 and various policy initiatives taken by the
government, country has witnessed record foodgrain production in the
current year,” the agriculture ministry said. Rice production is expected to
climb to a record 111.01 million tonnes this crop year, 1.2% higher than last
year’s output.
 The government is considering raising import duty on wheat from the current
20 per cent to discourage cheap shipments and give positive price signals to
farmers in the ongoing rabi season. Harvesting of the wheat crop has begun in
some states like Gujarat and will pick up pace after the Holi festival. "There is
no concern about wheat production. Even if we reach at last year's level, that
would be sufficient to meet domestic demand. We have enough buffer stock.
But the issue is how we protect farmers and ensure they get at least the MSP," a
senior government official told PTI. Wheat imports are not taking place even at
20 per cent import duty. Still, a proposal to raise customs duty on the grain is
being discussed as the government does not want local prices to come under
pressure during the peak harvesting period, the official said. The government's
main focus is to ensure farmers get at least the minimum support price (MSP).
"Therefore, we are weighing all options including raising import duty," the
official noted.
 The government is analysing the demand of Rubber growers for higher
prices against the needs of user industries in order to come up with a
balanced Rubber policy which is long over-due. The government will
weigh a lot of factors, many of them clashing with each other, before it
comes up with an appropriate policy response. Officials from the
Commerce Ministry have had detailed stakeholder consultations with both
Rubber growers and the manufacturing industry like tyre producers. It is a
complex situation as the manufacturing industry is highly dependent on
Rubber and sensitive to any price increase, whereas Rubber farmers are not
getting remunerative prices.
 A field crop survey, commissioned by the Solvent Extractors’
Association of India (SEA), sees India's Castor Seed production is likely to
increase by 34 percent to 14.3 lakh tonnes (lt) on a record 37 percent
increase in yield at 1,738 kg/ha. Survey also revealed that Gujarat’s acreage
under Castor edged up 2.9 per cent from 7,99,540 hectares in 2016-17 to
8,22,790 hectares for the 2017-18 kharif season. The higher crop estimates
was directly reflected on the price which have been volatile over the past
one month. Castor Seed futures tumbled on the National Commodity &
Derivatives Exchange (NCDEX) by about 2 percent to touch a low of Rs
4,116 per quintal for March delivery.
 The price of small Cardamom which was steady last week seem to be
decline at auctions held in Kerala and Tamil Nadu due to poor quality.
Exporters have also slowed down last week buying only around 70 tonnes.
Meanwhile, at the auction conducted by the Cardamom Planters
Association (CPA) of the 31 tonnes arrived here, 21 tonnes were traded.
The maximum price stood at Rs 1,103 a kg, while the auction average has
fallen to Rs 931.23. As the prices are vacillating between Rs 950 and Rs
1,000 a kg everybody is buying to meet their immediate requirements only.
Commodities In News
Agri Commodity Update

5. BUY CORIANDER APR ABOVE 5530 TARGET 5560 5600 5650 SL BELOW 5480 BUY TURMERIC APR ABOVE 6700 TARGET 6730 6770 6820 SL BELOW 6650
SELL GUARGUM5 FEB BELOW 9100 TARGET 9070 9030 8980 SL 9150
Technical Outlook
Agri Commodity Update

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