This daily commodity report provides information on price movements and trading levels for various agricultural commodities. It notes that coriander and guargum prices increased over the past month, while turmeric and castorseed prices decreased. It provides contact information for Epic Research and its global offices. Fundamental drivers mentioned include government measures to support sugar producers in India, declining guar arrivals, and quality concerns for coriander and turmeric crops. Technical trading recommendations are given for several contracts.

1. DAILY AGRI COMMODITY REPORT
05 May 2015
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2. Market Views
2
MONTH OPEN HIGH LOW CLOSE % CHG VOL MONTH OPEN HIGH LOW CLOSE % CHG VOL
CORIANDER
MAY 10151 10507 10132 10400 +2.94 27420
INTRADAY
LEVELS
SUPPORT SUPP.1
10186
SUPP. 2
9971
PIVOT
10346
Coriander short term
trend is up and may
continue in coming
days.RESISTAN
CE
RES. 1
10561
RES. 2
10721
CASTORSEED
MAY 3670 3720 3670 3694 +0.38 50390
INTRADAY
LEVELS
SUPPORT SUPP. 1
3669
SUPP. 2
3645
PIVOT
3695
Castorseed short term
trend is down and may
continue in coming
days..RESISTAN
CE
RES. 1
3719
RES. 2
3745
TURMERIC
MAY 8362 8450 8262 8300 -0.74 15425
INTRADAY
LEVELS
SUPPORT SUPP. 1
8225
SUPP. 2
8149
PIVOT
8337
Turmeric short term
trend is down and may
continue in coming
days.RESISTAN
CE
RES. 1
8413
RES. 2
8525
GUARGUM
MAY 11690 11920 11450 11760 +1.55 13292
INTRADAY
LEVELS
SUPPORT SUPP. 1
11500
SUPP. 2
11240
PIVOT
11710
Guargum short term
trend is up and may
continue in coming
days.RESISTAN
CE
RES. 1
11970
RES. 2
12180

3. Most Active Contract
3
TOP GAINERS
SYMBOL EXPIRY DATE
CURRENT
PRICE
CHANGE
CHANGE
%
SOYABEAN 19-06-2015 4074.00 105.00 2.65%
CORIANDER 20-05-2015 10400.00 262.00 2.58%
RAPESEED-MUSTARD
SEED
20-05-2015 3822.00 37.00 0.98%
CASTOR SEED NEW 20-05-2015 3694.00 19.00 0.52%
REFINED SOY OIL 19-06-2015 585.60 2.45 0.42%
BARLEY 20-05-2015 1265.50 3.50 0.28%
COTTON SEED OIL CAKE
AKOLA
20-05-2015 1823.00 4.00 0.22%
NCDEX INDICES
Index Value
Pre.
Close
%
Change
CASTORSEED 3694 3680 +0.38
CHANA 4201 4204 -0.07
CORIANDER 10400 10103 +2.94
GUARGUM 11760 11580 +1.55
JEERA 17650 17895 -1.37
MUSTARD SEED 3822 3786 +0.95
SOYABEAN 4074 3973 +2.54
TURMERIC 8300 8362 -0.74
TOP LOSERS
SYMBOL EXPIRY DATE
CURRENT
PRICE
CHANGE
CHANGE
%
JEERA 20-05-2015 17650.00 -210.00 -1.18%
TURMERIC 20-05-2015 8300.00 -42.00 -0.50%
CHANA 20-05-2015 4201.00 -4.00 -0.10%

4. Commodities In News
4
ECONOMIC NEWS
 The government on Wednesday announced a number of steps to
support local sugar producers grappling with excess output and low
prices, and help them pay arrears totalling over Rs 20,000 crore to cane
farmers.It increased the import duty on sugar to 40 per cent from 25 per
cent and withdrew duty-free imports of raw sugar. Both measures are
aimed at curbing supplies from overseas to support local prices. It also
removed a 12.36% excise duty levied on ethanol supplied for blending
with petrol. Ethanol is added to petrol as a green measure to reduce the
use of fossil fuel.Sugar producers need to pay state-set prices for cane.
Ex-mill sugar prices are at a six-month low after another year of surplus
production and abundant supplies in the global market. Because of this,
mills say they are unable to pay the arrears, which totalled Rs 20,099
crore as on March 31. the immediate need of the industry is reducing a
surplus of 3.5 million tonne of sugar, which is blocking almost . 10,000
crore of cash flows for the ` industry . He wants the government to buy
this sugar.The increase in import duty would curb imports due to any
drop in global prices, said the government. Under the withdrawal of
duty-free import authorisation scheme, refiners are allowed to import
raw sugar, refine it and then export. The government reduced the time
for completing exports under its advanced authorisation scheme to six
months from 18 months, to prevent any possibility of it leaking into the
local market. Non-payment could lead cane farmers to switch to other
crops, reducing local sugar production and driving up prices, a situation
that develops every few years in India Cane arrears to farmers have
touched Rs 21,000 crore as sugar mills are facing difficulty in making
payments due to low sugar prices and high cost of production.Sugar
output is estimated to cross 27 million tonnes in the 2014-15 marketing
year (October-September), as against 24.3 million tonnes in the
previous year. The annual domestic demand is about 24.8 million tonne.
the Centre had in August last year hiked the import duty on both raw
and refined sugar to 25 per cent from 15 per cent. In February this year,
it provided a subsidy of Rs 4,000 per tonne for the exports of 1.4
million tonnes of raw sugars.
 Guarseed continued to ease as stockists refrained from buying after
massive gains in the last few sessions. The demand for seeds stalled in the
local markets even as arrivals remained thin. The pace of arrivals is set to
weaken in major guar producing mandies in coming weeks and output in
next season starting from June could be severely hit it monsoon plays truant.
The daily guarseed arrivals have reduced in local mandies from 55-60
thousand bags last year to around just 35 thousand bags today. The
commodity had soared to its one year high of Rs 5240 per quintal in Jodhpur
earlier this week but has retreated thereafter.
 Coriander stayed supported amid quality worries though is getting thin as
prices linger at three month highs. The commodity has gained in last few
weeks amid worries that rainfall in Rajasthan would affect the quality of the
crop arriving in local mandies. The commodity has been on an upward
trajectory in last few days on lack of good quality crops even as arrivals
remained steady. Spot prices linger at Rs 9701 per quintal in Kota, up Rs 60
per quintal on the day.
 Coriander stayed supported amid quality worries though is getting thin as
prices linger at three month highs. The commodity has gained in last few
weeks amid worries that rainfall in Rajasthan would affect the quality of the
crop arriving in local mandies. The commodity has been on an upward
trajectory in last few days on lack of good quality crops even as arrivals
remained steady. Spot prices linger at Rs 9701 per quintal in Kota, up Rs 60
per quintal on the day.
 Turmeric stays supported as growers are refusing to sell at lower levels.
Traders are eying the crop in Maharashtra nervously after the recent rainfall
and hailstorms. The commodity has stayed supported after falling to seven
week low last week one month back as upcountry demand supported.
However, over a medium term, traders are expecting further decline in the
coming days due to possibility of new supplies from other producing states,
primarily in Karnataka in near term. Spot prices are quoting at Rs 8086 per
quintal, almost unchanged on the day.

5. 5
Fundamental Watch : Cotton
COTTON ARRIVALS AT KEY SPOT
MARKET
National Market Update
 The government is intended to procure 11 million bales of cotton in the current
season ending in September. An ex-post facto approval by Cabinet Committee on
Economic Affairs has been granted to engage Maharashtra State Co-operative Cotton
Growers Marketing Federation (MSCCGMFL) as a sub agent of CCI to undertake
procurement operations. CCI is likely to procure 10 million bales in 2014-15 whereas
MSCCGMFL would procure one million bales. MSCCGMFL will procure cotton in
Maharashtra. Till date CCI has procured 8.7 million bales of cotton highest since
2008-09 when it was 89.35 million bales. Export of raw cotton from India has
declined during the period of Apr 2014-Feb 2015 by around 41.32% in terms of
quantity and 46.60% in terms of value when compared to corresponding period last
year, according to the government sources. Cotton association of India (CAI) has
revised the estimates for the cotton output in country at 391 lakh bales for the current
season. CAI had estimated cotton output at 396 lakh bales earlier in March, and
revised the same this month due to unusual rain occurred previous month. According
to CAI, around 318.4 lakh bales of cotton have arrived in the market till March end.
Around 79.5 lakh bales has been arrived in Mandis of Gujarat, 66.8 lakh bales has
been arrived Maharashtra. In central India which includes Gujarat, Maharashtra and
Madhya Pradesh, recorded the total arrival of 161.8 lakh bales till March end.
 Cotton prices in China have been rebounding marginally since mid April, on better
yarn sales of downstream companies. The benchmark cotton contract for September
delivery, which rose 0.22 percent by the end of Tuesday, surged to the highest of
13,530 yuan/tonne and hit the lowest of 13,355 yuan/tonne during Tuesday session,
recording a fluctuating range of nearly 200 yuan in a day, Around 12% of cotton
planting has been completed in USA as on April 26 this year, which was 8% last week
and 10% last year on same date, according to USDA. The five year average sowing
progress is 16% as on date, same as the current sowing pace. Price of US cotton is
surging up as there is strong demand for the quality fiber in the market. Australia has
harvested only the half of what it produced last year. Brazil crop is facing the quality
issues and India high quality crop has been held off the market.
CENTER 30-Apr-15 29-Apr-15 Change
AMRAVATI 200 300 -100
MAHESANA NA NA -
RAJKOT 1650 1100 +550
PATAN 2225 3130 +875
DEESA NA NA -
BHIWANI NA NA -
GONDAL 459 612 -153

6. Technical Outlook
6
BUY CORIANDER MAY ABOVE 10500 TARGET 10525 10565 SL
BELOW10475
BUY GUARGUM MAY ABOVE 11950 TARGET 12000 12060 SL
BELOW 11890
SELL TURMERIC MAY BELOW 8260 TARGET 8220 8160 SL
ABOVE 8320
BUY CASTORSEED MAY ABOVE 3730 TARGET 3755 3785 SL
BELOW 3705

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