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DAILY AGRI COMMODITY REPORT
06 January 2015
HNI & NRI Sales Contact Australia
Mintara Road, Tarneit, Victoria. Post Code 3029
Phone.: +61 422 063855
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2117 Arbor Vista Dr. Charlotte (NC)
Cell: +1 704 249 2315
Toll Free Number
1-800-200-9454
All queries should be directed to
Info@epicresearch.co
1
Epic Research India
411 Milinda Manor (Suites 409- 417)
2 RNT Marg. Opp Central Mall
Indore (M.P.)
Hotline: +91 731 664 2300
Alternate: +91 731 664 2320
Or give us a missed call at
026 5309 0639
Our Presence
YOURMINTVISORY Call us at +91-731-6642300
Market Views
2
MONTH OPEN HIGH LOW CLOSE % CHG VOL MONTH OPEN HIGH LOW CLOSE % CHG VOL
DHANIYA
APR 8180 8449 8164 8284 +0.02 8100
INTRADAY
LEVELS
SUPPORT SUPP.1
8151
SUPP. 2
8017
PIVOT
8297
Dhaniya short term
trend is down, further
more downside is
expected in comimg
days.
RESISTAN
CE
RES. 1
8431
RES. 2
8577
CASTORSEED
FEB 4790 4810 4751 4788 -0.42 29120
INTRADAY
LEVELS
SUPPORT SUPP. 1
4757
SUPP. 2
4727
PIVOT
4784
Castorseed short term
trend is down, Prices
expected to go down in
coming days.RESISTAN
CE
RES. 1
4814
RES. 2
4841
TURMERIC
APR 9230 9410 9052 9094 -2.34 21055
INTRADAY
LEVELS
SUPPORT SUPP. 1
9053
SUPP. 2
8935
PIVOT
9255
Turmeric short term
trend is down and may
continue in coming
days.RESISTAN
CE
RES. 1
9373
RES. 2
9575
GUARGUM
FEB 12010 12470 11900 12270 +1.40 6204
INTRADAY
LEVELS
SUPPORT SUPP. 1
11957
SUPP. 2
11643
PIVOT
12213
Guargum Short term
trend is up, Expecting
price may go up in
coming days.RESISTAN
CE
RES. 1
12527
RES. 2
12783
Most Active Contract
3
TOP GAINERS
SYMBOL EXPIRY DATE
CURRENT
PRICE
CHANGE
CHANGE
%
CORIANDER 20-01-2015 11345.00 198.00 1.78%
BARLEY 20-01-2015 1635.00 20.00 1.24%
REFINED SOY OIL 20-01-2015 643.15 4.40 0.69%
SOYABEAN 20-01-2015 3360.00 14.00 0.42%
CHANA 20-01-2015 3468.00 13.00 0.38%
TOP LOSERS
SYMBOL EXPIRY DATE
CURRENT
PRICE
CHANGE
CHANGE
%
RAPESEED-MUSTARD SEED 20-01-2015 4120.00 -128.00 -3.01%
TURMERIC 20-04-2015 9094.00 -254.00 -2.72%
CASTOR SEED NEW 20-01-2015 4949.00 -76.00 -1.51%
JEERA 20-01-2015 15415.00 -140.00 -0.90%
GUR 20-01-2015 968.00 -4.00 -0.41%
NCDEX INDICES
Index Value
Pre.
Close
%
Change
CASTORSEED 4788 4808 -0.42
CHANA 3523 3544 -0.59
CORIANDER 8284 8282 +0.20
GUARGUM 12270 12100 +1.40
JEERA 15760 15630 +0.83
MUSTARD SEED 3502 3562 -1.68
SOYABEAN 3484 3481 +0.09
TURMERIC 9094 9312 -2.34
Commodities In News
4
ECONOMIC NEWS
The country's sugar production increased by 27.3 per cent to 7.46
million tonnes in the first three months of the current 2014-15 season,
but continuous fall in prices is a cause of concern for millers, industry
body ISMA said today.Sugar output stood at 5.86 million tonnes in the
October-December period of the 2013-14 season. Sugar season runs
from October to September.Expressing concern over falling ex-mill
prices of sugar, Indian Sugar Mills Association (ISMA) said that the
rates are "substantially below the cost of production" and it has
become difficult for mills to even pay the cane price to farmers within
stipulated period. In a statement, the industry body sought
continuation of export subsidy on raw sugar to check falling sugar
price and improve cane price paying capacity of industry. According
to the latest data released by ISMA, total sugar production has reached
7.46 million tonnes during the October-December period of the 2014-
15 season, as against 5.88 million tonnes in the year-ago. "This year's
production is slightly higher than last year mainly because the UP
mills started their crushing operations almost a week before last year.
Sugar recovery was also higher at 9.25 per cent till December 2014, as
against 8.75 per cent in the same period last year," ISMA said.The
output in Maharashtra, the country's top sugar producing state, has
increased by 47 per cent to 3.27 million tonnes from 2.23 million
tonnes in the review period. The production in Karnataka fell
marginally to 1.2 million tonnes from 1.23 million tonnes, while that
in Tamil Nadu showed a sharp decline to 65,000 tonnes from 1,62,000
tonnes in the review period. The output in Bihar increased to 1,80,000
tonnes during October-December of 2014-15 sugar season, as against
90,000 tonnes a year ago.At present, sugar mills are selling sugar at Rs
2,450-2,500 per quintal in Maharashtra and at Rs 2,600-2,650 per
quintal in Uttar Pradesh, During 2013-14 season, the country had
produced 24.4 million tonnes sugar and exported 2.11 million tonnes.
Turmeric futures dropped on the back of strong new supplies in local
mandies along with limited offtake by traders at higher levels. The NCDEX
AprilTurmeric futures ended the day at Rs 9094, down Rs 218 or 2.34% over
last close. Traders have reported strong arrivals of 15,000 bags at Erode
mandi. While 1,500 bags of new arrivals have been reported in Nizamabad
mandi. This will keep the prices under pressure in the near term. However,
traders stated that total turmeric production in the current year is estimated at
around 45-47 lakh tonnes, down almost 20-25 lakh bags from the last
year.Turmeric futures eased from the high of Rs 9,680 level made last week
andsettled the day at Rs 9094, down Rs 218 or 2.34% over last close. The
openinterest added 30 tonnes to 25,950 tonnes, indicating short selling.
Sugar output in India rose 27% in the first quarter of the current season
despite over a month of delay in commencement of crushing. Data compiled
by the apex industry body the Indian Sugar Mills Association (ISMA) shows
India’s sugar output at 7.46 million tonnes upto December 31, 2014 compared
to 5.86 million tonnes produced by sugar mills same period last year.Usually,
crushing of sugarcane begins in October. But, owing to delay in cane price
fixation and arrears payable by mills to farmers, factories delayed
commencement of cane crushing this season.By December 31, 2014, 481
sugar mills were in operation in the country as against 485 sugar mills
operated last year same period.
Jeera down on profit booking amidst subdued demand in the spot markets.
Further, sufficient stocks, following higher supplies from producing centers
which mainly kept pressure on jeera prices. Rains in parts of Rajasthan and
Gujarat are creating a selling pressure as rains at this stage are good for the
sown crop. Closure on many International markets too has adversely affected
the export demand for the time being. Short term trend likely to show some
more dips but as skies clear and exports rise next week. At Rajkot market
estimated market supply was at 960 quintals, higher by 180 quintals as
compared to previous day.
5
Fundamental Watch : Sugar
SUGAR PRICES AT KEY SPOT MARKETNational & International Market Update
Sugar prices traded down for the day amid higher supplies and
lower demand. Meanwhile, cold weather conditions especially in
UP is affecting the recovery of sugar from cane. Maharashtra
crushed around 312.7 Lakh MT of sugarcane to produce 32.75 lakh
tons of sugar by 31st Dec, 2014 which was 46.5% higher than the
sugar produced during the same period last year. With this, the
average cane recovery rate in Maharashtra rose to 10.47%
compared to 10.22% last Opening date for tenders has been fixed at
01st January, 2015.An early start of crushing this season (Oct,
2014- Sep, 2015) led India to produce 42.25 lakh tons of sugar
which was 46.9% higher than the figure achieved last year during
the same period. Reportedly, 442 Indian sugar mills participated in
the crushing process as against 426 mills last year.Sugar output in
India rose 27% in the first quarter of the current season despite over
a month of delay in commencement of crushing.
The Australian govt. predicted the country’s total sugar
production at 4.6 million tons for this marketing year 2014-15.
However, the production is projected to decline next year in 2015-
16 amidst rising prospects of El Nino weather event during the
period. Brazil’s centre south region churned around 0.37 million
tons of sugar in the first two weeks of December which was 51.3%
less than the figure achieved during second half of November.
Meanwhile, Brazilian ethanol industry showed an upsurge this year
with the country producing 25.6 billion liters of ethanol till date.
CENTER 05-Jan-15 03-Jan-15 Change
DELHI 2900 2920 -20
DHAMPUR 2820 2820 UNCH
MUMBAI 2940 2942 -2
KOLHAPUR 2650 2675 -25
VIJAYAWADA 3180 3180 UNCH
NAGPUR 2950 3000 -50
KOLKATA NA 2900 -
Technical Outlook
6
BUY DHANIYA APR ABOVE 8320 TGTS 8350,8400 SL 8270 SELL GUARGUM FEB BELOW 12200 TGTS 12150,12050 SL 12290
BUY CASTORSEED FEB ABOVE 4810 TGTS 4840,4890 SL 4760 SELL TMC APR BELOW 9040 TGTS 8990,8890 SL 9130
Disclaimer
 The information and views in this report, our website & all the service we provide are believed to be reliable, but we do not accept any
responsibility (or liability) for errors of fact or opinion. Users have the right to choose the product/s that suits them the most.
 Sincere efforts have been made to present the right investment perspective. The information contained herein is based on analysis and
up on sources that we consider reliable. This material is for personal information and based upon it & takes no responsibility.
 The information given herein should be treated as only factor, while making investment decision. The report does not provide
individually tailor-made investment advice. Epic research recommends that investors independently evaluate particular investments
and strategies, and encourages investors to seek the advice of a financial adviser. Epic research shall not be responsible for any
transaction conducted based on the information given in this report, which is in violation of rules and regulations of NSE and BSE.
 The share price projections shown are not necessarily indicative of future price performance. The information herein, together with all
estimates and forecasts, can change without notice. Analyst or any person related to epic research might be holding positions in the
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Epic research daily agri report 06 jan 2015

  • 1. DAILY AGRI COMMODITY REPORT 06 January 2015 HNI & NRI Sales Contact Australia Mintara Road, Tarneit, Victoria. Post Code 3029 Phone.: +61 422 063855 HNI & NRI Sales Contact USA 2117 Arbor Vista Dr. Charlotte (NC) Cell: +1 704 249 2315 Toll Free Number 1-800-200-9454 All queries should be directed to Info@epicresearch.co 1 Epic Research India 411 Milinda Manor (Suites 409- 417) 2 RNT Marg. Opp Central Mall Indore (M.P.) Hotline: +91 731 664 2300 Alternate: +91 731 664 2320 Or give us a missed call at 026 5309 0639 Our Presence YOURMINTVISORY Call us at +91-731-6642300
  • 2. Market Views 2 MONTH OPEN HIGH LOW CLOSE % CHG VOL MONTH OPEN HIGH LOW CLOSE % CHG VOL DHANIYA APR 8180 8449 8164 8284 +0.02 8100 INTRADAY LEVELS SUPPORT SUPP.1 8151 SUPP. 2 8017 PIVOT 8297 Dhaniya short term trend is down, further more downside is expected in comimg days. RESISTAN CE RES. 1 8431 RES. 2 8577 CASTORSEED FEB 4790 4810 4751 4788 -0.42 29120 INTRADAY LEVELS SUPPORT SUPP. 1 4757 SUPP. 2 4727 PIVOT 4784 Castorseed short term trend is down, Prices expected to go down in coming days.RESISTAN CE RES. 1 4814 RES. 2 4841 TURMERIC APR 9230 9410 9052 9094 -2.34 21055 INTRADAY LEVELS SUPPORT SUPP. 1 9053 SUPP. 2 8935 PIVOT 9255 Turmeric short term trend is down and may continue in coming days.RESISTAN CE RES. 1 9373 RES. 2 9575 GUARGUM FEB 12010 12470 11900 12270 +1.40 6204 INTRADAY LEVELS SUPPORT SUPP. 1 11957 SUPP. 2 11643 PIVOT 12213 Guargum Short term trend is up, Expecting price may go up in coming days.RESISTAN CE RES. 1 12527 RES. 2 12783
  • 3. Most Active Contract 3 TOP GAINERS SYMBOL EXPIRY DATE CURRENT PRICE CHANGE CHANGE % CORIANDER 20-01-2015 11345.00 198.00 1.78% BARLEY 20-01-2015 1635.00 20.00 1.24% REFINED SOY OIL 20-01-2015 643.15 4.40 0.69% SOYABEAN 20-01-2015 3360.00 14.00 0.42% CHANA 20-01-2015 3468.00 13.00 0.38% TOP LOSERS SYMBOL EXPIRY DATE CURRENT PRICE CHANGE CHANGE % RAPESEED-MUSTARD SEED 20-01-2015 4120.00 -128.00 -3.01% TURMERIC 20-04-2015 9094.00 -254.00 -2.72% CASTOR SEED NEW 20-01-2015 4949.00 -76.00 -1.51% JEERA 20-01-2015 15415.00 -140.00 -0.90% GUR 20-01-2015 968.00 -4.00 -0.41% NCDEX INDICES Index Value Pre. Close % Change CASTORSEED 4788 4808 -0.42 CHANA 3523 3544 -0.59 CORIANDER 8284 8282 +0.20 GUARGUM 12270 12100 +1.40 JEERA 15760 15630 +0.83 MUSTARD SEED 3502 3562 -1.68 SOYABEAN 3484 3481 +0.09 TURMERIC 9094 9312 -2.34
  • 4. Commodities In News 4 ECONOMIC NEWS The country's sugar production increased by 27.3 per cent to 7.46 million tonnes in the first three months of the current 2014-15 season, but continuous fall in prices is a cause of concern for millers, industry body ISMA said today.Sugar output stood at 5.86 million tonnes in the October-December period of the 2013-14 season. Sugar season runs from October to September.Expressing concern over falling ex-mill prices of sugar, Indian Sugar Mills Association (ISMA) said that the rates are "substantially below the cost of production" and it has become difficult for mills to even pay the cane price to farmers within stipulated period. In a statement, the industry body sought continuation of export subsidy on raw sugar to check falling sugar price and improve cane price paying capacity of industry. According to the latest data released by ISMA, total sugar production has reached 7.46 million tonnes during the October-December period of the 2014- 15 season, as against 5.88 million tonnes in the year-ago. "This year's production is slightly higher than last year mainly because the UP mills started their crushing operations almost a week before last year. Sugar recovery was also higher at 9.25 per cent till December 2014, as against 8.75 per cent in the same period last year," ISMA said.The output in Maharashtra, the country's top sugar producing state, has increased by 47 per cent to 3.27 million tonnes from 2.23 million tonnes in the review period. The production in Karnataka fell marginally to 1.2 million tonnes from 1.23 million tonnes, while that in Tamil Nadu showed a sharp decline to 65,000 tonnes from 1,62,000 tonnes in the review period. The output in Bihar increased to 1,80,000 tonnes during October-December of 2014-15 sugar season, as against 90,000 tonnes a year ago.At present, sugar mills are selling sugar at Rs 2,450-2,500 per quintal in Maharashtra and at Rs 2,600-2,650 per quintal in Uttar Pradesh, During 2013-14 season, the country had produced 24.4 million tonnes sugar and exported 2.11 million tonnes. Turmeric futures dropped on the back of strong new supplies in local mandies along with limited offtake by traders at higher levels. The NCDEX AprilTurmeric futures ended the day at Rs 9094, down Rs 218 or 2.34% over last close. Traders have reported strong arrivals of 15,000 bags at Erode mandi. While 1,500 bags of new arrivals have been reported in Nizamabad mandi. This will keep the prices under pressure in the near term. However, traders stated that total turmeric production in the current year is estimated at around 45-47 lakh tonnes, down almost 20-25 lakh bags from the last year.Turmeric futures eased from the high of Rs 9,680 level made last week andsettled the day at Rs 9094, down Rs 218 or 2.34% over last close. The openinterest added 30 tonnes to 25,950 tonnes, indicating short selling. Sugar output in India rose 27% in the first quarter of the current season despite over a month of delay in commencement of crushing. Data compiled by the apex industry body the Indian Sugar Mills Association (ISMA) shows India’s sugar output at 7.46 million tonnes upto December 31, 2014 compared to 5.86 million tonnes produced by sugar mills same period last year.Usually, crushing of sugarcane begins in October. But, owing to delay in cane price fixation and arrears payable by mills to farmers, factories delayed commencement of cane crushing this season.By December 31, 2014, 481 sugar mills were in operation in the country as against 485 sugar mills operated last year same period. Jeera down on profit booking amidst subdued demand in the spot markets. Further, sufficient stocks, following higher supplies from producing centers which mainly kept pressure on jeera prices. Rains in parts of Rajasthan and Gujarat are creating a selling pressure as rains at this stage are good for the sown crop. Closure on many International markets too has adversely affected the export demand for the time being. Short term trend likely to show some more dips but as skies clear and exports rise next week. At Rajkot market estimated market supply was at 960 quintals, higher by 180 quintals as compared to previous day.
  • 5. 5 Fundamental Watch : Sugar SUGAR PRICES AT KEY SPOT MARKETNational & International Market Update Sugar prices traded down for the day amid higher supplies and lower demand. Meanwhile, cold weather conditions especially in UP is affecting the recovery of sugar from cane. Maharashtra crushed around 312.7 Lakh MT of sugarcane to produce 32.75 lakh tons of sugar by 31st Dec, 2014 which was 46.5% higher than the sugar produced during the same period last year. With this, the average cane recovery rate in Maharashtra rose to 10.47% compared to 10.22% last Opening date for tenders has been fixed at 01st January, 2015.An early start of crushing this season (Oct, 2014- Sep, 2015) led India to produce 42.25 lakh tons of sugar which was 46.9% higher than the figure achieved last year during the same period. Reportedly, 442 Indian sugar mills participated in the crushing process as against 426 mills last year.Sugar output in India rose 27% in the first quarter of the current season despite over a month of delay in commencement of crushing. The Australian govt. predicted the country’s total sugar production at 4.6 million tons for this marketing year 2014-15. However, the production is projected to decline next year in 2015- 16 amidst rising prospects of El Nino weather event during the period. Brazil’s centre south region churned around 0.37 million tons of sugar in the first two weeks of December which was 51.3% less than the figure achieved during second half of November. Meanwhile, Brazilian ethanol industry showed an upsurge this year with the country producing 25.6 billion liters of ethanol till date. CENTER 05-Jan-15 03-Jan-15 Change DELHI 2900 2920 -20 DHAMPUR 2820 2820 UNCH MUMBAI 2940 2942 -2 KOLHAPUR 2650 2675 -25 VIJAYAWADA 3180 3180 UNCH NAGPUR 2950 3000 -50 KOLKATA NA 2900 -
  • 6. Technical Outlook 6 BUY DHANIYA APR ABOVE 8320 TGTS 8350,8400 SL 8270 SELL GUARGUM FEB BELOW 12200 TGTS 12150,12050 SL 12290 BUY CASTORSEED FEB ABOVE 4810 TGTS 4840,4890 SL 4760 SELL TMC APR BELOW 9040 TGTS 8990,8890 SL 9130
  • 7. Disclaimer  The information and views in this report, our website & all the service we provide are believed to be reliable, but we do not accept any responsibility (or liability) for errors of fact or opinion. Users have the right to choose the product/s that suits them the most.  Sincere efforts have been made to present the right investment perspective. The information contained herein is based on analysis and up on sources that we consider reliable. This material is for personal information and based upon it & takes no responsibility.  The information given herein should be treated as only factor, while making investment decision. The report does not provide individually tailor-made investment advice. Epic research recommends that investors independently evaluate particular investments and strategies, and encourages investors to seek the advice of a financial adviser. Epic research shall not be responsible for any transaction conducted based on the information given in this report, which is in violation of rules and regulations of NSE and BSE.  The share price projections shown are not necessarily indicative of future price performance. The information herein, together with all estimates and forecasts, can change without notice. Analyst or any person related to epic research might be holding positions in the stocks recommended. It is understood that anyone who is browsing through the site has done so at his free will and does not read any views expressed as a recommendation for which either the site or its owners or anyone can be held responsible for. Any surfing and reading of the information is the acceptance of this disclaimer. All Rights Reserved.  Investment in equity & bullion market has its own risks.  We, however, do not vouch for the accuracy or the completeness thereof. we are not responsible for any loss incurred whatsoever for any financial profits or loss which may arise from the recommendations above epic research does not purport to be an invitation or an offer to buy or sell any financial instrument. Our Clients (Paid Or Unpaid), Any third party or anyone else have no rights to forward or share our calls or SMS or Report or Any Information Provided by us to/with anyone which is received directly or indirectly by them. If found so then Serious Legal Actions can be taken.