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DAILY AGRI COMMODITY REPORT
08 Apr 2015
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Market Views
2
MONTH OPEN HIGH LOW CLOSE % CHG VOL MONTH OPEN HIGH LOW CLOSE % CHG VOL
CORIANDER
APR 9290 `9440 8863 8915 -2.62 34490
INTRADAY
LEVELS
SUPPORT SUPP.1
8705
SUPP. 2
8496
PIVOT
9073
Coriander short term
trend is up, further
more upside is expected
in coming days.RESISTAN
CE
RES. 1
9282
RES. 2
9650
CASTORSEED
APR. 3645 3679 3592 3613 -0.88 25240
INTRADAY
LEVELS
SUPPORT SUPP. 1
3577
SUPP. 2
3541
PIVOT
3628
Castorseed short term
trend is up, Prices
expected to go up in
coming days.RESISTAN
CE
RES. 1
3664
RES. 2
3715
TURMERIC
APR 7802 7968 7524 7800 -0.46 11670
INTRADAY
LEVELS
SUPPORT SUPP. 1
7560
SUPP. 2
7320
PIVOT
7764
Turmeric short term
trend is up and may
continue in coming
days.RESISTAN
CE
RES. 1
8004
RES. 2
8208
GUARGUM
APR. 9260 9500 9070 9200 +1.88 7112
INTRADAY
LEVELS
SUPPORT SUPP. 1
9013
SUPP. 2
8827
PIVOT
9257
Guargum Short term
trend is up, Expecting
price may go up in
coming days.RESISTAN
CE
RES. 1
9443
RES. 2
9687
Most Active Contract
3
TOP GAINERS
SYMBOL EXPIRY DATE
CURRENT
PRICE
CHANGE
CHANGE
%
JEERA 20-04-2015 15720.00 430.00 2.81%
GUARGUM 20-04-2015 9200 170 +1.88
BARLEY 20-04-2015 1098.50 8.50 0.78%
TOP LOSERS
SYMBOL EXPIRY DATE
CURRENT
PRICE
CHANGE
CHANGE
%
CORIANDER 20-04-2015 8915.00 -240.00 -2.62%
COTTON SEED OIL CAKE
AKOLA
20-04-2015 1725.00 -31.00 -1.77%
V 797 KAPAS 30-04-2015 825.50 -10.00 -1.20%
SOYABEAN 20-04-2015 3541.00 -34.00 -0.95%
CASTOR SEED NEW 20-04-2015 3613.00 -30.00 -0.82%
TURMERIC 20-04-2015 7800.00 -28.00 -0.36%
RAPESEED-MUSTARD
SEED
20-04-2015 3528.00 -12.00 -0.34%
REFINED SOY OIL 20-04-2015 605.90 -0.60 -0.10%
NCDEX INDICES
Index Value
Pre.
Close
%
Change
CASTORSEED 3613 3645 -0.88
CHANA 3785 3783 +0.05
CORIANDER 8915 9155 -2.62
GUARGUM 9200 9030 +1.88
JEERA 15720 15290 +2.81
MUSTARD SEED 3528 3537 -0.25
SOYABEAN 3541 3571 -0.84
TURMERIC 7800 7836 -0.46
Commodities In News
4
ECONOMIC NEWS
 India's wheat output prospects in 2015 appeared to have been
hit by unseasonal rains during the harvest season, "There's some
initial reports that suggest wheat output could drop by 4-5 percent
due to unseasonal rains,"In February, the farm ministry's initial
estimate put this year's wheat production in the world's No. 2
producer at 95.76 million tonnes compared with 95.85 million
tonnes in 2014. India bought up to 80,000 tonnes of Australian
wheat in recent deals, the biggest such imports by the country in
five years due to unseasonal rains.
 India govrnment has asked states of Haryana, Rajasthan and
Uttar Pradesh Governments to test samples of wheat jointly with
FCI immediately on its arrival so that appropriate relaxation in
quality norms can be considered for the procurement, according
to an official statement. During current Rabi season, quality
norms for the procurement of wheat, which has lost its shine,
have already been relaxed in Madya Pradesh and Gujrat. After
testing the samples in Madya Pradesh, shrinked and broken grains
have been allowed upto 10 percent.In view of interests of
farmers, the Government relaxes the norms for foodgrains
procurement time to time. Norms were relaxed for procurement
of Rice in Faylene and Hud Hud affected area also.Procurement
quality norms are decided every year on the recommendations of
a committee of experts which include Food Secretaries of States.
If quality of wheat is affected due to unseasonal rains or any other
reason, relaxation in the norms is considered on the
recommendations of states after testing samples of wheat on its
arrival. As per Food Safety and Standards Act, 2006 relaxation in
norms is allowed in the case of broken and shrinked grains and if
grains have lost shine. According to the Act grains having more
than 14 percent moisture cannot stored and procured.
 Guargum futures are likely to gain support from a possible pick up in export
demand in coming weeks. Guar gum for April delivery was trading up 1.88 per
cent at around on Tuesday to 9200 levels at India's National
Commodity&Derivatives Exchange(NCDEX).Good spot demand in physical
markets held future firm. A sharp gain in Crude Oil also supported the
markets.Lack of strong uptrend for Crude Oil rates had been limiting the export
demand. With Guar being used for oil drilling purpose, export demand from US
is expected to rise on a rise in Crude Oil prices. Failure of Crude Oil rates rising
is affecting Guar prices.High stocks, weakness in Crude oil price resulting in
low export demand, poor quality arrivals had kept pressurizing prices. Poor
quality stocks with farmers too resulted in prices falling. But reports indicate
farmers may not be willing to sell at these lower present levels.As per reports,
Guar gum exports during ongoing fiscal year 2014-15 is expected to decline
25% to 4 lakh to 4.5 lakh tons because there is weak demand for guar gum in
the Interna-tional market due to slump in crude prices . India’s guar gum export
was near 6 lakh tons during the last year.
 Stockiest selling continued in turmeric market due to fresh supplies in
Andhra Pradesh and Karnataka coupled with strong stock position. However,
traders are expecting the total production in the range of 50-52 lakh bags in the
current year, down 20 lakh bags from the last year in the same period. Traders
are expecting further decline in the coming days due to possibility of new
supplies from other producing states. Millers buying were seen in mustard seed
futures due to limited supplies in major producing states. Traders stated that
fresh arrivals of around 4.50-5 lakh bags mustard seed have been reported in
Kota mandi. prices are likely to scale record high in the coming months.
 Recovery was seen in chana market today due to erratic weather in major
producing states, particularly excess rainfall.The arrivals in Delhi reported at
just 20 trucks today as compared to 50 trucks on an average in the previous
week. The prices are trading at Rs 3825 per quintal, up Rs 50 per quintal from
the last day. Traders stated that strong miller's demand will support the prices
further in the near term.
5
Fundamental Watch : Castorseed
CASTORSEED ARRIVALS AT KEY SPOT
MARKET
National Market Update
 Cash market continued to move southward on Tuesday despite lower arrivals in the
market. Market participants say that more dip is expected in the weeks ahead as
demand from planters remained below expectation. Stock is ample and with the
opening of weather pressure is likely to build up that may push price down from the
currentlevel. Stake holders should wait till Mid April and keep close eye on global
demand. fresh deal of oil is believed to be struck at $1180 per tonne. This shows that
buyers are in no hurry to cover their short position at this point of time. They may wait
for a week or two. Market expert says that China has covered 85 percent of its annual
need(1.8 lakh tonne),EU and US too have covered 80 percent of their need so far.EU
and US annual need is expected to be 1.20 and 0.60 lakh tonne respectively. Demand
from other countries is likely to improve in the month of April as buyers are waiting
for higher arrivals. Heavy burden of carry out is said to be exhausted by 40 percent till
now and pipe line is almost vaccant. So any major dip from current level is unlikely.
Demand from oil from national and international market has improved and it may
support market even at peak arrival month (April).So the best time for seed buying is
expected to be April. Monsoon rains and price of the seed would be crucial for this
year's acreage. Lower price and monsoon rains would decide the future course of price
trend. Castor Oil FoB Kandla was traded at $1200 per tonne last week and no major
improvement is expected in the remaining month of March/April. During last one
week it has decreased from$1200 to $1190 per tonne, almost $10 lower than the price
prevailing in the third week of March. In Feb 2014 it was ruling at $1355 per tonne,
higher by 12.88 percent from from Feb 2015 price.
 Major international buyers are out of the market and they may enter into the market
by mid-April,by then market is expected to get stabilized. Not much trading activities
is expected in global market this week too and major buyers would remain busy with
March closing.Continuous banking holidays too would keep trading activities at
negligible level The weak economic scenario in China and Europe has reflected in
castor oil export volume in 2014. China imported 24 percent lower oil in 2014 in
comparison to 2013. good news is that improvement by 15 percent is expected now.
Castor oil in Rotterdam decreased from $1700 to $1525 per tonne in last one month
and may touch $1500 per tonne in the month of March. Pressure on Indian market and
decreasing trend continue to impact global market in the weeks ahead.
CENTER 07-Apr-15 06-Apr-15 Change
SUMERPUR 1200 960 +240
JODHPUR 80 NR -
GONDAL 1204 924 +280
RAJKOT 800 2000 -1200
PATAN 6500 7000 -500
DEESA 2800 3200 -400
MAHESANA 1200 960 +240
Technical Outlook
6
SELL CORIANDER APRIL BELOW 8850 TARGET 8825 8785 SL
ABOVE 8875
SELL GUARGUM APRIL BELOW 9150 TARGET 9100 9040 SL
ABOVE 9210
SELL TURMERIC APRIL BELOW 7600 TARGET 7560 7500 SL
ABOVE 7660
SELL CASTORSEED APRIL BELOW 3601 TARGET 3576 3546 SL
ABOVE 3626
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
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 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 08 april 2015

  • 1. DAILY AGRI COMMODITY REPORT 08 Apr 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 CORIANDER APR 9290 `9440 8863 8915 -2.62 34490 INTRADAY LEVELS SUPPORT SUPP.1 8705 SUPP. 2 8496 PIVOT 9073 Coriander short term trend is up, further more upside is expected in coming days.RESISTAN CE RES. 1 9282 RES. 2 9650 CASTORSEED APR. 3645 3679 3592 3613 -0.88 25240 INTRADAY LEVELS SUPPORT SUPP. 1 3577 SUPP. 2 3541 PIVOT 3628 Castorseed short term trend is up, Prices expected to go up in coming days.RESISTAN CE RES. 1 3664 RES. 2 3715 TURMERIC APR 7802 7968 7524 7800 -0.46 11670 INTRADAY LEVELS SUPPORT SUPP. 1 7560 SUPP. 2 7320 PIVOT 7764 Turmeric short term trend is up and may continue in coming days.RESISTAN CE RES. 1 8004 RES. 2 8208 GUARGUM APR. 9260 9500 9070 9200 +1.88 7112 INTRADAY LEVELS SUPPORT SUPP. 1 9013 SUPP. 2 8827 PIVOT 9257 Guargum Short term trend is up, Expecting price may go up in coming days.RESISTAN CE RES. 1 9443 RES. 2 9687
  • 3. Most Active Contract 3 TOP GAINERS SYMBOL EXPIRY DATE CURRENT PRICE CHANGE CHANGE % JEERA 20-04-2015 15720.00 430.00 2.81% GUARGUM 20-04-2015 9200 170 +1.88 BARLEY 20-04-2015 1098.50 8.50 0.78% TOP LOSERS SYMBOL EXPIRY DATE CURRENT PRICE CHANGE CHANGE % CORIANDER 20-04-2015 8915.00 -240.00 -2.62% COTTON SEED OIL CAKE AKOLA 20-04-2015 1725.00 -31.00 -1.77% V 797 KAPAS 30-04-2015 825.50 -10.00 -1.20% SOYABEAN 20-04-2015 3541.00 -34.00 -0.95% CASTOR SEED NEW 20-04-2015 3613.00 -30.00 -0.82% TURMERIC 20-04-2015 7800.00 -28.00 -0.36% RAPESEED-MUSTARD SEED 20-04-2015 3528.00 -12.00 -0.34% REFINED SOY OIL 20-04-2015 605.90 -0.60 -0.10% NCDEX INDICES Index Value Pre. Close % Change CASTORSEED 3613 3645 -0.88 CHANA 3785 3783 +0.05 CORIANDER 8915 9155 -2.62 GUARGUM 9200 9030 +1.88 JEERA 15720 15290 +2.81 MUSTARD SEED 3528 3537 -0.25 SOYABEAN 3541 3571 -0.84 TURMERIC 7800 7836 -0.46
  • 4. Commodities In News 4 ECONOMIC NEWS  India's wheat output prospects in 2015 appeared to have been hit by unseasonal rains during the harvest season, "There's some initial reports that suggest wheat output could drop by 4-5 percent due to unseasonal rains,"In February, the farm ministry's initial estimate put this year's wheat production in the world's No. 2 producer at 95.76 million tonnes compared with 95.85 million tonnes in 2014. India bought up to 80,000 tonnes of Australian wheat in recent deals, the biggest such imports by the country in five years due to unseasonal rains.  India govrnment has asked states of Haryana, Rajasthan and Uttar Pradesh Governments to test samples of wheat jointly with FCI immediately on its arrival so that appropriate relaxation in quality norms can be considered for the procurement, according to an official statement. During current Rabi season, quality norms for the procurement of wheat, which has lost its shine, have already been relaxed in Madya Pradesh and Gujrat. After testing the samples in Madya Pradesh, shrinked and broken grains have been allowed upto 10 percent.In view of interests of farmers, the Government relaxes the norms for foodgrains procurement time to time. Norms were relaxed for procurement of Rice in Faylene and Hud Hud affected area also.Procurement quality norms are decided every year on the recommendations of a committee of experts which include Food Secretaries of States. If quality of wheat is affected due to unseasonal rains or any other reason, relaxation in the norms is considered on the recommendations of states after testing samples of wheat on its arrival. As per Food Safety and Standards Act, 2006 relaxation in norms is allowed in the case of broken and shrinked grains and if grains have lost shine. According to the Act grains having more than 14 percent moisture cannot stored and procured.  Guargum futures are likely to gain support from a possible pick up in export demand in coming weeks. Guar gum for April delivery was trading up 1.88 per cent at around on Tuesday to 9200 levels at India's National Commodity&Derivatives Exchange(NCDEX).Good spot demand in physical markets held future firm. A sharp gain in Crude Oil also supported the markets.Lack of strong uptrend for Crude Oil rates had been limiting the export demand. With Guar being used for oil drilling purpose, export demand from US is expected to rise on a rise in Crude Oil prices. Failure of Crude Oil rates rising is affecting Guar prices.High stocks, weakness in Crude oil price resulting in low export demand, poor quality arrivals had kept pressurizing prices. Poor quality stocks with farmers too resulted in prices falling. But reports indicate farmers may not be willing to sell at these lower present levels.As per reports, Guar gum exports during ongoing fiscal year 2014-15 is expected to decline 25% to 4 lakh to 4.5 lakh tons because there is weak demand for guar gum in the Interna-tional market due to slump in crude prices . India’s guar gum export was near 6 lakh tons during the last year.  Stockiest selling continued in turmeric market due to fresh supplies in Andhra Pradesh and Karnataka coupled with strong stock position. However, traders are expecting the total production in the range of 50-52 lakh bags in the current year, down 20 lakh bags from the last year in the same period. Traders are expecting further decline in the coming days due to possibility of new supplies from other producing states. Millers buying were seen in mustard seed futures due to limited supplies in major producing states. Traders stated that fresh arrivals of around 4.50-5 lakh bags mustard seed have been reported in Kota mandi. prices are likely to scale record high in the coming months.  Recovery was seen in chana market today due to erratic weather in major producing states, particularly excess rainfall.The arrivals in Delhi reported at just 20 trucks today as compared to 50 trucks on an average in the previous week. The prices are trading at Rs 3825 per quintal, up Rs 50 per quintal from the last day. Traders stated that strong miller's demand will support the prices further in the near term.
  • 5. 5 Fundamental Watch : Castorseed CASTORSEED ARRIVALS AT KEY SPOT MARKET National Market Update  Cash market continued to move southward on Tuesday despite lower arrivals in the market. Market participants say that more dip is expected in the weeks ahead as demand from planters remained below expectation. Stock is ample and with the opening of weather pressure is likely to build up that may push price down from the currentlevel. Stake holders should wait till Mid April and keep close eye on global demand. fresh deal of oil is believed to be struck at $1180 per tonne. This shows that buyers are in no hurry to cover their short position at this point of time. They may wait for a week or two. Market expert says that China has covered 85 percent of its annual need(1.8 lakh tonne),EU and US too have covered 80 percent of their need so far.EU and US annual need is expected to be 1.20 and 0.60 lakh tonne respectively. Demand from other countries is likely to improve in the month of April as buyers are waiting for higher arrivals. Heavy burden of carry out is said to be exhausted by 40 percent till now and pipe line is almost vaccant. So any major dip from current level is unlikely. Demand from oil from national and international market has improved and it may support market even at peak arrival month (April).So the best time for seed buying is expected to be April. Monsoon rains and price of the seed would be crucial for this year's acreage. Lower price and monsoon rains would decide the future course of price trend. Castor Oil FoB Kandla was traded at $1200 per tonne last week and no major improvement is expected in the remaining month of March/April. During last one week it has decreased from$1200 to $1190 per tonne, almost $10 lower than the price prevailing in the third week of March. In Feb 2014 it was ruling at $1355 per tonne, higher by 12.88 percent from from Feb 2015 price.  Major international buyers are out of the market and they may enter into the market by mid-April,by then market is expected to get stabilized. Not much trading activities is expected in global market this week too and major buyers would remain busy with March closing.Continuous banking holidays too would keep trading activities at negligible level The weak economic scenario in China and Europe has reflected in castor oil export volume in 2014. China imported 24 percent lower oil in 2014 in comparison to 2013. good news is that improvement by 15 percent is expected now. Castor oil in Rotterdam decreased from $1700 to $1525 per tonne in last one month and may touch $1500 per tonne in the month of March. Pressure on Indian market and decreasing trend continue to impact global market in the weeks ahead. CENTER 07-Apr-15 06-Apr-15 Change SUMERPUR 1200 960 +240 JODHPUR 80 NR - GONDAL 1204 924 +280 RAJKOT 800 2000 -1200 PATAN 6500 7000 -500 DEESA 2800 3200 -400 MAHESANA 1200 960 +240
  • 6. Technical Outlook 6 SELL CORIANDER APRIL BELOW 8850 TARGET 8825 8785 SL ABOVE 8875 SELL GUARGUM APRIL BELOW 9150 TARGET 9100 9040 SL ABOVE 9210 SELL TURMERIC APRIL BELOW 7600 TARGET 7560 7500 SL ABOVE 7660 SELL CASTORSEED APRIL BELOW 3601 TARGET 3576 3546 SL ABOVE 3626
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