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Epic research daily agri report 17 dec 2015
1. DAILY AGRI COMMODITY REPORT
17 December 2015
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2. Market Views
2
MONTH OPEN HIGH LOW CLOSE % CHG VOL MONTH OPEN HIGH LOW CLOSE % CHG VOL
TURMERIC
APR 10606 10636 10418 10530 -0.32 8445
INTRADAY
LEVELS
SUPPORT SUPP. 1
10420
SUPP. 2
10310
PIVOT
10528
Turmeric short term
trend is bullish and
May continue in
coming days.RESISTAN
CE
RES. 1
10638
RES. 2
10746
CORIANDER
JAN 9450 9560 9128 9128 -4.00 4790
INTRADAY
LEVELS
SUPPORT SUPP.1
8984
SUPP. 2
8840
PIVOT
9272
Coriander short term
trend is bearish and May
continue in coming
days.RESISTAN
CE
RES. 1
9416
RES. 2
9704
GUARGUM
JAN 5940 5990 5710 5890 +1.38 15811
INTRADAY
LEVELS
SUPPORT SUPP. 1
5583
SUPP. 2
5737
PIVOT
5863
Guargum short term
trend is bearish and
May continue in
coming days.RESISTAN
CE
RES. 1
6017
RES. 2
6143
CASTORSEED
JAN 3939 3939 3865 3900 -1.02 47330
INTRADAY
LEVELS
SUPPORT SUPP. 1
3864
SUPP. 2
3827
PIVOT
3901
Castorseed short term
trend is bullish and
May continue in
coming day.RESISTAN
CE
RES. 1
3938
RES. 2
3975
3. Most Active Contract
3
NCDEX INDICES
Index Value
Pre.
Close
%
Change
CASTORSEED 3829 3862 -0.85
CHANA 5043 5068 -0.49
CORIANDER 10610 10731 -1.13
GUARGUM 5870 5770 +1.73
JEERA 14450 14720 -1.83
MUSTARD
SEED
4338 4172 +3.98
SOYABEAN 3592 3649 -1.56
TURMERIC 9500 9564 -0.67
TOP LOSERS
SYMBOL EXPIRY DATE
CURRENT
PRICE
CHANGE
CHANGE
%
BARLEY 18-12-2015 1392.00 -23.00 -1.63%
SOYABEAN 18-12-2015 3592.00 -56.00 -1.54%
CORIANDER 18-12-2015 10610.00 -140.00 -1.30%
CASTOR SEED NEW 18-12-2015 3829.00 -46.00 -1.19%
JEERA 18-12-2015 14450.00 -145.00 -0.99%
CHANA 18-12-2015 5043.00 -35.00 -0.69%
TOP GAINERS
SYMBOL EXPIRY DATE
CURRENT
PRICE
CHANGE CHANGE %
RAPESEED-MUSTARD
SEED
18-12-2015 4338.00 177.00 4.25%
TURMERIC 18-12-2015 9500.00 50.00 0.53%
REFINED SOY OIL 18-12-2015 634.50 2.40 0.38%
4. Commodities In News
4
ECONOMIC NEWS
Changing the crop pattern, reduction of input cost and increase in
productivity were vital for improving the agriculture scenario, Union
Minister Nitin Gadkari said here.Gadkari, who is 'chief patron' of
Agrovision, an annual agricultural exhibition, was speaking at the
conclusion of the event.The minimum support prices of farm products were
not going to increase much as they were linked to global prices, and
therefore the farmers must think of changing crop patterns, reducing input
cost and increasing the productivity for profitable agriculture, the Union
Road Transport Minister said.Over five lakh people visited the exhibition
during the last four days and some 60,000 farmers participated in various
workshops during the exhibition, the organisers said.Gadkari advised the
farmers to switch to oil seeds, pulses and maize from the conventional
crops, avoid use of fertilisers and adopt organic farming
methods.Maharashtra Energy minister Chandrashekhar Bawankule, who
was the chief guest, listed various decisions of BJP-led state government
for the farmers in power sector.Under Atal solar agriculture pump scheme,
10,000 pumps, each costing Rs 5 lakh, would be distributed to farmers for
Rs 20,000 each, and if the scheme succeeded, five lakh such pumps would
be distributed in five years, he said.
Cotton crop spread over three lakh hectares has been damaged in Punjab
due to whitefly infestation, while soyabean, urad and moong crop have
suffered loss due to yellow mosaic virus in Madhya Pradesh, government
said.During the Kharif season this year, whitefly infestation was reported in
cotton crop in Punjab and Haryana.The Punjab government has reported
damage to cotton crop in 3.32 lakh hectares, especially in eight cotton
growing districts of Fazilka, Bhatinda, Mansa, Shri Muktsar Sahib,
Sangrur, Barnala, Faridkot and Moga, Agriculture Minister Radha Mohan
Singh said during Question Hour. He said the Haryana government has
ordered a special 'gridawari' (record of land cultivation) to assess the losses
in cotton due to whitefly attack.The two governments have so far not
submitted memorandum of financial assistance under National Disaster
Response Fund, Singh said.
Jeera settled down due to low demand and pickup in jeera sowing in
Gujarat. However reports of diminishing stocks and steady retail
demand limited the downside. Gujarat, the top cumin producing state,
has planted more cumin until now compared to last year sowing
progress. In Gujarat, jeera is planted about 7 per cent more area at 1,
99,200 hectares compared to 1,86,300 hectares last year same
time.According to govt data, exports for 2015-16 shows a decline trend
compared to last year until September. As per Agmarknet data, arrivals
of Jeera in Gujarat markets for the calendar year 2015 till Oct is lower
by 217 per cent at about 1.23 lt compared to 3.9 lt last year. According
to Dept of Commerce data, the export of jeera during first 5 month of
2015-16 (Apr-Sep) is 44,140 tonnes, which is, lower as compared to
last year same period. At Gondal (Guj.) market in Rajkot(Guj.) arrivals
were reported at 200 quintals, unchanged as compared to previous
day’s arrival. India's total carryover stock is currently estimated
between 0.7-0.8 Million bags versus 2.5 million bags a year ago.
Turmeric settled down as prospects of rising new crop arrivals in
coming weeks weighed on prices. There is concern over production due
to heavy rains in south India. Persistent rains in south peninsula since
last two weeks may damage turmeric crop in Tamilnadu and some parts
of Karnataka. As per Dept of commerce data, turmeric exports till
September, 2015 pegged at 50,916 tonnes while the export for the
2014-15 is 90,738 tonnes compared to 78,360 tonnes in FY14.As on
latest sowing data, turmeric sowing In AP, is recorded at 15,864
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.
Prices of both the finger and root variety turmeric at Erode markets
touched Rs. 10,000 a quintal.
5. 5
Fundamental Watch : Cotton
COTTON PRICES AT KEY SPOT MARKETNational Market Update
Cotton production estimates of India are revised down by ICAC at 6.27
million tons, around 0.5% lower when compared to the estimates of previous
week, which was 6.30 million tons. As compared to previous year, cotton
production in country is likely to fall by around 3.7%, as it was 6.51 million
tons previous season.
Cotton farmers in Gujarat may get bonus on the sale of cotton crop, besides
the MSP of Rs 810 per 20 kg as government is planning to support farmers by
providing the monetary benefits and eliminating despair among the cotton
farmers occurs often due to risk associated with the crop.
Cotton ending stocks in India is likely to go down by around 8% this year as
compared to the previous year. According to USDA, cotton stocks would stand
around 2.69 million tons by the end of season 2015-16 as compared to 2.93
million tons previous season.
Cotton exports from India noticed a remarkable rise in November as
compared to the previous month. During November the country exported
around 12.46 lakh bales of cotton as compared to 4.63 lakh bales during the
previous month and 7.34 lakh bales during the same month previous season.
However imports fell to almost half the quantity exported previous month.
Cotton imports during November was 0.55 lakh bales, which was 0.92 a
month earlier and 1.98 lakh bales during the same month a year earlier.
CENTER 15-Dec-15 14-Dec-15 Change
RAJKOT 4655 4635 +20
BHIWANI 4650 4625 +25
ADAMPUR 4545 4450 +95
AHMEDABAD 4600 4600 UNCH
GONDAL 4650 4600 +50
GUNTUR NA NA -
RAICHUR 4455 4400 +55
6. Technical Outlook
6
SELL CORIANDER JAN BELOW 9120 TARGET 9075 8925 SL
ABOVE 9185
SELL GUARGUM JAN BELOW 5860 TARGET 5810 5740 SL
ABOVE 5920
BUY TURMERIC APRIL ABOVE 10590 TARGET 10634 10694 SL
BELOW 10530
BUY CASTORSEED JAN ABOVE 3951 TARGET 3976 4006 SL
BELOW 3926
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