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1. DAILY AGRI COMMODITY REPORT
24 September 2015
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2. Market Views
2
MONTH OPEN HIGH LOW CLOSE % CHG VOL MONTH OPEN HIGH LOW CLOSE % CHG VOL
TURMERIC
OCT 7532 7652 7254 7390 -3.12 27045
INTRADAY
LEVELS
SUPPORT SUPP. 1
7212
SUPP. 2
7034
PIVOT
7432
Turmeric short term
trend is bearish and
May continue in
coming days.RESISTAN
CE
RES. 1
7610
RES. 2
7830
CORIANDER
OCT 11125 11217 11078 11100 -0.18 6620
INTRADAY
LEVELS
SUPPORT SUPP.1
11046
SUPP. 2
10993
PIVOT
11132
Coriander short term
trend is bearish and May
continue in coming
days.RESISTAN
CE
RES. 1
11185
RES. 2
11271
GUARGUM
OCT 8210 8210 7950 8020 -1.47 9230
INTRADAY
LEVELS
SUPPORT SUPP. 1
7910
SUPP. 2
7800
PIVOT
8060
Guargum short term
trend is bearish and
May continue in
coming days.RESISTAN
CE
RES. 1
8170
RES. 2
8320
CASTORSEED
OCT 4197 4212 4170 4186 -0.07 54550
INTRADAY
LEVELS
SUPPORT SUPP. 1
4167
SUPP. 2
4147
PIVOT
4189
Castorseed short term
trend is bearish and
May continue in
coming day.RESISTAN
CE
RES. 1
4209
RES. 2
4231

3. Most Active Contract
3
NCDEX INDICES
Index Value
Pre.
Close
%
Change
CASTORSEED 4186 4189 -0.07
CHANA 45818 4431 +1.96
CORIANDER 11100 11120 -0.18
GUARGUM 8020 8140 -1.47
JEERA 15945 15990 -0.28
MUSTARD
SEED
4221 4226 -0.12
SOYABEAN 3246 3235 +0.34
TURMERIC 7390 7628 -3.12
TOP LOSERS
SYMBOL EXPIRY DATE
CURRENT
PRICE
CHANGE
CHANGE
%
TURMERIC 20-10-2015 7390.00 -238.00 -3.12%
COTTON SEED OIL CAKE
AKOLA
18-12-2015 1535.00 -15.00 -0.97%
JEERA 20-10-2015 15945.00 -65.00 -0.41%
CORIANDER 20-10-2015 11100.00 -35.00 -0.31%
RAPESEED-MUSTARD
SEED
20-10-2015 4221.00 -5.00 -0.12%
CASTOR SEED NEW 20-10-2015 4186.00 -1.00 -0.02%
TOP GAINERS
SYMBOL EXPIRY DATE
CURRENT
PRICE
CHANGE CHANGE %
CHANA 20-10-2015 4518.00 83.00 1.87%
REFINED SOY OIL 20-10-2015 575.35 3.55 0.62%
SOYABEAN 20-10-2015 3246.00 10.00 0.31%

4. Commodities In News
4
ECONOMIC NEWS
India's rice exports are likely to fall sharply to about half within five
years thanks to stagnant production, growing local consumption and
declining ending stocks with the government, Dutch banking and financial
services company Rabobank said in a report."India's rice production has
remained stagnant over the last few years while domestic consumption
continues to increase. Thus, without a boost in production, India's exports
will be forced to contract from current 10 million tonnes to 5-6 million
tonnes by 2020," said Shiva Mudgil, senior analyst, food and agribusiness
research and advisory at Rabobank.India and Thailand are the top rice
exporters at present, with each country accounting for 25% of global
exports of the commodity.India's production of milled rice in 2014, at
10.25 million tonnes, was 21% of the global production. Of this, 10% went
to exports. The country exports half of the basmati rice it produces and
commands 75% share in global basmati rice exports.Rice exports account
for a fifth of India's total food and agriculture exports, attracting $4.8
billion inflows at the last count.India's nine leading rice companies have
together seen average compound annual growth rate of 22.5% in the past
four years, with the government's policies such as removal of minimum
export price creating a favourable climate for exports.Private equity firms
could be looking at increasing their exposure to India's branded rice
segment. Increasing the lure for PE firms is a forecast that the branded
segment is likely to be more profitable for rice companies.According to the
report, branded rice can seek about 33% premium above loose rice at the
retail level, while a modern retailer can earn a margin of 20% compared
with 12% for loose rice.Between 2008 and 2013, the Indian rice industry
saw investment from some global players. McCormik invested in Kohinoor
Foods through the joint venture route in 2011. Ebro Foods, a leading pasta
manufacturer, bought out the operations of Olam India in 2013.Industry
executives said the next round of investment in rice companies can start
soon."Some private equity investors had contacted us in the past, but we
were not keen at that time. However, we may be open to such investment
in future," said Hiten Bhimani, director of Shree Gajanan Industries.
Recent rainfall proved boon to the standing crop in Jaisalmer, Barmer
and Jodhpur region as farmers had grown guar crop in early August
which needs immediate rainfall. However, rainfall proved bad in
irrigated areas like Ganganagar, Hanumangarh, and parts of Haryana as
crop is in its harvesting stage. Farmers are expecting 30-40% lesser
yield this year compared to last year due to lack of rainfall in the last
one month and heavy rainfall at the time of harvesting which
deteriorates the quality of guar seed also. Farmers in Ganganagar are
expecting 1.5-2 quintal bags per bigha due to no rainfall since one
month and recent rainfall which damage the quality of the standing
crop. Reportedly, the quantity of unsold gum stored in US has
decreased as stockists are selling it at lower quotes as unsold gum is
going to expire soon. There is only need based buying reported from
foreign buyers. India has exported 17618 tons of guar gum powder in
the month of August which is 9% lower compared to prior month.
Weak demand from overseas led the export market of guar gum down.
Turmeric settled down due to lack of fresh orders from North Indian
buyers and lower quality arrivals at the spot markets. Moreover,
expectation of higher production due to good rains in south peninsula
too fuelled the downtrend. Turmeric sowing area reported high in
Maharashtra and Tamil Nadu state during the current sowing period.
However, deficient monsoon in August may affect turmeric production
in rainfed areas.Turmeric sowing In AP, is recorded at 14,281 hectares
increase over last years’ acreage and almost same as normal sowing
area progress while in Telangana, only 82 per cent sowing is completed
which normally should be completed as per normal schedule as on sep
9, 2015. As per dept of commerce data, turmeric exports during April-
Jun, 2015 pegged at 25, 032 tonnes while the export for the 2014-15 is
90,738 tonnes compared to 78,360 tonnes in FY14.

5. 5
Fundamental Watch : Castorseed
CASTORSEED PRICES AT KEY SPOT
MARKET
National Market Update
Agriculture statistics Division, DES has released its 4th Adv estimates of
Production of food-grains for 2014- 15 on 17.07.2015.It has revised castor
production estimate from 18.24 to 17.33 lakh tonne in the final estimate. The
production target for 2014-15 was 16.65 lakh tone. India has produced 17.27
lakh tonne castor seed in 2013-14.However private trade estimate for the year
is much lower in between 11 to 12.5 lakh tonne for 2014- 15.
Area coverage during kharif 2015 till 11th Sept was reported at 10.24 lakh
ha in comparison to 9.75 lakh ha till corresponding date last year. It is ahead of
by 0.50 lakh ha. Gujarat has covered 7.21 against 7.10 lakh ha,. Coverage area
in Rajasthan is running ahead by 9.4 percent this year. It has covered 1.63
against 1.49 lakh ha. so far. Overall area coverage is up by 5.03 percent this
year.
Castor oil export during week ending 20th sep-15 was registered at 8048.49
tonne at an Average FoB price of $1264.94 perT. Quantity wise it has
increased by 5.87 percent week on week basis. India had exported 7576.42
tonne a week earlier. However price realization has decreased by6.77 percent
this week. As prices of seed has increased .FoB quotes are bound to go up next
week.
Castor seed cash and futures markets could not sustain its upward
momentum on second consecutive days and decreased again by Rs 50 per
qtl.in cash markets. Market participants say that firmness may continue as
inner tone in physical market remains firm. Market expects firmness from mid
October. Export volume for oil too has increased last week. Higher area
coverage, recent rains have already been factored out by market. So any
unexpected decline is unlikely in the near term.
CENTER 23-Sep-15 22-Sep-15 Change
SUMERPUR 3900 3900 UNCH
PATAN 4025 4075 -50
MEHSANA 4025 4050 -25
BHABAR 3990 4025 -35
HARJI 4000 40105 -15
RAJKOT 3945 3960 -15
KADI 4005 4075 -70

6. Technical Outlook
6
SELL CORIANDER OCT BELOW 11060 TARGET 11033 10953 SL
ABOVE 11087
SELL GUARGUM OCT BELOW 8000 TARGET 7950 7880 SL
ABOVE 8060
SELL TURMERIC OCT BELOW 7400 TARGET 7360 7300 SL
ABOVE 7460
SELL CASTORSEED OCT BELOW 4170 TARGET 4145 4115 SL
ABOVE 4195

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