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1. DAILY AGRI COMMODITY REPORT
25 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
JUNE 11509 11928 11470 11928 +3.99 24520
INTRADAY
LEVELS
SUPPORT SUPP.1
11759
SUPP. 2
11587
PIVOT
12051
Coriander short term
trend is up and June
continue in coming
days.RESISTAN
CE
RES. 1
12223
RES. 2
12551
CASTORSEED
JUNE 3918 3945 3896 3915 -0.33 48540
INTRADAY
LEVELS
SUPPORT SUPP. 1
3928
SUPP. 2
3868
PIVOT
3968
Castorseed short term
trend is up and June
continue in coming
days..RESISTAN
CE
RES. 1
4028
RES. 2
4068
TURMERIC
JUNE 8086 8198 8070 8100 +0.17 9520
INTRADAY
LEVELS
SUPPORT SUPP. 1
7973
SUPP. 2
7885
PIVOT
8071
Turmeric short term
trend is down and June
continue in coming
days.RESISTAN
CE
RES. 1
8159
RES. 2
8257
GUARGUM
JUNE 11680 11750 11170 11400 -1.98 12422
INTRADAY
LEVELS
SUPPORT SUPP. 1
11360
SUPP. 2
11230
PIVOT
11440
Guargum short term
trend is up and June
continue in coming
days.RESISTAN
CE
RES. 1
11570
RES. 2
11650

3. Most Active Contract
3
NCDEX INDICES
Index Value
Pre.
Close
%
Change
CASTORSEED 3987 3909 +2.00
CHANA 4700 4683 +0.36
CORIANDER 12220 12217 +0.02
GUARGUM 11490 11280 +1.86
JEERA 18700 18730 -0.16
MUSTARD SEED 4266 4153 +2.72
SOYABEAN 4037 4053 -0.39
TURMERIC 8060 8100 -0.49
TOP LOSERS
SYMBOL EXPIRY DATE
CURRENT
PRICE
CHANGE
CHANGE
%
TURMERIC 19-06-2015 8048.00 -52.00 -0.64%
SOYABEAN 19-06-2015 4038.00 -26.00 -0.64%
TOP GAINERS
SYMBOL EXPIRY DATE
CURRENT
PRICE
CHANGE CHANGE %
RAPESEED-MUSTARD
SEED
19-06-2015 4260.00 96.00 2.31%
CASTOR SEED NEW 19-06-2015 3991.00 76.00 1.94%
GOLD 29-07-2015 27483.00 156.00 0.57%
CORIANDER 19-06-2015 11944.00 16.00 0.13%

4. Commodities In News
4
ECONOMIC NEWS
 The crisis in Indian sugar industry is a continuing tale which
promises no immediate respite. Industry players say sugar mills may
find it difficult to start their crushing operations next season which is
only 4-5 months away. Due to depressed global sugar prices which
are not still not viable for export of both raw and export, sugar
exports are at a very low pace. According to the data by Indian Sugar
Mills Association(ISMA), so far, mills have exported only 4.6 lac
tons of sugar till first week of May, 2015. Another 2-3 lac tons of
sugar may get exported in the remaining period of the season.
Closing stock at the end of the current season is estimated to be at a
higher level of around 103 lac tons, the highest in the last six sugar
seasons. Sugar prices in the domestic market is highly depressed and
are ruling at Rs. 2600 per quintal in Northern parts of the country and
at Rs. 2300 per quintal in Southern and Western parts of the country.
Cane price arrears have crossed Rs. 21,000 crore which is almost
35% of the total cane price payable in the season. It also means that
either 1 out of 3 farmers have not got the payment or the farmer has
not got payment for 35% of his produce, This is the worst ever
situation in the history of the Indian sugar sector. However, despite
such huge can eprice arrears, area under sugarcane is estimated to
remain at the same level and sugarcane availability in the next year
seems to be more than the requirement for the fifth year in
continuation,". Returns to farmers from sugarcane is almost 50%
more than the returns from the competing crops like wheat and
paddy, cotton, etc.The cane price have gone up by over 50% in the
last three years, unmatched by any other crop in the country. On the
other hand, the sugar price have only fallen and are at its lowest in
the last 6 years. The industry calls for rationalizing cane pricing
policy across the country and check the huge mismatch between
sugarcane price and sugar price which is currently distorting the
economics of sugarcane and sugar production. The reason for surplus
sugar is only because surplus sugarcane is getting produced and the
mills are under legal compulsion to crush all the sugarcane, resulting
in surplus sugar
 Follow up buying was seen in jeera market today due to strong export
demand from Bangladesh. Tight arrivals in major trading centres have kept
Jeera buoyant in local mandies. Arrivals have been reported around 5000-6000
bags in Unjha today. Harvesting has been affected on late rains in Rajasthan
and overall output could suffer. According to a latest update from the
Agriculture Ministry there has been an increase in the area under Rabi crop
coverage that was affected by unseasonal rainfall and hailstorms from late
February to early April. The revised figure on the basis of State-wise data has
more than doubled from the April 16 estimate of 93.82 lakh hectares (lh) and as
stands at 189.81 lakh hectares (lh) as of April 24.
 Prospects of lower production this year along with rising Crude Oil prices,
leading to improved export demand could support Guargum price. With Guar
being used for oil drilling purpose, export demand from US is expected to rise
on recovery in Crude Oil prices.Satisfactory progress of Monsoon towards
Kerala kept uptrend limited for Guar on Thursday as rates fell on apprehensions
of improved sowing. Reports of sowing already starting early in parts of
Rajasthan and Haryana with the recent rains and irrigation facilities are already
pressurizing prices. Because of lower rates, Indian export of Guargum has
increased. In first 11 month of 2014-15, export rose more than 21% to 6.62 lakh
tons while in same period of 2013-14 only 5.45 lakh tons gum was exported.
 Good demand and low production supported NCDEX Chana prices.As per
3rd Advance Estimates for 2014-15, production of pulses estimated at 17.38
million tons is lower by 1.87 million tons than last year’s production. Chana
production is estimated at 7.59 million tons vs 9.53 million tons last year.In
April, pulses import value has risen more than 48% to Rs 1,197.04 cr vs Rs
808.26 cr same period last year. Indian consumption is 23-24 million tons and a
fall in production would raise imports. As per reports, Pulses imports could rise
to 4.5-5 million tons this year vs 3.65million tons in 2013-14.Reports from
Australia indicate a 22.5% fall in Pulses production and more than 30% fall in
Chick Peas production in 2014-15 vs that in 2013-14.

5. 5
Fundamental Watch : Cotton
COTTON ARRIVALS AT KEY SPOT
MARKET
National Market Update
 As per latest update from market participants some forward deals of Chana from
Australia have been struck at $785-90 last week to be shipped during July-August and
$775-80 for October-November shipment this year. At present Australia Chana is
being imported at $790. Forward deals at slightly lower price hints range bound
movement in physical market. Australian Chickpea is currently being planted and
should be finished by the end of June. Weather condition is favorable and yield may
increase this year as compare to last year. Harvest is set to begin after September.
Department of agriculture has revised down pulses production estimate by 5.6 percent
in the 3rd Adv Est. released on 13th May,2015.Inclement weather and un seasonal
rainfall affected the pulses crop adversely. It has been revised down from18.43 MMT
(2nd Adv. Est) to 17.38 MMT. Looking into recent price hike in pulses and lower
production estimate due to crop loss in producing region and lower monsoon rain
forecast, Indian government is planning to import pulses through state owned trading
firms such as MMTC to boost supplies and control rising prices of pulses. India may
import pulses from Ethiopia and Tanzania owning to expected drop in output in
Canada and Australia. Odisha government had set the production target of 0.587 MT
of pulses in Kharif season. It includes 0.19 MT of Arhar, 0.15 MT of Mung and 0.176
MT of Biri. According to them pulses will be cultivated on about 0.965 million
hectares with yield of 609 kg /Ha.
 Australian Chickpea is currently being planted and should be finished in the end of
June. Weather condition is favorable and yield may increase this year as compare to
last year. Harvest is set to begin after September. Demand and prices of Australian
chickpeas increased due to crop failure in India. Australia exports around 95% of its
chickpea crop where India, Bangladesh and UAE are its major export destination.
China for the second year in a row was net importer of Pulses. According to the latest
report compiled by STAT it imported 2.50 MMT of pulses in 2014 against 5.67 MMT
in 2013. In 2014 it imported 8.17 MMT of pulses against export of 5.67 MMT. China
was a net exporter of pulses until the 2013 calendar year. In 2012, China exported
3.67 MMT more pulses than it imported. USDA's Commodity Credit Corporation
released purchase tender for 1000 metric tonne (MT) of yellow split pea for May -
June .
CENTER 22-May-15 21-May-15 Change
AMRAVATI 350 NA -
MAHESANA 800 500 +300
RAJKOT 3000 1800 +1200
PATAN 400 400 UNCH
DEESA 2000 1000 +1000
BHIWANI 500 500 UNCH
GONDAL 700 700 UNCH

6. Technical Outlook
6
BUY CORIANDER JUNE ABOVE 12160 TARGET 12185 12225 SL
BELOW 12135
BUY GUARGUM JUNE ABOVE 11560 TARGET 11610 11670 SL
BELOW 11500
SELL TURMERIC JUNE BELOW 7960 TARGET 7920 7860 SL
ABOVE 8020
BUY CASTORSEED JUNE ABOVE 4009 TARGET 4034 4064 SL
BELOW 3984

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