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Epic research weekly agri report 23rd to 27th march 2015
1. WEEKLY AGRI COMMODITY REPORT
23 Mar 2015
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2. Weekly Wrap Up
2
MONTH OPEN HIGH LOW CLOSE % CHG VOL MONTH OPEN HIGH LOW CLOSE % CHG VOL
DHANIYA
APR 6812 7852 6812 7740 +10.73 8525
INTRADAY
LEVELS
SUPPORT SUPP.1
7084
SUPP. 2
6428
PIVOT
7468
Dhaniya short term
trend is down, further
more downside is
expected in comimg
days.
RESISTAN
CE
RES. 1
8124
RES. 2
8508
CASTORSEED
APR 3769 3778 3633 3686 -1.36 131900
INTRADAY
LEVELS
SUPPORT SUPP. 1
3654
SUPP. 2
3571
PIVOT
3716
Castorseed short term
trend is down, Prices
expected to go down in
coming days.RESISTAN
CE
RES. 1
3799
RES. 2
3861
TURMERIC
APR 7798 8224 7534 7900 +0.89 6506
INTRADAY
LEVELS
SUPPORT SUPP. 1
7548
SUPP. 2
7196
PIVOT
7886
Turmeric short term
trend is down and may
continue in coming
days.RESISTAN
CE
RES. 1
8238
RES. 2
8576
GUARGUM
APR 8710 8810 7810 8330 -5.66 35734
INTRADAY
LEVELS
SUPPORT SUPP. 1
7823
SUPP. 2
7317
PIVOT
8317
Guargum Short term
trend is Down,
Expecting price may go
Down in coming days.RESISTAN
CE
RES. 1
8823
RES. 2
9317
4. Commodities In News
4
ECONOMIC NEWS
Unseasonal rains and hailstorms in various parts of the country during
this month have "adversely affected" production of Rabi crops, "The
recent unseasonal rains and hailstorms in Gujarat, Madhya Pradesh,
Maharashtra, Rajasthan, Haryana, Punjab, Uttar Pradesh, Uttarakhand,
Himachal Pradesh, Jammu & Kashmir, Telangana, Andhra Pradesh and
West Bengal have adversely affected production of rabi crops. "... further
aggravating the overall production of agricultural crops during 2014-15,"
Minister of State for Agriculture Mohanbhai Kundaria said in a written
reply to Rajya Sabha. Wheat, mustard and grams are the major Rabi
(winter-sown) crops.India's foodgrains production is estimated to decline
by 3.2 per cent at 257.07 million tonnes in the 2014-15 crop year (July-
June) as against 265.57 million tonnes in the previous year, "As per
preliminary reports, about 27 lakh hectare crop area was affected. The
states are yet to submit their assessment of loss to standing crops to
Ministry of Agriculture,"In Rabi season of 2014-15 crop year, 535.35
lakh hectares were sown under foodgrains and 79.34 lakh hectares under
oilseeds.
The Government of India on Friday said it is in favour of long-term,
consistent and predictable trade policy for agricultural/food
products.Among the majoragricultural/food products, restrictions have
been imposed only on the export of edible oils and pulses and that too on
account of severe demand-supply mismatch, Nirmala Sitharaman,
Minister of Commerce & Industry, said in a written reply in Lok
Sabha.“There is no outright ban on import of any of the major
agricultural/food products. All policy decisions on import and export of
agricultural/food products are taken after considering interests of all
stakeholders including farmers and consumers,” according to the
minister.“The policy decisions on export and import of agricultural/food
products, including decisions on imposing/lifting of ban on export and
import, are based on several factors such as availability/non-availability
of surplus over.
Turmeric stayed supported after falling to a one month low earlier this
week as upcountry demand is expected to support sentiments in near term.
However, over a medium term, traders are expecting further decline in the
coming days due to possibility of new supplies from other producing states,
primarily in Karnataka in near term. Spot prices are quoting at Rs 7950 per
quintal, unaltered on the day.
Overall sentiments in Pulses markets remain thin and that is affecting
movements in Chana market too. Demand is farily weak in Tur while in
case of Masur, traders are eving fresh crop from MP to hit the markets
soon. This is keeping Chana around Rs 3600 per quintal in Delhi. Reports
are stating that crop which was sown early is likely to have endured some
losses following the recent burst of rains. In Delhi markets, the arrivals
came in at 40 trucks as compared to 25 trucks in last session.
Some stable moves were seen in Guar today. Poor demand owing to
weak exports is hitting sentiments in guar. Global crude oil prices are
lingering at their six year lows and not much of an upside is expected in
guar unless crude picks up from these levels. Gum export demand is very
weak amid the rout in crude prices. Local millers have heavy stocks with
them. Spot guar is quoting at Rs 3700 per quintal in Jodhpur- its lowest
level in nearly one year.
Coriander eased after hitting one month high on ideas that supplies might
increase in coming days. The prices soared earlier this week as concerns
regarding the quality of the crop arriving in local mandies supported
sentiments. The commodity has been on an upward trajectory in last few
days on lack of good quality crops even as arrivals remained steady. Spot
prices are trading at Rs 7600 per quintal in Kota, down Rs 100 per quintal
on the day and hitting their highest mark in around one month. Traders have
been showing good buying interest on possibility of crop damage to
coriander crop in Rajasthan. The overall supply scenario remains good
though.
5. 5
NEWS RECAP
COMMODITY HEADLINES
Agri Ministry Projects Heavy Rabi Crop Damage Due To Unseasonable Rainfall.
India's edible oil imports likely to cross 12.5 mln tons.
Rains in north, central India may affect production of wheat, other crops .
Unseasonal rain mixed bag for wheat,may not hit total output.
Sugar output to see 30% rise year-on-year; prices seen depressed.
Gap exists between pulses, oilseeds production and demand'.
Sugar mills owe Rs 16,334 crore to cane farmers as of February-end.
Government launches Rs 200 crore scheme for innovation in agro-industry.
Private players exported 2.5 MT of wheat till January this fiscal.
India Exported 42.5 Thousand Tons Of Sugar Last Week.
Government says unseasonal rain adversely affected rabi crop output.
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