Epic Research Daily Agri Report 02 FEB 2016
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Transcript of Epic Research Daily Agri Report 02 FEB 2016
7/25/2019 Epic Research Daily Agri Report 02 FEB 2016
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DAILY AGRI COMMODITY REPORT
02 February 2016
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Market Views
2
MONTH OPEN HIGH LOW CLOSE % CHG VOL MONTH OPEN HIGH LOW CLOSE % CHG VOL
TURMERIC
APR 8198 8454 8190 8398 +2.41 11035
INTRADAY
LEVELS
SUPPORT SUPP. 1
8210
SUPP. 2
8023
PIVOT
8377
Turmeric short term
trend is bullish and
May continue in
coming days.RESISTAN
CE
RES. 1
8565
RES. 2
8733
CORIANDER
APR 6205 6405 6170 6330 +1.52 5840
INTRADAY
LEVELS
SUPPORT SUPP.1
6198
SUPP. 2
6067
PIVOT
6302
Coriander short term
trend is bullish and May
continue in coming
days.RESISTAN
CE
RES. 1
6433
RES. 2
6537
GUARGUM
FEB 5640 5650 5480 5570 -1.24 15269
INTRADAY
LEVELS
SUPPORT SUPP. 1
5483
SUPP. 2
5397
PIVOT
5567
Guargum short term
trend is bearish and
May continue in
coming days.RESISTAN
CE
RES. 1
5653
RES. 2
5737
CASTORSEED
FEB - - - - - -
INTRADAY
LEVELS
SUPPORT SUPP. 1
-
SUPP. 2
-
PIVOT
--
RESISTANCE
RES. 1
-
RES. 2
-
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Most Active Contract
3
NCDEX INDICES
Index ValuePre.
Close
%
Change
CASTORSEED - - -
CHANA 4065 4190 -2.98
CORIANDER 6330 6235 +1.52
GUARGUM 5570 5640 -1.24
JEERA 13150 13395 -1.83
MUSTARD
SEED3837 3829 +0.21
SOYABEAN 3760 3726 +0.91
TURMERIC 8398 8200 +2.41
TOP LOSERS
SYMBOL EXPIRY DATECURRENT
PRICE CHANGECHANGE
%
CHANA 20-04-2016 4065.00 -177.00 -4.17%
JEERA 18-03-2016 13150.00 -330.00 -2.45%
RAPESEED-MUSTARD
SEED20-04-2016 3837.00 -46.00 -1.18%
SOYABEAN 19-02-2016 3760.00 -34.00 -0.90%
COTTON SEED OIL CAKE
AKOLA19-02-2016 2014.00 -5.00 -0.25%
TOP GAINERS
SYMBOL EXPIRY DATE
CURRENT
PRICE CHANGE CHANGE %
TURMERIC 20-04-2016 8398.00 298.00 3.68%
CORIANDER 20-04-2016 6330.00 55.00 0.88%
BARLEY 20-04-2016 1429.50 12.50 0.88%
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Commodities In News
4
ECONOMIC NEWS
Highlighting benefits of the just-announced Crop Insurance Scheme,
Prime Minister Narendra Modi said awareness about it should be spread
across the country so that at least 50 per cent of the farmers join it within
two years.In his monthly radio programme 'Mann Ki Baat', he also pitched
for continued efforts to popularise Khadi and awarness to save the girl
child, mentioned about the recently launched 'Start-Up India' programme
and talked about the upcoming International Fleet Review to be held in
Visakhapatnam.Modi said he needs the "maximum help" from people
about spreading awareness regarding the Pradhan Mantri Crop Insurance
Scheme which was launched earlier this month."In our country, a lot is said
in the name of farmers. I don't want to get involved in that debate. But
farmers face a major crisis. In natural calamity, their entire effort goes
waste. His one year goes waste. To give him security, only one thing
comes to mind and that is crop insurance," he said in this year's first editionof the monthly radio programme."In (the New Year) 2016, the central
government has given a big gift to the farmers -- Pradhan Mantri Crop
Insurance Scheme. This scheme has been brought not for the purpose that it
should be praised or the Prime Minister should be hailed," he said.The
Prime Minister said that for so many years, there has been talk regarding
crop insurance but "not more than 20-25 per cent" of the country's farmers
had been been able to benefit from such schemes."Can we take a pledge
that we should connect at least 50 per cent of the farmers to this scheme in
two years? I need this help from you. Because if a farmer joins the scheme,
he will get huge help during a natural calamity," he said.Modi said this
t ime, the scheme has got "wide acceptability because it has been made
quite extensive and easy and involves use of technology. Not only this. If
something happens to the crop within 15 days after harvest, even then help
is assured."Usage of technology will ensure speedy assessment and
disbursement of compensation, he said."The biggest thing is that the rate of
premium has been kept so low which nobody would have imagined. The
rate of premium for Kharif crop has been kept 2 per cent while for Rabi
crop it is one-and-a-half per cent.
Mustard seed prices ended with losses on an oversupply woes in
domestic and international market. Prices of mustard seed were under
pressure as the government of Rajasthan, India's biggest producer, has
raised its mustard seed production estimate to 3.5 million ton compared
to 2.9 million ton in last season.Mustard production in the country may
rise by 10 per cent to 5.5 million tonnes this year on account of
favorable weather conditions in last few days. The cold weather
conditions have picked up in the northern and central India, which is
good for standing mustard crop. Some winter showers have also given
a breather to the farmers, as a drop in temperature benefits the standing
crops. Currently, the mustard crop is at flowering stage and the
flowering in mustard is higher by 10-15 per cent as compared to last
year.India's mustard output is expected to grow for the first time in
three years this season, government estimates show, as falling
temperatures, light rains and the absence of crop-damaging frost raisefarmers' hopes after two years of drought.
Ref Soya oil settled down on over supply following higher imports
data. As per latest SEA data, edible oils import rose to 14.07 lt in
December last year from 11.23 lt in December 2014. However, imports
of non-edible oils fell to 11,467 tonnes from 17,996 tonnes in the year-
ago period. Earlier, the Agriculture Ministry has proposed further hike
in import duty of edible oils by 5 per cent in a bid to protect the interest
of farmers, but the decision is still pending. The Ministry has proposed
increase in import duty on crude edible oils to 17.5 per cent and onrefined edible oils to 25 per cent from the existing level.In order to curb
imports and protect domestic oilseeds farmers and processing mills, the
government had in September last year raised import duty on crude
edible oils to 12.5 per cent from 7.5 per cent, while the duty on refined
edible oils was increased to 20 per cent from 15 per cent. India's total
oilmeal exports slipped to 59,818 tons in December compared to
410,178 tons a year earlier, on weak demand from South Korea,
Thailand, Vietnam, and Taiwan.
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5
Fundamental Watch : Cotton
COTTON PRICES AT KEY SPOT MARKETNational Market Update
The government should not consider any proposal to relax duty and tax on
the import of cotton from India, said the Pakistan Cotton Ginner Association
(PGCA) as the same could hurt the domestic market by dumping of cheap rawmaterial. It should be noted that government of Pakistan had imposed 10 per
cent duty on imports of cotton yarn, grey and processed fabric specially
coming from India which was effective from November 01, 2015.
A nine member committee has been constituted by central government to
execute the cotton price control order that will set the prices famers pay to
seed companies to get cotton seeds. However the seed companies including
Mahyco Monsanto are not happy with the decision of setting Maximum Sale
Price (MSP) by government.
Major importer of Indian cotton during the week was Bangladesh.
According to the data released by IBIS, Bangladesh imported 0.27 lakh bales
of cotton in the past week (i.e. 18 Jan-24 Jan 2016). Other major importers
were Pakistan, China, Vietnam and Indonesia and their imported volumes
were 0.26 lakh bales, 0.11 lakh bales, 0.07 lakh bales and 0.05 lakh bales
respectively. India imported cotton mainly from Australia, USA Tanzania
followed by Turkmenistan and Togo. The respective volumes these countriesexported to India during the week are 0.067 lakh bales, 0.020 lakh bales, 0.009
lakh bales, 0.007 lakh bales, 0.001 Lakh Bales.
Cotton production in Andhra Pradesh is likely to fall by around 20% in the
current season to 22.18 lakh bales as compared to the 27.51 lakh bales a year
ago, according to the second advance estimates released by the State
Agriculture Department. However according to the cotton association of India,
cottonproduction in the state would be around 26 lakh bales.
CENTER 01-Feb-15 30-Jan-15 Change
RAJKOT 4880 4835 +45
BHIWANI 4850 4850 UNCH
ADAMPUR 4750 NR -
AHMEDABAD 4800 4800 UNCH
GONDAL 4975 4810 +165
GUNTUR NA NA -
RAICHUR NA NA -
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Technical Outlook
6
BUY CORIANDER APR ABOVE 6410 TARGET 6455 6605 SL
BELOW 6345
SELL GUARGUM FEB BELOW 5500 TARGET 5450 5380 SL
ABOVE 5560
BUY TURMERIC APRIL ABOVE 8430 TARGET 8474 8534 SL
BELOW 8370
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