Epic research malaysia daily klse report for 13th january 2016
Epic Research Daily Agri Report 13th June 2016
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Transcript of Epic Research Daily Agri Report 13th June 2016
7/26/2019 Epic Research Daily Agri Report 13th June 2016
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DAILY AGRI COMMODITY REPORT
13 June 2016
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Market Views
2
MONTH OPEN HIGH LOW CLOSE % CHG VOL MONTH OPEN HIGH LOW CLOSE % CHG VOL
TURMERIC
JULY 8124 8142 8010 8020 -1.60 13790
INTRADAY
LEVELS
SUPPORT SUPP. 1
7973
SUPP. 2
7925
PIVOT
8057
Turmeric short term
trend is bearish and
May continue in
coming days.RESISTAN
CE
RES. 1
8105
RES. 2
8189
CORIANDER
JULY 6880 6925 6800 6800 -1.53 5820
INTRADAY
LEVELS
SUPPORT SUPP.1
6758
SUPP. 2
6717
PIVOT
6842
Coriander short term
trend is bearish and May
continue in coming
days.RESISTAN
CE
RES. 1
6883
RES. 2
6967
GUARGUM
JULY 5570 5800 5510 5760 +3.23 31252
INTRADAY
LEVELS
SUPPORT SUPP. 1
5580
SUPP. 2
5400
PIVOT
5690
Guargum short term
trend is bullish and
May continue in
coming days.RESISTAN
CE
RES. 1
5870
RES. 2
5980
CASTORSEED
- - - - - - -
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 6885 6727 +2.35
CORIANDER 6743 6859 -1.69
GUARGUM 5660 5470 +3.47
JEERA 16585 16500 +0.52
MUSTARD
SEED4671 4593 +1.70
SOYABEAN 3839 3844 -0.13
TURMERIC 7946 8104 -1.94
TOP LOSERS
SYMBOL EXPIRY DATECURRENT
PRICECHANGE
CHANGE
%
TURMERIC 20-06-2016 7946.00 -132.00 -1.63%
CORIANDER 20-06-2016 6743.00 -84.00 -1.23%
REF SOYA OIL 20-06-2016 642.60 -2.35 -0.36%
TOP GAINERS
SYMBOL EXPIRY DATECURRENT
PRICECHANGE
CHANGE
%
CHANA 20-06-2016 6885.00 105.00 1.55%
JEERA 20-06-2016 16585.00 110.00 0.67%
BARLEY 20-06-2016 1598.00 5.50 0.35%
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Commodities In News
4
ECONOMIC NEWS
Even though the arrival of monsoon has brought some relief to farmers
after two back-to-back droughts, soybean farmers of Madhya Pradesh,
Maharashtra and Rajasthan are not too keen on increasing the acreage for
their crop which stood at 110.65 lakh hectares during last year's kharif
season.Instead, they are trying to increase productivity of soybean by 20%
per hectare for a better crop size. Some farmers are planning to shift to
other crops such as pulses which had given better returns last year."Last
year, farmers faced a dry spell during the sowing season which was
followed by heavy rains during the harvesting period between September
and October. The erratic weather conditions had impacted the kharif crop
in 2015.Farmers are still worried about the late rains. That's why some may
shift from soybean to some other kharif crop this year," said DN Pathak,
executive director, Soybean Processors Association of India (SOPA).
During the 2015 kharif season, production of soybean was around 69.29lakh tonnes, compared with 87.1 lakh tonnes in 2014."This year, farmers
are aiming to increase the yield by at least 20% for a better crop size.
Generally, per hectare production is 980-1000 tonnes. We are aiming to
increase it to 1,200 tonne per hectare," said Mahesh Rajput, a farmer from
Indore, Madhya Pradesh. An increase in crop size will help the country
reduce its import bill on account of edible oil.The country generally
imports around 14.5-15 million tonnes of edible oil to meet its domestic
consumption which is around 20 million tonnes annually.Due to a drop in
crop size, farmers are getting better price for their produce. Soybean prices
are up 7% than what they were a year ago. At present, a tonne of soybeanis fetching a price of Rs 3950 while in June last year, the price was Rs 3700
per quintal.BV Mehta, executive director, Solvent Extractors' Association
of India (SEA), feels that there will be some marginal drop in acreage of
soybean. "It may be 5%-10% maximum. But we do not see a significant
chunk of soybean farmers shifting to some other crop," he added.
Cotton on MCX settled down due to weak export demand from
Bangladesh, Pakistan and Vietnam. Though, some losses were capped
on lower output from major growing regions due to delayed arrival of
monsoon coupled with scare of pest attacks such as whitefly and pink
bollworm. According to government and trade sources, Indian cotton
acreage is likely to decline by 5 -7 per cent this season compared to 118lakh hectares during the previous year.According to early estimates
acreage is likely to decline by around 10 lakh hectares. Delay in
monsoon, fear of pest attack which crop production previous year and
advise by State Governments to decline acreage under cotton are the
factors behind likely decline in acreage. India exported 0.618 lakh bales
of cotton last week (30 May -05 June 2016), which was 0.523 lakh
bales previous to last week (23 -29 May 2016), according to the data.
Major importer of Indian cotton during the week (30 May -05 June,
2016) was Bangladesh. According to the data, Bangladesh imported0.257 lakh bales of cotton from India in the past week (30 May -05
June, 2016).
Mustard Seed on NCDEX settled up on supply worries in global
market. According to USDA's May report, global rapeseed production
is forecast to decline in 2016/17 to 66.15 million tons as lower sown
area is reported in Canada, Ukraine, the Europe, and China. Moreover,
in Canada and EU the rapeseed production might fall due lower
acreage and expectation of insect damage. New arrivals were reported
in the range of 2-2.50 lakh bags.The latest survey report from SEA OFINDIA, the total mustard seed crop for marketing year 2015-16 is
estimated at 57.28 lakh tonnes against 50 lakh tonnes of the last year in
the same period. The total crop size of Rajasthan is estimated at 26.02
lakh tonnes against 23.02 lakh tonnes of the previous year. India's
mustard output is estimated at 5.8 mln tn in 2015-16 (Jul-Jun), up from
5.0 mln tn a year ago, due to better yield and favorable weather,
according to a survey conducted jointly by the Central Organisation for
Oil Industry and Trade, Mustard Oil Producers Association, and the
Solvent Extractors' Association of India.
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5
Fundamental Watch : Cotton
COTTON PRICES AT KEY SPOT MARKETNational Market Update
According to government and trade sources, Indian cotton acreage is likely
to decline by 5 -7 per cent this season compared to 118 lakh hectares during
the previous year. According to early estimates acreage is likely to decline byaround 10 lakh hectares. Delay in monsoon, fear of pest attack which crop
production previous year and advise by State Governments to decline acreage
under cottonare the factors behind likely decline in acreage.
Export of cotton-based textile goods declined in 2015-16 by 2.1 per cent to
$36.2 billion compared to $37.1 billion in 2014-15. Exports have been
declining during the last few months. The high price of domestic cotton,
coupled with heavy duties on import of cheaper Chinese varieties, has affected
production of cotton goods according to industry officials.
The Cotton Association of India (CAI) has estimated India’s cotton output in
2015 -16 at 341.50 lakh bales (of 170 kg each), around 10.8 per cent lower
Thicompared to the previous year’s production of 383 lakh bales. The
projected balance sheet drawn by the CAI for 2015-16 pegs total supply at
429.10 lakh bales, while domestic consumption is seen at 305 lakh bales, thus
leaving an available surplus of 124.10 lakh bales.
Department of Agriculture, Ministry of Agriculture (MoA) in its second
advance estimates, has revised the cotton production estimates downwardly
for the season 2015-16 at 306.92 lakh bales (of 170 kg each). For the season
2014-15, the estimate was 346.23 lakh bales according to the first advance
estimates for the season.
CENTER 10-Jun-16 09-May-16 Change
RAJKOT 5445 4795 -50
BHIWANI 5500 5500 UNCH
ADAMPUR 5630 5550 +80
AHMEDABAD 5700 5750 -50
GONDAL 5555 5655 -100
GUNTUR NA NA -
RAICHUR 5600 5780 -180
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Technical Outlook
6
SELL CORIANDER JULY BELOW 6800 TARGET 6755 6655 SL
ABOVE 6865
BUY GUARGUM JULY ABOVE 5800 TARGET 5850 5920 SL
BELOW 5740
SELL TURMERIC JULY BELOW 8010 TARGET 7966 7906 SL
ABOVE 8070
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