Epic Research Daily Agri Report 29JAN 2016

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7/25/2019 Epic Research Daily Agri Report 29JAN 2016 http://slidepdf.com/reader/full/epic-research-daily-agri-report-29jan-2016 1/7 DAILY AGRI COMMODITY REPORT 29 January 2016 HNI & NRI Sales Contact Australia Mintara Road, Tarneit, Victoria. Post Code 3029 Phone.: +61 422 063855 HNI & NRI Sales Contact USA 2117 Arbor Vista Dr. Charlotte (NC) Cell: +1 704 249 2315 Toll Free Number 1-800-200-9454 All queries should be directed to [email protected] 1 Epic Research India 411 Milinda Manor (Suites 409- 417) 2 RNT Marg. Opp Central Mall Indore (M.P.) Hotline: +91 731 664 2300 Alternate: +91 731 664 2320 Or give us a missed call at 026 5309 0639 Our Presence YOUR MINTVISORY Call us at 91-731-6642300

Transcript of Epic Research Daily Agri Report 29JAN 2016

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DAILY AGRI COMMODITY REPORT

29 January 2016

HNI & NRI Sales Contact Australia

Mintara Road, Tarneit, Victoria. Post Code 3029

Phone.: +61 422 063855

HNI & NRI Sales Contact USA

2117 Arbor Vista Dr. Charlotte (NC)

Cell: +1 704 249 2315

Toll Free Number

1-800-200-9454

All queries should be directed to

[email protected]

1

Epic Research India

411 Milinda Manor (Suites 409- 417)

2 RNT Marg. Opp Central Mall

Indore (M.P.)

Hotline: +91 731 664 2300Alternate: +91 731 664 2320

Or give us a missed call at

026 5309 0639

Our Presence

YOUR MINTVISORY Call us at 91-731-6642300

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Market Views

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MONTH OPEN HIGH LOW CLOSE % CHG VOL MONTH OPEN HIGH LOW CLOSE % CHG VOL

TURMERIC

APR 8020 8360 8004 8100 -1.27 10905

INTRADAY

LEVELS

SUPPORT SUPP. 1

7949

SUPP. 2

7799

PIVOT

8155

Turmeric short term

trend is bearish and

May continue in

coming days.RESISTAN

CE

RES. 1

8305

RES. 2

8511

CORIANDER

APR 6105 6405 6105 6275 -0.82 4790

INTRADAY

LEVELS

SUPPORT SUPP.1

6118

SUPP. 2

5962

PIVOT

6262

Coriander short term

trend is bearish and May

continue in coming

days.RESISTAN

CE

RES. 1

6418

RES. 2

6562

GUARGUM

FEB 5790 5900 5760 5850 +0.34 12323

INTRADAY

LEVELS

SUPPORT SUPP. 1

5773

SUPP. 2

5697

PIVOT

5837

Guargum short term

trend is bearish and

May continue in

coming days.RESISTAN

CE

RES. 1

5913

RES. 2

5977

CASTORSEED

FEB - - - - - -

INTRADAY

LEVELS

SUPPORT SUPP. 1

-

SUPP. 2

-

PIVOT

--

RESISTANCE

RES. 1

-

RES. 2

-

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Most Active Contract

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NCDEX INDICES

Index ValuePre.

Close

%

Change

CASTORSEED - - -

CHANA 4242 4255 -0.35

CORIANDER 6275 6327 -0.82

GUARGUM 5850 5830 +20

JEERA 13480 13335 +1.09

MUSTARD

SEED3883 3865 +0.47

SOYABEAN 3794 3720 +1.99

TURMERIC 8100 8204 -1.27

TOP LOSERS

SYMBOL EXPIRY DATECURRENT

PRICE CHANGECHANGE

%

CHANA 20-04-2016 4243.00 -17.00 -0.40%

BARLEY 20-04-2016 1417.00 -5.50 -0.39%

TURMERIC 20-04-2016 8160.00 -30.00 -0.37%

CORIANDER 20-04-2016 6311.00 -23.00 -0.36%

TOP GAINERS

SYMBOL EXPIRY DATECURRENT

PRICECHANGE CHANGE %

SOYABEAN 19-02-2016 3794.00 75.00 2.02%

JEERA 18-03-2016 13500.00 190.00 1.43%

COTTON SEED OIL CAKE

AKOLA19-02-2016 2019.00 21.00 1.05%

RAPESEED-MUSTARD

SEED20-04-2016 3888.00 33.00 0.86%

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Commodities In News

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ECONOMIC NEWS

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 raise farmers' hopes after two years

of drought.Early projections by the six biggest producing states, which

account for more than 80 per cent of the oilseed's output, indicate a gain of 

about 15 per cent in output. That is not, however, expected to eat into

India's vegetable oil imports, which will continue to rise as the population

expands.Edible oil traders have been awaiting for news on India's output of 

mustard - also loosely referred to as rapeseed by the government - to better 

asses near-term demand, particularly after a warmer-than-average start to

the winter season had delayed sowing and threatened output.Indian futures

of mustard or rapeseed fell on Monday to their lowest level in nearly nine

months on prospects of a bumper harvest.Already, flowering of mustard is

up by 10-15 per cent this year from last year, according to the SolventExtractors' Association of India."The mustard crop is likely to turn out well

if there is no frost in the next 10 to 15 days," said Inderjeet Singh, a farmer 

from Rajasthan, India's top mustard producing state.The western state's

output could rise 21.4 per cent to 3.5 million tonnes in the planting season

that began on Oct. 1, up from a low base the previous year when hail and

rains damaged crops.Production for other main states such as Haryana,

Uttar Pradesh and Punjab are likely to grow 7-32 per cent, according to

estimates from their agriculture departments.Central India's Madhya

Pradesh, however, is predicting a 6 per cent fall as farmers in many of its

districts delayed sowing due to a lack of soil moisture.Drought causedIndia's 2014/15 mustard production to fall 23 per cent to 5 million tonnes.

This year's estimate from the top producing states alone is 6.17

million.Despite the higher mustard output, India's imports of vegetable oils

are still expected to rise.The world's biggest importer of vegetable oils

spends more than $10 billion a year on such purchases. This year the

imports may rise as much as 11 per cent to a record 16 million tonnes in the

2015/16 marketing year that started on Nov. 1, according to estimates from

a Mumbai trade body.The table below gives the estimated production of six

Indian states in tonnes.

Jeera settled up on short covering after prices dropped due to ample

stocks position following higher supply in the physical market. Further,

 bumper crop this year due to good weather conditions across Gujarat

and Rajasthan limited the upside. Good weather conditions across

Gujarat and Rajasthan may help in bumper crop this year. Limited

 buying by stockists and traders at higher levels also weighs on prices.Gujarat, the top cumin producing state, has planted more cumin

until Jan 18, 2016 compared to last year sowing progress. In Gujarat,

 jeera is planted about 10.7% more area at 2,95,200 hectares compared

to 2,66,700 hectares last year same time. As per data, arrivals of Jeera

in Gujarat markets for the calendar year 2015 is lower by 231 % at

about 1.28 lt compared to 4.25 lt last year.According to Dept of  

Commerce data, the export of jeera during first 6 month of 2015-16

(Apr-Sep) is 44,140 tonnes, which is, lower as compared to last year 

same period. Jeera (cumin) exports have been 1.55 lt in 2014-15.According to govt data, exports for 2015-16 shows a decline trend

compared to last year until September.

Mustard Seed settled up on late short covering after prices dropped

earlier on oversupply woes in domestic and international market and on

weak demand in export market. Prices of rm seed were also down as

rapeseed meal export is reduced to 1/3rd of last year. Prices of mustard

seed were also under pressure as the government of Rajasthan, India's

 biggest rm seed producer, has raised its mustard seed production

estimate to 3.5 million ton compared to 2.9 million ton in lastseason.According to latest USDA report, global rapeseed production is

 projected at 67.7 million tons, up 180,000 tons compared to last

month's forecast. Canada rapeseed production is raised 1.7 million tons

to 17.2 million tons. China rapeseed imports for 2015/16 may decline

to 4.25 million tons from 4.59 million tons. Rapeseed meal exports

from India slumped 87% on year to 16,855 tons in December on weak 

demand from South Korea and Thailand, data released from Solvent

ExtractorsAssociation of India (SEA) showed.

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Fundamental Watch : Castorseed

CASTORSEED PRICES AT KEY SPOT

MARKETNational Market Update

Yellow flowering in castor plants in Mahesana, Banskatha and other regions

have been reported by farmers and it may reduce normal yield expectation by

10 to 15 % in five to six districts and resultantly the crop size would reduce by50,000 thousand tonne in that particular area. If weather turns rough castor 

 price may firms up in the season once again. Hailstorm, heavy rains and

higher than normal temperature too may damage castor yield. However, at

current condition market is likely to trade bearish. Stake holders must keep

eye on any possible weather change.

Castor oil from India decreases by 39.22 % to 4026.41tonne during the week 

ended 25th Jan-2016. Average FoB quote realized during the week is lower by

4.01% from previous week at $1258.49 per tonne. The gap between the

highest and the lowest quotes is higher by $700 per tonne.

As Per Gujarat Agriculture Directorate latest update castor seed production

in Gujarat may decrease by 13 % this year to 12.66 lakh tonne. Gujarat had

 produced 14.56 lakh tonne seed last year. It is second advance estimate by agri

state directorate. In first adv estimate production were pegged at14.68 lakh

tonne. Lower production estimate may hamper declining trend in seed price.

Agriculture statistics Division, DES has released its 1st Adv estimates of 

Production of food-grains for 2015-16 on 16.09.2015.It has estimated 19.44

lakh tonne seed production this year. The production target for 2015-16 has

 been fixed at 20.34 lakh ton. India has produced 19.63 lakh tonne castor seed

in 2014-15 as per revised 1st Adv estimate. Private trade estimate for the year 

is much lower and is between 15 to 16 lakh tonne for 2015-16.However,it is

too early to talk about the final size as sowing is just over.

CENTER 28-Jan-15 27-Jan-15 Change

SUMERPUR NA NA -

PATAN 3075 3150 -75

MEHSANA 2975 3200 -225

BHABAR 3035 3100 -65

HARJI 3050 3075 -25

RAJKOT 3005 3175 -170

KADI 3025 3150 -125

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Technical Outlook 

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SELL CORIANDER APR BELOW 6210 TARGET 6165 6015 SL

ABOVE 6275

SELL GUARGUM FEB BELOW 5790 TARGET 5740 5670 SL

ABOVE 5850

SELL TURMERIC APRIL BELOW 8050 TARGET 8006 7946 SL

ABOVE 8110

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