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1. DAILY AGRI COMMODITY REPORT
07 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
MAY 10500 10822 10375 10625 -0.28 20110
INTRADAY
LEVELS
SUPPORT SUPP.1
10393
SUPP. 2
10160
PIVOT
10607
Coriander short term
trend is up and may
continue in coming
days.RESISTAN
CE
RES. 1
10840
RES. 2
11054
CASTORSEED
MAY 3785 3785 3652 3722 -1.61 80660
INTRADAY
LEVELS
SUPPORT SUPP. 1
3654
SUPP. 2
3587
PIVOT
3720
Castorseed short term
trend is up and may
continue in coming
days..RESISTAN
CE
RES. 1
3787
RES. 2
3853
TURMERIC
MAY 8420 8440 8150 8312 -1.40 15025
INTRADAY
LEVELS
SUPPORT SUPP. 1
8161
SUPP. 2
8011
PIVOT
8301
Turmeric short term
trend is up and may
continue in coming
days.RESISTAN
CE
RES. 1
8451
RES. 2
8591
GUARGUM
MAY 12690 12900 12070 12220 -0.41 15328
INTRADAY
LEVELS
SUPPORT SUPP. 1
11893
SUPP. 2
11567
PIVOT
12397
Guargum short term
trend is up and may
continue in coming
days.RESISTAN
CE
RES. 1
12723
RES. 2
13227
3. Most Active Contract
3
TOP GAINERS
SYMBOL EXPIRY DATE
CURRENT
PRICE
CHANGE
CHANGE
%
CHANA 20-05-2015 4481.00 109.00 2.49%
CORIANDER 20-05-2015 10555.00 17.00 0.16%
NCDEX INDICES
Index Value
Pre.
Close
%
Change
CASTORSEED 3722 3783 -1.61
CHANA 4477 4372 +2.4
CORIANDER 10625 10655 -0.28
GUARGUM 12220 12270 -0.41
JEERA 17395 17900 -2.82
MUSTARD SEED 3902 3969 -1.69
SOYABEAN 4211 4232 -0.5
TURMERIC 8312 8430 -1.4
TOP LOSERS
SYMBOL EXPIRY DATE
CURRENT
PRICE
CHANGE
CHANGE
%
JEERA 20-05-2015 17395.00 -380.00 -2.82%
CASTOR SEED NEW 20-05-2015 3717.00 -56.00 -1.48%
RAPESEED-MUSTARD
SEED
20-05-2015 3902.00 -58.00 -1.46%
BARLEY 20-05-2015 1266.00 -18.00 -1.40%
TURMERIC 20-05-2015 8290.00 -90.00 -1.07%
COTTON SEED OIL CAKE
AKOLA
20-05-2015 1845.00 -15.00 -0.81%
REFINED SOY OIL 19-06-2015 598.00 -3.85 -0.64%
SOYABEAN 19-06-2015 4217.00 -15.00 -0.35%
4. Commodities In News
4
ECONOMIC NEWS
Ram Vilas Paswan, Union food minister, said India has enough
foodgrains to meet requirement of Targeted Public Distribution
System(TPDS). “The Government of India ensures minimum food
reserve in its godowns at any given point of time,” he said in a written
reply in Lok Sabha today.Foodgrain management is an issue if growing
relevance in a country like India.The year 2050 is likely to be critical
for India's food security as a report by ABARES says the country's agri
food demand would soar 136 per cent in by 2050.This signals a
looming food crisis as cultivable land is declining from the current 35
crore hectare across India. Production needs to be augmented and the
government should ensure the efficiency of foddgrain management
system.India's foodgrain management system has always been faulty.
India loses over Rs 48,000 crore due to theft in PDS system The report
said leakages from the PDS are not only huge, they are steadily rising,
from 24% of all grain distributed by the Food Corporation of India
(FCI) in 1999-2000 to a little under 47% (or 26 million tonnes) in 2011-
12.The government's reform measure to restructure and modernize FCI
and streamlining of Targeted Public Distribution System(TPDS) was a
positive response to this crisis.According to Paswan, Stocks equivalent
or more are continuously replenished in FCI godowns on continuous
basis. Stocks are moved from surplus states to deficient States. He said
that FCI has also planned to modernize its existing storage capacity by
construction of modern silos in PPP mode. Steps taken by FCI to
preserve the quality of procured Food grains during Storage are :1.
Before the commencement of Rabi and Kharif Marketing Seasons,
Ministry of Consumer Affairs, Food & Public Distribution, Department
of Food & Public Distribution, Govt. of India issues uniform
specifications for procurement of foodgrains for the Central Pool.
These uniform specifications are circulated to FCI and all State
Govts./Agencies with instructions to ensure that foodgrains are
procured strictly in accordance with the uniform specifications.2.
Foodgrains procured by FCI and State Govts/Agencies are stored in
covered godowns as well as in CAP (cover and plinth).
Rising domestic demand, falling arrivals, lower production and the recent
adverse report on the Monsoon kept trend up for Chana as it opened at 4%
Upper Circuit and remained there. Import of Pulses touch record high of 4.1
million tons in 2014-15 as adverse Monsoon last year coupled with rising
demand at the lower levels seen last year and crop damage reports from
recent rains in MP and Rajasthan resulted in lower production this year. As
per 2nd Advance Estimates for 2014-15, production of pulses estimated at
18.43 million tonnes is lower by 1.35 million tonnes than the last year’s
production. Chana production estimated at 8.28 million tons vs 9.53 million
tons last year. Urad production expected to shrink by 5% to 16.10 lakh tons
from 17 lakh tons. Moong production to fall to 14 lakh tons from 16.10 lakh
tons.In order to keep prices for Pulses under check, the Govt has decided to
extent duty-free imports till Sept. Unseasonal rain in March brought a heavy
loss to crops of pulses.Indian farmers have cultivated 146 lakh hectares pulse
crops during the rabi season. Out of this chana acreage is near 85 lakh
hectares. Pulses production is estimated to fall to 184.3 lakh tons in 2014-15
due to less acreage. Last year 197.8 lakh tons of pulses were produced in the
country.
Lower Monsoon reports can have a strong long term Bullish impact on
the prices. Guar being a rain-sensitive crop, adequate amount of rains are
required for the crop. Prospects of lower production this year along with
rising Crude Oil prices, leading to improved export demand could support
price. Due to lower rates, Indian export of Guargum has increased.In the 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.During the
whole financial year 2013-14 around 6.01 lakh ton gum was exported which
was a record till now. Export figure signals that export may touch a level of
7 lakh ton in this financial year.With Guar being used for oil drilling
purpose, export demand from US is expected to rise on recovery in Crude
Oil prices. The govt has scrapped an incentive of 2% given for the exports of
guargum products, guar gum powder, korma and churi in new foreign trade
policy-2014-15 while an incentive of 3% for direct exports of guar seed has
been announced which will accelerate exports of guar seed.
5. 5
Fundamental Watch : Cotton
COTTON ARRIVALS AT KEY SPOT
MARKET
National Market Update
Cotton Corporation of India (CCI) has invited the bids to sell 90,700 fully pressed
(F.P.) bales of cotton through e-auction today at various centers including Akola,
Aurangabad, Indore, Ahmedabad, Rajkot, Bathinda, Sirsa, Bhilwara, Adilabad,
Warangal, Guntur, Hubli and Rayagada. Major varieties offered were BB, H-4, S-6
and J-34. Despite the lower production world cotton expected to rise in the coming
season i.e. 2015-16 following the higher demand from South Asian countries.
According to ICAC, Cotton exports from India would be around 1.34 million tones
(78.8 lakh bales) in the next season around 27.62% higher when compared to the
export of current season. Cotton Corporation of India (CCI) has decided not to release
the entire cotton stocks immediately in the market, rather it will release in the phases.
Textile industry is constantly demanding CCI to release the stocks so avoid artificial
shortage of cotton. CCI has procured around 86 lakh bales of cotton at MSP this
season, highest procurement since 208-09, which has lifted the cotton prices in the
domestic market which is putting the textile industry in the trouble by making raw
cotton costlier. The government is intended to procure 11 million bales of cotton in the
current season ending in September. An ex-post facto approval by Cabinet Committee
on Economic Affairs has been granted to engage Maharashtra State Co-operative
Cotton Growers Marketing Federation (MSCCGMFL) as a sub agent of CCI to
undertake procurement operations.
The International Cotton Advisory Committee (ICAC) has revised the world ending
stocks estimates for 2015/16 at 21.23 million tones which was estimated 21.21 million
tones in April 2015/16. On the production side ICAC foresees the production at 23.89
million tones for season 2015/16 which was earlier estimated at 23.99 million tones in
April 2015. Cotton prices in China have been rebounding marginally since mid April,
on better yarn sales of downstream companies. The benchmark cotton contract for
September delivery, which rose 0.22 percent by the end of Tuesday, surged to the
highest of 13,530 yuan/tonne and hit the lowest of 13,355 yuan/tonne during Tuesday
session, recording a fluctuating range of nearly 200 yuan in a day. Around 12% of
cotton planting has been completed in USA as on April 26 this year, which was 8%
last week and 10% last year on same date, according to USDA. The five year average
sowing progress is 16% as on date, same as the current sowing pace.
CENTER 06-May-15 05-May-15 Change
AMRAVATI 400 550 -150
MAHESANA NA NA -
RAJKOT 1410 1250 +160
PATAN 1325 1235 +90
DEESA NA NA -
BHIWANI NA NA -
GONDAL 327 329 -2
6. Technical Outlook
6
BUY CORIANDER MAY ABOVE 10780 TARGET 10805 10845 SL
BELOW10755
SELL GUARGUM MAY BELOW 12160 TARGET 12110 12050 SL
ABOVE 12220
SELL TURMERIC MAY BELOW 8220 TARGET 8180 8120 SL
ABOVE 8280
SELL CASTORSEED MAY BELOW 3700 TARGET 3675 3645 SL
ABOVE 3725
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