DAILY AGRI COMMODITY REPORT

23 March 2016

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1

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Market Views

2

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

TURMERIC

APR 8920 9000 8880 8902 -0.18 8070

INTRADAY

LEVELS

SUPPORT SUPP. 1

8855

SUPP. 2

8807

PIVOT

8927

Turmeric short term

trend is bearish and

May continue in

coming days.RESISTAN

CE

RES. 1

8975

RES. 2

9047

CORIANDER

APR 6730 6850 6666 6837 +2.77 6050

INTRADAY

LEVELS

SUPPORT SUPP.1

6718

SUPP. 2

6600

PIVOT

6784

Coriander short term

trend is bullish and May

continue in coming

days.RESISTAN

CE

RES. 1

6903

RES. 2

6968

GUARGUM

APR 5650 5670 5510 5510 -2.30 6652

INTRADAY

LEVELS

SUPPORT SUPP. 1

5457

SUPP. 2

5403

PIVOT

5563

Guargum short term

trend is bearish and

May continue in

coming days.RESISTAN

CE

RES. 1

5617

RES. 2

5727

CASTORSEED

- - - - - - -

INTRADAY

LEVELS

SUPPORT SUPP. 1

-

SUPP. 2

-

PIVOT

--

RESISTAN

CE

RES. 1

-

RES. 2

-

Most Active Contract

3

NCDEX INDICES

Index ValuePre.

Close

%

Change

CASTORSEED - - -

CHANA 4326 4356 -0.69

CORIANDER 6837 6653 +2.77

GUARGUM 5510 5640 -2.30

JEERA 15350 15305 +0.29

MUSTARD

SEED3954 3950 +0.10

SOYABEAN 3955 3928 +0.69

TURMERIC 8902 8918 -0.18

TOP LOSERS

SYMBOL EXPIRY DATECURRENT

PRICECHANGE

CHANGE

%

GUAR GUM 20-04-2016 5510.00 -120.00 -2.13%

GUAR SEED 10 MT 20-04-2016 3138.00 -45.00 -1.41%

CHANA 2 MT 11-04-2016 4320.00 -60.00 -1.37%

CHANA 20-04-2016 4326.00 -40.00 -0.92%

TOP GAINERS

SYMBOL EXPIRY DATECURRENT

PRICECHANGE CHANGE %

TURMERIC 20-04-2016 8902.00 12.00 0.13%

REF SOYA OIL 20-04-2016 632.80 0.65 0.10%

JEERA 20-04-2016 15350.00 15.00 0.10%

BARLEY 20-04-2016 1402.50 1.00 0.07%

Commodities In News

4

ECONOMIC NEWS

Prime Minister Narendra Modi is scheduled to meet top officials of all

banks and insurance companies this week in Mumbai to discuss the

implementation of Pradhan Mantri Fasal Beema Yojana.Under the new

crop insurance scheme, PMFBY, premium burden on farmers has been

kept low - up to 2 per cent of sum insured, and claims are to be settled at

the earliest.The scheme will come into force from April 1 for kharif crops

to be sown from June.Finance Minister Arun Jaitley and senior officials

from the ministries of finance and agriculture will be present in the two-

and-half hour meeting, sources added.Since the new scheme PMFBY is

both for loanee and non-loanee farmers, the meeting will deliberate on

bringing more loanee farmers under the crop insurance scheme so that the

target of 50 per cent is achieved and more farmers take up insurance

coverage.At present, about 25 per cent the total crop area of 194.40 million

hectares is being insured.Out of the farm credit target of Rs 8.5 lakh crore

set for this fiscal, only a sum of Rs 75,000 crore is under crop insurance.

So, there is huge scope to reach out to loanee farmers, sources added.The

government is giving a big push to the crop insurance scheme after

drought, unseasonal rains and hailstorms last year led to state governments

seek total of over Rs 10,100 crore from the National Disaster Response

Fund.Union finance minister Arun Jaitley launched the Pradhan Mantri

Fasal Bima Yojana and Unified Package Insurance Scheme in Mumbai.The

revamped schemes would help farmers insure their crops against natural

calamities in an efficient way because insurance companies will reverse bid

for higher sum insured and lower premium.Uttarakhand became the first

state to adopt this scheme as insurance companies bid for a 2%

premium.Both schemes would target crop insurance as well as accidental

insurance for farmers, insurance for tractors as well as farm

equipments.With the country having suffered two back to back poor

monsoons the FM launched this programme saying that its success should

remove the blot on the government that it has done nothing to protect the

livelihood of the farmers."This scheme would enable the farmer to pay less

and in the event of crop failure will allow him to get paid more.

Turmeric on NCDEX settled up supported by rising demand from

buyers at the spot market. The arrivals have improved last week at

8,725 tonnes compared to 5,151 tonnes across the country. New season

crop has hit the markets but majority of arrivals are of medium quality

turmeric. As per dept of commerce data, turmeric exports until Dec

2015 pegged at 64,100 tonnes while the export for the 2014-15 is

90,738 tonnes compared to 78,360 tonnes in FY14.As on latest sowing

data, turmeric sowing in AP, Telangana is lower than the normal

sowing. Spot turmeric prices decreased by Rs. 300 a quintal at Erode

markets due to an increase in arrivals. Around 15,000 bags arrived for

sale and buyers purchased all the 7,000 bags of new turmeric and 800

bags of hybrid turmeric at a lower price. Of the arrival of 15,000 bags,

70 per cent stocks were sold. The price of the finger variety was down

Rs. 300 a quintal and the root variety by Rs. 150. Similarly, the hybrid

also decreased by Rs. 200.

Chana on NCDEX settled up supported by crop damage caused by

recent unseasonal rains in some growing states. Market participants

expecting modest production loss due to unseasonal rains in North and

Central India. Earlier there are reports of damage for chana in

Maharashtra due to hailstorm. Govt. is creating buffer stock for pulses

including chana so that they can stabilize the prices in years to

come.Imported chana has also hit the markets this month and traders &

stockists are buying up to their respective stock limits for the new

season crop. India has imported 5.79 lt of Chana until December in the

current financial year. In December, country imported over 2 lt of

chana which is a record. In the second advance estimate for 2015-16,

government forecasted 8.09 mt of chana this year, which is more than

production estimated last year (7.17 mt).According to AAFC the

production of Chana will increase to 100,000 tons while this year 2015-

16 its production is estimated to be 90,000 tons.

5

Fundamental Watch : Castorseed

CASTORSEED PRICES AT KEY SPOT

MARKET

National Market Update

Castor seed average price increased in Andhra Pradesh by 2.85 % week on

week basis to Rs 3111.03 per qtl. However, it is still ruling lower by 8.66 %

from the state average price realized in midMarch -2015.However in Gujarat

average price decreased by2.72% week on week basis to Rs 2964.29 per qtl., it

is still ruling down by 15.31% from the average price of March-2015.

Castor oil export increased by 67.91 % to 14263.29 tonne during the week

ended 13th March- 2016.India had exported 8494.36 tonne castor oil before

the week under review. Ave export quote realized at the rate of $1084.88 per

tonne, higher by2.07 % from last week ending6th march-2016.As prices are

ruling lower, export demand would continue with same pace. Availability is

enough and seed supply from new crop to the plants would continue. Ave FoB

quote would hinge in the range of $1025 to $1075 per tonne.

Agricultural Statistics Division, Directorate of Economics & Statistics, India

has revised its Second Adv estimate for foodgrains and estimated 17.27 lakh

tonne castor seed production for 2015-16 crop year,to be marketed in MY

2016-17.The production target for the year had been fixed at 20.34lakh tonne.

India had produced 18.70 lakh tonne castor seed last year as per final estimate

by DES..Against this private estimates hinges in the range of 14 to 15 lakh

tonne for this year.

Total area under Castor crop in India for the year 2015-16 is 1,136,300

hectares. Estimated total production of Castor Seeds in India for the year

2015-16 would be 13,97,000 tonnes (Area as per Government Area

Estimates)Average yield for the year 2015-16 is 1229 kg/hectare.

CENTER 22-Mar-15 21-Mar-15 Change

SUMERPUR 3000 2950 +50

PATAN 3000 3050 -50

MEHSANA Closed Closed -

BHABAR 3025 3010 +15

HARJI 3025 3015 +10

RAJKOT 2925 2995 -70

KADI 3000 Closed -

Technical Outlook

6

BUY CORIANDER APR ABOVE 6730 TARGET 6775 6925 SL

BELOW 6665

SELL GUARGUM APRIL BELOW 5510 TARGET 5460 5390 SL

ABOVE 5570

SELL TURMERIC APRIL BELOW 8870 TARGET 8826 8766 SL

ABOVE 8930

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